6 replies to this topic

[hiker]

The broker also made the change to account for upgraded commodity price forecasts. Citigroup is now expecting iron ore prices to rise by 20% in 2008/09, after previously forecasting a rise of 7% for the period. It also upgraded thermal coal, coking coal and long-term nickel price forecasts.

http://www.marketwat...r...o&dist=yhoo

btw, coking coal is produced by RTP and BHP among others....it is used in metallurgical furnaces as a mix component for the chemistry of making silicon, steel, etc..hence its other name is metallurgical coal.

[Cirrus]

Thanks hiker.... The next phase will be institutions piling in. It will happen in both energy and basic resources.

[hiker]

Cirrus, of interest is yesterday's reversal in FCX almost precisely at the 260ema on the 5min, which was in advance about 78.24. an unfilled gap just below 78. I usually use the 260 ema only on the daily, and sometimes on the weekly..it is not often useful in other timeframes, so yesterday may simply have been a coincidence since a horizontal zone resided 78 to 78.50's anway.

Edited by hiker, 05 June 2007 - 08:02 AM.

[Woody]

Hiker appreciate your posts here and over at TW. I've worked in the Steel Industry since 1980, and started my own Company in 1990 to supply Steel Mills and Mining Smelters with Carbons. Just to quickly add to your comments on Coking Coal........Steel Mills purchase Coal to produce Metallurgical Coke.....they charge Coke Ovens with the Coal to drive off the volatiles and concentrate the Carbon content, the resulting, hard chunks of Coke (usually 3 x 1 inch) make up part of the Blast Furnace burden where Hot Metal is produced from Iron Ore Pellets, the Hot Metal then goes to a BOF (Basic Oxygen Furnace) where it is turned into Steel. Mills that produce Steel this way are called "Fully Integrated" Mills who melt scrap are called EAF's (Electric Arc Furnace Shops) ...end of lesson SLX is an interesting way to invest in Steel Industry as are RTP, RIO, BHP, CLF...and a few Moly producers (Moly is an essential ingredient in Pipeline Steel) TKO on TSE, AUA (TSE) MLY (TSE) MOL (TSE)_

[hiker]

hey Woody there are not many silicon smelters in this country, and the one I am familiar with uses an electric arc furnace...where I learned about the mix and coke. makes for some dirty air when near the furnace...when those furnaces are taken down for cleaning, the guys that come out of that are black at day's end. Does your company supply carbon electrodes? just curious about your carbon biz...

Edited by hiker, 05 June 2007 - 08:13 AM.

[Woody]

Hiker,

I get several emails a day from Chinese Producers/Traders wanting my Company to Rep them in NA.

We do not sell Electrodes but Fushun Carbon has been pressing us China Electrode

Sell Metallurgical Coke Breeze (the minus 1/2 in material that the Steel Mills dont use in BF) to Mining Smelters for Recarb and Reduction eg. Falconbridges FerroNickel Plant in Dom. Republic

Fluid Petroleum Coke to INCO Smelter and to Brick Plants to cut back on Nat Gas consumption

Various Specialty Carbons to Steel Mills for Recarurization mostly low in S and N.

CW

[hiker]

FCX news item today -

http://biz.yahoo.com...tions.html?.v=1