UBS ETRACS CMCI Industrial Metals Total Return is designed to track the performance of the UBS Bloomberg CMCI Industrial Metals Index Total Return, less investor fees. The CMCI Industrial Metals TR measures the collateralized returns from a basket of five futures contracts representing the industrial metals sector. The commodity futures contracts are diversified across five constant maturities from three months up to three years.
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Wednesday, December 26, 2012, 6:48 PM
Can artificial scarcity continue propping up the aluminum market in the face of a production glut? Barclays predicts stockpiles will grow to 8.67M metric tons by the end of 2013. But with about half of all inventories possibly tied up in financing deals, many buyers are having trouble procuring supply, and analysts polled by Bloomberg expect prices to rise 14% next year. The EC recently said it's discussing the issue of premiums caused by financing deals.
Comment![Commodities, Quick Ideas]
Sunday, December 4, 2011, 4:56 AM
Graham Tuckwell, who created the first ETFs for gold and oil, is looking to sell his company, ETF Securities, for a potential price of £1B ($1.6B), the FT reports. Tuckwell's decision comes as money pours into gold ETFs and scrutiny increases on the market for the funds.
1 Comment[Commodities]
Friday, September 23, 2011, 1:12 PM
Microscopic 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%.
Comment![Commodities]
Monday, September 20, 2010, 2:23 PMCopper will be in short supply next year, so Goldman Sachs raises its rating on Freeport McMoRan (FCX +2.1%) to Buy, with a target price of $94, up from $79. Steel prices, however, will remain “range bound,” but Steel Dynamics (STLD -0.2%) is the “best positioned” U.S. steel maker. Ratings for U.S. Steel (X -1.6%) and Nucor (NUE -0.3%) are cut with lower estimates.
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