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Keyword: copper

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  • Ultrathin Copper-Oxide Layers Behave Like Quantum Spin Liquid

    06/10/2011 8:04:58 AM PDT · by decimon · 13 replies
    Brookhaven National Laboratory ^ | June 10, 2011 | Unknown
    Surprising discovery may offer clues to emergence of high-temperature superconductivityUPTON, NY — Magnetic studies of ultrathin slabs of copper-oxide materials reveal that at very low temperatures, the thinnest, isolated layers lose their long-range magnetic order and instead behave like a “quantum spin liquid” — a state of matter where the orientations of electron spins fluctuate wildly. This unexpected discovery by scientists at the U.S. Department of Energy’s (DOE) Brookhaven National Laboratory and collaborators at the Paul Scherrer Institute in Switzerland may offer support for the idea that this novel condensed state of matter is a precursor to the emergence of...
  • Copper commodities

    04/12/2015 8:28:54 PM PDT · by Hildy · 19 replies
    April 12, 2015 | Hildy
    Does anyone here have any knowledge of the commodity market? there seems to be a lot of activity with copper and I am interested to see what the professionals think about it, since I do live in the "COPPER STATE." Thanks in advance.
  • Copper Just Spiked (Dr Copper)

    03/23/2015 3:01:04 PM PDT · by blam · 11 replies
    BI ^ | 3-23-2015 | Akin Oyedele
    Akin Oyedele March 23, 2015 Copper just spiked. Copper futures by more than 5% rose to as much as $2.1945 a pound after the closing bell on Monday. That's the highest its been all year. There was no immediate news related to the rapid increase. Prices had been sliding, as China's economic woes meant that it was in less demand for construction. (snip)
  • Copper Commodity Price Technical Outlook (Dr Copper)

    02/23/2015 6:53:55 PM PST · by blam · 7 replies
    TMO ^ | 2-23-2015 | Austin Galt
    February 22, 2015 By: Austin Galt Copper got a bit of press attention recently with headlines of a plunge in price. This was in early January and I hadn't looked at the copper chart for a few days and I was gobsmacked when I did. A plunge they say?! What a load of baloney!! If that was a plunge then they are in for a big shock later this year if my analysis is correct. But let's not get ahead of ourselves. Let's start with the small picture and then come back to the big picture which will reveal the...
  • The Copper Heart of Volcanos

    02/12/2015 10:48:03 AM PST · by JimSEA · 24 replies
    Science 2.0 ^ | 2/10/2015 | News Staff
    The link between volcanism and the formation of copper ore could lead to discovery of new copper deposits. Copper has been in use for 6,000 years and it shows no signs of slowing down. The average home has about a hundred pounds of it and we are going to have more people and homes, not fewer. Volcanoes may be the answer. A research team led by Professor Jon Blundy of University of Bristol's School of Earth Sciences, studied giant porphyry copper deposits of the variety that host 75 percent of the world's copper reserves. Copper forms in association with volcanoes...
  • The Most Economically-Correlated Commodity Is Flashing Red (Lumber)

    01/22/2015 5:58:17 AM PST · by blam · 29 replies
    Zero Hedge ^ | 1-22-1015 | Tyler Durden
    Tyler Durden 01/21/2015 While Crude Oil and Dr. Copper are often cited as economic indicators, as @Not_Jim_Cramer notes, in fact Lumber prices are the most correlated with ISM and GDP of all industrial commodities. That is a problem. Lumber prices are tumbling and are breaking the 6-year up-trend that has 'proved' the recovery. With no CCFD manipulation and less financialization than crude, perhaps Lumber is the real canary in the economic collapse coalmine... Lumber is the most correlated to ISM and GDP of all the industrial commodities... and that is not good for the US economy...
  • BAML: Dr. Copper Is Shouting 'Sell' Chinese Stocks

    01/14/2015 3:10:05 PM PST · by blam · 9 replies
    BI ^ | 1-14-2015 | Myles Udland
    Myles Udland January 14, 2015Copper took turn for the worst on Tuesday night, falling more than 6% to below $2.50 per pound in New York, a fresh four-year low. In a note to clients on Wednesday, David Cui at Bank of America Merrill Lynch said this not sending a good signal to the white hot Shanghai stock market, which was the world's best performing stock market in 2014. Cui wrote that given the widespread use of copper in the Chinese economy, a drop demand — and a resulting drop in price — is often a good indicator of economic health...
  • Planned Arizona copper mine would put a hole in Apache archaeology

    12/13/2014 5:43:39 PM PST · by SunkenCiv · 34 replies
    Science ^ | 10 December 2014 | Zach Zorich
    A site on Apache Mountain, where Apache warriors plunged to their deaths to avoid the U.S. cavalry, may soon overlook a copper mine. Archaeologists and Native American tribes are protesting language in a Senate bill that would approve a controversial land exchange between the federal government and a copper mining company -- a swap that may put Native American archaeological sites at risk. The bill is needed to fund the U.S. military and is considered likely to pass the Senate as early as today. The company Resolution Copper Mining hopes to exploit rich copper deposits beneath 980 hectares of Arizona's...
  • 57 Affiliated Tribes of Northwest Indians Urge Senate to Nix Sacred Land Giveaway

    12/12/2014 3:34:29 PM PST · by Oldeconomybuyer · 24 replies
    Indian Country Today Media Network ^ | December 12, 2014 | by Gale Courey Toensing
    More than 70 tribal nations have urged the U.S. Senate to defeat or remove a section of the 2015 National Defense Authorization Act that would transfer a part of the publicly-owned Tonto National Forest that is sacred to the San Carlos Apache Tribe to a giant international corporation for a massive, environmentally devastating copper mine. “If such a land transfer provision seems out of place in a defense bill, that’s because it is. If the idea of transferring the ownership of federal forest lands to foreign mining companies seems absurd, it’s because that’s true, too,” said Fawn Sharp, President of...
  • Resolution Copper shaft is deepest in North America

    12/03/2014 10:11:45 AM PST · by JimSEA · 36 replies
    Arizona Geology ^ | 11/27/2014 | Lee Allison
    Shaft #10 at the Resolution Copper mine in Superior reached its final depth of 6,943 feet (2,116 m). The 28-foot diameter shaft is the deepest single lift shaft in North America, according to the company. [Right top, bottom of shaft #10. Photo credit, Resolution Copper] The Resolution mine would produce an estimated 25% of the nation's copper for the next 40 years once it's completed. [Right bottom, headframe for shaft #10. Photo credit, Nyal Niemuth] "The completion of this 1.3 mile deep vertical shaft is truly unprecedented in North America,” said Tom Goodell, General Manager of Shaft Development for the...
  • Backers of Alaska gold mine win court battle with EPA

    11/26/2014 8:54:14 AM PST · by jazusamo · 49 replies
    Fox News ^ | November 26, 2014
    On-again, off-again plans for the world's largest gold and copper mine could be back on again, after a federal judge in Alaska issued a preliminary injunction blocking the Environmental Protection Agency from its ongoing efforts to bury the project. Pebble Partnership, the Canadian company behind the project, which would take place near Anchorage, claims the regulatory agency has conspired illegally with opponents of the mine to devise scientific and environmental justifications for blocking it. Salmon fishermen in Washington state and Alaska, Native American groups and environmental organizations have opposed the massive project for several years, and had appeared to have...
  • Islamic State minting own currency

    11/16/2014 3:06:03 AM PST · by jmcenanly · 23 replies
    UPI ^ | Nov. 14, 2014 at 12:23 AM | Mary Papenfuss
    ALEPPO, Syria, Nov. 13 (UPI) -- Here's what every caliphate apparently needs: its own money, so Islamic State leaders plan to mint their own gold, silver and copper coins. The decision aims to remove Muslims from the "tyrant's financial system" and a global monetary operation "based on satanic usury," said a statement by the Islamic State's Beit al Mal, or treasury, and posted on websites used by jihadist movements. The exchange rate of the new currency — which will consist of seven coins — and where it can be found will be spelled out in a future statement. Unlike many...
  • Islamic State Group Says It Will Mint Its Own Coins

    11/14/2014 4:42:19 PM PST · by misanthrope · 25 replies
    Associated Press ^ | Friday November 14, 2014 5:02 AM
    CAIRO (AP) — The leader of the Islamic State group has ordered the terror organization to start minting gold, silver and copper coins for its own currency — the Islamic dinar. A website affiliated with the group posted the order late Thursday, saying IS leader Abu Bakr al-Baghdadi instructed his followers to mint the coins to "change the tyrannical monetary system" modelled on Western economies that "enslaved Muslims."
  • ISIS to mint own Islamic dinar coins in gold, silver and copper

    11/14/2014 10:25:45 AM PST · by Olog-hai · 7 replies
    Manchester Guardian ^ | Friday 14 November 2014 10.23 EST | Martin Chulov
    It has gathered its fortune through the tools of modern finance, but now Islamic State (ISIS) aims to mint its own coins. The move is reportedly the brainchild of the ISIS leader, Abu Bakr al-Baghdadi, who has personally overseen the design of gold, silver and copper coins of the Islamic dinar to be used in his self-declared caliphate—as soon as the terror group can locate a mint and enough precious metals. ISIS released designs of the coins and a breakdown of denominations. It claims the currency will free Muslims from a financial order that has “enslaved and impoverished” them. But...
  • ISIS Unveils Its New Gold-Backed Currency To Remove Itself From "The Oppressors' Money System"

    11/13/2014 8:32:33 AM PST · by Rusty0604 · 45 replies
    Zerohedge ^ | 11/13/2014 | Tyler Durden
    . It appears the rumors are true. Islamic State is set to become the only 'state' to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate. ISIS says the new currency will take the group out of "the oppressors' money system." As Zaid Benjamin notes, ISIS releases details of its new currancy with golden 1 & 5 dinar, silver 1, 5, 10 dirham and copper 10 & 20 fils It seems Alan Greenspan may have been on to something after all... "Remember what...
  • Chilly Record! Coldest Object on Earth Created in Lab

    11/02/2014 6:06:57 AM PST · by gusopol3 · 45 replies
    Live Scince ^ | October 29, 2014 | Kelly Dickerson
    A chunk of copper became the coldest cubic meter (35.3 cubic feet) on Earth when researchers chilled it to 6 millikelvins, or six-thousandths of a degree above absolute zero (0 Kelvin). This is the closest a substance of this mass and volume has ever come to absolute zero. Researchers put the 880-lb. (400 kilograms) copper cube inside a container called a cryostat that is specially designed to keep items extremely cold. This is the first cryostat built that is capable of keeping substances so close to absolute zero.
  • Arizona Mining Review

    10/31/2014 8:39:13 AM PDT · by JimSEA · 2 replies
    Arizona Mining Review ^ | 10/29/2014 | Floyd Grey
    This month’s Arizona Mining Review includes several interesting topics. Of particular note are: Mining copper at 7000 feet down (0:40). Interview with Floyd Gray, United States Geological Survey: September Rains and Mining Runoff in the Patagonia Mountains, Southeastern Arizona (15:07).
  • On The Coming Collapse Of Copper

    10/25/2014 10:47:46 AM PDT · by blam · 29 replies
    Zero Hedge ^ | 10-25-2014 | Tyler Durden
    Tyler Durden 10/25/2014 18 months ago we first brought the world's attention to the end of what has now been exposed as among the largest ponzi schemes in history - the Chinese Commodity Financing Deals (CCFDs) - pointing out how this meant commodities like copper were likely to come under pressure as firms liquidate what minimal holdings they had (and sell out futures hedges) to manage the risk of unwinds in these quasi-collateralized deals. Since then, copper prices have indeed plunged, as has global growth expectations and global bond yields as a realization that 'demand' implied by previous prices was...
  • Copper thieves strike Rosa Parks’ historic Alabama apartment: police

    08/27/2014 1:19:08 PM PDT · by artichokegrower · 26 replies
    New York Daily News ^ | August 27, 2014
    Thieves have struck the apartment complex where Rosa Parks lived when she made history by refusing to give up her seat to a white person on a city bus in Montgomery, Alabama, police said Tuesday. Detectives are seeking suspects who ripped and stole copper wiring from Parks' former apartment and several other now-vacant units being renovated, Montgomery police Sgt. Denise Barnes said. Workers discovered the thefts Monday. Police believe the crimes happened between 4 p.m. Friday and Monday, Barnes said. "Vandals came in and pilfered it. They went in and tore out the walls and they stole the copper pipes...
  • Copper Surges To 4-Month High

    06/30/2014 10:33:37 AM PDT · by blam · 12 replies
    Zero Hedge ^ | 6-30-2014 | Dennis Gartman
    Tyler Durden 06/30/2014 Copper has rallied almost 6% in the last few weeks with a 1.25% surge today sending the 'economic' metal back to near 4-month highs. This must means demand is picking up, right? This must mean the world is ok, right? Chatter is that this morning's home sales 'noise' surprise spike was the catalyst but it appears much more likely that a combination of a continued squeeze of a very-extended spec short position and the ongoing unwind of China's commodity-finance-deals is the real catalyst. As the market comes to terms with synthetic demand (CCFD unwinds buying back hedges)...
  • China state copper firm chief jumps to his death following corruption allegations: report

    06/25/2014 3:28:10 PM PDT · by dynachrome · 13 replies
    South China Morning Post ^ | 6-25-14 | unattributed
    The head of a US$2 billion Chinese copper producer fell to his death from a building, the firm announced on Wednesday, with a state-run newspaper claiming he committed suicide following corruption allegations. The chairman of state-owned Tongling Nonferrous Metals Group, Wei Jianghong, died on Tuesday after falling off a building, the company said in a statement. A string of officials have killed themselves in recent months, with speculation linking some to a crackdown on graft launched by President Xi Jinping after he took office last year. State-run media said Wei jumped from a hotel owned by the company in Tongling,...
  • Metal thieves pillage French wind turbines

    06/03/2014 7:21:56 AM PDT · by csvset · 18 replies
    France24 ^ | 2014-05-28 | Louise Nordstrom
    A sophisticated network of metal thieves has targeted some 20 French wind turbines in a new looting trend, scaling the near 40-metre-high structures and stealing up to one tonne of metal from a single engine, Le Figaro reported Wednesday. Citing an anonymous police source, the daily newspaper said the ring stole metal from wind farms in sparsely populated areas, where they had less chance of being caught. “They cut the power to turn off the engine propeller motor,” the officer said, noting the thieves broke through the doors at the bottom of the turbines, before using the stairs to reach...
  • Gold Is Having Its Worst Day Since The Day Of The Taper

    04/15/2014 5:48:07 AM PDT · by blam · 36 replies
    BI ^ | 4-15-2014 | Joe Weisenthal
    Gold Is Having Its Worst Day Since The Day Of The Taper Joe WeisenthalApril 15, 2014, 8:30 AMGold is getting smoked today. Worst day since December, when the taper was first announced.
  • Hybrid copper-gold nanoparticles convert CO2 (To Hydrocarbons!)

    04/11/2012 8:26:05 AM PDT · by Red Badger · 59 replies
    http://phys.org ^ | 04-11-12 | Jennifer Chu - Provided by Massachusetts Institute of Technology
    Copper -- the stuff of pennies and tea kettles -- is also one of the few metals that can turn carbon dioxide into hydrocarbon fuels with relatively little energy. When fashioned into an electrode and stimulated with voltage, copper acts as a strong catalyst, setting off an electrochemical reaction with carbon dioxide that reduces the greenhouse gas to methane or methanol. Various researchers around the world have studied copper’s potential as an energy-efficient means of recycling carbon dioxide emissions in powerplants: Instead of being released into the atmosphere, carbon dioxide would be circulated through a copper catalyst and turned into...
  • Now U.S. copper mines under attack

    03/31/2014 7:22:43 PM PDT · by DannyTN · 51 replies
    WND.com ^ | 07/13/2013 | WND Radio
    80 billion lbs. of metal could 'wipe out American import dependency' On the heels of the Obama administration clamping down on oil and gas exploration and President Obama declaring what many consider to be a war on coal, environmental groups are now urging the government to deny exploration of the world’s largest known copper reserve before the permitting process even begins. ... “When a mining project goes into the permitting process, there are local avenues for some of the permits; there are state avenues for some of the permits and federal as well,” McGroarty said. “So it’s multi-layered, and it...
  • Gold And Silver Go From Bearish To More Bearish

    03/28/2014 7:59:31 AM PDT · by blam · 23 replies
    Market Oracle ^ | 3-28-2014 | P Radomski CFA
    Gold And Silver Go From Bearish To More Bearish Commodities / Gold and Silver 2014 Mar 27, 2014 - 03:16 PM GMT By: P Radomski CFA Commodities Briefly: In our opinion short speculative positions in gold (half), silver (half) and mining stocks (full) are justified from the risk/reward perspective. The decline in the precious metals sector continues, as indicated in the previous alerts. Gold, silver and mining stocks have declined once again and appear to be headed lower also today. Did yesterday’s price action change anything? Let’s take a look (charts courtesy of http://stockcharts.com). Today we will start with silver...
  • Why Chinese Copper Demand Could Come Booming Back (Dr Copper)

    03/24/2014 6:22:15 AM PDT · by blam · 11 replies
    BI ^ | 3-24-2014 | Mamta Badkar
    Why Chinese Copper Demand Could Come Booming Back Mamta BadkarMar. 23, 2014, 11:21 PM     Copper prices have been tumbling on concerns about China's economic slowdown and an unwinding of copper-backed loans. But Sijin Cheng at Barclays writes that grid spending could "help dispel" concerns about Chinese copper demand. China's grid companies invested 40 billion yuan (about $6.4 billion) in the first two months of the year, up 22% year-over-year. This comes "despite a high base; in January-February 2013, [when] investment rose 44% from a soft 2012." While some cable providers reported "sharp slowdowns" in the Jan-Feb...
  • U.S. scrap copper trade fears defaults from China

    03/16/2014 3:36:31 PM PDT · by Sawdring · 16 replies
    Reuters ^ | Mar 11, 2014 | JOSEPHINE MASON
    Reuters) - At least one U.S. scrap copper trader has suffered "large" losses after a buyer in China defaulted on a deal in the past week, one of the first signs that sinking prices and tightening credit are taking a toll on the physical market. The customer walked away from a deal that had been guaranteed by a letter of credit, said a market participant who was familiar with the matter, but withheld the identity of the companies involved to protect business relationships. China is the world's biggest copper consumer.
  • Copper Is In Full Meltdown Mode Again In Shanghai (Dr Copper)

    03/11/2014 10:04:27 PM PDT · by blam · 25 replies
    BI ^ | 3-12-2014 | Joe Weisenthal
    Copper Is In Straight Up Meltdown Mode Again In ShanghaiJoe Weisenthal Mar. 11, 2014, 9:22 PMCopper prices — which are often seen as a proxy for the Chinese economy, if not the entire global economy — have been getting crushed. And they're in full meltdown mode tonight. Via Deirdre Wang Morris, here's the chart of Shanghai Copper prices limit down.
  • Copper Is Getting Smoked After Bad Chinese Data

    03/09/2014 6:14:07 PM PDT · by blam · 5 replies
    BI ^ | 3-9-2014 | Mamta Badkar
    Copper Is Getting Smoked After Bad Chinese Data Mamta BadkarMarch 9, 2014, 7:56 PM  Copper futures are down 2.5% in early trading, to $3.0060 per pound. Copper has been taking a beating recently and it is likely that the recent decline in Chinese exports weighed on the data. Chinese exports were down 18.1% on the year in February, after rising 10.6% the previous month. Imports however were up 10.1%. While economists have warned about reading too much into Chinese data in the Jan-Feb period because of the impact of the Lunar New Year holiday, this has raised concerns about...
  • Chinese Exports Collapse Leading To 2nd Largest Trade Deficit On Record

    03/07/2014 10:31:28 PM PST · by SatinDoll · 74 replies
    Zero Hedge ^ | March 7, 2014 | Tyler Durden
    Plenty of excuses out there for this evening's collosal miss in Chinese exports (-18.1% YoY vs an expectation of a 7.5% rise) mainly based on timing issues over the Lunar New Year (but didn't the 45 economists who forecast this data know the dates before they forecast?) This is a 6-sigma miss and plunges China's trade balance to its biggest miss on record and 2nd largest deficit on record. Combining Jan and Feb data (i.e. smoothing over the holiday), exports are still down 1.6% YoY - not good for the much-heralded global recovery. Exports to the rest of the BRICs...
  • Copper Sinks on Weaker Chinese Data

    01/04/2014 4:07:16 PM PST · by BenLurkin · 2 replies
    wsj.com ^ | Jan 3, 2014 | Tatyana Shumsky
    China's official nonmanufacturing Purchasing Managers' Index fell to 54.6 in December from 56.0 in November, according to the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion. The nationwide gauge covers services such as retail, aviation and software as well as the real-estate and construction sectors. Copper prices sank to $3.3480 a pound, their lowest traded level since Dec. 24, as investors sifted the report
  • Fingerprints Help Convict Lightning Cable Thieves

    10/27/2013 3:54:11 PM PDT · by nickcarraway · 1 replies
    Emirates 24/7 ^ | Sunday, October 27, 2013 | Eman Al Baik
    Dubai court sentences three copper cable thieves to one year in jailThree Bangladeshi labourers were sentenced to one year in jail for stealing lightning protection cables made of copper from the roof a building. Police found fingerprints of the culprits in a building in the Russian cluster of International City in Dubai where the theft had taken place. “We rushed to the location and could lift some finger prints and so we could reach MA, 25,” testified a police officer. After his arrest, MA admitted to the theft and lead police to his accomplices NM, 26, and FH, 22. Police...
  • Growing copper theft 'like an epidemic' sweeping US

    08/01/2013 11:00:25 AM PDT · by bkopto · 182 replies
    NBC News ^ | Jul 30, 3013 | Marc Koba
    Copper is such a hot commodity that thieves are going after the metal anywhere they can find it: an electrical power station in Wichita, Kan., or half a dozen middle-class homes in Morris Township, N.J. Even on a Utah highway construction site, crooks managed to abscond with six miles of copper wire. Those are just a handful of recent targets across the U.S. in the $1 billion business of copper theft. SNIP The five leading states for the thefts are Ohio, Texas, Georgia, California and Illinois, the NICB said. SNIP Copper wire was stolen from a substation of Kansas-based Westar...
  • WV:Lookout man holds burglary suspects at gunpoint

    06/19/2013 5:12:38 AM PDT · by marktwain · 2 replies
    woay.com ^ | 14 June, 2013 | Karen Franklin
    A Fayette County man held two burglary suspects at gunpoint until authorities arrived on scene to make an arrest. Michael Ray Clark, Jr., 22, was arrested on a entering without breaking charge. He was released from jail on $7,500, according to the Fayette County Sheriff's Office. An unidentified minor, who was released to her parents, could face charges later. Deputies told WOAY the pair tried to steal copper from the trailer, which was unoccupied, unlocked and undergoing renovations. The home sits on Foster Hill Road in Lookout.
  • Bleeding Economic Indicators? Commodities, CDS and Industrial Production

    06/02/2013 5:19:30 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 06/02/2013 | Anthony B. Sanders
    If you listen to the media, they continue to report that “everything is beautiful.” But not everything is beautiful, especially in Europe. Of course, gold and silver have been declining as of late. Not beautiful at all. But they are not traditional economic indicators. However, copper (green) and lumber are used in construction and they have been declining recently. Especially lumber {(purple) which has mounted a turnaround in the past week. The VIX (S&P 500 volatility index) is rising. China is still posting prodigious industrial production figures, the US not so much. But credit default swaps (aka, default insurance) are...
  • Riding A Copper Commodity Horse

    05/25/2013 6:23:30 AM PDT · by blam · 6 replies
    TMO ^ | 5-25-2013 | Richard Mills
    Riding A Copper Commodity Horse Commodities / Copper May 25, 2013 - 02:49 AM GMT By: Richard_Mills My last article, 'Give It A Doubt' was about population growth, urbanization in developing countries and the one billion people predicted to join the consuming classes by 2025. "One billion people will enter the global consuming class by 2025. They will have incomes high enough to classify them as significant consumers of goods and services..." McKinsey Global Institute, Urban world: Cities and the rise of the consuming class Some of these new consumers are going to be Americans but the majority are in...
  • Japan Stock Market Crash Leads To Global Sell Off

    05/23/2013 4:24:43 AM PDT · by SatinDoll · 18 replies
    Zero Hedge ^ | May 23, 2013 | Tyler Durden
    Yesterday afternoon, following the rout in the US stock market, we made a spurious preview (TWITTER) of the true main event: SO SELL OFF IN JGBS TONIGHT? We had no idea how right we would be because the second Japan opened, its bond futures market was halted on a circuit breaker as the 10 Year bond plunged to their lowest level since early 2012, hitting 1% and leading to massive Mark to Market losses for Japanese banks, as we also warned would happen. That was just the beginning, and suddenly the realization crept in that the plunging yen at this...
  • Inside a mile-deep open-pit copper mine after a catastrophic landslide

    04/22/2013 12:52:47 PM PDT · by dirtboy · 54 replies
    BoingBoing ^ | 4/22/2013 | Tim Heffernan
    For the past few months I’ve been reporting a big story on the copper industry for Pacific Standard. It takes a broad look at how the global economic boom of the past decade, led by China and India, is pushing copper mining into new regions and new enormities of investment and excavation. (It’ll be out in June.) But a few days ago a very local event shook the copper industry, and I thought it would be neat to look at how a crisis at a single mine can ripple through space and time, ultimately affecting just about everyone around...
  • Markets Are On A Tear, Copper Is Going Nuts

    05/03/2013 10:53:25 AM PDT · by blam · 29 replies
    TBI ^ | 5-3-2013 | Sam Ro
    Markets Are On A Tear, Copper Is Going Nuts Sam RoMay 3, 2013The market rally is looking pretty good with just two and a half hours until the closing bell. The Dow's at 14,985, up 153 points. The S&P 500 is at 1,615, up 18 points. Also, copper is at $3.30, up a whopping 6.6%. Copper is often considered to be a bellwether of the global economy. All of this comes after a strong jobs report. This morning we learned that U.S. companies added 165,000 nonfarm payrolls in April, which was much higher than the 140,000 expected by economists. The...
  • The Commodity Massacre Is Back Today — Gold Tanks Again

    05/01/2013 7:30:15 AM PDT · by blam · 33 replies
    TBI ^ | 5-1-2013 | Matthew Boesler
    The Commodity Massacre Is Back Today — Gold Tanks Again Matthew BoeslerMay 1, 2013 WTI crude oil is getting hit pretty hard this morning. Right now, it's down about 2.8%, trading at $90.85 a barrel. Copper is getting hit too – it's down about 3.2%. Gold, meanwhile, is down 1.5%, trading at $1450 an ounce. In fact, the entire commodity complex is pretty heavy in the red today, with the exception of natural gas. Silver, platinum, palladium, corn, wheat, sugar, coffee, soybeans, gasoline, and heating oil are all coming under selling pressure. Overnight, we saw weaker-than-expected manufacturing data out of...
  • Copper Calls The Economic Recovery BS (Dr Copper)

    04/28/2013 7:30:26 AM PDT · by blam · 22 replies
    The Market Oracle ^ | 4-28-2013 | Graham Summers
    Copper Calls The Economic Recovery BS Economics / Global EconomyApril 27, 2013 - 03:08 PM GMT By: Graham Summers For the last four years, the financial world has traded largely based on hope of more intervention from Central Banks. That was and is the single driving factor of the markets. Good news was good news (it’s a recovery!) but bad news was even better (the Fed will have to print more money!) as far as stocks were concerned. However, against this backdrop several issues began to develop. The single most important one was Copper, which has a great record of...
  • EPA: Alaska mine project could hurt salmon streams

    04/26/2013 8:07:58 PM PDT · by oxcart · 14 replies
    Associated Press ^ | April 26, 2013 | BECKY BOHRER
    JUNEAU, Alaska (AP) -- Build-out of a large-scale mine near the headwaters of a world-class salmon fishery in Alaska could wipe out as many as 90 miles of streams and alter stream flows, the U.S. Environmental Protection Agency said in a revised assessment released Friday. The report said mining activity would claim at least 24 miles of streams in the Bristol Bay region, based on the scenarios evaluated, with the loss of wetlands ranging from 1,200 to 4,800 acres. The EPA focused on the Pebble deposit and took into account information related to the proposed Pebble Mine but also noted...
  • Gold, Stocks And Copper Set To Crash

    04/23/2013 7:35:53 AM PDT · by blam · 34 replies
    The Market Oracle ^ | 4-23-2013 | Clive Maund
    Gold, Stocks And Copper Set To Crash Commodities / Financial CrashApril 23, 2013 - 06:34 AM GMT By: Clive Maund Failure of gold's key support at $1500 - $1550 triggered a stunning plunge as masses of stops were triggered. We can see what happened on the 6-month chart below. The plunge was the most severe since 1980 and was accompanied by colossal record volume, which is strongly bearish. It quickly lead to gold becoming critically oversold and it bounced later in the week as cheerleaders advised their readers to buy this "opportunity of a lifetime". Is it? In this update...
  • Copper Is Getting Slammed

    04/19/2013 8:16:31 AM PDT · by blam · 5 replies
    TBI ^ | 4-19-2013 | Rob Wile
    Copper Is Getting Slammed Rob WileApril 19, 2013 Copper futures are down more than 2.5 percent and are poised to see their largest decline in 16 months, Dow Jones' Francesca Freeman writes. The sell-off came after a report that Zambia, Africa's largest producer, resumed shipments after a two-week halt because of a railroad accident, she says. Investing.com Other commodities were mixed. Gold and oil were trading slightly higher, while natural gas was down.
  • April Swoon: US, Europe, China Economics Slowing, Sovereign Yields Continue To Fall

    04/18/2013 11:45:52 AM PDT · by whitedog57
    Confounded Interest ^ | 04/18/2013 | Anthony B. Sanders
    US Macro data points to a cooling off of the economy. We already know about Europe’s ongoing decline. But even China is slowing down (but down to 7.7%!) And the US is showing slowdown as well. The Conference Board’s Leading Economic Indicators for the US fell to -0.1% in March from 0.5% in February (analysts were expecting a slowdown, but only to +0.1%. The Philadelphia Fed Business Outlook Survey was expected to rise to +3.0 for April, but fell instead to 1.3 from a March reading of 2.0. Initial jobless claims rose for the week of April 13 to 352,000....
  • Copper Is Looking Ugly Tonight

    04/17/2013 8:12:54 PM PDT · by blam · 42 replies
    TBI ^ | 4-17-2013 | Joe Weisenthal
    Copper Is Looking Ugly Tonight Joe WeisenthalApril 17, 2013, 9:05 PMOne of the big ongoing stories is the selloff in commodities. Gold is the most notable loser, but industrial ones like oil and copper are taking a beating too. Copper fell all day, and continues to be weak into the evening. From FinViz:FinViz
  • A Tale Of Two Charts (CAT, Copper)

    04/02/2013 11:21:30 AM PDT · by blam · 11 replies
    A Tale Of Two Charts (CAT, Copper)Karl DenningerMarket TickerApril 2, 2013 This needs little explanation, really. Simply put, CAT (Caterpillar) is almost-certainly right given Copper's (Dr Copper) view of the economy on a forward basis and the rest of the equity market is probably wrong. Sell in May? You might be a bit late by then.
  • It’s Time to Sell Copper

    03/19/2013 10:34:52 AM PDT · by blam · 20 replies
    The Daily Reckoning ^ | 3-19-2013 | Greg Guenthner
    It’s Time to Sell Copper By Greg Guenthner 03/19/13Dr. Copper is crumbling. The versatile industrial metal best known as a bellwether for worldwide economic growth has finally hit the skids… I warned you last month that copper was fast approaching an important inflection point. Now, the Cyprus crisis was kind enough to tip copper over the edge. It fell hard in late Sunday trading from $3.50 to $3.44. The massacre continued into Monday. When the dust settled, copper found itself nearly a dime below critical support… Yet while the world economy appears poised for a slowdown, U.S. stocks continue to...
  • Left In The Dark: Copper Thieves Rob Detroit Freeways Of Light

    03/03/2013 9:53:18 AM PST · by Nowhere Man · 22 replies
    CBS/Detroit - WWJ ^ | 2-15-2013 | WWJ/AP
    DETROIT (WWJ/AP) - The Michigan Department of Transportation says one-fifth of the lights along freeways in Metro Detroit aren’t working — and copper thieves are mainly to blame. MDOT spokesman Rob Morosi said roughly 20 percent of the lights on poles and beneath overpasses on freeways in Wayne, Oakland, Macomb and St. Clair counties are dark. “We are responsible for about 5,500 light poles and also about 5,000 individual lights that are installed beneath overpasses,” Morosi told The Detroit News. “Right now we’re estimating 1,100 outages to those poles for a number of reasons.”