Salient to Investors: Hedge funds cut bullish commodity bets for a sixth straight week, the longest slump since the depths of the global recession four years ago, on mounting concern that economies are slowing. Investors turned bearish on copper for the first time since August. Morgan Stanley said weaker growth
READ MORE... →Salient to Investors: Justin Smirk at Westpac Banking focuses primarily on economic cycles, central banks and financial markets to make commodity predictions. He says: Industrial metals will rally through June 2013 as the economy strengthens in China. China’s economy is at a turning point both for policy and inventories, said We are at the worst
READ MORE... →Salient to Investors: CTFC said hedge funds et al cut combined net-long positions across 18 U.S. futures and options by the most since June 5 and for the fifth week, the longest slump since April. Gold wagers fell to the lowest since August. Adam De Chiara at CoreCommodity Mgmt said the tailwind
READ MORE... →Salient to Investors: Copper futures ended the longest slump in 14 years, on prospects for increased Chinese demand. Wang Zhongkui at Beijing Antaike Information Development said total Chinese demand may gain an average 6 percent a year from 2011 to 2015. Tobias Merath at Credit Suisse said there is a supply deficit, and Chinese
READ MORE... →Salient to Investors: Copper traders are the most bullish in a year versus the most bearish in four months a week ago. Hedge fund bets on a rally are near the highest in 14 months. Christin Tuxen at Danske Bank said the market has been way too pessimistic on China – China is will stabilize and avoid
READ MORE... →Salient to Investors: Copper traders are the most bearish since June 1 as growth slows from China to Europe. International Copper Study Group said supply will outpace demand in 2013, the first glut in four years, and the biggest in more than a decade. Goldman Sachs predict the surge in copper demand
READ MORE... →Salient to Investors: Copper bulls retreated for a third consecutive week on concern about weaker manufacturing from Europe to China. Christine Lagarde at the IMF expects weaker global growth than forecast in July. Filip Petersson at SEB says it will take time for stimulus to impact real demand, and sees poor data globally – industrial-metals
READ MORE... →Salient to Investors: Prior to 1965, dimes and quarters were made primarily of silver. Prior to 1982, pennies were composed of 95% copper. Nickels are 25% nickel and 75% copper. At today’s prices for copper and nickel, a dime is worth almost seven cents, though it is illegal to
READ MORE... →Salient to Investors: Mes Aynak in Afghanistan is one of the largest undeveloped copper deposits in the world as well as home to vast archeological ruins. Read the full article at http://www.npr.org/2012/09/24/161677990/foreign-policy-golden-buddha-hidden-copper?ft=1&f=1057&sc=igg2
READ MORE... →Salient to Investors: Concern is mounting that the government isn’t doing enough to bolster economic growth at a time when producers are expanding supply. Bloomberg survey median expects the S&P GSCI index to rise 3.1 percent by year-end. Barclays says the impact of QE will be smaller this time, says commodity assets under management
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