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JJN vs. ETF Alternatives
The Dow Jones-UBS Nickel Subindex Total ReturnService Mark is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnService Mark and reflects the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the index plus the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The index includes the contract in the Dow Jones-UBS Commodity Index Total ReturnService Mark that relates to a single commodity—nickel (currently the Primary Nickel futures contract traded on the London Metal Exchange).
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Friday, Dec 272013, 4:29 AM
Friday, Dec 272013, 4:29 AM| 15 Comments
- The WSJ shines a light onto "shadow warehouses," a hidden system of facilities that store tens of millions of tons of aluminum, copper, nickel and zinc across the globe for banks, hedge funds and commodity merchants.
- The warehouses operate outside the London Metal Exchange's system, are unregulated, and don't provide details of their holdings. As a result, it's unclear how much metal is held in the shadow system. This lack of visibility could cause major price swings.
- The WSJ article follows allegations that warehousing companies have artificially boosted the price of metals, particularly aluminum.
- Companies that operate metals warehouses include Goldman Sachs (GS), Glencore Xstrata (GLCNF) and JPMorgan (JPM), although the latter is looking to sell its commodities unit.
- Relevant tickers include VALE, AA, AWC, KALU, MNSF, CENX, NOR, BHP, RIO, ACH.
- ETFs: DBC, JJC, DBB, DJP, GSG, RJI, GCC, USCI, CFD, JJN, JJT, BOM, RGRC, CPER, CTF, RJZ, GSC, LSC, GSP, JJU, DEE, BDD, BOS, JJM, DYY, DDP, DJCI, LD, CMD, BCM, CUPM, UCI, RGRI, UCD, UBM, FOIL, BDG, LEDD, CMDT, SBV, USMI, DPU, NINI, FTGC, CSCB, CSCR, HEVY
Monday, Jun 32013, 8:05 AMBeijing returns to metals. Maybe taking advantage of tumbling prices, or maybe showing confidence about the future, China's State Reserves Bureau has purchased base metals on the international market for the first time since the global financial crisis. The agency bought about 30K tons of nickel (JJN) - about one-sixth of LME stockpiles - according to sources, and has been making inquiries about copper (JJC). Other ETFs of note: LD, JJT. |Monday, Jun 32013, 8:05 AM| 3 Comments
Friday, Nov 162012, 9:32 AMIndustrial metals prices are set to rally into the middle of 2013, says Westpac's Justin Smirk, who has the hottest hand in forecasting of late. He's keeping it simple: Easy money in the U.S. and Europe will combine with a rebounding Chinese economy. Copper, zinc, nickel, and aluminum are all headed higher. |Friday, Nov 162012, 9:32 AM| Comment!
Wednesday, Feb 12012, 3:42 PMIndustrial metals enjoyed January's risk rally, with the basket of futures trading on the LME rising 10.9%, led by tin (JJT), up 26.5%. Looking to sink below $3/lb. 3-4 months ago, copper (JJC) has rallied all the way back to $3.84, and resurfaced bullish talk that there's just not enough of the metal being mined. |Wednesday, Feb 12012, 3:42 PM| 1 Comment
Friday, Sep 232011, 1:12 PMMicroscopic Fed rates and opaque information out of China have combined to distort the prices of industrial metals, but fundamentals such as years of rising stock/usage ratios are finally catching up. YTD: Copper JJC -28.5%, Lead LD -25%, Aluminum JJU -14.9%, Nickel JJN -23.7%. |Friday, Sep 232011, 1:12 PM| Comment!
Monday, Aug 82011, 1:11 PMCommodity prices get slammed as economic fears intensify with some metals breaking through what is seen as important technical levels. Any current projections for commodity prices now need to be wadded up and be given a fresh macro look. Leading the downward spiral: Steel SLZ -7.4%, Copper JJC -7%, Tin JJT -6%. |Monday, Aug 82011, 1:11 PM| Comment!
Tuesday, Jul 52011, 11:43 AMGoldman, JPMorgan and other securities firms are snapping up warehouse operators to take advantage of the big profit opportunities in holding metals. Warehousers collect a holding fee and can charge a premium on large corporate orders, but critics worry firms will exploit their trading knowledge. |Tuesday, Jul 52011, 11:43 AM| 9 Comments
Monday, Jun 132011, 11:30 AMThere's one commodity we have plenty of: nickel, reversing its rally on the biggest glut in four years. Prices could drop 12% to $20K/ton by year's end, and $15K is "entirely possible." Norilsk Nickel (NILSY.PK -0.9%) says that means its profits will be little changed this year. ETF: JJN -1.7%. |Monday, Jun 132011, 11:30 AM| Comment!
Tuesday, Feb 222011, 11:21 AM
Thursday, Feb 32011, 8:22 AM
Thursday, Jan 272011, 10:09 AMUnconcerned that China and India are tightening monetary policy, Jim Rogers sees commodities as a win/win investment. “If the world economy gets better, commodities are going to make a fortune. If the world economy does not get better, commodities are the place to be because they are going to print more money." |Thursday, Jan 272011, 10:09 AM| 4 Comments
Thursday, Jan 202011, 12:38 PMThe FTSE 100 -1.82% is the developed world's worst performing market today as worries about a crackdown on growth in China sink commodity prices. With its heavy weighting of resource stocks, the FTSE is "just an option on global growth." (RIO) -3.43%. (BHP) -3.02%. (TUWOY.PK) -4.01%. (XSRAY.PK) -5.45%. |Thursday, Jan 202011, 12:38 PM| Comment!
Tuesday, Jan 182011, 10:16 AM
Thursday, Jan 62011, 10:14 AM
Wednesday, Dec 292010, 2:46 PMCommodity bulls who base their bets on a perpetually fast-growing, commodity-guzzling China may want to reconsider. China's years of double-digit growth are behind it, and what growth there is will be less commodity intensive as the country relies more on consumption than investment. |Wednesday, Dec 292010, 2:46 PM| 5 Comments
Friday, Dec 102010, 8:19 AMIn echoes of 2008, commodities, many at multi-year or all time highs, appear to be an accepted asset class. "We are seeing investors flock to commodity resources," notes an analyst, "that pattern will continue regardless if prices move higher or lower." If they move lower? |Friday, Dec 102010, 8:19 AM| 6 Comments
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