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Thursday, October 13, 2011, 12:54 PM Iron ore or iGadgets? A penny stock 10 years ago, Australian miner Fortescue has soared more than 50K%, fueled by China's insatiable demand for ore and is a symbol of the greatest mining boom since the gold rush. Asked about a possible slowdown in China, the CEO of highflyer Atlas Iron has no worries. "If China suddenly catches the flu, the whole planet's cactus anyway." Remarkable stuff. 3 Comments [Global & FX, Commodities]
Wednesday, October 12, 2011, 2:45 PM China reveals its copper inventories stood at 1.9M tons - roughly the amount the U.S. consumes in a year - at the end of 2010, nearly double what had been estimated, and suggesting demand for the metal there has been lower than assumed. It's a rare bit of solid data from Beijing, which usually keeps this info under wraps. 2 Comments [Global & FX, Commodities]
Wednesday, October 12, 2011, 10:27 AM Check out the remarkable moves in currencies (aussie +300 pips in 12 hours!) and key commodities starting right about the time China opened for business last night This rally may have little to do with Europe and everything to do with China showing signs of opening the spigots again. Chinese shares +3%. RE ETF: TAO +5.1%. Comment! [Global & FX, On the Move, Top Stories]
Wednesday, August 31, 2011, 3:40 PM The flip side of gold, economically sensitive copper had its worst month since May 2010, falling 6.4%. Of more interest than the final result is the volatility. The metal plunged 16.5% in the first 9 days of the month, with a strong rally for the remainder to end at the final result. Comment! [Commodities]
Tuesday, July 26, 2011, 4:50 PM Eying continued supply world supply shortfalls, Southern Copper (SCCO) plans to double its copper output by 2015 through a combination of new mines and expansion of existing. The firm's shares have completely bounced back from their hammering in the wake of Ollanta Humala's election victory in Peru. Comment! [Global & FX, Commodities]
Thursday, July 21, 2011, 7:22 AM The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a year, and the lowest reading in 28 months. Assets levered to hot Chinese growth - the Australian dollar and copper to name two - drop sharply on the news. Shanghai -1%. 3 Comments [Global & FX]
Tuesday, July 19, 2011, 12:23 PM Following a sharp spring swoon, copper continues a 3 week, 12% romp that has brought the price within shouting distance of its all-time high around $4.60. Fans say to ignore worries about economic slowdown, Dr. Copper indicates solid growth lies ahead. JJC +1.5%. 1 Comment [Commodities, U.S. Economy]
Thursday, July 7, 2011, 1:32 PM A breakdown in talks has led to a strike at Freeport-McMoRan's (FCX) Grasberg mine in Indonesia. It is the world's largest gold mine and a healthy supplier of copper too. Freeport shares are taking the news in stride, +4%. Gold is flat. Copper is in a world of its own. Comment! [Commodities]
Thursday, July 7, 2011, 11:47 AM Copper continues its remarkable run from last Monday when risk markets around the planet ended their slump. The metal is 9.4% higher in less than 8 sessions after tacking on 2.3% today. At $4.43/lb., copper is within sight of its all-time high around $4.60. JJC +2.4%. 1 Comment [Commodities]
Tuesday, July 5, 2011, 3:07 PM The scramble for stuff continues, China's Jinchuan Group bidding $1.36B for African copper miner Metorex, trumping VALE's $1.125B offer. VALE could come back with a better price, but its CFO dismisses the possibility. 1 Comment [Global & FX, Commodities]
Friday, July 1, 2011, 2:23 PM Dr. Copper +4% today, adding more fuel to the positive economic spin emanating after today's stronger-than-expected ISM report. Word that China may be holding interest rates steady is helping support prices. Copper futures for September delivery stand at $4.30/pound, up from $4.09 earlier this week. Comment! [Commodities, On the Move, Quick Ideas]
Tuesday, June 21, 2011, 7:19 AM Chinese May copper imports drop to a 30 month low, 47% below a year ago and 7% below April, as fabricators choose to draw down inventories instead of bringing in higher priced product. Given the PBOC's monetary tightening, analysts hedge expectations of the usual 2nd half rebound. Comment! [Commodities, Global & FX]
Wednesday, June 15, 2011, 8:05 AM A 50% fall in Chinese inventories over the past 2 months - from 600K tons to 300K tons - suggests the country will soon have to step up copper imports, giving support to the price. With much of the commodity sector having gotten hit lately, copper has held its own, suggesting this information is priced in. 1 Comment [Global & FX, Commodities]
Tuesday, May 31, 2011, 10:24 AM The latest installment of the BBC's Bubble Trouble series aims at the copper market, where inventory looks to be far higher than bullish analysts will admit. Even something as simple as counting copper in warehouses is a tricky exercise. Banks buying up warehouse firms opens up troubling conflicts of interest. Comment! [Global & FX, Commodities]
Wednesday, May 25, 2011, 8:51 AM Yesterday it was Goldman Sachs, today it's JPMorgan hawking the prospects for copper. "Demand is stronger than production," says the head of its global commodities group. Another bullish analyst notes inventories look to be rolling over, a bullish signal for the metal. JJC +1.5%, FCX +0.9% premarket. 5 Comments [Commodities]
Monday, May 23, 2011, 10:47 AM Partly behind copper's outsized drop today is a report from China showing its imports of the metal thru April are 29% less than the same period last year. The price of copper could be as vulnerable to a crackdown in its use in financing schemes as to a decline in economic activity. JJC -3.6%. 3 Comments [Commodities, Global & FX]

CU First Trust ISE Global Copper Index ETF

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First Trust ISE Global Copper Index ETF