The document provides an outlook and analysis of base metal prices for the coming month, including copper, aluminum, nickel, lead and zinc. It expects copper and aluminum prices to rise due to strong demand from China and a tightening supply. Nickel prices are also forecasted to increase on the back of rising global demand. Lead prices are predicted to decline due to surplus production. Zinc prices are estimated to trade higher due to a global deficit in supply.
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Plunging iron ore prices are providing a lifeline for some of China's biggest steel mills, but
raising the prospect of a rising tide of exports and increased friction with the European Union
and countries such as India.
Bullion counter may trade on positive path as weaker greenback and safe haven demand can give support to the prices. Meanwhile movement of local currency rupee will give further direction to the prices. Gold
can move in range of 29300-29700 while silver can move in range of 39000-40000 in near term. Gold
prices rose early on Monday, pulling further away from a two-month low, as fresh concerns over North
Korea's nuclear ambitions stoked safehaven demand for the precious metal and weighed on the dollar.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
During this week's Invast Insights we cover:
► Fundament drivers behind the Commodities
► The China slowdown effect
► The future of the Copper
GRAB A 4 WEEK INVAST INSIGHTS FREE TRIAL (WEEKLY NEWSLETTER)
http://invast.com.au/insights
CONNECT WITH INVAST TODAY
Facebook ► https://www.facebook.com/invastglobal
Twitter ► http://twitter.com/InvastGlobal
Linkedin ► http://www.linkedin.com/company/invast
Invast ► http://www.invast.com.au
Google+ ► https://plus.google.com/+InvastAu/
Gold prices fell by Rs 50 to Rs 25,958 per 10 grams in futures trade on Wednesday amid a weak global trend.At Multi Commodity Exchange, gold for October contacts fell by Rs 50, or 0.19%, to Rs25,958 per 10 grams in a business turnover of 354 lots.
Spot gold declined by 0.66 percent on Monday to close at $1270.7 per ounce while Indian markets were closed on 2nd October on account t of Gandhi Jayanti. MCX gold prices declines by 1.2 percent last
week to close at Rs.29557 per 10 gms. Stronger dollar on account of good economic data from the US
Ежегодный отчет PwC «Сделки слияния и поглощения в металлургической отрасли: ...PwC Russia
По последним данным ежегодного отчета PwC «Сделки слияния и поглощения в металлургической отрасли: взгляд в будущее», активность в области сделок в глобальном масштабе устанавливает новые рекорды, однако в металлургической отрасли рост сделок практически остановился.
Общая стоимость завершенных сделок в металлургической отрасли за последний год упала до самого низкого уровня, когда-либо отмеченного в серии ежегодных отчетов PwC. По сравнению с прошлым годом общая стоимость сделок снизилась на 32 % – с 16,8 млрд долл. США в 2014 году до 11,4 млрд долл. США в 2015 году. Это на 3,7 млрд долл. США меньше, чем в 2009 году, сразу после кредитного кризиса, и на 4,7 млрд долл. США ниже уровня 2003 года, когда был опубликован первый выпуск из этой серии отчетов с данными о сделках в металлургической отрасли.
Однако, несмотря на рекордно низкую общую стоимость сделок, их объем в целом сопоставим с уровнем многих прошлых лет, хотя и не дотягивает до пиков, которые мы наблюдали на рубеже десятилетия.
The euro is on track for its biggest weekly rise in a month as investors put political concerns on the back-burner and look ahead to a European Central Bank meeting at which it is expected to outline plans to unwind its huge stimulus programme.
Cover Story Outlook Of Non- Ferrous Metal
Corporate Credit FCNR(B) Loans
Business Trivia First self-made female millionaire
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Gold prices on Friday fell by Rs 320 to trade at Rs 25,050 per 10 gm and silver cracked the Rs. 34,000-level to trade at about five-year low at the bullion market here due to a weak trend in global market and slackened demand from jewelers and retailers.
Cobalt market forecast and cobalt stocks to buyChris Helweg
We noted that cobalt demand was, at a minimum, tracking its historic two decade
compounded annual growth rate of 6 percent, primarily due to accelerating consumption
in lithium-ion batteries used in portable electronic devices, electric vehicles and
stationary storage cells. With several battery megafactories under construction or
announced, including the Tesla Gigafactory in Nevada, we were confident the market
would transition into a supply deficit in 2016 or early 2017.
Plunging iron ore prices are providing a lifeline for some of China's biggest steel mills, but
raising the prospect of a rising tide of exports and increased friction with the European Union
and countries such as India.
Bullion counter may trade on positive path as weaker greenback and safe haven demand can give support to the prices. Meanwhile movement of local currency rupee will give further direction to the prices. Gold
can move in range of 29300-29700 while silver can move in range of 39000-40000 in near term. Gold
prices rose early on Monday, pulling further away from a two-month low, as fresh concerns over North
Korea's nuclear ambitions stoked safehaven demand for the precious metal and weighed on the dollar.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
During this week's Invast Insights we cover:
► Fundament drivers behind the Commodities
► The China slowdown effect
► The future of the Copper
GRAB A 4 WEEK INVAST INSIGHTS FREE TRIAL (WEEKLY NEWSLETTER)
http://invast.com.au/insights
CONNECT WITH INVAST TODAY
Facebook ► https://www.facebook.com/invastglobal
Twitter ► http://twitter.com/InvastGlobal
Linkedin ► http://www.linkedin.com/company/invast
Invast ► http://www.invast.com.au
Google+ ► https://plus.google.com/+InvastAu/
Gold prices fell by Rs 50 to Rs 25,958 per 10 grams in futures trade on Wednesday amid a weak global trend.At Multi Commodity Exchange, gold for October contacts fell by Rs 50, or 0.19%, to Rs25,958 per 10 grams in a business turnover of 354 lots.
Spot gold declined by 0.66 percent on Monday to close at $1270.7 per ounce while Indian markets were closed on 2nd October on account t of Gandhi Jayanti. MCX gold prices declines by 1.2 percent last
week to close at Rs.29557 per 10 gms. Stronger dollar on account of good economic data from the US
Ежегодный отчет PwC «Сделки слияния и поглощения в металлургической отрасли: ...PwC Russia
По последним данным ежегодного отчета PwC «Сделки слияния и поглощения в металлургической отрасли: взгляд в будущее», активность в области сделок в глобальном масштабе устанавливает новые рекорды, однако в металлургической отрасли рост сделок практически остановился.
Общая стоимость завершенных сделок в металлургической отрасли за последний год упала до самого низкого уровня, когда-либо отмеченного в серии ежегодных отчетов PwC. По сравнению с прошлым годом общая стоимость сделок снизилась на 32 % – с 16,8 млрд долл. США в 2014 году до 11,4 млрд долл. США в 2015 году. Это на 3,7 млрд долл. США меньше, чем в 2009 году, сразу после кредитного кризиса, и на 4,7 млрд долл. США ниже уровня 2003 года, когда был опубликован первый выпуск из этой серии отчетов с данными о сделках в металлургической отрасли.
Однако, несмотря на рекордно низкую общую стоимость сделок, их объем в целом сопоставим с уровнем многих прошлых лет, хотя и не дотягивает до пиков, которые мы наблюдали на рубеже десятилетия.
The euro is on track for its biggest weekly rise in a month as investors put political concerns on the back-burner and look ahead to a European Central Bank meeting at which it is expected to outline plans to unwind its huge stimulus programme.
Cover Story Outlook Of Non- Ferrous Metal
Corporate Credit FCNR(B) Loans
Business Trivia First self-made female millionaire
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Gold prices on Friday fell by Rs 320 to trade at Rs 25,050 per 10 gm and silver cracked the Rs. 34,000-level to trade at about five-year low at the bullion market here due to a weak trend in global market and slackened demand from jewelers and retailers.
Cobalt market forecast and cobalt stocks to buyChris Helweg
We noted that cobalt demand was, at a minimum, tracking its historic two decade
compounded annual growth rate of 6 percent, primarily due to accelerating consumption
in lithium-ion batteries used in portable electronic devices, electric vehicles and
stationary storage cells. With several battery megafactories under construction or
announced, including the Tesla Gigafactory in Nevada, we were confident the market
would transition into a supply deficit in 2016 or early 2017.
The Jain Group believes in a disciplined lifestyle where organizing and self discipline play large parts for the successful functioning of the company. Hence, we follow the 5S way of life for hundred percent productivity at work.
This is a slide deck I put together 2 years ago for a presentation that I gave to a group of engineers on how and why to integrate Social tools in the product development process.
The base metals with the biggest price gains in 2016 have
been the ones that underwent sizable production cuts in 2015,
especially zinc. The tailwinds behind precious metals that supported prices in 2016 will only grow in 2017.
Base metals prices & investing-opportunitiesChris Helweg
Table of Contents
Copper Trends 2017: Prices Up on Strong Demand and Short Supply
Copper Outlook 2018
Copper Forecast 2018: CEOs Bullish on Market .
Zinc Trends 2017: Prices at Decade High After Supply Crunch
Zinc Outlook 2018: Will Prices Continue to Rally?
Zinc Forecast 2018
Nickel Trends 2017: Deficit Expected on Supply Challenges.
Nickel Outlook 2018
Iron Outlook 2018
Lead Outlook 2018: Supply Tightness to Continue
Inhoudsopgave
Coppertrends 2017: stijging sterke vraag en korte levering
Copper vooruitzicht 2018
Voorspelling Copper 2018: CEO's Bullish on Market.
Zink Trends 2017: prijzen bij Decade High After Supply Crunch
Zinc vooruitzicht 2018: blijven prijzen stijgen?
Zinkvoorspelling 2018
Nikkeltrends 2017
Nickel vooruitzicht 2018
IJzer vooruitzicht 2018
Lood vooruitzicht 2018
Gold prices started the week with a huge leap forward on the back of host of supportive factors for gold at the moment. Spot gold edged higher towards $1336/ounce, highest in 42 weeks on Monday in Asia after the
North Korean nuclear test over the weekend. Earlier the weaker than expected nonfarm report on Friday
New outlook published by Argus for the battery materials sector.
Prices, news, trade data and global tracking of new resource projects from pre-feasibility to operation status for cobalt, lithium, manganese and nickel.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
2. Base Metals Monthly18th January 2017
Outlook
Base Metals: For the coming month, we expect base metal prices to trade on a positive side after
the Organization of Petroleum Exporting Countries are taking steps in-line with its promise to cut the
production by 1.2 million barrels a day. Since crude oil is a crucial component of input cost for metals, the
upside in oil prices will reflect in metals as well. Further, Chinese economy growing and manufacturing
activity across the globe on an optimistic side will keep the prices in positive territory. However, estimates
of a gradual hike in the interest rates by the US Federal Reserve will cap sharp gains in the prices.
Copper: Copper prices are expected to trade higher in the coming month as imports in China have
grown sharply in spite of depreciation in the Yuan. Further, greater infrastructure spending in China is
likely to keep demand robust for the metal. Moreover, expansion in China’s manufacturing and services
activity will lead to positive movement in the currency. However, the sharp upside will be capped due to a
stronger dollar and rise in LME stocks by around 32 percent on yearly basis. We expect MCX Copper prices
in the range of Rs.375/kg to Rs.430/kg.
Aluminum: We expect Aluminum prices to trade higher for the month as positive momentum in crude
oil prices will help upside in Aluminum prices. Another factor supporting the prices would be indications
that the Aluminum market will be tight going forward as some big aluminum producers have shut their
aluminum smelting units to seek a premium of $95- $110 per ton. We expect MCX Aluminum prices in the
range of Rs.115/kg to Rs.128.50/kg.
Nickel: We expect Nickel prices to trade higher on account of estimates of an increase in demand for
the commodity. Further, the rise in demand for the commodity from China along with increasing usage in
aerospace industry and in the battery sector will keep the prices in positive territory. We expect MCX
Nickel prices in the range of Rs.637/kg to Rs.741/kg.
Lead: For the month, lead prices are estimated to decline due to surplus production in the current year
and estimates of surplus production in coming months. According to International Lead and Zinc Study
Group (ILZSG) report, lead inventory is expected to rise in the near future thereby will keep the pressure
on the prices. We expect MCX Lead prices in the range of Rs.142/kg to Rs.170/kg.
Zinc: In the coming month, we expect zinc prices to trade on a positive side as a result of the global
deficit in the commodity. Further, drop in inventories of the commodity will lead to upside movement in
the zinc prices. Additionally, rising demand and fall in mine output will keep the prices in positive territory.
Moreover, cut in the production from giant mining companies will continue with positive movement in
the prices. We expect MCX Zinc prices in the range of Rs.167/kg to Rs.199/kg.
3. LME Copper prices plunged around 5 percent in
Dec’16 and 1.7 percent on Shanghai. On the
domestic bourses, prices dropped in tandem with
international markets by around 4.8 percent in the
previous month. However, on a yearly basis, the
red metal gained around 18 percent.
During the first half of 2016, Brexit referendum
was the most crucial event that global markets
were cautious and anticipated a REMAIN vote
victory. But to everyone’s surprise, LEAVE vote
received more support and the entire financial
markets came under pressure.
However, post the shock, copper still stayed strong
and in fact continuously gained for 5 days in a row
post the unexpected results.
The above factor reflects the importance which the
metal attaches to China, which was widely
expected to cut PBoC’s reserve requirement ratio
(RRR) several times or lower interest rates in order
to allay global markets.
Since China accounts for about 50 percent of
global copper consumption, the unfolding of
economic events in China has an immense bearing
on the metal prices.
While Chinese manufacturing and services activity
remained in expansion mode for most of 2016, the
worrying fact remained the sluggish economic
situation with respect to GDP, industrial production
and retail sales.
Coming to trade condition which was also not
favorable as Chinese imports till Nov’16 dropped
by 17 percent when compared to the entire
period in 2015.
Import figures reported a sharp improvement in
Nov’16 when compared to Oct’16 which was
seen not only in Copper but also other major
commodities. The reason for such improvement
due to boost by government infrastructure
building spree and housing rally.
A sharp weakening in the Yuan since its inclusion
in the SDR basket in Oct’16, too could not
discourage the imports much.
For the year of 2016, LME stocks have seen a
roller coaster ride with stocks declining by 22
percent in the first half and from there on gaining
to a whopping 66 percent in the second half
ending the year with a gain of 32 percent.
Interestingly, the very same LME warehouses
(Singapore, two South Korean ports of Busan and
Gwangyang and Kaoshiung in Taiwan) that led to
decline in the earlier half, contributed to record
additions in the second half, adding to
speculations that market moving stocks are
coming in from China given its vicinity from the
above mentioned warehouses.
A closer look at the LME Inventory shows the
cancelled warrants ratio which stood at 16
percent as on 31st Dec’15 jumped to 39 percent
on 30th Dec’16.
The surge in inventory was mostly at the South
East Asian warehouses indicating that more
stocks are to be taken out from warehouses,
mostly into China.
Peru’s copper mine production grew by more
than 34 percent to an estimated 2.2 million
tonnes in 2016, probably replacing China as the
biggest producer, second only to Chile.
Chinese mined Copper production likely to fall to
1.42 million tonnes. The reason for such a surge
in Peru’s Copper production is new mines and
expansion of existing ones.
Base Metals Monthly18th January 2017
Source: Bloomberg
-4.97%
-1.71%
-4.80%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
LMECopper SHFECopper MCX Copper
Copper Performance in Dec'16 (%)
4. LME Aluminum prices continued to remain under
pressure for second consecutive month in Dec’16.
Moreover, SHFE Aluminum prices plunged by more
than 3.3 percent during the same period. However,
on the domestic bourses downside pressure on the
commodity was less witnessed due to depreciation
in the Indian Rupee.
Aluminum had the best time in 2016, since 2009 as
the commodity gained by more than 12 percent.
The metal started the year around $1500/t mark,
made high of $1789/t in Nov’16 mainly supported
by crude oil price rally and commitment of
increased infrastructure spending by US President-
elect Donald Trump. However, during the
beginning of 2016, the light metal was dragged
down to $1449/t by falling oil prices, in turn pulling
down the production costs. This left various
smelters in the US and Europe with no other
option but to close down the smelters, rather than
continue unviable refining projects.
The biggest target was Alcoa’s Warrick Operations
smelter in Evansville, Indiana, which got closed by
the first quarter of 2016. The 269,000 tonne-per-
year smelter was just another addition to a string
of U.S. smelter curtailments as producers struggle
with tumbling prices. Warrick was the largest
operating aluminum smelter in the US, and its
closure left Alcoa with just one active smelter, the
130,000 tonne-per-year Massena West.
Further, Rio Tinto sold Lochaber, an aluminum
smelter in Scotland to industrial group Liberty.
However, the impact was not seen on the big
level since it is the smallest of nine smelters Rio
owns worldwide, and has an annual production
capacity of mere 47,000 tonnes of aluminum.
Smelter closures in the North America (US &
Canada) bought the Primary Aluminum
Production to a near 4 million metric tonnes
(mmt) in 2016 compared to a whopping 32 mmt
in China.
The turnaround in the Aluminum story came after
the news of probable crude oil output cuts to
contain the global supply slut.
Major volatility was seen in Sep’16 when the
Organization of the Petroleum Exporting
Countries agreed to cut output by 0.7 million
barrels per day (bpd) which was its first planned
output cut in almost a decade.
Crude oil prices surged as much as 50 percent
during 2016, which passed on some gains to the
light metal.
Base Metals Monthly18th January 2017
Source: Bloomberg
Source: Bloomberg
-2.25%
-3.32%
-0.94%
-3.5%
-3.0%
-2.5%
-2.0%
-1.5%
-1.0%
-0.5%
0.0%
LMEAluminum SHFEAluminum MCX Aluminum
Aluminum Performance in Dec'16 (%)
-10.93%
-8.60%
-9.59%
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
LMENickel SHFENickel MCXNickel
NickelPerformanceinDec'16(%)
5. LME Nickel and MCX Nickel prices plunged by more
than 10 percent and around 9.6 percent
respectively in Dec’16. Further, the silvery white
metal declined sharply around 8.6 percent on the
Shanghai futures in the month of December.
As per the latest International Nickel Study Group
(INSG) report, it is estimated that nickel usage will
continue to grow in both 2016 and 2017 due to the
increase in production of the austenitic stainless
steel grades in all major markets despite
challenging economic environment across the
globe.
Zinc, the silvery white metal, was the star
performer for the year 2016, beating the entire
commodities spectrum. The metal widely used
for Steel and Iron has given a spectacular
performance in 2016, gaining a whopping 60 and
63 percent on LME and MCX respectively, pushing
average Zinc prices up to $2100.8/t in 2016 from
$1939.34/t in 2015.
Glencore's announcement in Oct’15 that it will
cut 500,000 tonnes of annual zinc production,
equivalent to around 4 percent of global supply.
Owing to this, Glencore’s first half year
production in 2016 declined 31 percent to
506,000 tonnes.
Moreover, Horsehead Holding Corp, which is the
largest U.S. zinc producer, which has been
operating for around 150 years, filed for
bankruptcy on 2nd Feb’16 due to slump in metals
prices and a shortage of cash. The metal, which
was shining brightly, got a boost in Nov’16 after
Glencore’s Black Star mine in the Australian state
of Queensland was shut down.
The Swiss mining giant stated that the mine
began production in 2004 and has already
outlived its eight-year operational life. The Black
Star mine had produced around 40 million tonnes
of ore and 1.75 million tonnes of contained zinc
since opening in 2004. Following this
announcement, the metal shot to nine-year high
levels and touched around $2985/t.
China was not far behind either and ten largest
Chinese zinc smelters in Nov’15 said they would
cut refined zinc output by a combined 500,000
tonnes in 2016, equaling about 3.5% of global
production. However, the cuts never materialized
but so far China’s refined zinc output in Jan-Nov
’16 was in fact 1.2 percent higher year-on-year
and 3 percent up in 2016. Talking about imports,
Chinese imports of zinc contained in zinc
concentrates dropped by 44.5 percent to 631,000
mt in January-October, but the country's net
imports of refined zinc metal increased by 26
percent to 359,000 mt.
Base Metals Monthly18th January 2017
Source: Bloomberg
-14.74%
-18.17%
-15.42%
-20.0%
-18.0%
-16.0%
-14.0%
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
LMELead SHFELead MCXLead
Lead Performancein Dec'16(%)
-4.66%
-9.45%
-5.76%
-10.00%
-9.00%
-8.00%
-7.00%
-6.00%
-5.00%
-4.00%
-3.00%
-2.00%
-1.00%
0.00%
LMEZinc SHFEZinc MCXZinc
Zinc Performancein Dec'16(%)
6. SEBI Certified – Research Analyst www.choiceindia.com
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Base Metals Monthly18th January 2017
www.choicebroking.incustomercare@choiceindia.com
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Anish Vyas
Digitally signed by Anish Vyas
DN: cn=Anish Vyas, o=Choice Merchandise
Broking Pvt. Ltd, ou=Sr. Research Associate,
email=anish.vyas@choiceindia.com, c=IN
Date: 2017.01.18 11:54:45 +05'30'