Ba Kelai (Barclays) comment (1015)

From;    Author:Stand originally
Night before last of human relations copper is new on explore 5500 dollars / ton drive basic metal price to rebound. Initial value of Chinese trade data shows cupreous entrance restored in September and former aluminium and aluminium alloy are exported drop.

According to data of preliminary and macroscopical statistic, chinese copper entrance increased in September, at the same time former aluminium and aluminium alloy exit drop, agree with expectant condition.

Sand spy Maaden announces the current situation as a result of financial environment, its plan to produce per year the smeltery construction that can be 720 thousand tons mediumly to will suspend go into operation, but did not give out to open work time afresh however.

Expression of LME stock turnover is differ, cupreous put in storage increases 2475 tons, aluminium criterion delivery of cargo from storage increases 6750 tons.

Restore as the part of money market confidence, week of basic metal market goes influence is strong, continue to maintain yesterday on raise. Human relations copper continues to get go up, agreement continued on a day of 5170 price afore in March explore touchs 5500 dollars / ton exalted, relatively before Zhou Wu rose nearly 8% . Besides money market newest evolutional is incentive, price of human relations copper still can amount to what 1.5 million tons Escondida mine supply breaks a news to prop up about producing per year yesterday. This mine is in of overhaul period yield will decrease 10% (also namely the whole world furnishs 1% the left and right sides) , although this mine did not give out,the time of go back to work anticipates, but the uncertainty that this increased copper to furnish, our estimation yields in what two months had had 350 thousand tons recently loss.

The message of aluminous respect is, show an information according to the road, company of Saudi Arabia mining industry (Maaden) as a result of,had announced current financial condition not beautiful, its churchyard produces per year the smeltery that can be 720 thousand tons to plan to defer. In fact, it is early before financial crisis, because the power plant builds a problem, plant construction defers this refine to happen already, plan originally 2012 or 2013 by drop back and did not tell new start working time. Trade data initial value showed China in September its did not forging copper and semi-manufactured goods entrance increased 20% reach 213 thousand tons, considering near future Shanghai human relations price differs a problem to be helpful for an entrance, this one news is not unexpected. Cupreous flotsam entrance is in experienced August off-season hind, annulus comparing increased in September 3% reach 511 thousand tons. But, because had export on August 20,the attune on aluminium alloy custom duty comes 15% hind, former aluminium and aluminium alloy exported month of annulus comparing to drop 32% , in the meantime, alumina entrance dropped 13% , the demand that shows smeltery is very exhausted weak.
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