Metals continue to slump today....
Retail Sales in the States were pretty strong, and were revised up for May as well.
Growth in China 6,7% last Quarter....helped by strong Retail Sales. But few analysts have any doubts, that numbers will come down...
Hard to believe: Deutsche Bank with 2nd Quarter earnings beat! That must have been the first one in 37 Quarters or so!
The French made it! Amazing - the Croations had a mega- party in Munich last night! They were certainly good and also slightly unlucky loosers!
Citi´s highly rated commodities team expects copper to hit 6.800 US$ again by year end, and likes nickel, which tehy think will hit 16.000 US$ within the next 2 years.
Highfield - have now answered all open questions - just in time for the Spanish summer holiday! I guess nothing will happen until early September now...
Panoramic - very happy today! Savannah coming back on stream early next year, following a debt financing with macquarie for 40 Mill A$, which requires about 25% hedging until mid 2021 , done at about 14.100$/t nickel ( nothing wrong with putting on a limited hedge 100% above your costs! ) . Nice surprise not to have any fresh equity needed! The market will like that tomorrow! Nickel stocks have been very sought after in Australia recently - I am hoping for a nice move now!
Have a nice week!
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