QUADRA mehrere 100% ?
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Stuttgart (www.rohstoffe-go.de) Wie ein Offizieller der Macquarie Group eines australischen Finanzdienstleisters, mitteilte, könnte China in diesem Jahr weitere 900.000 Tonnen Kupfer einkaufen – das Dreifache dessen, was bisher erworben wurde. Die chinesische Regierung implementiert derzeit ein Konjunkturprogramm im Volumen von 585 Milliarden Dollar, um den Binnenmarkt zu stützen, nachdem die Wirtschaft des Landes im vierten Quartal so langsam wuchs wie seit sieben Jahren nicht mehr und die Exporte einbrachen.
China, das seine 1,95 Billionen Dollar an Währungsreserven hauptsächlich in Schuldpapieren der US-Regierung hält, solle seine Investments diversifizieren, um Risiken abzuwenden, sagte Premier Wen Jiabao erst letzte Woche, was durchaus für weitere Einkäufe im Rohstoffsektor sprechen würde.
Quelle: Rohstoffe-Go, Autor: (bj
Der nächste Widerstand ist 5,76 vom 4.11 08 was auch gleich ein neues 5-Monatshoch wäre.
Auf zu neuen Höhen
Zwischen knapp 2 Millionen und 2,75 Millionen.
Das Durchschnittvolumen: Avg Vol (3m): 942,075
Heute hatten wir das größte Volumen seit 5. Dezember 08.
Möchte ja wissen wer sich da eindeckt.
Weiß hier jemand mehr
Wettlauf um Rohstoffe: China und Japan horten Industriemetalle von Tobias Bayer (Frankfurt)
Mittwoch 25. März 2009, 17:55 Uhr
China und Japan nutzen tiefe Metallpreise - und stocken ihre strategischen Lagerbestände auf. Neben Kupfer kaufte das chinesische State Reserve Bureau (SRB) 5000 Tonnen Titan und 30 Tonnen Indium, sagte Norman Ting, Managing Director beim Metallhändler Wogen Pacific. Die Japan Oil, Gas and Metals National Corp. wiederum teilte mit, ebenfalls die Reserven an Industriemetallen erhöhen zu wollen.
Die Aktivität der beiden Länder unterstreicht, dass die jüngste Erholung bei den Metallpreisen nicht unbedingt auf konjunkturelle Hoffnungsschimmer ín den Vereinigten Staaten und China zurückzuführen ist. Stattdessen erscheint es wahrscheinlich
dass staatliche Reservekäufe die Notierungen zuletzt unterstützten. Besonders bei Kupfer und Aluminium ist das naheliegend: Derzeit kostet Kupfer an der Londoner Metallbörse London Metal Exchange (LME) 3945 $ je Tonne. Das ist fast so viel wie im November. Im vergangenen Jahr brach der Kupferpreis um 54 Prozent ein. Zu Jahresbeginn setzte eine Gegenbewegung ein.
Der alte Widerstand ist 5,76 vom 4.11 08 ist geknackt und wir haben ein neues 5-Monatshoch.
Hoffentlich gehts so weiter.
Tom Stundza -- Purchasing, 2/4/2010 11:37:40 AM EST
UBS Securities has revised upward copper price forecasts because it expects strong demand to meet supply problems in coming years. UBS now expects copper prices to average $3.80/lb this year and $3.90 in 2011. Copper cathode traded on the London Metal Exchange at $2.33/lb in 2009.
UBS previously has forecast a 2010 price of $3.30/lb so the new viewpoint is more bullish than the $3.22 projection by J.P. Morgan Securities, the $3.23 forecast from Bank of America/Merrill Lynch, the $3.25 outlook from Southern Copper of Peru, one of the world's largest copper producers, or the $2.93 projection of Germany's Commerzbank.
Chile's influential state copper think tank, Cochilco, expects the world copper average price for 2010 at $3.10/lb, followed by $3.20 in 2011.
"Copper is widely perceived as the most supply-constrained metal," UBS analysts say in a research note. "We would also tilt to the strong end of consensus on just how supply constrained copper is because our view is that the constraints on global copper supply are both cyclical and structural."
For this year, the Swiss bank expects copper demand to grow more than 10% to 19 million metric tons, leaving the copper market with a deficit of 600,000 metric tons-which it expects to rise to 800,000 metric tons in 2011.
http://mobile.purchasing.com/article/...xplosion_in_copper_prices.php
Quadra Mining Ltd. Announces 2009 Year End And Fourth Quarter Financial Results
http://www.quadramining.com/s/...-And-Fourth-Quarter-Financial-Res...
March 08, 2010
Quadra Mining Signs Memorandum Of Understanding To Create A Strategic Partnership With State Grid International Development Limited
http://www.quadramining.com/s/...nding-To-Create-A-Strategic-Partn...
updated 9:00 a.m. ET June 16, 2010
VANCOUVER, BRITISH COLUMBIA - Quadra FNX Mining Ltd. ("Quadra FNX" or "the Company") (TSX: QUX) announces that the memorandum of understanding ("MOU") entered into with State Grid International Development Limited ("SGID") (see Press Release dated March 8, 2010) expired on June 15, 2010; the parties were not able to conclude a definitive agreement for the formation of a joint venture (the "Strategic JV") prior to expiry of the MOU. As a result, Quadra FNX is no longer under an obligation to deal exclusively with SGID. The private placement of subscription receipts which closed on March 26, 2010 will also be unwound; the proceeds from the financing, and the Quadra FNX shares, which have been held in escrow pending formation of the Strategic JV, will be returned to SGID and Quadra FNX, respectively.
The Feasibility Study work to date has identified that a significant level of capital expenditure would be required in advance of receipt of project permits in order to meet the targeted completion date in 2013. These expenditures would be for long lead-time equipment and detailed engineering studies. SGID were not prepared to make this financial commitment prior to the receipt of all necessary permits. Quadra FNX and SGID are both open to discussions once the ongoing Feasibility Study has been completed and the permitting process is further advanced. In the meantime, Quadra FNX is free to engage and re-engage negotiations with other third parties, which have continued to express interest in the project.
Since the initial announcement of the SGID MOU, Quadra FNX has continued to advance the Sierra Gorda project. The Company is progressing the US$40 million Feasibility Study which is expected to be completed by year-end. The current estimate for total costs for the project, up to the commencement of production, remains in the US$2 billion range. In May 2010 the Company filed the Sierra Gorda Environmental Impact Study ("EIS"), which is a key step in the Chilean permitting process. The EIS includes a potential expanded project scope comprising an SX/EW operation and a phased expansion up to 190,000 t/d (from 110,000t/d) of sulfide copper ore. Quadra FNX has also obtained the necessary surface rights in the Sierra Gorda project area, and made material progress on the litigation cases.
Paul Blythe, President and CEO of Quadra FNX commented; "although we did not conclude the MOU with SGID at this time, we intend to remain on our previously stated development timeline. With the added financial flexibility provided through the Quadra FNX merger, and the re-incorporation of 100% of the Franke mine into our asset portfolio, we will be able to meet the immediate financial needs of the project. Based on our expectation that the permits are forthcoming, we will continue to procure and place orders for equipment in advance of completing the Feasibility Study and between Feasibility and the receipt of final project permits. Quadra FNX has a number of options to finance the project, and we intend to pursue all of them".
http://www.msnbc.msn.com/id/37727896
By: Liezel Hill
16th June 2010
TORONTO (miningweekly.com) – Canadian base-metals miner Quadra FNX Mining was unable to conclude a definitive agreement for a joint venture with Chinese utility giant State Grid International Development before a memorandum of understanding between the two expired.
But Quadra FNX said on Wednesday it has had from a number of other partners, and will now look into those negotiations.
Before its merger last month with rival FNX Mining, Vancouver-based Quadra Mining agreed in March to sell a stake of just under 10% in itself to State Grid, and to form a 'strategic joint venture' to develop and run Quadra's two Chilean assets.
The joint venture would have included the already-producing Franke copper mine, as well as the Sierra Gorda project, which Quadra had been looking for ways to finance.
Feasibility study work on the $2-billion project so far has indicated that a large portion of the total capital would need to be spent before the Sierra Gorda permits are received, if development is to be completed on schedule in 2013, Quadra FNX said on Wednesday.
Long-lead time equipment would need to be bought and detailed engineering studies completed, but State Grid was not prepared to commit the funds until all the necessary permits were received..
Although both sides are open to further talks once the feasibility study is completed and permitting is further along, Quadra FNX is no longer restricted by the exclusitivy agreement and can hold negotiations with other third parties, “which have continued to express interest in the project”, the company said.
Quadra FNX CEO Paul Blythe said on Wednesday that the company plans to stick to its original development timetable.
Between the added financial flexibility it gained by merging with FNX, and the fact that it will own 100% of the Franke mine instead of 50% in the State Grid joint venture, Quadra will definitely meet the immediate financial requirements for the Sierra Gorda project.
“Based on our expectation that the permits are forthcoming, we will continue to procure and place orders for equipment in advance of completing the feasibility study and between feasibility and the receipt of final project permits, Quadra FNX has a number of options to finance the project, and we intend to pursue all of them,” he said.
The $40-million feasibility study on Sierra Gorda should be completed by year end, and the firm still expects the total capital requirement to be in the $2-billion range.
An environmental-impact study was filed in May, and included a potential expanded project scope with a sulphur-extraction/electrowinning operation and a phased expansion up to 190 000 t/d of sulphide copper ore.
Shares in Quadra FNX slid 0,8% on Wednesday, to C$12,48 apiece in Toronto.
The company also operates the Robinson mine in the US, as well as copper and precious-metals operations in Sudbury, Ontario. Nickel-ore mining at the Sudbury mines has been halted, but the company said earlier this month it was examining what would be required to restart.
Edited by: Liezel Hill
http://www.miningweekly.com/article/...h-chinas-state-grid-2010-06-16
Company Name: Quadra FNX Mining Ltd.
Last Updated: August 12, 2010
Symbol: QUX
Date: 08/12/2010
Insider Buys Volume: 1,600
Insider Sells Volume: 0
Insider Buys Value $: 17,600.00
Insider Sells Value $: 0.00
Insider Buys Transaction: 1
Insider Sells Transaction: 0
Currency: CAD
http://www.tmxmoney.com/...e=en&Submit=Submit&QuerySymbol=qux
Industriemetalle:
Die LME-Kupfervorräte befinden sich seit ihrem Mitte Februar verzeichneten 6,5-Jahreshoch nahezu ununterbrochen im Sinkflug. Die Lagerbestände sind seither um 28% zurückgegangen und nähern sich mittlerweile der Marke von 400 Tsd. Tonnen. Auch an der SHFE liegen die Kupfervorräte nur noch bei etwas mehr als 100 Tsd. Tonnen. Der Abbau der Lagerbestände ist auf eine verstärkte Nachfrage zurückzuführen, die den globalen Kupfermarkt ins Defizit treiben könnte. In den ersten fünf Monaten befand sich der Kupfermarkt laut der International Copper Study Group noch im Überschuss. Dieser hat sich jedoch von 223 Tsd. in der Vorjahresperiode auf nun lediglich 46 Tsd. Tonnen verringert. Während die Nachfrage in diesem Zeitraum um 8,4% gestiegen ist, blieb die Minenproduktion nahezu unverändert. Jedoch dürften die gegenwärtig hohen Preise zur Angebotsausweitung führen. So berichtet Peru, dass die dortige Kupferproduktion allein im Juli um 6% auf 106,5 Tsd. Tonnen gestiegen ist.
...
http://www.boerse-go.de/nachricht/...uf-Verknappung-hin,a2281789.html
Risky to cut back capital spending
By Deborah Yedlin, Calgary Herald, August 28, 2010
http://www.calgaryherald.com/story_print.html?id=3454841&sponsor=
http://www.safehaven.com/article/18021/china-and-copper
"Trader Holds $3 Billion of Copper in London"
By Tatyana Shumsky and Carolyn Cui
The Wall Street Journal
Wednesday, December 22, 2010
http://online.wsj.com/article/...405274870411850457603408343693141...
As commodity prices soar to new records, the ability of a few traders to hold huge swaths of the world's stockpiles is coming under scrutiny.
The latest example is in the copper market, where a single trader has reported it owns 80% to 90% of the copper sitting in London Metal Exchange warehouses, equal to about half of the world's exchange-registered copper stockpile and worth about $3 billion.
The report coincided with copper prices soaring to new records on Tuesday. Commodities prices rallied along with stocks. The Dow Jones Industrial Average gained 55.03 points, or 0.48%, to 11533.16, its highest level since August 2008. Crude oil jumped to its highest level in more than two years and topped $90 a barrel in late electronic trading in New York. Corn and soybeans rose amid worries about hot weather in Argentina.
Copper soared to a new record of $4.2705 per pound on Tuesday in New York, and is up 28.3% this year. The LME's three-month copper contract closed at $9,353.50 a metric ton, up 1.6% on the day, a new record.
JP. Morgan Chase & Co. recently had a large position in copper, though it is unclear whether the U.S. bank increased its holdings, or whether a new player has taken dominant position.
"Regardless of who owns it, the only thing of note here is that we are being told that one person has a substantial position," said David Threlkeld, president of Resolved Inc., a metals consultancy.
Single traders also own large holdings of other metals. One trader holds as much as 90% of the exchange's aluminum stocks. In the nickel, zinc and aluminum alloy markets, single traders own between 50% to 80% of those metals and one firm has 40% to 50% of the LME's tin stockpiles.
While commodities exchanges scrutinize all holdings to ensure a single player isn't trying to corner the market, and many of the positions are owned by big firms on behalf of clients, the large holdings do result in a concentration of ownership that could skew prices.
At the same time, thousands of new investors are flooding into the commodities markets, either directly or through exchange-traded funds, seeking to take advantage of an expected rise in prices of raw materials as the global economy continues to recover.
While commodities regulators in the U.S. are considering restricting the amount of futures contracts any one trader can hold, they have no jurisdiction over physical holdings.
The LME has strict rules to prevent market squeezes but does not limit how much metal a single trader may hold. Instead, the exchange demands the dominant holder make metal available for short-term periods at very limited profit margins. The LME says it closely watches individual holdings.
Copper demand is likely to outstrip supply this year by an estimated 455,000 metric tons, says Barclays Capital. Copper inventories at the LME have been declining since February.
Consumption is growing rapidly in China, Brazil, and the U.S. And the creation of ETFs to hold physical metal is helping drive demand. On Tuesday, ETF Securities, a London-based provider, said that its newly-announced copper-backed ETF has added about 850.5 tons of copper, up 43%, to reach 1,445.5 tons.
Last month, the LME reported that a single holder owned more than 50% of the exchange's copper. People familiar with the matter at the time said J.P. Morgan was the holder. On Tuesday, the LME reported that a single holder now has as much as 90% of the stockpiles, without naming the firm. The LME reports data two days in arrears, so the position increased on Friday.
In the aluminum market, about 70% of the LME metal is locked up, MF Global base metals analyst Edward Meir said during LME Week in London in October.
LME aluminum stocks currently total around 4.3 million metric tons.
As one example, Swiss commodity trading firm Glencore International AG bought about 1.6 million tons of the metal from United Co. Rusal Ltd. earlier this year, market participants said at the time. Glencore then turned around and presold the metal. So even though the aluminum is sitting in LME warehouses, visible to all traders, it is effectively locked up.
These sorts of deals have skewed physical trading in these metals, as other consumers have paid increasing premiums to get hold of stocks, even though the metal looked like it was available in warehouses.
Holding ready-for-delivery metals on an exchange isn't a cheap undertaking for traders, who are responsible for paying insurance, storage and financing costs. And "the end game is to find somebody to buy something you have already bought for a higher price," Mr. Threkeld said.
The recent boom in metal prices has enabled traders to purchase the physical metal, sell a futures contract at a much higher price and still make a profit after paying for storage and insurance.
http://www.gata.org/node/9445
Standard Bank - Ongoing economic recovery underpins strong demand for copper
9 February 2011
Cape Town — The copper mining industry will not meet global demand for 2011 or next year because demand is growing faster than supply. The copper market is facing a widening deficit until new supply comes on stream in late 2013.
Walter de Wet, Standard Bank’s Head of Commodity Research says: "After last year’s deficit, we project the deficit to grow to 385,000 metric tonnes for 2011 and 562,000 for 2012, so clearly demand is growing faster than supply and will remain strong until 2013. This may result in global reported stocks drawing down to less than one week of consumption by end-2012. Even at that stage we don’t see demand falling, but rather a case of supply starting to catch up with demand as high prices stimulate new projects.”
China and other emerging markets especially in Asia are driving the increasing copper demand where pricing is projected to average US$9,200 per metric tonne in 2011 and US$10,000 per metric tonne in 2012. Asia currently accounts for 55% of total global demand.
Of all the base metals, copper has the most bullish outlook with tin a close second. Standard Bank has largely been accurate in correctly forecasting base metals. For instance, its forecast for copper of $7,375/ton average price throughout 2010 was just 2,2% short of the eventual actual figure of $7,543.
“If we look at the break-even copper price for the most marginal of mines, they’re all making good profits at the current level,” says De Wet.
“Fundamentals and strong investor interest are likely to keep prices on an upward path overall, though we expect there to be steep corrections and pauses for consolidation along the way. Volatility is likely to remain high.”
This will present interesting buying opportunities, he says.
The rising copper price is expected to parallel the growing commodity deficit, likely to reach a peak in 2011 during the second quarter with China in particular re-stocking, but with the most severely tight market occurring during 2012.
Supply remains constrained. New copper projects are at various stages of development, but considering they take 3-4 years to come on stream, they will not alleviate the deficit or affect the copper price during the next two years. These projects are in the major copper producing countries like Chile, Zambia, the Democratic Republic of Congo, Peru and China.
On the demand side, there is no let-up in the growing demand. “We’re continuing to see good growth in copper consumption from Asia, particularly China, and don’t expect to see any slowdown in this throughout 2011, and thereafter only a slight slowdown in 2012,” explains De Wet. In addition, current low demand from the US and Europe is expected to begin picking up later this year.
“These twin themes of strong infrastructure development in emerging markets, and a resumption in manufacturing growth in developed markets are strongly supportive of copper consumption and a rising copper price,” he adds.
Although austerity rather than stimulus will be the main theme in Europe this year, modest growth will nonetheless be driven by Germany. In addition, the US economy is carrying good momentum into 2011.
The big swing factor will be China, which is believed to be fairly destocked of copper. “The government’s infrastructure spend could be front-loaded within its current five-year plan, which means that we can still expect to see restocking in the first half of 2011,” explains De Wet.
http://allafrica.com/stories/201102090746.html