Silver replaces copper in Detroit power lines:Silver Institute
New York, June 13 (BridgeNews) - New electric power cables that rely on
protective sheathing made of silver for transmission of electricity without
loss of current to resistance were installed in a section of Detroit, the
producer-funded Silver Institute said. When fully realized in the next decade
or so, the superconducting wire market has the potential to consume 50 million
ounces of silver or more each year, the institute said. The new technology has
the potential to decrease copper use.
( Story .16314 )
Grupo Mexico says no new plans to shut more copper operations
New York, June 13 (BridgeNews) - Mining and rail giant Grupo Mexico on
Wednesday said it has no intentions to curtail any of its copper operations at
this time, despite the fact that copper prices are currently trading near
two-year lows. There has been some speculation that the recent decline in
prices could force copper producers to shut down some of their higher-cost
facilities.
( Story .15231 )
ISO sees world sugar prices trapped in 8-11c range in 2001-02
London, June 13 (BridgeNews) - World sugar prices may spend the coming
season in the same 8-11 cent per pound range as in 2000-01 if the global sugar
balance in 2001-02 (September-October) yields another production deficit of
about three million tonnes, according to the International Sugar Organization.
( Story .15832 )
Analysts revise up Russian 2001 grain harvest to 67-70 mln tns
Moscow, June 13 (BridgeNews) - Russia is expected to harvest 67-70 million
tonnes of grain this year, up from a previous estimate of 66-68 million tonnes
and 65.4 million tonnes harvested in 2000, the analytical department of the
agricultural OGO group of companies said Wednesday. The forecast has been
revised upward due to good prospects for the winter grain harvest, seen now at
26-28 million tonnes, up from an earlier projection of 25-26 million.
( Story .16910 )
Technical Analysis: NY Cotton Futures
Chicago, June 13 (BridgeNews) - New York Cotton Exchange cotton futures
rebounded after Dec set a contract low and Jly a 10-day low. While contracts
flip-flopped all session, Jly and other active contracts ended the day higher
on a mildly positive note. Jly options stop trading Friday, which some say
could keep pressure on the front month. Talk of an end to this bear market
sometime this summer or fall has been circulating, but one technician said he
expects a long period of consolidation once cotton stops its descent.
( Story .3637 )
US FX Daily Outlook: Dollar/yen extends gains to 3-week high
New York, June 13 (BridgeNews) - The dollar climbed to a three-week high of
122.44 yen following Monday's release of the disappointing contraction of the
Japanese first quarter GDP and the overnight decline in Japanese share prices,
especially the banking index. The euro hit a one-week high of 85.63 cents to
the dollar on ongoing short covering since Tuesday's rumors of European Central
Bank intervention.
( Story .901 ) |
