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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (22426)	11/24/2004 7:10:12 PM
From: orkrious	Read Replies (2) \| Respond to of 110194

Bloomberg reports Nissan will shut down auto production do to steel shortage. About 25,000 units to be delayed. Message 20800009

To: russwinter who wrote (22426)	11/25/2004 2:39:21 PM
From: basserdan	Respond to of 110194

Hi Russ, My apologies if this has already been posted... China's SHFE Sends Members Risk Warning On Volatile Mkt -23-04 10:56 PM EST SHANGHAI (Dow Jones)--China's Shanghai Futures Exchange sent its members a risk warning notice late Tuesday due to volatile trading and huge positions in the December contract. "As uncertainties (in the market) have been increasing recently...(We hope) members will be well-prepared in preventing risk," said the notice. The SHFE advised members to closely monitor the flow of money for margins and alert clients to adjust their positions based on market conditions. SHFE copper futures have posted sharp gains over the past few weeks as investors were concerned over huge long positions in the December contract. This has worried investors and the exchange, as deliverable copper stocks at exchange warehouses total only 24,503 metric tons. As of Wednesday morning, there were no signs of a letupin the upward price trend in local copper futures. Market players widely believed the State Reserve Bureau is the largest long position holder of the December contract. The SRB declined to comment on this when contacted. As of Tuesday, Cofco Futures Co., the brokerage said by market players to have been trading copper futures for the SRB for years, had 37,815 tons of long positions under the contract. It is uncertain whether the SRB will slash its long position before the contract expires Dec. 15 or whether copper stocks will rise substantially in the next few weeks. Market talk has been circulating that the SRB plans to replenish state reserves with 30,000 tons of copper by the end of this year. As of 0213 GMT, the December contract was quoted at CNY31,260/ton, up CNY310/ ton from Tuesday. -By China Bureau, Dow Jones Newswires; 86-21-6218-3268; djnews.shanghai@ dowjones.com -Edited by George Bernard news.morningstar.com