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Benjamin · 05-08-2006, 16:12

Na, ist nur eine normale Korrektur geworden - bis jetzt.

News: http://www.finanznachrichten.de/such...pper+OR+Kupfer

HANDELSBLATT, Freitag, 4. August 2006, 15:01 Uhr

Metalle

Chinesen brauchen mehr Kupfer und Alu

Der Rohstoffhunger der Chinesen findet keine Grenzen. Die Kupfer- und Aluminiumproduktion steigt voraussichtlich in diesem Jahr wieder deutlich. Der Bedarf nach Aluminium nimmt aber schneller zu als nach Kupfer.

...

http://www.handelsblatt.com/finanzen...u/2688984.html

Copper can still shine
Liliana Molina

August 05, 2006

BASE metal prices remained in limbo yesterday as the flagship copper price faltered after interest rate rises in Europe.

Copper rallied after a sharp fall caused by jitters surrounding rate rises by the European Central Bank and an unexpected 25 basis point hike in England.
It has tumbled 30 per cent from its historic high of around $US8800 per tonne in mid May.

Copper plunged 4.5 per cent to $7450 on Thursday but recovered 3 per cent to be trading at $US7680 yesterday.

The rate rises sparked concern of a global slowdown which would dampen demand for industrial metals and weaken prices .

A measure of six metals traded on the London Metal Exchange, including copper and zinc, lost 3.6 per cent.

Zinc on the LME was unchanged at $US3320 while nickel fell to $US24,000 as off-warrant nickel is likely to hit the market soon.

Aluminium on the LME fell slightly to $US2520 while zinc fell to $US24,200 and lead dropped to $US1100.

The lower sentiment was caused by unexpected 0.25 per cent interest rate rises by the European Central Bank and the Bank of England.

Rates in Europe rose to 3 per cent while the Bank of England unexpectedly raised rates for the first time in two years to 4.75 per cent.

All eyes will be on the US Federal Reserve on Tuesday to see if it again raises rates. But economists expect the Reserve will wait for the outcome of an employment data review before making any decisions.

Shanghai metals prices were affected by the rate rises.

Traders had already taken into account the threat of a strike at the world's biggest copper mine, BHP Billiton's Escondida in Chile.

Potential industrial action on Monday could lose 25,000 metric tonnes of production or 15-20 per cent of the world's production.

More significantly, it could spark industrial action at other copper mines in Chile, the biggest producer of copper in the world, as workers lobby for higher wages on the back of record company profits.

The global shortfall of copper despite other factors is expected to push the price up again.

"The situation in the metals can still support stronger prices and Thursday's weakness was more to do with thin trading conditions rather than a major change in sentiment," BaseMetals.com analyst William Adams said.

"Once the metals have had a chance to consolidate we would not be surprised if prices headed higher again.

"For copper to sell off ahead of a potential and likely Escondida strike is interesting, especially when the market is also suffering production shortfalls from Codelco."

Another interest rate rise in England is unlikely until the central bank releases its quarterly inflation report next week, Citigroup said.

05-08-2006, 16:12	#29
Benjamin TBB Family Registriert seit: Mar 2004 Beiträge: 10.374	Na, ist nur eine normale Korrektur geworden - bis jetzt. News: http://www.finanznachrichten.de/such...pper+OR+Kupfer HANDELSBLATT, Freitag, 4. August 2006, 15:01 Uhr Metalle Chinesen brauchen mehr Kupfer und Alu Der Rohstoffhunger der Chinesen findet keine Grenzen. Die Kupfer- und Aluminiumproduktion steigt voraussichtlich in diesem Jahr wieder deutlich. Der Bedarf nach Aluminium nimmt aber schneller zu als nach Kupfer. ... http://www.handelsblatt.com/finanzen...u/2688984.html Copper can still shine Liliana Molina August 05, 2006 BASE metal prices remained in limbo yesterday as the flagship copper price faltered after interest rate rises in Europe. Copper rallied after a sharp fall caused by jitters surrounding rate rises by the European Central Bank and an unexpected 25 basis point hike in England. It has tumbled 30 per cent from its historic high of around $US8800 per tonne in mid May. Copper plunged 4.5 per cent to $7450 on Thursday but recovered 3 per cent to be trading at $US7680 yesterday. The rate rises sparked concern of a global slowdown which would dampen demand for industrial metals and weaken prices . A measure of six metals traded on the London Metal Exchange, including copper and zinc, lost 3.6 per cent. Zinc on the LME was unchanged at $US3320 while nickel fell to $US24,000 as off-warrant nickel is likely to hit the market soon. Aluminium on the LME fell slightly to $US2520 while zinc fell to $US24,200 and lead dropped to $US1100. The lower sentiment was caused by unexpected 0.25 per cent interest rate rises by the European Central Bank and the Bank of England. Rates in Europe rose to 3 per cent while the Bank of England unexpectedly raised rates for the first time in two years to 4.75 per cent. All eyes will be on the US Federal Reserve on Tuesday to see if it again raises rates. But economists expect the Reserve will wait for the outcome of an employment data review before making any decisions. Shanghai metals prices were affected by the rate rises. Traders had already taken into account the threat of a strike at the world's biggest copper mine, BHP Billiton's Escondida in Chile. Potential industrial action on Monday could lose 25,000 metric tonnes of production or 15-20 per cent of the world's production. More significantly, it could spark industrial action at other copper mines in Chile, the biggest producer of copper in the world, as workers lobby for higher wages on the back of record company profits. The global shortfall of copper despite other factors is expected to push the price up again. "The situation in the metals can still support stronger prices and Thursday's weakness was more to do with thin trading conditions rather than a major change in sentiment," BaseMetals.com analyst William Adams said. "Once the metals have had a chance to consolidate we would not be surprised if prices headed higher again. "For copper to sell off ahead of a potential and likely Escondida strike is interesting, especially when the market is also suffering production shortfalls from Codelco." Another interest rate rise in England is unlikely until the central bank releases its quarterly inflation report next week, Citigroup said.