Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
Cours Or & Argent

Antofagasta plc

Publié le 06 août 2015

Tighter supplies fortify copper, lay foundation for price rally

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter
Mots clés associés :   Canada | Copper | Dollar | Morgan Stanley |

Tighter supplies fortify copper, lay foundation for price rally

* Market to look at specific copper issues after Fed rate rise

* Escondida expected to produce less in H2 than H1

By Pratima Desai

LONDON, Aug 6 (Reuters) - Power outages, strikes, floods and drought as well as lower grade source material are tightening copper supplies, potentially pushing the market into deficit earlier than expected and laying the ground for price gains later this year.

Estimates of how much copper output will be lost vary. Morgan Stanley puts the amount at about 500,000 tonnes so far this year, while ICBC Standard Bank reckons an annualised 1.33 million tonnes.

Some of the news on supply problems has come over the last couple of weeks, after a Reuters survey in July showed analysts expected a 194,000-tonne surplus this year.

In a 22-million-tonne market the numbers are not large, but they are expected to rise as problems persist.

Analysts typically allow for output disruptions at about 4.5 percent, but given the outages already seen, the total in December could be much higher, possibly more than 7 percent.

"Prices have fallen to the point where major miners are looking at cutting production and future spending, that's in addition to an abnormally large number of "typical" supply disruptions," said ICBC Standard Bank analyst Leon Westgate.

"The copper market is already sowing the seeds for looming deficits and the next big rally in prices, starting towards the end of this year."

Benchmark copper on the London Metal Exchange hit a six-year low at $5,142 this week on worries over demand from top consumer China and a firm dollar, which makes dollar-denominated commodities more expensive for non-U.S. currency holders.

Dollar strength has been fuelled by expectations of higher U.S. interest rates, possibly as soon as September.

"China slowdown concerns seem to be primarily among U.S.- and UK-based funds. Asian corporates appear to be amazingly unconcerned," said David Wilson, analyst at Citi.

"Once there is clarity over U.S. rate rises, then the market can start looking at specific copper related issues, which are being ignored.

One of these is large output losses at Canada's First Quantum Kansanshi mine, smelter and its greenfield Sentinel project in Zambia, running at reduced capacity due to a drought and power cuts.

Chilean miner Antofagasta produced 303,400 tonnes of copper in the first half, down 12.9 percent from a year earlier and below the consensus due to declining ore grades, unfavourable weather and environmental protests.

Morgan Stanley estimates copper production at Glencore's Alumbrera mine at 60,000 tonnes this year from 103,000 tonnes last year.

The bank expects BHP Billiton's Escondida to produce 200,000 tonnes less in the second half of this year from the first half and remaining low next year.

Other companies experiencing copper production losses include Chile's Codelco, due to floods and unrest and Canada's Barrick-Gold, due to power shortages and rain.

Also on the horizon are contract revisions in August at Southern Copper's Cuajone and Toquepala mines in Peru, according Tristan Hobbs, consultant at CRU, which could provoke an escalation of unrest.

(Reporting by Pratima Desai; Editing by Veronica Brown and David Evans)

Lire la suite de l'article sur finance.yahoo.com
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Antofagasta plc

PRODUCTEUR
CODE : ANTO.L
ISIN : GB0000456144
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

Antofagasta est une société de production minière de cuivre et d'or basée au Royaume-Uni.

Antofagasta est productrice de cuivre, d'or, d'argent et de molybdène au Chili, en développement de projets de cuivre et d'or au Chili et au Pakistan, et détient divers projets d'exploration au Chili, au Perou, en Australie et en Suede.

Ses principaux projets en production sont MICHILLA, EL TESORO MINE, LOS PELAMBRES, EL TESORO, ESPERENZA (OXIDES) et ESPERANZA (SULPHIDES) au Chili, ses principaux projets en développement sont REKO DIQ au Pakistan et LINCE/MICHILLA au Chili et ses principaux projets en exploration sont PUNT HILL et PYRAMID ( ALASKA) en Australie, KIRUNA SOUTH en Suede, CORDILLERA DE LAS MINAS au Perou et ANTUCOYA au Chili.

Antofagasta est cotée au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1 752,4 milliards GBX (2 080,7 milliards US$, 1 870,3 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 10 novembre 2023 à 1 280,00 GBX, et son plus haut niveau récent le 18 septembre 2024 à 1 777,50 GBX.

Antofagasta possède 985 856 000 actions en circulation.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Dans les médias de Antofagasta plc
12/05/2019Without U.S.-China trade war, copper price would be higher -...
10/04/2019Antofagasta to stay put on dividend policy but will return c...
22/03/2019Antofagasta expects water agreement with BHP for Zaldivar mi...
19/03/2019Antofagasta expects copper deficit of up to 300,000 tonnes t...
23/01/2019Strong last quarter leads Antofagasta to record copper outpu...
15/11/2018Antofagasta goes ahead with $1.3B expansion of Los Pelambres...
03/11/2018Almost a quarter of Antofagasta's energy needs met by renewa...
19/08/2018Chile's Antofagasta expects more copper price volatility -me...
15/08/2018Miner Antofagasta's H1 earnings fall, trade tensions cloud d...
08/05/2018Antofagasta shares, half-year production hit by Los Pelambre...
25/04/2018Lower copper grades take toll on Antofagasta first quarter o...
13/12/2017Antofagasta has a new project in Canada
26/10/2017Antofagasta trims costs forecast as Q3 copper output rises
05/07/2017Antofagasta faces strike threats at two of its copper mines ...
23/05/2017Report blasts Antofagasta's Minera Los Pelambres
21/03/2017Tribunal rules in favour of Barrick, Antofagasta in Pakistan...
Projets de Antofagasta plc
31/07/2015Antofagasta to buy Chilean copper mine from Barrick for $1bn
20/08/2014Study shows Twin Metals mine economically feasible
Communiqués de Presse de Antofagasta plc
31/12/2015EWU Ended Low on Falling Oil Prices, Antofagasta at the Lead
28/10/2015Barrick earnings beat market expectations, cuts debt
28/10/2015Reuters Business News Schedule at 1330 GMT/0930 AM ET
24/09/2015EU mergers and takeovers (Sept 24)
25/08/2015Edited Transcript of ANTO.L earnings conference call or pres...
06/08/2015Tighter supplies fortify copper, lay foundation for price ra...
25/06/2015Aplc Committee Changes
23/04/2015Antofagasta sells Chile water business for $1bn
23/04/2015Sale of Water Division
14/04/20152014 Annual Report and Financial Statements
14/04/2015Antofagasta sounds warning on Chile copper industry
14/04/2015Antofagasta sees forecast global copper surplus disappearing...
01/04/2015Normal Operations resumed following heavy rains
27/03/2015Heavy Rains in the Atacama
17/03/20152014 Preliminary Results
12/03/2015Resolution of Los Pelambres Protest
10/03/2015Analyst Sees Bright Spot In Copper As Miners Dig Deeper In H...
10/03/20152014 FY Results webcast and dial in details
10/03/2015Court ruling against Los Pelambres
09/03/2015Protest at Los Pelambres
03/03/2015Charles de Vaulx Buys 4 New International Stocks in Fourth Q...
02/03/2015Charles de Vaulx Purchases 4 New Holdings in Q4
23/02/2015Antofagasta plc expects lower cash costs in 2015
06/02/2015Notification of Major Interest In Shares
28/01/2015Quarterly Production Report – Q4 2014
22/01/2015Notification of Directors Interests
21/01/2015Completion of Duluth transaction
14/01/2015World Bank warning hits markets; Copper slumps
14/01/2015World Bank warning weighs on markets; copper a big loser
13/01/2015Notification of Directors Interests
03/12/2014Appointment of Iván Arriagada as Chief Executive Officer of ...
04/11/2014Duluth Metals to be sold to Chilean mining company
03/11/2014Acquisition of Duluth Metals Limited
29/10/2014Quarterly Production Report – Q3 2014
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
LSE (ANTO.L)FRANKFURT (FG1.F)
1 777,50-0.31%21,30-1.16%
LSE
GBX 1 777,50
18/09 18:22 -5,50
-0,31%
Cours préc. Ouverture
1 783,00 1 774,00
Bas haut
1 757,72 1 786,50
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
 -  -
Volume var. 1 mois
1 359 245 -
24hGold TrendPower© : 28
Produit Copper - Gold - Molybdenum - Silver
Développe Copper - Gold
Recherche Copper - Gold - Molybdenum - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Dernière mise à jour le : 18/11/2010
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
DateVariationMaxiMini
20240,00%
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,08 AU$+0,50%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 +4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
8,91 US$-2,73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,59 GBX-3,26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,05 CA$+10,00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
2,06 CA$+0,00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
12,67 +0,88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,34 CA$+6,25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,19 AU$+2,70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
1,77 -2,21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
40,37 US$-0,22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,04 AU$+0,00%Trend Power :
Profitez de la hausse des actions aurifères
  • Inscrivez-vous à notre market briefing minier
    hebdomadaire
  • Recevez nos rapports sur les sociétés qui nous semblent
    présenter les meilleurs potentiels
  • Abonnement GRATUIT, aucune sollicitation
  • Offre limitée, inscrivez-vous maintenant !
Accédez directement au site.