Tuesday, 5 February 2013

CIMB Commodities Daily Briefing

Daniel Hynes | Warren Edney

EXPANDED NEWS HEADLINES

Bulls Rewarded With Best January Rally Since 2006: Commodities
London Mining Studies Paying First Dividend as Mine Output Gains
Copper ETP Market Value Triples as Investors Bet on Recovery
Harmony Gold Profit Climbs as Costs Decline, Prices Increase
Glencores Glasenberg Seen Eyeing Anglo After Xstrata: Real M&A
Commerzbank Applies to Reclaim Category 2 Status on LME
Mongolia Should Get More Control of Rio Mine, President Says
Anglo American Platinum Posts Loss on Strikes, Surging Costs
Shanghai Rebar Rises to Nine-Month High on Service Industry Data
Sibanye Gold CEO Says He Wont Tolerate Illegal Mining Strikes
Bumi Rivals Both Claim Shareholder Interests With Opposing Plans
Centrica Opts Out of Building U.K. Nuclear Plants on Costs
Pemex Blast Death Toll Reaches 36 as Investigation Continues
Land Battles Rise as U.S. Eyes 450,000 Miles of New Pipe: Energy
Hedge Funds Racing Oil Refiners to $100 a Barrel: Energy Markets
Aurizon Delays Coal Rail Opening as Flooding Damages Tracks
Pacific CEO Confident of Keeping Colombian Field Operations
China Had 35% of Onshore Wind Capacity Last Year, BNEF Says
China Signals Central Bank Leadership to Change Next Month

Bulls Rewarded With Best January Rally Since 2006: Commodities

(Bloomberg) -- Speculators increased their bullish commodity wagers for a third straight week before prices capped
the biggest January rally since 2006 on signs that the global recovery will be sustained by central bank stimulus.
Hedge funds and other money managers raised net-long positions across 18 U.S. futures and options in the week
ended Jan. 29 by 5.6 percent to 800,738 contracts, the highest since ...
Full story: {FIFW NSN MHP5S307SXKX <GO>}
London Mining Studies Paying First Dividend as Mine Output Gains
(Bloomberg) -- London Mining Plc, the second-largest iron ore producer in Sierra Leone, is considering paying a
first dividend as output at its Marampa mine expands and prices rise. Growth to a production rate of 5 million metric
tons a year by the fourth quarter will bolster profit and enable payment of a dividend at the right time, Chief Executive
Officer Graeme Hossie said today in an interview in Cape Town, South Africa. Rising output, up 46 percent ...
Full story: {FIFW NSN MHPBMM0D9L37 <GO>}
Copper ETP Market Value Triples as Investors Bet on Recovery
(Bloomberg) -- The market value of the only physical copper-backed exchange-traded product nearly tripled in a
month as JPMorgan Chase & Co. gets ready to start its own fund for the metal in the U.S. The value of assets held in
ETF Securities physical exchange-traded copper fund rose to $48.8 million today from $16.4 million a month earlier,
according to data on Bloomberg. A total of 6,012.605 metric tons of copper were held as of Feb. 1, compared with ...
Full story: {FIFW NSN MHPFAC6KLVRU <GO>}
Harmony Gold Profit Climbs as Costs Decline, Prices Increase
(Bloomberg) -- Harmony Gold Mining Co., Africas third-largest producer, said profit rose 28 percent as costs
dropped and prices received for the metal climbed even as its biggest operation was shut due to strikes. The stock
rallied. Earnings excluding one-time items advanced to 680 million rand ($77 million), or 1.58 rand a share, in the
quarter through December from 529 million rand, or 1.23 rand a ...
Full story: {FIFW NSN MHPBLT6JTSF8 <GO>}
Glencores Glasenberg Seen Eyeing Anglo After Xstrata: Real M&A
(Bloomberg) -- What will Ivan do next? Thats the question likely to percolate amid seaside cocktails in Cape Town
this week as mining executives gather for a four-day industry confab of speeches and discreet meetings. Ivan, as
everyone calls him, is billionaire Ivan Glasenberg, chief executive officer of Glencore International Plc. Next month
hes due to close a $37 billion takeover of Xstrata Plc, creating the worlds ...
Full story: {FIFW NSN MHNL7G6JTSEA <GO>}

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Tuesday, 5 February 2013

CIMB Commodities Daily Briefing

Daniel Hynes | Warren Edney

Commerzbank Applies to Reclaim Category 2 Status on LME

(Bloomberg) -- Commerzbank AG, Germanys second- largest lender, applied to become a Category 2 member of
the London Metal Exchange. The application by Commerzbank, currently listed by the LME as a Category 4 member,
will be considered by the exchanges board, the bourse said in an e-mailed statement today. If approved, the
Frankfurt-based bank will reclaim Category 2 membership following its downgrade ...
Full story: {FIFW NSN MHPIOD6JTSFF <GO>}
Mongolia Should Get More Control of Rio Mine, President Says
(Bloomberg) -- Mongolias President Tsakhia Elbegdorj said the nation should have more control of Rio Tinto
Groups Oyu Tolgoi copper and gold project after the government said costs had increased. The total cost of the Rio
Tinto-operated development in southern Mongolia has jumped to $24.4 billion, according to an e-mailed statement
from the government, which gave a summary of a Feb. 1 parliamentary ...
Full story: {FIFW NSN MHPHR96S972F <GO>}
Anglo American Platinum Posts Loss on Strikes, Surging Costs
(Bloomberg) -- Anglo American Platinum Ltd., the biggest producer of the metal, reported a loss for 2012 and
continues to suspend its dividend as sales of refined platinum fell and cash operating costs rose. Anglo American
Platinum had a so-called headline loss excluding one-time items of 1.47 billion rand ($166 million), or 5.62 rand a
share, from a profit of 3.57 billion rand, or 13.65 rand a share, the ...
Full story: {FIFW NSN MHPDH96KLVRN <GO>}
Shanghai Rebar Rises to Nine-Month High on Service Industry Data
(Bloomberg) -- Steel reinforcement-bar futures climbed to the highest in almost nine months after data showed
Chinas service industries grew at the fastest pace since August. Rebar for delivery in May gained by 1.3 percent to
close at 4,221 yuan ($678) a metric ton on the Shanghai Futures Exchange. The contract earlier rose to 4,235 yuan a
ton, the highest since May 7, 2012. Chinas services industries rose as gains in retailing and construction aided ...
Full story: {FIFW NSN MHOSME6KLVRN <GO>}
Sibanye Gold CEO Says He Wont Tolerate Illegal Mining Strikes
(Bloomberg) -- Sibanye Gold Ltd., the South African mining company spun off from Gold Fields Ltd., said it wont
tolerate illegal walkouts as it prepares to review operations at its main assets in order to reassure investors. They are
quite clearly concerned about South Africa, Chief Executive Officer Neal Froneman said in a telephone interview,
referring to investors. The former CEO of Gold One International Ltd. returned to South Africa after meeting with ...
Full story: {FIFW NSN MHOVWS1A1I4H <GO>}
Bumi Rivals Both Claim Shareholder Interests With Opposing Plans
(Bloomberg) -- Bumi Plc Chairman Samin Tan and co- founder Nathaniel Rothschild are as united by claims of
putting shareholders first as they are divided on how to get that done. My interests with the rest of the shareholders
are aligned because we are all the victims of the Bumi saga, Tan said in an interview with Mark Barton on Bloomberg
Television. Im the person who lost a lot more money than anyone else. Bumi has urged ...
Full story: {FIFW NSN MHOZ5F0YHQ0X <GO>}
Centrica Opts Out of Building U.K. Nuclear Plants on Costs
(Bloomberg) -- Centrica Plc, the U.K.s largest household energy supplier, opted out of a plan to build nuclear
reactors in the U.K. with Electricite de France SA because of rising costs and will return 500 million pounds ($786
million) to investors by buying back shares. Centrica, which had an option to take a 20 percent stake in four new
reactors at two of EDFs power stations, said today it decided not to ...
Full story: {FIFW NSN MHP5796JTSEE <GO>}
Pemex Blast Death Toll Reaches 36 as Investigation Continues
(Bloomberg) -- The death count rose to 36 yesterday as a self-imposed deadline to provide an update on what
caused a blast at state-owned oil company Petroleos Mexicanoss headquarters came and went. The latest victims
bodies were pulled from the rubble of a Pemex building damaged in the Jan. 31 explosion in Mexico City. The
companys chief executive officer, Emilio Lozoya Austin, ...
Full story: {FIFW NSN MHPJHK6JIJUR <GO>}
Land Battles Rise as U.S. Eyes 450,000 Miles of New Pipe: Energy
(Bloomberg) -- When a power company tried to run cables over land owned by Larry Saloiss mother near Cut
Bank, Montana, the native American fought the $400 million project. He lost when the state passed a law forcing him
to sell a right-of-way. Typical of U.S. property battles sparked by the quest for energy security, Tonbridge Power Inc.
said it needed the most direct path for its electric line to wind farms, even though it would run across land holding a ...
Full story: {FIFW NSN MHPD6A6S972K <GO>}

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Tuesday, 5 February 2013

CIMB Commodities Daily Briefing

Daniel Hynes | Warren Edney

Hedge Funds Racing Oil Refiners to $100 a Barrel: Energy Markets

(Bloomberg) -- Hedge funds and refiners vied to buy oil futures last month, pushing crude to the highest level since
September, as the U.S. added jobs and expanded manufacturing while the government said fuel demand will rebound
this year. Money managers increased net-long positions, or wagers on rising U.S. prices, to a nine-month high of
218,604 in the week ended Jan. 29, according to the Commodity Futures Trading Commissions Feb. 1 Commitments
of Traders report. ...
Full story: {FIFW NSN MHPEV06S972R <GO>}
Aurizon Delays Coal Rail Opening as Flooding Damages Tracks
(Bloomberg) -- Aurizon Holdings Ltd., Australias biggest transporter of coal by rail, delayed the opening of two
tracks that carry the fuel for producing power and steel to Gladstone port in Queensland after floods damaged the
system. The Blackwater rail network, which carries the second- largest tonnages in Queensland, is expected to
reopen by the end of the week, Mike Carter, the executive vice president of the Aurizon network, said in an e-mailed
statement. The ...
Full story: {FIFW NSN MHOEQD07SXKX <GO>}
Pacific CEO Confident of Keeping Colombian Field Operations
(Bloomberg) -- Pacific Rubiales Energy Corp., Latin Americas most valuable non-state oil producer, is confident of
retaining the right to operate Colombias biggest field, Chief Executive Officer Ronald Pantin said. Relations with stateowned partner Ecopetrol SA are excellent and keeping Pacific as operator beyond 2016, when current contracts
expire, would be a win-win, ...
Full story: {FIFW NSN MHPF0K6JIJUW <GO>}
China Had 35% of Onshore Wind Capacity Last Year, BNEF Says
(Bloomberg) -- China accounted for more than a third of all newly installed onshore wind power capacity last year,
according to a Bloomberg New Energy Finance report. China installed 15.9 gigawatts of onshore turbines in 2012 to
be the worlds largest wind market in terms of annual installed capacity, despite an 18 percent decline from a year
earlier, the London-based research ...
Full story: {FIFW NSN MHOFQ56KLVR6 <GO>}
China Signals Central Bank Leadership to Change Next Month
(Bloomberg) -- China signaled its preparing for its first new central bank chief since 2002 as an official newspaper
said Zhou Xiaochuan will step down from his position next month. The China Securities Journal, published by the
state-run Xinhua News Agency, didnt attribute the information to anyone in its Feb. 2 profile of Zhou, governor of the
Peoples Bank of China. The ruling Communist Party ...
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