Major improvements in copper concentrate supply forecast
In the first eight months of 2012, its Y-o-Y imports of refined copper rose 57.7% to 2.39 mt and of concentrate 14.1% to 4.6 mt
Kunal Bose / Nov 13, 2012, 00:31 IST
India’s two standalone smelters without mine linkages, belonging to Hindalco Industries and Sterlite Industries, have reasons to be happy, with the International Copper Study Group (ICSG) saying the world could see supply surplus of copper concentrate in 2013. That would mark the end of over a decade-long tightness in availability of the mineral for smelting into metal. Principally, on the back of copper mines expansion in Chile and the Oyu Tolgoi copper-gold mine coming on stream, concentrate supply next year, according to ICSG, will see a 6.4 per cent rise.
Tuesday, November 13, 2012
Monday, November 12, 2012
Chile Cochilco Raises 2012 Copper Price View to $3.61 a Pound
Chile Cochilco Raises 2012 Copper Price View to $3.61 a Pound
Published November 12, 2012
Dow Jones Newswires
Chilean state copper commission Cochilco raised its 2012 copper-price outlook to an average of $3.61 a pound, from a previous outlook of $3.52/lb.
Published November 12, 2012
Dow Jones Newswires
Chilean state copper commission Cochilco raised its 2012 copper-price outlook to an average of $3.61 a pound, from a previous outlook of $3.52/lb.
Global Copper Production Under Stress
Global Copper Production Under Stress
Richard (Rick) Mills
Ahead of the Herd
Capital inputs account for about half the total costs in mining production - the average for the economy as a whole is 21 per cent. Obviously many of the costs, once incurred, cannot be recovered by sale or transfer of the fixed assets.
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
Capital inputs account for about half the total costs in mining production - the average for the economy as a whole is 21 per cent. Obviously many of the costs, once incurred, cannot be recovered by sale or transfer of the fixed assets.
Sunday, November 11, 2012
Update On Copper Mining In Chile
**Update On Copper Mining In Chile**
Sunday, 11 November, 2012
By: Charles Kubach, Mine-Engineer.Com
Copper mining costs are being reported ranging from around $2/pound to a high of $3.20 per pound. As China's economy cools to a 5% growth rate, they require fewer resources, such as steel and copper, so the demand weakens, but if American and European economies ever recover, copper will again rise to the $4 per pound level. The trick is to still be in business when that happens, and keeping mines profitable and costs in line is how a mining company will do that. By utilizing process efficiencies, convincing the government to not tax and fee the industry into oblivion, and keeping mine costs in line with projected income will determine if Chile's copper thrives or moves on to another continent.
Sunday, 11 November, 2012
By: Charles Kubach, Mine-Engineer.Com
Copper mining costs are being reported ranging from around $2/pound to a high of $3.20 per pound. As China's economy cools to a 5% growth rate, they require fewer resources, such as steel and copper, so the demand weakens, but if American and European economies ever recover, copper will again rise to the $4 per pound level. The trick is to still be in business when that happens, and keeping mines profitable and costs in line is how a mining company will do that. By utilizing process efficiencies, convincing the government to not tax and fee the industry into oblivion, and keeping mine costs in line with projected income will determine if Chile's copper thrives or moves on to another continent.
Russia: the CBR left rates unchanged in Nov as expected
Russia: the CBR left rates unchanged in Nov as expected
In Russia, the CBR made decision to leave all key rates (depo, repo and refi) unchanged in November. This decision has been highly expected as CPI inflation slowed to 6.5%y/y in October, providing the CBR time for manoeuvre. However, we generally see October's relief in food price pressure as temporary and expect a new round of food inflation soon, resulting in a new acceleration of CPI inflation. This makes monetary tightening likely. We expect the CBR to hike rates by 25bp in Dec and see refi rate at 8.5% by 2012-end (flat in 2013). The decision is planned to in the first ten days of Dec (presumably, 7 Dec 2012).
In Russia, the CBR made decision to leave all key rates (depo, repo and refi) unchanged in November. This decision has been highly expected as CPI inflation slowed to 6.5%y/y in October, providing the CBR time for manoeuvre. However, we generally see October's relief in food price pressure as temporary and expect a new round of food inflation soon, resulting in a new acceleration of CPI inflation. This makes monetary tightening likely. We expect the CBR to hike rates by 25bp in Dec and see refi rate at 8.5% by 2012-end (flat in 2013). The decision is planned to in the first ten days of Dec (presumably, 7 Dec 2012).
Mexico: Banxico’s Minutes – Limits to Patience
Mexico: Banxico’s Minutes – Limits to Patience
Nader Nazmi - Market Economics
Latam Macro Snapshot | 09 Nov 2012 16:45 |
Worried about inflation for now.
According to the minutes from the 26 October meeting of the Monetary Policy Committee (MPC), the board sees elevated risks to inflation near term. While it judges supply shocks as the main cause of high inflation, it is mindful of second-round effects. It is worried that price pressures, albeit temporary, will contaminate inflation expectations, result in wage hikes that exceed the inflation target and spill over to core inflation. This is especially a concern given that the output gap has closed (and is likely positive) and inflation has been stuck above the 4.0% Banxico implicit tolerance ceiling for five months.
Nader Nazmi - Market Economics
Latam Macro Snapshot | 09 Nov 2012 16:45 |
Worried about inflation for now.
According to the minutes from the 26 October meeting of the Monetary Policy Committee (MPC), the board sees elevated risks to inflation near term. While it judges supply shocks as the main cause of high inflation, it is mindful of second-round effects. It is worried that price pressures, albeit temporary, will contaminate inflation expectations, result in wage hikes that exceed the inflation target and spill over to core inflation. This is especially a concern given that the output gap has closed (and is likely positive) and inflation has been stuck above the 4.0% Banxico implicit tolerance ceiling for five months.
Brazil: The Hunt for Red October
Brazil: The Week Ahead - The Hunt for Red October
Marcelo Carvalho - Market Economics
Brazil: The Week Ahead | 09 Nov 2012 16:30 |
You may have seen the film. The 1990 movie “The Hunt for Red October” is a thriller adapted from the Tom Clancy novel of the same name. In the story, Red October is the name of the new Soviet submarine that sonars are unable to detect. Sean Connery plays the commanding officer of the boat. Currently in Brazil, bearish forecasters seem to be hunting for a red October on growth data.
Marcelo Carvalho - Market Economics
Brazil: The Week Ahead | 09 Nov 2012 16:30 |
You may have seen the film. The 1990 movie “The Hunt for Red October” is a thriller adapted from the Tom Clancy novel of the same name. In the story, Red October is the name of the new Soviet submarine that sonars are unable to detect. Sean Connery plays the commanding officer of the boat. Currently in Brazil, bearish forecasters seem to be hunting for a red October on growth data.
China: Chinese export growth improved further (W. Yao)
Eco Analysis - Chinese export growth improved further (W. Yao)
China's export growth surprised on the upside again, but imports remained sluggish.
China's export growth rose further to +11.6%yoy in October from +9.9%yoy in September, beating expectations (Cons. +10%; SG +9%) for a second month. There were two more workdays last month than that in October 2011, which contributed to the headline improvement. But, even if excluding this factor, exports still hold up reasonably well. Export growth to the US and the European Union improved to +9%yoy and -8.1%yoy in October from +5.5yoy and -10.7%yoy in the previous month, previously. As in September, emerging Asia outperformed the most, with exports to ASEAN economies rising 44%yoy. However, we remain cautious on the export outlook, amid weak order figures, especially those from the Canton fair (-9%yoy).
China's export growth surprised on the upside again, but imports remained sluggish.
China's export growth rose further to +11.6%yoy in October from +9.9%yoy in September, beating expectations (Cons. +10%; SG +9%) for a second month. There were two more workdays last month than that in October 2011, which contributed to the headline improvement. But, even if excluding this factor, exports still hold up reasonably well. Export growth to the US and the European Union improved to +9%yoy and -8.1%yoy in October from +5.5yoy and -10.7%yoy in the previous month, previously. As in September, emerging Asia outperformed the most, with exports to ASEAN economies rising 44%yoy. However, we remain cautious on the export outlook, amid weak order figures, especially those from the Canton fair (-9%yoy).
Saturday, November 10, 2012
Frankfurt Turns Offices to Homes as Excesses Lift Vacancy
Bloomberg News
Frankfurt Turns Offices to Homes as Excesses Lift Vacancy
By Dalia Fahmy on November 09, 2012
Vijay Vankadari, who has renovated Frankfurt apartment buildings for more than a decade, used a cheap and plentiful resource for his latest residential project in the city: old office buildings that businesses won’t touch.
http://www.businessweek.com/news/2012-11-08/frankfurt-turns-offices-to-homes-as-excesses-lift-vacancy
Frankfurt Turns Offices to Homes as Excesses Lift Vacancy
By Dalia Fahmy on November 09, 2012
Vijay Vankadari, who has renovated Frankfurt apartment buildings for more than a decade, used a cheap and plentiful resource for his latest residential project in the city: old office buildings that businesses won’t touch.
http://www.businessweek.com/news/2012-11-08/frankfurt-turns-offices-to-homes-as-excesses-lift-vacancy
Subscribe to:
Posts (Atom)