Freeport-McMoRan -- one of the cheapest companies in North America (Seite 9)
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Werte aus der Branche Rohstoffe
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 0,7405 | +33,42 | |
| 0,7400 | +20,01 | |
| 0,6800 | +19,30 | |
| 16,270 | +16,71 | |
| 1,2800 | +14,29 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 2,1700 | -7,80 | |
| 16.300,00 | -8,94 | |
| 2,6100 | -9,06 | |
| 0,5500 | -26,67 | |
| 30,55 | -30,88 |
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Antwort auf Beitrag Nr.: 65.751.900 von faultcode am 18.11.20 13:03:33
Antwort auf Beitrag Nr.: 65.639.004 von faultcode am 09.11.20 12:32:08
Quelle: FactSet, auch (average) estimates Q4 2020e + Q1 2021e
Quelle: FactSet, auch (average) estimates Q4 2020e + Q1 2021e
dafür fängt nun die gute Saisonalität bei Cu an:
Antwort auf Beitrag Nr.: 65.604.911 von faultcode am 05.11.20 13:12:526.11.
...
An unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said.
Australian media reported that Chinese importers have been informally warned by Chinese customs officials that a range of Australian goods, including copper concentrate, will be targeted for increased inspections from Nov. 6 amid a diplomatic row between the two countries.
The orders had already forced traders to divert some small shipments bound for China, two traders told Reuters on Friday. While Australia is not a big supplier of copper concentrate to China, the row comes as supplies from South America have been disrupted by the coronavirus epidemic which looks set to erode the bargaining power of smelters in China to buy for next year.
"On the face of it, the market tightens for the Chinese, so ultimately they will have to push their prices on the offer a bit lower to get that security of supply," said analyst Daniel Hynes of ANZ in Sydney. Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year's TC/RCs. "The timing couldn't have been worse. The one area that is not struggling with COVID-19 impacts to logistics is Australia, and that's the place they have banned.
The South Americans will use this as leverage," said a copper concentrate trader based in Australia. Chile and Peru are China's biggest suppliers. Spot TCs plumbed an eight-year low of $50.50 a tonne this week, a 30% drop from the 2020 high hit in March and well below the annual benchmark of $62 a tonne, Asian Metals data showed.
"The ban may drive the spot market lower for China. For the 2021 benchmark, a slide is fair but I think it will actually settle near $60 a tonne and 6 cents per pound," said a Singapore-based trader.
A second Australia-based trader forecast the benchmark in the mid $50s a tonne. DIVERSION In the short term, traders are scrambling to redirect Australian shipments. "If you had a ship full of copper concentrate floating offshore, you're rapidly trying to find a home," a second Australia-based trader said. Traders said Australian shipments meant for China could divert to Japan, Korea, India, or to blending facilities in Taiwan or Malaysia.
Australian producers of lead and zinc concentrates and precious metals are also making back-up plans in case the ban broadens, two traders said.
"We have no idea how long (this will last). It's subject to the relationship between governments," added a trader with a Chinese smelter.
The ban is expected to have only a limited impact on the Chinese concentrate market's supply-demand balance, as Australia accounts for just less than 5% of China's concentrate imports. Australia's two biggest copper producers, BHP Group and trading house Glencore , are also unlikely to be affected. BHP does not export copper concentrate and Glencore can divert material to its two smelters, each in Australia and the Philippines, they said.
Glencore and BHP declined to comment. China's copper concentrate imports China copper treatment charges slide to lowest in eight years
China's Australian copper ban seen hurting smelters in TC/RCs talks
https://www.kitco.com/news/2020-11-06/China-apos-s-Australia…
...
An unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said.
Australian media reported that Chinese importers have been informally warned by Chinese customs officials that a range of Australian goods, including copper concentrate, will be targeted for increased inspections from Nov. 6 amid a diplomatic row between the two countries.
The orders had already forced traders to divert some small shipments bound for China, two traders told Reuters on Friday. While Australia is not a big supplier of copper concentrate to China, the row comes as supplies from South America have been disrupted by the coronavirus epidemic which looks set to erode the bargaining power of smelters in China to buy for next year.
"On the face of it, the market tightens for the Chinese, so ultimately they will have to push their prices on the offer a bit lower to get that security of supply," said analyst Daniel Hynes of ANZ in Sydney. Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year's TC/RCs. "The timing couldn't have been worse. The one area that is not struggling with COVID-19 impacts to logistics is Australia, and that's the place they have banned.
The South Americans will use this as leverage," said a copper concentrate trader based in Australia. Chile and Peru are China's biggest suppliers. Spot TCs plumbed an eight-year low of $50.50 a tonne this week, a 30% drop from the 2020 high hit in March and well below the annual benchmark of $62 a tonne, Asian Metals data showed.
"The ban may drive the spot market lower for China. For the 2021 benchmark, a slide is fair but I think it will actually settle near $60 a tonne and 6 cents per pound," said a Singapore-based trader.
A second Australia-based trader forecast the benchmark in the mid $50s a tonne. DIVERSION In the short term, traders are scrambling to redirect Australian shipments. "If you had a ship full of copper concentrate floating offshore, you're rapidly trying to find a home," a second Australia-based trader said. Traders said Australian shipments meant for China could divert to Japan, Korea, India, or to blending facilities in Taiwan or Malaysia.
Australian producers of lead and zinc concentrates and precious metals are also making back-up plans in case the ban broadens, two traders said.
"We have no idea how long (this will last). It's subject to the relationship between governments," added a trader with a Chinese smelter.
The ban is expected to have only a limited impact on the Chinese concentrate market's supply-demand balance, as Australia accounts for just less than 5% of China's concentrate imports. Australia's two biggest copper producers, BHP Group and trading house Glencore , are also unlikely to be affected. BHP does not export copper concentrate and Glencore can divert material to its two smelters, each in Australia and the Philippines, they said.
Glencore and BHP declined to comment. China's copper concentrate imports China copper treatment charges slide to lowest in eight years
China's Australian copper ban seen hurting smelters in TC/RCs talks
https://www.kitco.com/news/2020-11-06/China-apos-s-Australia…
Antwort auf Beitrag Nr.: 65.604.050 von faultcode am 05.11.20 12:18:27auf der anderen Seite gibt's möglicherweise Druck aus Australien bei Kupfer:
3.11.
China to Halt Key Australian Imports in Sweeping Retaliation
https://finance.yahoo.com/news/china-halt-key-australian-imp…
...
China has ordered traders to stop purchasing at least seven categories of Australian commodities, ratcheting up tensions with a key trading partner in its most sweeping retaliation yet.
Commodities traders in China won’t be able to import products including coal, barley, copper ore and concentrate, sugar, timber, wine and lobster, according to people familiar with the situation. The government has ordered the halt to begin on Friday, one of the people said, asking not to be identified as the information is sensitive.
The notice was verbally relayed to major traders in meetings in recent weeks, one of the people said. Iron ore, Australia’s biggest export to China, won’t be included in the halt, the people said.
...
3.11.
China to Halt Key Australian Imports in Sweeping Retaliation
https://finance.yahoo.com/news/china-halt-key-australian-imp…
...
China has ordered traders to stop purchasing at least seven categories of Australian commodities, ratcheting up tensions with a key trading partner in its most sweeping retaliation yet.
Commodities traders in China won’t be able to import products including coal, barley, copper ore and concentrate, sugar, timber, wine and lobster, according to people familiar with the situation. The government has ordered the halt to begin on Friday, one of the people said, asking not to be identified as the information is sensitive.
The notice was verbally relayed to major traders in meetings in recent weeks, one of the people said. Iron ore, Australia’s biggest export to China, won’t be included in the halt, the people said.
...
Trading Spotlight
Antwort auf Beitrag Nr.: 65.489.189 von faultcode am 25.10.20 13:28:16noch ein Grund, warum der Kupferpreis z.Z. gut läuft:
4.11.
Chile's mining investment to lag while constitution rewritten, official says
https://www.nasdaq.com/articles/chiles-mining-investment-to-…
...
Chile's world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation, a senior mining official told Reuters.
"Hardly a project of a very large magnitude will be carried out in the next two years until there is clarity around the new constitution," Diego Hernández, president of Chile's National Mining Society (Sonami), said on Tuesday. "And I don't think it is necessary given supply-demand and the market at the moment."
Chileans last month voted overwhelmingly in favor of scrapping the country's dictatorship-era constitution, but the process of drafting a new one is expected to extend through 2022.
Several issues on the table could impact mining, from indigenous and collective bargaining rights to baseline rules that govern mining rights, environmental protections and worker benefits.
But Hernández, a former top mining executive, said the process was not "open season" for changes. Sonami, a trade group, represents mining firms including BHP BHP.AX, Anglo-American AAL.L and Antofagasta ANTO.L.
"Any arbitrary decision that Chile makes against foreign investment, against any (standing) commitment, will be very expensive decisions," he said, adding that extreme amendments to the new charter should be avoided because a two-thirds vote by the 155-member constitutional convention would be needed to approve it.
"If two-thirds wanted a radical change, it would have to be respected, but I do not think that is the case."
The timing of the constitutional rewrite coincides with a global lag in demand brought on by the coronavirus pandemic that will also weigh on investors' decisions, Hernández said, a one-two punch that is likely to put the brakes on new projects and proposals in Chile for an extended period.
Hernandez said clear rules around mining property and rights - seen as critical to the development of Chile's metals industry - must be maintained in the new constitution if the country is to maintain its world-leading position.
He added that top miners recognized that some changes were necessary to meet the demands of the people, but mining itself - the country's top economic driver and a major source of government tax income - must be protected.
"Chile cannot afford the luxury of dispensing with mining," Hernández said, defending the industry's record on hot-button areas like water use. "Mining can be done while respecting the environment."...
4.11.
Chile's mining investment to lag while constitution rewritten, official says
https://www.nasdaq.com/articles/chiles-mining-investment-to-…
...
Chile's world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation, a senior mining official told Reuters.
"Hardly a project of a very large magnitude will be carried out in the next two years until there is clarity around the new constitution," Diego Hernández, president of Chile's National Mining Society (Sonami), said on Tuesday. "And I don't think it is necessary given supply-demand and the market at the moment."
Chileans last month voted overwhelmingly in favor of scrapping the country's dictatorship-era constitution, but the process of drafting a new one is expected to extend through 2022.
Several issues on the table could impact mining, from indigenous and collective bargaining rights to baseline rules that govern mining rights, environmental protections and worker benefits.
But Hernández, a former top mining executive, said the process was not "open season" for changes. Sonami, a trade group, represents mining firms including BHP BHP.AX, Anglo-American AAL.L and Antofagasta ANTO.L.
"Any arbitrary decision that Chile makes against foreign investment, against any (standing) commitment, will be very expensive decisions," he said, adding that extreme amendments to the new charter should be avoided because a two-thirds vote by the 155-member constitutional convention would be needed to approve it.
"If two-thirds wanted a radical change, it would have to be respected, but I do not think that is the case."
The timing of the constitutional rewrite coincides with a global lag in demand brought on by the coronavirus pandemic that will also weigh on investors' decisions, Hernández said, a one-two punch that is likely to put the brakes on new projects and proposals in Chile for an extended period.
Hernandez said clear rules around mining property and rights - seen as critical to the development of Chile's metals industry - must be maintained in the new constitution if the country is to maintain its world-leading position.
He added that top miners recognized that some changes were necessary to meet the demands of the people, but mining itself - the country's top economic driver and a major source of government tax income - must be protected.
"Chile cannot afford the luxury of dispensing with mining," Hernández said, defending the industry's record on hot-button areas like water use. "Mining can be done while respecting the environment."...
auch ein Grund, warum der Kupferpreis z.Z. gut läuft:
19.10.
Workers at Chile´s Codelco protest layoffs amid coronavirus pandemic
https://uk.reuters.com/article/us-chile-copper-codelco/worke…
...Workers at Chile´s state-run Codelco, the world’s largest copper producer, took to the streets on Monday to reject layoffs announced by the sprawling mine company during the coronavirus pandemic.
Leaders of the Federation of Copper Workers, an umbrella group that represents the company´s unions, toted banners and chanted “No more layoffs in a pandemic” and “Enough of layoffs and persecution against women” outside company’s headquarters in the capital Santiago.
“It is not acceptable that Codelco, the principle [state-run] company in our country, execute mass layoffs,” the FTC said in a statement read during the protest. “It should be an example of protecting employment, today more than ever.”
...
19.10.
Workers at Chile´s Codelco protest layoffs amid coronavirus pandemic
https://uk.reuters.com/article/us-chile-copper-codelco/worke…
...Workers at Chile´s state-run Codelco, the world’s largest copper producer, took to the streets on Monday to reject layoffs announced by the sprawling mine company during the coronavirus pandemic.
Leaders of the Federation of Copper Workers, an umbrella group that represents the company´s unions, toted banners and chanted “No more layoffs in a pandemic” and “Enough of layoffs and persecution against women” outside company’s headquarters in the capital Santiago.
“It is not acceptable that Codelco, the principle [state-run] company in our country, execute mass layoffs,” the FTC said in a statement read during the protest. “It should be an example of protecting employment, today more than ever.”
...
Copper Watch List:
https://docs.google.com/spreadsheets/d/1s_bshBKJiBU96eTmItMH…
Die 1Y-Charts sind nett gemeint, brauchen aber etwas zum Laden...
https://docs.google.com/spreadsheets/d/1s_bshBKJiBU96eTmItMH…
Die 1Y-Charts sind nett gemeint, brauchen aber etwas zum Laden...
Antwort auf Beitrag Nr.: 65.320.925 von faultcode am 08.10.20 12:20:43Uuups!
https://tradingeconomics.com/commodity/copper
https://tradingeconomics.com/commodity/copper
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