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     wjbennet
Member
Username: wjbennet
Post Number: 99
Registered: 01-2003Rating: N/A
Votes: 0
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| | Tuesday, January 29, 2008 - 01:46 pm: |  
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Hi All
I hope someone on the forum may be able to explain the difference in commodity prices mainly base metals. In a report this morning on a world news statement it said the price of copper had gone up on the COMEX yet it went on to say the price of copper had gone down on the LME. Could any one explain the difference as to which one should be followed in the morning [as i check the kitco charts] before the market opens to get an idea as what will happen to metal stocks during the day or in the future. I guess there is a simple answer here that i am missing.
Thanks for any replies in advance
Regards wjb
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captain_chaza
Member
Username: captain_chaza
Post Number: 2973
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, January 29, 2008 - 03:49 pm: |
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Ahoy Sea-Cadet wjb
You are quite correct in assuming the answer is simple
It is very simple If you are a seaman
"Follow the Sun"
The first thing we learn at sea is that the Sun rises in the EAST and Sets in the WEST
This is a fact of life /Fundamental to all our planets except Mercury where the Sun rises in the West and Sets in the East
Nothing is ever 100%
I put more weight on the Yanks ie.COMEX than the Poms and their last remnant of the Great British Empire ie. The LME
Simply put The Sun sets on the LME well before it sets on the COMEX
Therefore the latest of information will/should be read in the charts of the COMEX when I awaken at dawn Down Under
I assume here You are a Man from the Land Down-under?
As you can clealy see
The answer is quite Simple
However
The execution is a little bit more difficult
The problem is that we who sail these great seas on Planet Earth have Basically 3/THREE time zones in our markets
The Third being the Asian Markets where the Sun rises after we are well on our way
Nothing at sea is ever simple
Crikey!
Just keeping track of all the time changes is a job for a Superman with all their Daylight Savings
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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wjbennet
Member
Username: wjbennet
Post Number: 100
Registered: 01-2003Rating: N/A
Votes: 0
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| | Tuesday, January 29, 2008 - 05:55 pm: |
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Hi Captain
Thank you very much for the reply. As i understand your reply it is just a matter of time zones and the lattest one being the comex is the one to follow. I was just concerned one of them may be quoting futures contracts and not the actual metal price. Sorry to ask another question if you had the time to reply do you know where can you get coal, iron ore and uranium spot prices
Thanks again
wjb
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captain_chaza
Member
Username: captain_chaza
Post Number: 2974
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, January 29, 2008 - 06:36 pm: |
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Ahoy Sea Cadet wjb
I have promoted you the rank of cadetship as you ask good questions
Iron ore and Coal as I understand it have No spot/ market prices
These commodities are negotiated under a price agreement each year
As there is no real open market these prices are set by private negotiation between the participating parties
The only way you will find out about these private negotiations is by NETWORKING
Coal prices are similar
My taxi driver tells me BHP just negotiated a 40% hike in Iron-Ore prices which is Good!
He also told me he heard it was a long term deal
Which is bad!
No wonder she /the BHP was hit today and therefore RIO
Crikey!
And here I was thinking that BHP was going frigid on RIO!
How wrong can one person be?
Salute and Gods' speed
PS There is a very small exchange in Uranium but it is so small it is negligible
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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cat_lady
Member
Username: cat_lady
Post Number: 396
Registered: 10-2006
Rating: N/A
Votes: 0
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| | Tuesday, January 29, 2008 - 07:40 pm: |
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WJB
this is probably the best place to keep track of Uranium prices.
http://www.uxc.com/review/uxc_Prices.aspx
cat lady
Without my morning coffee I might as well be a dog
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wjbennet
Member
Username: wjbennet
Post Number: 101
Registered: 01-2003Rating: N/A
Votes: 0
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| | Wednesday, January 30, 2008 - 05:14 pm: |
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Hi All
Thank you very much for your informative replies, very interesting about iron ore, similar to what i understand and i shall keep my eye on the uranium price now i know where to look
Regards wjb
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rockon
Member
Username: rockon
Post Number: 247
Registered: 08-2003Rating: N/A
Votes: 0
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| | Wednesday, January 30, 2008 - 08:07 pm: |
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WJB,
Another link that may help.
http://www.infomine.com/commodities/
Cheers.
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wjbennet
Member
Username: wjbennet
Post Number: 102
Registered: 01-2003Rating: N/A
Votes: 0
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| | Thursday, January 31, 2008 - 06:34 pm: |
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hi rockon
Thanks for that link it was very useful, i know i am pressing my luck here but the last thing i need is a link to the futures, i wont be trading them [to old] but after watching another thread on the forum i believe they could be a usefull guide
regards
wjb
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rockon
Member
Username: rockon
Post Number: 248
Registered: 08-2003Rating: N/A
Votes: 0
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| | Thursday, January 31, 2008 - 07:10 pm: |
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WJB,
Not sure if this is what your'e looking for but if you spend a little time getting acquainted with the site, then it's not so daunting. Typical Yank website....One needs a uni degree to navigate it....Once you register (free) you can set up some good 20 min. delayed charts with indicators.Just save the chart,and tack that to your favourites and all you have to do is log on and your there.You'll also need to know the codes of the futures.Maybe someone else can point you towards an easier site to navigate.....Cheers.
http://futuresource.quote.com/
P.S click on the "My Futuresource" tab.
P.S P.S I/C doesn't do Futures charts, so I hope this link won't annoy anyone...Cheers.
(Message edited by rockon on January 31, 2008)
(Message edited by rockon on January 31, 2008)
(Message edited by rockon on January 31, 2008)
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wjbennet
Member
Username: wjbennet
Post Number: 103
Registered: 01-2003Rating: N/A
Votes: 0
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| | Friday, February 01, 2008 - 04:54 pm: |
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Rockon
Thankyou once again
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rockon
Member
Username: rockon
Post Number: 249
Registered: 08-2003Rating: N/A
Votes: 0
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| | Saturday, February 02, 2008 - 05:48 am: |
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Sorrite....
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