Glencore Share Discussion Threads

[losses] 19/7/2018 09:08

Copper tanking

[waldron] 19/7/2018 08:14

Uranium imports, new target of the Trump administration
Glencore Plc (USOTC: GLNCY)
Intraday Chart of the Action

Today: Thursday 19 July 2018
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The United States announced on Wednesday that it has launched an investigation to determine whether uranium imports are threatening the country's security, a procedure that could pave the way for new customs duties.


US Trade Secretary Wilbur Ross said in a statement that the investigation covered the entire industry, from uranium mining to enrichment, to its use by the defense industry.


"Our production of uranium, a metal necessary for the army and the generation of electricity, represents only 5% of our consumption against 49% (in 1987)", justified Mr. Ross by assuring to want to carry out a investigation "thorough, fair and transparent".


Washington has already used the national security argument to justify the additional tariffs imposed on imports of aluminum and steel, a decision that triggered a series of reprisals from key US partners, including Canada, the European Union and China.


Also in the name of national security, the Commerce Department also launched a survey in May on imported cars and parts imported into the country each year.


According to the administration, the United States imported $ 1.4 billion worth of enriched uranium in 2017, as well as $ 470 million worth of uranium ore and $ 1.8 billion worth of uranium compounds and alloys. .


Canada and Kazakhstan supply about half of the imported uranium used in nuclear power plants. Other major sources of supply are Australia, Russia and Uzbekistan.


The investigation launched by the Department of Commerce follows two complaints filed in January with its services by US companies Ur-Energy and Energy Fuels.


According to the Energy Department, the sector was hit by the fall in uranium prices between 2009 and 2015 and jobs related to this industry fell by 60% to only represent 600 positions.


Nuclear power plants produce about 20% of the country's electricity, used to light homes but also to operate the submarines and aircraft carriers of the US military.


dg / jum / lo / leo


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


July 18, 2018 15:29 ET (19:29 GMT)

[waldron] 18/7/2018 21:43

IS COPPER REALLY THE END ALL AND BE ALL FOR GLEN

THE REASON I MENTION THIS, IS THAT THEY IT IS ALSO VERY BIG IN TRADING AND HEDGING
AND ALSO ENVOLVED WITH OTHER COMMODITIES

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing. It also has interests in industrial assets that include mining, smelting, refining and warehousing operations. Its Energy products segment includes coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. Its Agricultural products segment is supported by controlled and non-controlled storage, handling and processing facilities in various locations, and is focused on grains, oils/oilseeds, cotton and sugar. Its diversified operations consist of over 150 mining and metallurgical, oil production and agricultural assets.

Copper COMEX 2.76 +0.69%

LOOKING FORWARD TO THE END OF MONTH TRADING UPDATE AND THE RESULTS 8th AUGUST.
NOT TO MENTION EX DIVI ON 6th September.

still snug in the 310 to 340p BOX



Rio Tinto
4,120 +1.17%

BHP Billiton
1,668.6 +2.75%

Glencore
318.5 +1.72%

[leoneobull] 18/7/2018 21:31

Considering copper still down, Glen is recovering a bit

[purplepanther] 18/7/2018 10:30

Copper price forecast raised to $7,500/ ton from $7,000/ tonThe Citi Research Team offered key insights on the outlook for copper, via Twitter, noting that the red metal is a long-term buying opportunity.Key Points:Prepare for a decade of copper on 'steroids'.Current copper prices not high enough to spur supply.Citi bumps its long term copper price forecast to $7,500/t (from $7,000/t).Trade war present a long-term buying opportunity for copper.

[scfc1] 18/7/2018 09:26

Another pointless broker forecast...

[florenceorbis] 18/7/2018 09:22

Barclays reduced its target on Glencore from 450 to 400 GBp, but remains overweight.

[purplepanther] 18/7/2018 08:52

Nice theory - hope you right

[a2584728] 18/7/2018 07:15

The price has been dragged down to allow GLEN to buy back its own stock. Will recover very soon

[eriktherock] 17/7/2018 09:22

The buy-back, which has not halted the slide, is providing an opportunity for the commercials to exit. The gap-down last week diminished the exit opportunity at a higher price albeit the circa £15m per day continues to prop-up the share price until it doesn't in a couple of weeks' time ahead of results.

[1corrado] 17/7/2018 09:04

well oversold.

[dmf] 17/7/2018 09:03

Was oversold

[1corrado] 17/7/2018 09:01

?????????????????????????

[eriktherock] 17/7/2018 09:01

pump n' dump

[1corrado] 17/7/2018 08:56

some positive move on Glen......................

[fuji99] 17/7/2018 07:19

Good results from RIO. GLEN should move with it upwards.

[action] 16/7/2018 20:47

Glen below 311 support next one 295p

[action] 16/7/2018 20:42

Downward trend but good trading share

[creddy] 16/7/2018 18:20

Been holding from around a squid a share so it's all paper losses, not actual. Wish trump would shut up though.

[gutterhead] 16/7/2018 13:55

trade war will all blow over, its all hot air as usual

[leoneobull] 16/7/2018 13:02

Lse board is depressing. A bunch of leavers moaning about everything...funny how the term was put forward remoaner when the leavers never stop complaining....

[fuji99] 16/7/2018 12:56

It is a general sector malaise due to Trade War threats.
All miners charts look the same: From BLT, AAL to RIO and KAZ to ANTO.
With the exception of VED to be taken over.
So when the tide turns around, GLEN share price will pretty quickly return to 350p+.

[tsmith2] 16/7/2018 12:34

On my watchlist. Agree chart looks awful...

[eriktherock] 16/7/2018 12:22

DMF, I hope you have a large buy order in as when the buy-back ends the question will be who is going to buy it back up above 281 ?