Tag Archives: commodity free trial

Copper prices above Dollar 7,500/t is an opportunity to short: Barclays

18 May

The potential for further short-term dislocations in refined supply as a result of these factors. Lower global IP levels are contributing to the tightness in scrap, though low prices have also been a major factor, so even a brief period of price strength should help to ease some of the tightness.

copper updates

LONDON (Commodity Online): There is further upside to the recent short covering in copper given positive demand signals from China and market positioning that is still short. And prices above $7,500/t is an opportunity to short copper, said Barclays in a report.

Despite subdued macro news and data flow, micro copper related data signals from China remain positive, with the import arb still open, physical premiums high, SHFE time spreads in backwardation, bonded and SHFE stocks falling and end-demand indicators expanding.

Check our commodity tips free trial

This should lend support to prices in the short term, though Chinese buying could start to run out of steam in July/August.

Despite strong growth in copper mine supply, refined supply has been lagging due to smelter disruptions and tight scrap supply.

Chinese smelters, which have become more reliant on scrap, recently announced up to 50Kt of production cuts as a result of scrap tightness.

The potential for further short-term dislocations in refined supply as a result of these factors. Lower global IP levels are contributing to the tightness in scrap, though low prices have also been a major factor, so even a brief period of price strength should help to ease some of the tightness.

“We have reduced the disruption allowance in our 2013 supply-demand balance by 0.5% to account for the loss from the Bingham Canyon landslide and the potential for lower disruption this year,” the bank noted.

“We would caution, however, that although copper supply is expected to be strong this year, the market is in danger of being complacent on this topic. Tighter scrap supply may to some extent offset strength in mine supply and lend support to prices, in our view,” Barclays concluded.

Sharetipsexperts provide accurate copper tips and updates which help traders to make good profit in copper trading. Click here to get accurate copper tips.

Commodity Tips for 4th April, 2013

4 Apr

Commodity-trading

Gold is in slightly bearish trend. Gold support is at 29050 and 28880; Resistance is at 29270 and 29400. Gold prices are expected to further ahead down till 29000. Sell on rise should be the strategy.

Silver is in slightly bearish trend. Silver support is at 50400 and 49800. Resistance is at 51700 and 52100. Silver prices are expected to trade weak till 50000, one can sell on rise.

Copper is in sideways trend. Copper support is at 400 & 396. Resistance is at 405 & 408. Copper prices are expected to test lower till 400-398, one could sell on rise.

Nickel is in sideways trend. Nickel support is at 875 & 863. Resistance is at 882 & 891. Nickel prices are expected to witness a sideways to down move. One can sell on rise around 885-890 with a stop loss above 900.

Crude is in sideways trend. Crude support is at 5170 & 5130. Resistance is at 5200 & 5240. Crude prices are expected to test 5100 on down side one can sell around 5200.

Get 100% sure Mcx gold tips India by www.sharetipsexpert.com