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Sonntag, 11. Dezember 2016

Rohstoff- und Minenbranche: Der Wochenrückblick von Haywood

Werfen Sie einen Blick in den informativen Wochenrückblick von Haywood:

The Weekly Dig - December 9, 2016
Iron Ore Prices Continue to Surge

Highlights:

The iron ore rally continued this week, with the price of 62% iron fines reaching passing the $80 per tonne level for the second time in 3 weeks after briefly passing the $80 level in mid-November. Rebar prices have also soared, rising from $340 per tonne in mid-October to $480 per tonne on Friday. The rally has been largely attributed to strong infrastructure investment in China, as well as the country’s slowdown in supply growth, following Beijing’s decision to close 100 – 150 million tonnes of steel capacity through the end of the decade to increase profitability of remaining producers and tackle pollution. 

The election victory by Donald Trump also provided further momentum after the President-elect highlighted increased infrastructure spend in the U.S. as a key component of his election campaign. Equity indices have also risen significantly, with both the Dow Jones Industrial Average and S&P 500 Index reaching historic highs; the Dow broke through the 19,500 level (after passing the 19,000 level on November 23). The surge in base metals was a little more subdued this week; copper, lead and zinc rose 1%, 2.3% and 1.6% respectively, while nickel was unchanged for the. 

Meanwhile, the price of gold fell below the $1,160 level on Friday for the first time since February, with investors preparing for the Federal Reserve’s rate decision next week where a rate rise is assumed to be almost a certainty. Silver (up 1%), platinum (down 1.6%) and palladium (down 1.3%) also fell, finishing at $16.82, $913 and $733 per ounce respectively. WTI Crude prices pulled back this week after its 10% last week, finishing at $51 per barrel, while the UxC weekly spot price for uranium rose slightly to finish at $18.44 per pound.

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