Equities obviously like the US elections…the US$ is weaker, US bonds are stronger - I guess the market expects the Democrats being able to reduce excessive spending by Trump.
Metals are unchanged today, while cobalt is strong, following the announcement of Glencore, that high levels of radioactivity in a large part of their Congo-production stop sales of it, and will severely impact 1st half 2019 production as well. From surplus to supply deficit in one day!
Analysts from Goldman´s, Antaike and Glencore do not believe as yet in a threat to nickel prices from new HPAL production, planned for 2020 in Indonesia. HPAL projects have a terrible history in reaching production in time and on budget, and in this case, it will be even more complicated to eventually produce battery-grade material ( which is an entirely new process ).
The main , German government advisory group has reduced their growth estimate from 2.3% to 1.6%.
Highfield - very strong today, for a change - Mosaic in the States came out with a very strong result, and a positive outlook for fertilizers.
Syrah - also strong today, after having signed a relatively large off-take agreement with a Chinese group for 20.000t of graphite.
Prairie Mining - the CEO of JSW, Poland´s largest coking coal producer, stated publicly today, that they want to take over control of Prairie and expect to conclude talks in the 1st Quarter 2019. They are now progressing internal approvals, and will work on a valuation of Prairie, without commenting any further. Very timely - as we said yesterday - something will happen here. Prairie jumped by 12% today in Polish trading, on very strong turnover.
Schröder Equities GmbH
eingetragen im HR München, HRB 166985
Geschäftsführer: Wilhelm Schröder
The information contained in this communication is confidential and is intended only for the use of the addressee. Unauthorised use, disclosure or copying is strictly prohibited. If you have received this communication in error, please delete it and notify us by telephone at +49-89-4613440-0, by fax at +49-89-4613440-10 or by e-mail at email@example.com immediately. Please note that this communication does not constitute and may not be construed as investment advice and / or referral to buy or sell financial instruments. Unless specified otherwise, the views expressed in this communication are solely subjective notions of the individual sender and / or the entity or individual stated as the author of any information submitted. Performance in the past may in no case be considered as an indication for future performance. Please also note that Schröder Equities GmbH and / or its officers or employees may have interests in financial instruments referred to this communication. A current list of shareholdings can be emailed on request. Furthermore, our clients are hereby informed that Schröder Equities GmbH renders advisory services to Nestor Australien Fonds, an investment fund administered by Nestor Investment Management S.A. Luxemburg. Please also note that e-mails can be intercepted by