Beiträge von GoldenCentury

23 Sep 2004 18:09
23.09.2004 18:01:34 Commodities News Summary

(For full story click on figures in brackets) TOP NEWS > Ivan heads to Texas as tropical storm [nN23251767]
MIAMI - The remnants of deadly Hurricane Ivan, which rampaged through the Caribbean and then into the U.S. Gulf Coast a week ago, killing more than 100 people, have reformed in the Gulf of Mexico as a tropical storm threatening the Texas or Louisiana coast.
- - - -
> Ops normal on Houston Ship Channel as Ivan approac [nN23106420]
HOUSTON - Operations along the Houston Ship Channel, the busiest U.S. petrochemical port, were normal early Thursday morning as Tropical Storm Ivan threatened the upper Texas Coast, according to the U.S. Coast Guard Houston Vessel Traffic Center.
- - - -
> CBOT Dec corn at new low for 10th straight session [nN23688383]
CHICAGO - Chicago Board of Trade corn futures sagged on Thursday, with December making a new contract low for the 10th straight session, on U.S. harvest pressure and reports of excellent yields, brokers said.
- - - -
> UPDATE 1-Europe gold spikes to one-month high [nL23628563]
LONDON - Gold spiked up to its highest in a month on Thursday in Europe, lifted by a firmer euro and worries on inflation as oil prices pumped higher, dealers said.
- - - -
METALS
> Bearish analysts see gold price back at $370/oz [nL23485245]
LONDON - Gold is more likely to turn tail and break back down to $370 an ounce than revisit 15-year highs before the year-end, technical analysts said on Thursday.
- - - -
> ANALYSIS-Codelco seen poised to set record premium [nL13166290]
LONDON - Chile's Codelco is likely to double annual copper cathode premiums for Europe next year, traders and analysts said on Thursday.
- - - -
> World copper deficit to nearly double in 2004 -ISC [nL2333275]
LONDON - The world refined copper market deficit was forecast to grow by nearly 90 percent to 701,000 tonnes in 2004 as growth in refined use outpaces production, the International Copper Study Group said on Thursday.
- - - -
> INTERVIEW-Hydro Aluminium sees strong rise in 2004 [n]
ESSEN - World aluminium demand will be up six to seven percent this year, with expansion in North America and Asia especially strong, said Jon-Harald Nilsen, president of Hydro Aluminium, part of Norwegian group Norsk Hydro (/NHY.OL).
- - - -
> Venezuela aluminum workers seek bonus accord-union [nN23626113]
CARACAS, Venezuela - Workers who had threatened to strike at Venezuela's largest aluminum smelter, Venalum, were close to an agreement to end their dispute over a bonus payment, union officials said Thursday.
- - - -
GRAINS, OILSEEDS, LIVESTOCK > Informa Economics sees US corn crop 11.4-11.5 bln [nN23263572]
CHICAGO - Informa Economics, formerly Sparks Cos., has told its clients that 2004 U.S. corn production could stretch to a record large 11.4 billion to 11.5 billion bushels, well above the USDA's latest forecast of 10.961 billion bushels, trade sources said.
- - - -
> Brazil could approve GMO soy planting decree-Lula [nN23247345]
SAO PAULO, Brazil - A new provisional decree to allow the planting and sale of genetically modified soybeans for Brazil's 2004/05 (Oct/Sept) harvest may be issued, President Luiz Inacio Lula da Silva said on Thursday.
- - - -
> Brazil corn exports slow on weak prices, firm real [nN23258560]
SAO PAULO, Brazil - Brazil's corn exports have lost their steam with the fall of international prices ahead of a bumper U.S. harvest and the recent appreciation of the Brazilian real against the dollar, analysts said.
- - - -
> Russia may export 8-10 mln T grain in 04/05 [nL23279898]
MOSCOW - Russia has increased its grain export forecast for the 2004/05 agricultural year to eight million to 10 million tonnes from a previous five million, Agriculture Minister Alexei Gordeyev was quoted as saying on Thursday.
- - - -
> Price fall is too late to save Ukraine wheat sales [nL23452865]
KIEV - A sharp fall in Ukraine's export feed wheat prices has come too late to boost sales after Ukrainian wheat lost its edge to producers such as Russia and Canada, analysts said on Thursday.
- - - -
> UPDATE 1-Turkey to tender Sept 30 to export 150,00 [nL23639585]
ANKARA - Turkey's state grain board (TMO) said on Thursday it would tender on September 30 to export up to 150,000 tonnes of durum wheat.
- - - -
> World's biggest flour mill set for Jakarta IPO [nJAK148012]
JAKARTA - The $1 billion Indonesian owner of the world's biggest flour mill is set for a successful IPO to raise funds to ease the debts of its parent, Indofood.
- - - -
SOFT COMMODITIES > L.America squares up for banana trade fight with E [nL23442473]
BRUSSELS - Ecuador, the world's leading banana exporter, will start informal talks with top EU officials next week on future import duties for the fruit and argue strongly against raising tariffs, diplomats said on Thursday.
- - - -
© Reuters 2004

23 Sep 2004 13:36

23.09.2004 12:55:35 Europe gold firms, targets resistance at $410

LONDON, Sept 23 (Reuters) - Gold edged up in Europe on Thursday morning, locked onto a firmer euro and indirect support from strong oil prices, with dealers looking for a possible test of resistance at $410 later in the day.

Spot gold rose to $407.75/408.50 per troy ounce by 1040 GMT from $406.75/407.50 quoted late on Wednesday in New York. The euro was last at $1.2321.

The euro held firm against the dollar, just off one-month highs scaled on Tuesday after a widely anticipated 25 basis point rise in the Federal funds rate to 1.75 percent.

But comments that both inflation and inflation expectations had eased, led many to believe borrowing costs in the United States will rise more slowly in the coming months -- making an investment in gold more attractive.

Stronger oil prices were also leading some analysts to cast doubt on a further rise in U.S. interest rates in November.

"We are quite well underpinned by dollar weakness and the oil price rally," one gold dealer said.

"The market has underperformed a bit recently, but we still remain within striking distance of this breakout area of $410-$411. I think we might see another assault on that today," he added.

Additional impetus could arrive early next month during International Monetary Fund meetings which some analysts say may give further clarification on the European Central Bank gold sales agreement.

The pact has limited official sales from its 15 signatories to 2,500 tonnes over five years and comes into being officially next week.

Some 1,700 tonnes of planned sales have come to light so far, but much confusion surrounds how and when some major sellers will act.

Platinum was marginally higher at $842.00/847.00 from $841.50/846.50 in New York.

Analyst CPM Group said on Wednesday the platinum market has a growing surplus of material this year as South African supply grew faster than demand from car and jewellery makers, but robust speculative interest in the metal kept prices near their highest level in decades.

CPM Managing Director Jeffrey Christian said the price could fall to $770/780 an ounce by year-end.

Palladium was at $208.00/213.00, compared with $204.50/210.50.

Silver moved up to $6.39/6.41 from $6.33/6.36 in the U.S. market.

23 Sep 2004 12:21

23.09.2004 12:14:33 Ölwirtschaft - Anschlag auf Inlandspipeline im Irak

Basra, 23. Sep (Reuters) - Saboteure haben am Donnerstag nach Angaben aus der irakischen Ölwirtschaft bei Nadschaf einen Anschlag auf eine Inlandspipeline verübt.

Der Öltransport über die strategisch wichtige Ölleitung sei eingestellt worden, hieß es. Sie verbindet die Ölfelder im Norden des Irak mit denen im Süden. Die Pipeline versorgt vor allem die Ölraffinerien im Irak und wurde in diesem Jahr bereits mehrmals Ziel von Sabotageakten. Aufständische haben wiederholt Anschläge auf die Öl-Infrastruktur des Landes verübt.

Die Ölexporte im Süden des Irak liefen nach wie vor mit fast voller Kapazität bei 1,9 Millionen Barrel pro Tag (1 Barrel = rund 159 Liter), sagte ein Makler. In Basra, dem wichtigsten Ölhafen des Irak, würden drei Öltanker beladen. Fünf weitere Tanker warteten auf ihre Abfertigung.

Über die Ölexport-Pipeline im Norden des Irak wurde in dieser Woche mit rund 225.000 Barrel pro Tag wieder aufgenommen.

seh/bob

© Reuters 2004

21 Sep 2004 20:23

21.09.2004 20:15:21 Fed erhöht Zins um 25 Basispunkte - Signal für weitere Anhebung

Washington, 21. Sep (Reuters) - Die US-Notenbank (Fed) hat den Leitzins am Dienstag wie an den Finanzmärkten erwartet zum dritten Mal in diesem Jahr um 25 Basispunkte angehoben und weitere moderate Erhöhungen signalisiert.

Der als Schlüsselzins geltende Zielsatz für Tagesgeld steige auf 1,75 Prozent, teilte der für die Geldpolitik verantwortliche Offenmarktausschuss (FOMC) der Fed nach seiner letzten Sitzung vor der US-Präsidentenwahl Anfang November mit. Die Fed bekräftigte, die Geldpolitik auch künftig in einem "maßvollen Tempo" straffen zu wollen. Mit dieser Formulierung signalisieren die Währungshüter seit einigen Monaten, dass die Leitzinsen in moderaten Schritten angehoben werden, um Inflationsgefahren während des Wirtschaftsaufschwungs vorzubeugen. Die Auf- und Abwärtsrisiken für die Preisstabilität und das Wirtschaftswachstum hielten sich in etwa die Waage, erklärte die US-Notenbank. Ende Juni hatte die Fed mit der ersten Erhöhung seit vier Jahren die Zinswende in den USA eingeleitet. Mit der erneuten Anhebung verteuert sich die Kreditaufnahme für Verbraucher und Unternehmen in der weltgrößten Volkswirtschaft.

phi/ast

Dollar wird trotzdem leicht getoastet (aktuell 1,2320, Gold zieht weiter an,die Minen gut im Rennen.....)

21 Sep 2004 19:40

21.09.2004 18:13:44 Commodities News Summary

(For full story click on figures in brackets) TOP NEWS > ANALYSIS-Investment funds whip up new peaks in met [nL21662578]

LONDON - A renewed influx of investment fund money, spurred by strong fundamentals and relative weakness in other financial markets, is pushing key industrial metals to new peaks, analysts said on Tuesday.

With supply tightening, three months aluminium on the London Metal Exchange (LME) jumped in active trade on Tuesday to $1,802 a tonne, its highest since April 21, while copper hit a five-month peak of $2,900.

- - - -

METALS
> AngloGold Ashanti says Obuasi mine "stabilising" [nL21535091]

JOHANNESBURG - The situation at AngloGold Ashanti's giant Obuasi mine in Ghana, where production has been disappointing, is now "stabilising", President Sam Jonah said on Tuesday.

The mine, the star operation of Ashanti Goldfields before it was taken over by AngloGold, posted production levels below expectations in the second quarter, mainly due to lower tonnages stemming from lack of equipment.

- - - -

> China nickel demand growth seen slowing [nL2170696]

PARIS - Chinese nickel consumption is forecast to rise to 152,000 tonnes in 2005 from 144,500 tonnes this year as the growth rate slows after five years of rapid expansion, an industry conference heard on Tuesday.

The rate of demand growth, at 7.4 percent between 2003 and 2004 and then five percent into 2005, compares with an average growth rate in the last 11 years of 12.5 percent, Xu Aidong of Beijing-based metals analysts Aintake said.

- - - -

> N.Hydro says raising Jamaica alumina after Ivan [nL21635151]

OSLO - The Alpart alumina refinery in Jamaica, with annual capacity of 1.65 million tonnes, has increased production since the weekend after damage from hurricane Ivan, co-owner Norsk Hydro (/NHY.OL) said on Monday.

Hurricane Ivan had halted production at the plant, which Norway's Hydro owns with Swiss-based commodities trader Glencore, a week ago after damaging the refinery's waste deposit area and port.

- - - -

> Codelco and union still distant in contract talks [nN2140814]

SANTIAGO, Chile - Leaders of a supervisors union at Chilean copper miner Codelco's northern division were still unsatisfied with the company's contract offer on Tuesday as a deadline for negotiations loomed.

The 750-member union -- one of several at Codelco Norte -- could potentially strike in early October if talks fail but Codelco officials have said that only a prolonged walkout would disrupt production because other employees can temporarily carry out some of the tasks normally done by the supervisors.

- - - -

GRAINS, OILSEEDS, LIVESTOCK
> Showers to slow harvest in western U.S. Midwest [nN2124083]

CHICAGO - Showers early this week will slow harvesting of the corn and soy crops in parts of the western U.S. Midwest, a private forecaster said Tuesday.

But "most of the rain will be in areas where they aren't harvesting much anyway. The east and the south is where most of the harvesting is and they look pretty much open," said Meteorlogix forecaster Joel Burgio.

- - - -

> Another cow tests positive for BSE in Japan [nT6418]

TOKYO - A holstein cow in western Japan tested positive for mad cow disease on Tuesday, a local official said.

The finding, if confirmed, would mark the 13th case of the brain-wasting illness in the country.

A 103-month-old holstein cow tested positive in Nara prefecture in western Japan, an official at the Nara prefectural government's food safety promotion section said, adding that further government testing was needed to confirm the results.

- - - -

> Egypt minister backs raising domestic wheat price [nL21450067]

CAIRO - Egypt's agriculture minister approved plans on Tuesday to raise the price paid for domestically produced wheat by 14 percent to boost local output, the official Middle East News Agency (MENA) reported.

It said Agriculture and Land Reclamation Minister Ahmed el-Laithi adopted the recommendations drawn up by a wheat committee that aimed to expand the area for wheat cultivation in Egypt, one of the world's biggest wheat importers.

- - - -

> ABB merger to form Australia's No.2 grain group [nSYD263479]

SYDNEY - The three-way merger of ABB Grain Ltd (/ABB.AX), AusBulk Ltd. and United Grower Holdings Ltd. that will assemble Australia's second-largest listed grains business will take effect on Sept. 27, the companies said on Tuesday.

Proposed earlier this year, the merger, on a scrip-for-scrip swap basis, will create a group with a market capitalisation of about A$850 million ($586 million) comprising Australia's largest barley exporter and a storage and handling network of 113 silos and seven export terminals.

- - - -

> Brazil gov suspends sale of 70,000 bags GMO cotton [nN2136950]

SAO PAULO, Brazil - Brazilian officials halted the sale of 70,000 bags of genetically modified cotton seeds, the Agriculture Ministry said in a statement released late Monday.

Commercial planting and sale of genetically modified cotton is forbidden in Brazil, and the authorities have been clamping down on the practice after finding genetically modified cotton in fields in southern Mato Grosso state.

- - - -

SOFT COMMODITIES > Brazil 05/06 coffee crop seen sharply lower-trader [nN21504452]

RIO DE JANEIRO, Brazil - Brazil's next coffee crop could fall sharply to around 34 million 60-kg bags from 41 million bags in 2004, due to a cocktail of factors, exporter Stockler said on Tuesday.

Production by the world's biggest producer is expected to drop more than expected due to a downturn in coffee's biennial production cycle, abnormal weather and lack of crop care.

- - - -

> Ivory Coast cocoa farmers welcome rains [nL21258161]

ABIDJAN - Cocoa farmers in Ivory Coast said on Tuesday heavy rains in parts of the country in the middle of September should bolster the coming 2004/05 main crop.

"It has rained a lot in the last week. The ground is soaked and I think it will strengthen the plants," said Mamadou Diallo, a farmer in the southern town of Divo.

- - - -

> EU misspent 3.1 bln euros of farm aid 1971-2002 [nL20279219]

BRUSSELS - European Union auditors uncovered fraudulent or misspent farm aid worth 3.1 billion euros ($3.79 billion) between 1971 and 2002, the EU's financial watchdog said on Tuesday.

Export refunds plus subsidies to fruit and vegetable farmers accounted for over half the missing aid, the European Court of Auditors said.

- - - -

© Reuters 2004

17 Sep 2004 18:21

17.09.2004 17:36:17 Commodities News Summary

(For full story click on figures in brackets) TOP NEWS > Egypt buys 295,000 T Argentine, French, US wheat [nL17638522]

CAIRO - Egypt's main official wheat buyer said on Friday he had bought 295,000 tonnes of Argentine, French and U.S. wheat for Oct. 15 to 31 shipment.

- - - -

> Australia fights biggest locust plague in decades [nSYD287458]

NARRABRI Australia - Australia has started battling its biggest plague of locusts in decades as billions of the insects hatch along a wide front covering much of the country's central east region.

- - - -

> Malaysia, Thailand to meet Tuesday on bird flu [nKLR242641]

KUALA LUMPUR - Officials from Malaysia and Thailand will meet next week to discuss how they can tighten border checks to prevent chicken smuggling, as both nations try to contain an outbreak of bird flu that is deadly to humans.

- - - -

> Europe gold flat, seen quiet ahead [nL17215654]

LONDON - Gold was mostly unchanged in Europe on Friday, after U.S. consumer sentiment data came in little changed, and traders expected quiet trade next week owing to public holidays in Japan.

Traders said they expected spot gold to stay in a $400-$408 range ahead of a meeting next Tuesday of the United States Federal Reserve to set interest rates.

- - - -

GRAINS, OILSEEDS, LIVESTOCK > Ukraine removes barriers to boost grain exports [nL17613973]

KIEV - Ukraine, which could export 10 million tonnes of grain in the 2004/05 season, has lifted all barriers on sales abroad to help traders boost exports, Deputy Prime Minister for Agriculture Ivan Kyrylenko said on Friday.

- - - -

> Ukraine ups winter grain area, sees 2nd bumper cro [nL17574800]

KIEV - Ukraine, breadbasket of the former Soviet Union, plans to boost the area sown to winter grain in 2005 and expects the country's second bumper grain crop in a row, a top official said on Friday.

- - - -

> AWB says has not signed wheat deal with I [nSP139912]

SYDNEY - Australia's monopoly wheat exporter AWB Ltd (/AWB.AX) said on Friday it had not signed a deal to export 800,000 tonnes of wheat to Iraq.

- - - -

> Russia bans China, Brazil meat over foot-and-mouth [nL17650478]

MOSCOW/SAO PAULO - Russia has partially banned live animals and meat product imports from China and Brazil citing concerns over foot-and-mouth disease, the Agriculture Ministry said on Friday.

- - - -

METALS
> Union says to strike at Harmony Gold on Tuesday [nJAT001115]

JOHANNESBURG - South Africa's National Union of Mineworkers said on Friday 8,000 workers would go on strike at some mines owned by Harmony Gold (/HARJ.J) next Tuesday.

A statement by the NUM listed several grievances, including what the union termed unsafe blasting practices and inadequate Christmas holidays.

- - - -

> Harmony Gold says union strike would be illegal [nJAT001117]

JOHANNESBURG - South Africa's Harmony Gold (/HARJ.J) said on Friday a planned strike by 8,000 members of the National Union of Mineworkers on Tuesday would be illegal because legal procedures were not followed.

- - - -

© Reuters 2004

17 Sep 2004 14:10
17.09.2004 13:55:02 TECHNICALS - COMEX/NYMEX metals technical indicators

GOLD SILVER PLATINUM PALLADIUM COPPER
DEC DEC OCT DEC DEC

Close Sept. 16 $406.50 $6.318 $842.3 $211.25 $130.15
High 407.80 6.355 850.0 212.25 130.90
Low 404.20 6.260 838.2 209.00 126.80

5-DAY M.A. 406.10 6.243 843.7 210.68 128.36
20-DAY M.A. 407.10 6.539 852.5 214.41 126.54
50-DAY M.A. 403.40 6.577 838.3 218.99 125.83

9-DAY R.S.I. 54.86 44.30 41.78 52.86 70.82
14-DAY R.S.I. 52.66 39.02 43.43 47.54 65.45
Note: Data calculated from previous close. Previous high and low include ACCESS trading from previous session. Indicators are based on the time periods recommended by their developers or commonly used by technical analysts. Moving averages are simple moving averages. RSI formulas include a smoothing factor utilizing an exponential moving average (EMA), determined to be the industry standard. All calculations can be made using Reuter Graphics or Reuter Technical Analysis products.

Contract High 436.50 8.480 915.00 345.00 132.50
Contract Low 290.00 4.440 750.00 203.50 74.20
First Notice Day Nov 30 Nov 30 Oct 01 Dec 01 Nov 30
Expiry Date Dec 29 Dec 29 Oct 26 Dec 27 Dec 29

BULLISH CONSENSUS ON September 14: 24 Month Range
Low Hi
Gold 74 from 70 on September 07 13 - 91
Silver 47 from 47 on September 07 13 - 89
Platinum 66 from 66 on September 07 14 - 95
Copper 72 from 71 on September 07 08 - 88
* Bullish Consensus, Copyrighted, Market Vane Corporation, P.O. Box 90490, Pasadena, CA 91109-0490. Phone +1 626 395 7436. The survey expresses a percentage of bullish sentiment among analysts and advisors. The company said 50 percent is considered support in a bull market and resistance in a bear market. Data are most recent available.

For prices, double click on: -2

For related news, double click on: [GOL] [MTL] [MET] [MIN] [GOL/X] [PLA/] [COP/X] [MINT] ["DLA"]

For updated CFTC Commitment of Traders report, double click on for the latest week's data and for the previous week's data. Futures/options data is on and .
---
© Reuters 2004

16 Sep 2004 18:07

16.09.2004 18:00:44 Philly-Fed-Index deutlich stärker gesunken als erwartet

New York, 16. Sep (Reuters) - Der Konjunkturindex der Federal Reserve Bank von Philadelphia ist im September deutlich stärker gesunken als erwartet.

Der Index habe auf 13,4 Punkte von 28,5 Zählern im August nachgegeben, teilte die Philadelphia Fed am Donnerstag mit. Von Reuters befragte Volkswirte hatten im Schnitt mit einem Rückgang auf lediglich 24,5 Punkte gerechnet. Der Dollar reagierte nach der Bekanntgabe mit Kursverlusten.

Zahlen über Null signalisieren ein Wachstum des Verarbeitenden Gewerbes der Region um Philadelphia im Osten der USA. Der Index gibt vergleichsweise verlässliche Hinweise auf die landesweite Entwicklung der US-Industrie.

akr/dud

© Reuters 2004

16 Sep 2004 17:53
16.09.2004 17:45:06 Commodities News Summary

(For full story click on figures in brackets) TOP NEWS > Europe gold eases on dlr reaction to U.S. data [nL16429482]
LONDON - Gold lost ground in Europe on Thursday, but losses were limited on the dollar's muted reaction to U.S. inflation data that suggested the Federal Reserve would stick to a measured pace of interest rate rises, dealers said.
Spot gold fell to $403.05/403.80 per troy ounce by 1453 GMT, compared with $404.25/405.00 quoted late in New York on Wednesday.
- - - -
> Malaysia boosts border watch to rein in birdflu [nKLR131340]
KUALA LUMPUR - Malaysia is sending more troops to its border with Thailand to check smuggling of chickens into northern Kelantan state, under quarantine for a bird flu virus that can kill humans, defence officials said on Thursday.
Around 40 extra soldiers will join the 400 Malaysian troops already deployed to watch border entry points into Kelantan, where thousands of birds were culled since the H5N1 strain of bird flu surfaced there last month, the officials told Reuters.
- - - -
> Vietnam reports 2 bird flu outbreaks, culls [nHAN227143]
HANOI - Vietnam has moved to stamp out two more bird flu outbreaks near the capital by culling about 600 sick chickens and ducks, an official said on Thursday.
Bird flu has killed 29 people in Asia this year, 20 of them in Vietnam, and experts fear it is so widespread it will take years to control.
- - - -
> Jamaica reports heavy crops losses after Ivan -U.N [nL16559831]
GENEVA - Jamaican farm ministry officials have reported heavy crop losses following Hurricane Ivan, including 60 percent of coffee and up to 15 percent breakage of sugarcane, the United Nations said on Thursday.
- - - -
GRAINS, OILSEEDS, LIVESTOCK
> French analyst revises up EU-25 grain crop [nL1597737]
PARIS - French analyst Strategie Grains on Thursday raised its forecast for EU-25 grain production this season to 281 million tonnes from 277.4 million last month, mainly due to larger-than-expected crops in Germany and Hungary.
The EU's soft wheat crop was estimated at 123 million tonnes, up from 121.5 million last month and 98.3 million last year. Germany's harvest was revised up 800,000 tonnes, it said.
- - - -
> Russia sees grain harvest at 76 mln tonnes [nL1655339]
MOSCOW, Sept 16 (Reuters) - Russia's 2004 grain crop will be at the top end of a previously forecast range of 73-76 million tonnes, Agriculture Minister Alexei Gordeyev was quoted as saying on Thursday.
- - - -
> Kenya funds $40 mln maize deal with c.bank [nL16136908]
NAIROBI - Kenya's government purchased $40 million of maize using central bank reserves on Thursday, despite traders' expectations that it would buy dollars in the market to fund the deal, government officials said.
- - - -
METALS > Squeeze play sends COMEX copper to one-month high [nN16402577]
NEW YORK - COMEX copper rose to a one-month high at the open on Thursday driven up by a surge in London prices that was triggered by an advance in the Asian market where a temporary supply squeeze sparked the rally, traders said.
- - - -
> China seen turning to become net importer of zinc [nHKG327902]
HONG KONG - China, once a major exporter of refined zinc, is becoming a net importer as domestic demand rises and industry sources say this could support the international price of the metal.
- - - -
> Jamaica alumina shipments affected for 2 months [nL16335910]
LONDON - Jamaican shipments of alumina could be affected for at least two months as ports used by domestic alumina refineries, recently damaged by Hurricane Ivan, will be shut for repairs, officials in Jamaica said.
- - - -
> Minor metals-Indium hits $800/kg, absorbs dip [nL16134043]
LONDON - Indium remained in demand this week, absorbing a bout of profit-taking, as the chronically-tight market hit the $800/kg level for the first time since 1939.
- - - -
> Kodak to close Australia plant, cut 600 jobs [nN16487729]
NEW YORK - Eastman Kodak Co.(/EK.N), the world's largest maker of photographic film, will close a Coburg, Australia, plant that makes color photographic paper at the end of November, cutting about 600 jobs and causing a $105 million charge.
- - - -
SOFT COMMODITIES
> Ivan benefits drought-stricken Cuban sugar crop [nN16500924]
HAVANA - Hurricane Ivan caused almost no damage to Cuba's sugar industry as it roared by the western tip of the island Monday, and the storm provided much-needed moisture to the drought-stricken crop, media reports and sources said.

extrel

Hier findest Du den Sprott-Report:
Sprott-Report

15 Sep 2004 14:57
15.09.2004 14:51:47 WRAPUP 1-Russia warns BP, YUKOS it can revoke oil licences

By Andrew Hurst
MOSCOW, Sept 15 (Reuters) - Russia warned on Wednesday that production licences of foreign and domestic oil companies can be torn up at will if the nation's fabulous natural wealth is not exploited on Moscow's terms.
Natural Resources Minister Yuri Trutnev said Russia was prepared to withdraw the production licence for one of British oil giant BP's (/BP.L) biggest projects in the country, the Kovytka gas field, within a month.
"The Resources Ministry will review the possibility of withdrawing the Kovytka licence within a month," Trutnev told Reuters in Irkutsk.
Although analysts believed it was highly unlikely the authorities would carry out the threat, they said it was a sign Moscow is prepared to lean on even the most favoured foreign investors if it feels it can extract better conditions.
BP last year acquired a 49 percent stake in Russia's fourth largest oil company, TNK, with the personal blessing of President Vladimir Putin. It established a joint venture, now called TNK-BNP.
Trutnev said the ministry was unhappy BP-TNK had failed to invest in infrastructure in the Kovytka field. Analysts say the real reason for the spat is that state gas concern Gazprom (/GAZPPE.RTS) wants a bigger role for itself in the venture.
Trutnev also turned up the heat on beleaguered Russian oil major YUKOS , saying it could be stripped of a licence held by its West Siberian unit Yuganskneftegaz, which alone produces one million barrels of crude a day, or 60 percent of YUKOS' output.
The muscle-flexing appeared to reflect a more uncompromisingly strident mood in the Russian leadership.
Earlier Foreign Minister Sergei Lavrov curtly told the United States to mind its own business after U.S. Secretary of State Colin Powell criticised Putin's plans to strengthen Kremlin power after a string of terror attacks in Russia.
"Russia is increasingly confident they can do what they want with their natural resources and will develop them on their terms," said Al Breach, an economist at UBS in Moscow.

SUKHOI LOG TENDER POSTPONED
Trutnev also said it would postpone a tender for rights to mine Siberia's vast Sukhoi Log gold deposit until next year and may bar foreigners from bidding.
"The new natural resources law .., will include an option to limit foreign participation in tenders for unique deposits -- such as Sukhoi Log and Ukokan (a copper deposit)," said Trutnev.
Trutnev's remarks followed Tuesday's announcement by state gas monopoly Gazprom (/GAZPPE.RTS) that it is to merge with a smaller state oil company, Rosneft, to create a government-run energy champion to vie with private firms which dominate Russia's oil industry.
"This could create a perception that the government is trying to increase its control over the (oil) sector," said Elena Anankina, an analyst at Standard & Poor's in Moscow, referring to Trutnev's remarks and the Gazprom-Rosneft merger.
Anankina said she doubted whether YUKOS, which has been ordered to pay nearly $7 billion in back taxes, would lose its Yugansk licence because of the technical difficulties in carrying through such an order without disrupting production.
"There is equipment on an oilfield and this belongs to someone. You can't just close down operators over night. It's tricky," she said.
Trutnev appeared determined to make clear that he was not making a hollow threat.
"Any decision to revoke the licence will cause no harm to the Russian economy, nor will there be any negative consequences in terms of lost oil production," he said. "For example there could be a transfer of management."
Wednesday's move appeared to be a final warning to a group of core shareholders in YUKOS, including its jailed former chief executive Mikhail Khodorkovsky, to surrender control or face the complete dismemberment of the company he created.
Bailiffs want to sell Yugansk to recover YUKOS's tax arrears and have hired investment bank Dresdner Kleinwort Wasserstein to put a value on the assets.
© Reuters 2004

Aus FAZ

Investor Devisen Übersicht

Devisenmarkt
Der Euro kann das günstige Chartbild noch nicht umsetzen

14. Juli 2004 Als der Euro am Ende der Vorwoche auf Kurse von mehr als 1,24 Dollar stieg, schien alles angerichtet zu sein für zügig weiter steigende Kurse. Denn bei diesem Kursniveau hinterließ das Chartbild einen sehr günstigen Eindruck.

Zumindest schien dadurch der Weg frei zu sein für einen Anlauf in Richtung des bisherigen Jahreshochs, das bei knapp 1,30 Dollar zu finden ist. Doch in den vergangenen beiden Tagen mußte die europäische Einheitswährung wieder einen kleinen Rücksetzer bis auf fast 1,23 Dollar hinnehmen. Dadurch läuft der Euro wieder Gefahr, in die zuvor gültige Seitwärtsbewegung zurückzufallen.

Handelsbilanz erweist sich als Stütze

Wieder etwas auf die Sprünge geholfen hat dem Dollar in erster Linie ein überraschend starker Rückgang beim amerikanischen Handelsbilanzdefizit. Denn das ist im Mai mit knapp 46 Milliarden Dollar etwas geringer ausgefallen als das Rekorddefizit von 48,1 Milliarden Dollar vom Vormonat. Die deutlich gestiegenen Exporte nährten natürlich gleich die Hoffnung, daß der im Jahresvergleich deutlich verbilligte Dollar-Kurs Wirkung zeigt und dabei hilft, das Defizit zu begrenzen.

Gewonnen ist dieser Kampf aber noch nicht, wie ein mit 231 Milliarden Dollar in den ersten fünf Monaten des Jahres höher als im Vergleichszeitraum des Vorjahres (208,7 Milliarden Dollar) ausgefallenes Handelsbilanzdefizit zeigt. Und nach dem Rekorddefizit von 496,5 Milliarden Dollar des Jahres 2003 gehen Experten ungeachtet der Entwicklung im Mai im Gesamtjahr 2004 weiter von einem neuen Rekorddefizit aus.

Kurshistorie nach Zinserhöhungen in Amerika spricht gegen den Dollar

Das Geschehen ist von Vorsicht geprägt, weil man erst auf neue Konjunkturdaten warten möchte und sich anhand dieser Zahlen dann ein besseres Bild von den weiteren wirtschaftlichen Aussichten in Europa und Amerika machen will.

Ein Problem stellt auch nach wie vor trotz der zuletzt überraschend guten Monatesdaten die Entwicklung im amerikanischen Staatshaushalt dar. Die Regierung von Präsident George W. Bush rechnet jedenfalls im laufenden Fiskaljahr mit einen Rekordfehlbetrag im Budget von 512 Milliarden Dollar. Bereits 2003 war mit 374,25 Milliarden Dollar das bis dahin größte Haushaltsdefizit in der Geschichte Amerikas entstanden.

Mit Leichtigkeit finden sich somit noch immer gute Gründe, die gegen den Dollar sprechen. Dazu zählt übrigens auch die Tatsache, daß der Dollar in den fünf großen Zinsanhebungszyklen seit den siebziger Jahren bis auf einmal in allen diesen Phasen im Jahr nach der ersten Zinsanhebung deutlich an Wert verloren hat. Und natürlich spricht auch trotz des jüngsten kleinen Kursrücksetzers auch grundsätzlich die Charttechnik weiter für den Euro. Zumindest ist der langfristige Aufwärtstrend solange intakt, wie die Einheitswährung nicht deutlich unter 1,21 Dollar zurückfällt.

Gesetzespläne könnten dem Dollar helfen

Dennoch bleibt abzuwarten, ob der Euro tatsächlich schon wieder ausreichend Kraft für einen nachhaltig Anstieg gesammelt hat. Selbst bei kurzfristig wieder steigenden Kursen würde im Bereich des bisherigen Jahreshochs bereits wieder eine sehr hohe Hürde warten.

Gebremst wird unterschwelig der Elan auch durch das in Amerika in der Diskussion befindliche Homeland Investment Act. Dieses Vorhaben beinhaltet die Möglichkeit von Steuervergünstigungen für die Repatriierung von im Ausland getätigten Anlagegeldern zurück nach Amerika.

Sollte dies tatsächlich beschlossen werden, dürfte dies auch am Devisenmarkt Wirkung zeigen. Schließlich haben Berechnungen zufolge alleine die im S&P 500 Index vertretenen Firmen rund 510 Milliarden Dollar an Gewinnen bei ausländischen Beteiligungen in den Büchern stehen. Davon könnten nach der Annahme mancher Experten schon in den nächsten zwölf Monaten 425 Milliarden Dollar zurückgebracht werden, was natürlich stützende Effekte auf den Dollar hätte. Aber das ist bisher noch Zukunftsmusik.

14 Sep 2004 14:40
14.09.2004 14:30:21 US-Leistungsbilanzdefizit im Quartal auf Rekordniveau gestiegen

Washington, 14. Sep (Reuters) - Das Defizit in der US-Leistungsbilanz hat sich im zweiten Quartal erneut ausgeweitet und ein Rekordniveau erreicht.
Der Fehlbetrag stieg auf rund 166,18 Milliarden Dollar nach revidiert 147,16 Milliarden Dollar im ersten Vierteljahr, wie das US-Handelsministerium am Dienstag in Washington mitteilte. Analysten hatten im Schnitt mit einem geringeren Anstieg auf 159,35 Milliarden Dollar gerechnet. Der größte Teil des Defizits ging den Angaben zufolge weiterhin vom Handel mit Gütern und Dienstleistungen aus.
Der Dollar reagierte zum Euro mit Kursverlusten auf die Daten. Das hohe US-Leistungsbilanzdefizit gilt als einer der Hauptgründe für die Schwäche des Dollar, da die USA zur Finanzierung des wachsenden Fehlbetrags immer mehr ausländisches Kapital benötigen.
bin/phi
© Reuters 2004

14 Sep 2004 14:41
14.09.2004 14:30:05 TABELLE-US-Einzelhandelsumsatz stärker gesunken als erwartet

Washington, 14. Sep (Reuters) - Der Einzelhandelsumsatz in den USA ist im August nach Daten des US-Handelsministeriums zum Vormonat um 0,3 Prozent gesunken und damit stärker als von Analysten erwartet. Das Ministerium veröffentlichte am Dienstag folgende Daten:

AUG 2004 JUL 2004

Einzelhandelsumsatz - 0,3 vH + 0,8 vH
(rev. v. + 0,7)

Einzelhandelsumsatz
ohne Automobilbranche + 0,2 vH + 0,3 vH
(rev. v. + 0,2)
ANMERKUNG: Von Reuters befragte Volkswirte hatten für den Berichtsmonat beim Einzelhandelsumsatz einen Rückgang von 0,1 Prozent erwartet. Ohne Berücksichtigung der Automobilbranche prognostizierten sie einen Anstieg von 0,2 Prozent.
fri/phi
© Reuters 2004

07 Sep 2004 20:20

07.09.2004 20:16:59 COMEX gold drops below $400 as longs liquidate

NEW YORK, Sept 7 (Reuters) - COMEX gold fell to a 3-1/2 week low Tuesday, and looked set for further losses, as investors scaled back risk protection plays after the peaceful passing of a long weekend and the Republican convention.

The euro did not move enough to provide direction, so traders returned from Monday's Labor Day holiday to take profits on long positions bought in gold's run to four-month highs in late August. Volatile silver dove to a six-week low.

"Consolidation has been the theme of today's New York trading session so far, as the yellow metal succumbed to long liquidation from a number of sources," wrote James Moore at TheBullionDesk.com.

December gold settled down $3.10 at $399.40 an ounce, trading from $404.50 to $398.70, its lowest price since Aug. 13. Estimated volume was a moderate 45.000 contracts.

The shakeout began with Friday's $5.50 drop after August jobs data were less discouraging than was braced for.

The unemployment rate fell to 5.4 percent in August, the lowest since October 2001, and nonfarm payrolls rose 144,000, near the predicted a 150,000 payrolls increase. After months of disappointing data, traders saw less standing in the way of another dollar-supportive Federal Reserve interest rate hike this month.

"Scaled down support, particularly from physical sources, has prevented further price pressure but with the dollar set to test higher following Friday's payroll data gold looks set for further pressure," Moore wrote.

Spot gold fell to $397.05/7.80 from Friday's late quote in New York at $400.15/90. London's afternoon fix Tuesday was $398.10.

"People were expecting precious metals to come off the boil after (there were) no problems last week, with the convention finished," said the chief dealer at a bullion trading firm. "Gold got a little ahead of itself."

He said he expected spot gold to weaken back to the $380s "comfort zone," where the it was trading before the rally which took spot to $414.05 and December gold to $416.80 on Aug. 20.

Factors like the weak dollar, and combat in Iraq, contributed to global political jitters and gold bullishness has not been vanquished. Last week's Republican convention in New York City passed uneventfully, although the nation remains on elevated terror alert before the November elections.

December silver , tumbled 35.5 cents to $6.235 an ounce. It traded from $6.625 to $6.205, its lowest price since July 28.

The bullion trader said negative supply/demand fundamentals were catching up with silver, which has fewer players than gold and frequently experiences larger price swings.

Spot silver fell to $6.16/19 from $6.54/57 late Friday. The fix was at $6.515.

October platinum went down $14.10 to $845.30 an ounce. Spot fetched $842.00/847.00.

December palladium eased $4.80 to $207.50 an ounce. Spot palladium was quoted at $206.50/212.50.

© Reuters 2004

Na,dann mach ich auch mal beim Monatsspiel mit!

02 Sep 2004 14:29

02.09.2004 14:26:32 FOKUS 1-Yukos - Behörden haben nun alle Konten eingefroren

Moskau, 02. Sep (Reuters) - Die russischen Behörden haben nach Yukos(/YUKO.RTS)-Angaben von einem Gericht den Zugriff auf alle Konten des angeschlagenen Ölkonzerns erhalten.

"Das legt die Produktionskapazitäten von Yukos lahm", teilte das Unternehmen am Donnerstag mit. Betroffen seien Bankeinlagen in Höhe von rund 76 Milliarden Rubel (etwa 2,1 Milliarden Euro), darunter nun auch alle Konten der Tochterfirmen. Yukos sei damit nicht mehr in der Lage, Rechnungen, Steuern oder Gehälter zu bezahlen. Dies könne zu Unruhen in den betroffenen Regionen führen, warnte der Konzern. Die Ölpreise zogen nach dem Bekanntwerden des Urteils spürbar an.

Yukos ist einer der größten Ölkonzerne des Landes und produziert etwa 20 Prozent der russischen Ölexporte. Trotz des seit Monaten währenden Steuerstreits mit den Behörden hatte das Unternehmen nach Daten des Energieministeriums zuletzt die Produktion ausgeweitet. Yukos hat wiederholt mit dem Konkurs gedroht. Die russischen Behörden fordern von Yukos Steuernachzahlungen in Dollar-Milliardenhöhe. Eine Frist zur Nachzahlung von 3,4 Milliarden Dollar für das Jahr 2000 war vergangene Woche verstrichen.

Wegen der Gerichtsentscheidung werde auch die Produktion der Töchterfirmen zum Erliegen kommen, teilte Yukos weiter mit. Ein Sprecher sagte, bislang seien nur die Konten des Mutterkonzerns eingefroren gewesen. "Als direkte, kurzfristige Auswirkung einer solchen Entscheidung wird es zu Spannungen in den Regionen kommen, in denen die Firma arbeitet", hieß es.

sws/phi

© Reuters 2004

Auf der Seite

http://robtv.com/shows/past_archive.tv

gibts ein interessantes Interview mit dem überraschend scheidenden Gründer u. CEO von Goldcorp.

Die "offizielle Begründung" für den Goldanstieg:

26 Aug 2004 13:50

26.08.2004 13:49:08 Europe gold moves up on Harmony mine strike

* Spot gold pushes up to intra-day highs on news that workers at Harmony Gold (/HARJ.J) Joel mine have been on strike since Tuesday. Spot erases losses to stand at $408.00/408.75 per troy ounce, up from $407.25/408.05 quoted late in New York on Wednesday. Earlier, market softened as easing oil prices calmed inflation fears.

* Silver hardly moving, indicated at $6.60/6.63, compared with $6.59/6.62 last quoted in the U.S. market.

* Platinum rises slightly to $850.00/855.00, compared with $847.00/852.00 last quoted in New York.

* Palladium stands at $213.00/218.00 from $210.50/216.50 in New York.

© Reuters 2004

Hier gibts ein Interview mit Embry:

[URL=http://www.mineweb.net/columns/american_notes/notfreenotfair.htm[/URL]

afm
Studie ist als pdf an Dich unterwegs...
Grüsse
GC