Antofagasta Share Discussion Threads

[fast investor] 11/3/2009 14:15

Well some think its worth shorting MM....

Bank of America has an underperform for Antofagasta, raising target to 250p from 240p.



Have the Yanks got something against this company??.

[mrminister] 10/3/2009 09:50

would not short this now......going into another range from the looks....the 400 to 500 range may be history....crude ticking up will only add fuel to the fire

[shazzieb] 10/3/2009 07:33

definately time for a short........even bloomberg calling it down. But you never know with these markets!!!

[saltaire111] 07/3/2009 12:07

Morgan Stanley's CIO was saying on Bloomberg last night that their house view is that they like metals companies at this level. He explained that the market is still likely to find new bottom once or twice before strong recovery at the end of this year or early 2010.

[mrminister] 06/3/2009 14:06

yes it normally pulls back here 500/510.....but if it pushes past and holds it could be a bullish sign

considering the markets have been down 12 out the last 14 days this has more than held its own......

[bonzo1] 05/3/2009 08:27

looks like a good short above 500p?

[aalli] 27/2/2009 12:32

Mar 10 Preliminary Results Announcement - Full Year 2008

[huwrayhenry] 26/2/2009 23:47

TS on tuesday.
Wonder if this is a short?

[aalli] 25/2/2009 10:00

topping 500('sh) is also a big ask.....

[mrminister] 24/2/2009 09:19

been stuck in a range for ages now....£4 ish low £5 ish is the high....

[aalli] 23/2/2009 09:51

Miners are up significantly this morning but ANTO seems to be lagging behind, although its up its not up in line with the sector......strange

[aalli] 19/1/2009 11:30

this is a YOYO type stock lol

[2ngh] 12/1/2009 20:59

Financials getting hammered in the US...

Is it time to get back in here yet? Down 8.1% today....

Any views?

[mos trader] 09/1/2009 01:06

Nope not at the moment too many ifs and buts -

[bushtuckaman] 08/1/2009 15:50

Are you looking to buy in mos t?

[mos trader] 08/1/2009 14:51

Recent broker statement..

SG Securities downgrades Antofagasta to sell form hold, cutting target to 350p from 420p

[mos trader] 08/1/2009 14:40

Looks a little concerning with world demand falling away.

[mos trader] 08/1/2009 14:39

Copper Falls for Second Day on Concern About U.S. Recession
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By Claudia Carpenter

Jan. 8 (Bloomberg) -- Copper and nickel slid for a second day in London as reports showed the U.S. recession may be deepening, curbing demand for industrial metals further.

Copper has dropped more than 60 percent since the beginning of July as a worsening housing market in the U.S. crimped demand for the metal used in pipes and wiring. U.S. crude oil inventories jumped more than expected to the highest since May, and companies pared 693,000 jobs in December, also exceeding economists' forecasts, reports showed yesterday.

"Fairly poor data for U.S. employment and the latest U.S. inventory data reaffirm weakness in the economy," said Dan Smith, an analyst at Standard Chartered Plc in London.

Copper for delivery in three months fell $90, or 2.7 percent, to $3,250 a metric ton as of 1:54 p.m. on the London Metal Exchange. It declined 1.5 percent yesterday and was a record $8,940 on July 2. The Comex March-delivery copper contract fell 2.1 percent to $1.4795 a pound.

LS-Nikko Copper Inc., operator of the world's third-largest copper refiner and smelter, plans to cut this year's output by 10 percent on falling demand.

Nickel, which is used in stainless steel, declined $650, or 5.3 percent, to $11,650 a ton. Nippon Yakin Kogyo Co., a Japanese stainless steel producer, said it will suspend production at its plant in Kawasaki, near Tokyo, for three days a month as it cuts output by 60 percent from first-half levels.

Nickel jumped as much as 13 percent this year and copper climbed to a one-month high on speculation government spending programs will revive economies, spurring consumption of homes, cars and other items that contain industrial metals.

Opportunity to Sell

Buying by index funds that helped support nickel prices as they rebalance their holdings provided an opportunity for other investors to sell inventory, Smith said. Nickel may drop to less than $10,000 a ton in the next few weeks, he said.

The UBS Bloomberg CMCI Index of 26 commodities dropped 4.2 percent yesterday, the first drop this year. It was down another 1.1 percent today.

"Improvement in sentiment disappeared fairly quickly," Smith said.

The number of Americans getting unemployment benefit rose to 4.6 million last week, the most since 1982, the Labor Department said in Washington today. First-time filers fell by 24,000 to 467,000. Jobless claims were projected to rise to 545,000, economists said in a Bloomberg News survey.

Tin fell $250 to $11,350 a ton, zinc dropped $27 to $1,263 a ton and aluminum declined $39 to $1,555 a ton. Lead increased $11 to $1,151 a ton.

To contact the reporter on this story: Claudia Carpenter in London at [e-mail] or [e-mail]

Last Updated: January 8, 2009 09:21 EST

[grgkecer] 16/12/2008 07:37

CHILEAN COMPANIES COMPETE FOR CODELCO'S PORT
Tuesday, 16 December 2008
Last Updated Monday, 15 December 2008
The Mejillones Port Complex (CPM) – an affiliate of Chile's state-owned
mining company, CODELCO – is negotiating plans to build a third
terminal in the Mejillones Harbor, located in Chile's Region II.


The Mejillones harbor will begin the contruction of a US$60
million cargo port in 2009.
Photo courtesy of Puerto Angamos.


The companies competing to build and operate the port, slated to cost a US$60 million to construct, are state-owned Chilean petroleum company ENAP and the Angamos Port Society working under the construction company Belfi-Von Appen and Ultramar.
According to port authorities, the new port – scheduled to kick off construction in 2009 – will be used to ship combustibles and lubricants to CODELCO's Chuquicamata, Radomiro Tomic and Mina Sur mines, located in Region II. The port also will be used to unload the coal necessary to operate the region's Angamos electricity generator, transfer sulfuric acid to local mining companies, and possibly disembark copper concentrate to private mines located in the region, reported Chilean daily El Mercurio on Monday.
Port Angamo's traffic has increased by 20 percent since 2005 because of the rise of mining in the region. Mejillones is expected to be Chile's main shipping harbor by the year 2012, according to Angamos Port Society's general manager, Emilion Bouchon.
Within the last few months, low copper prices have spawned a severe crisis among small mining operations in Region II.
Production for some small mining companies has fallen by 81 percent in the last two months, and more than 2,500 people have been laid off.