Montag, 25. April 2016

Rohstoff- und Minenbranche: Der Wochenrückblick von Haywood

Folgend der informative Wochenbericht von Haywood:

Industry Report

April 22, 2016 - The Weekly Dig
Mick Carew, PhD,
Haywood Mining Team

Commodity Prices Hold Firm Despite Persistent Bearish Calls

§  In previous editions of the Weekly Dig, we noted the guarded optimism surrounding the recovery of metal prices and mining equities. This reluctance to fully embrace the recent surge so far can be attributed the early-year correction in metal prices experienced in previous years since 2011, as well as negative commentary from some influential firms that suggest the rise in commodity prices since the beginning of 2016 is not supported by fundamentals in the physical markets. Certainly, the rise in the price of iron ore over the previous month has taken the market by surprise, with the May CME Iron Ore contract piercing $65 per tonne Thursday before closing $62 per tonne. However, despite calls from certain quarters that the run in commodities would only be temporary, with one prominent firm maintaining its short position in gold, prices have remained buoyant, albeit amid short-term volatility such as the 1.5% drop in the price of gold on Friday, closing at $1.234 per ounce (↓0.14%). It is clear that regardless of the fundamentals governing this year’s price surge in commodities, the duration and apparent sustainability of metal prices so far in 2016 is more significant than what was experienced in previous years. This was further reflected in the performance of the base metals, which continued their rise during the week, with copper, nickel, lead and zinc each finishing at $2.27 (↑4.26%), $4.11 (↑2%), $0.81 (↑4.5%) and $0.86 (↑2.1%) per pound respectively. Precious metals including silver, platinum and palladium also finished higher at $16.95 (↑4.3%), $1,009 (↑2.5%), and $566 (↑5%) per ounce respectively. WTI crude finished higher, closing at $43.75 per barrel. Finally, the UxC Weekly Spot Price of uranium finished at $27.75 (↑2.8%) per pound.

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