Commodity Blog

Archive for May, 2008

Gold N.Y. Spot $ 0884.35
Silver N.Y. Spot $ 16.99
Lead LME Cash $ 0.8709
Copper LME Cash $ 3.6782
Zinc LME Cash $ 0.9138
Nickel LME Spot $ 10.00
Aluminum LME Spot $ 1.2973
Platinum N.Y. Spot $ 1999.00
Palladium N.Y Spot $ 431.50
Oil WTI Cushing $ 130.10
Natural Gas (Henry Hub)($/MMBtu) $11.59

USD-AUD $ 1.0459
AUD-USD $ 0.9561
CAD-USD $ 1.0086
USD-CAD $ 0.9915
EUR-USD $ 1.5532

Oil WTI Cushing $ 129.80
Gold N.Y. Spot $ 0907.70
Silver N.Y. Spot $ 17.54
Lead LME Cash $ 0.9117
Copper LME Cash $ 3.7989
Zinc LME Cash $ 0.9702
Nickel LME Spot $ 10.46
Aluminum LME Spot $ 1.3413
Platinum N.Y. Spot $ 2140.00
Palladium N.Y Spot $ 445.50
Natural Gas (Henry Hub)($/MMBtu) $11.57

USD-AUD $ 1.0419
AUD-USD $ 0.9598
CAD-USD $ 1.0105
USD-CAD $ 0.9896
EUR-USD $ 1.5718

Oil WTI Cushing $ 132.50
Gold N.Y. Spot $ 0926.85
Silver N.Y. Spot $ 18.25
Lead LME Cash $ 0.9054
Copper LME Cash $ 3.7544
Zinc LME Cash $ 0.9575
Nickel LME Spot $ 10.59
Aluminum LME Spot $ 1.3358
Platinum N.Y. Spot $ 2161.00
Palladium N.Y Spot $ 450.00
Natural Gas (Henry Hub)($/MMBtu) $11.57

USD-AUD $ 1.0414
AUD-USD $ 0.9602
CAD-USD $ 1.0118
USD-CAD $ 0.9883
EUR-USD $ 1.5770

Sherritt International Corp.’s [TSX:S] CEO says the company expects significant growth from its coal assets following its acquisition of Royal Utilities Income Fund, as high oil prices make coal an attractive fuel option.
“There is no way this country will leave 70% of its energy — which is in the form of coal and 25 times cheaper than oil — in the ground while its citizens have to bear dramatic cost increases to heat their homes,” Jowdat Waheed told shareholders at the company’s annual meeting in Toronto.
“Your company has placed a multi-billion dollar bet on its belief that coal, in different forms, will be one of the most important fuels in the energy mix of the future”.
Sherritt. said in March it was buying back the outstanding units of Royal Utilities Income Fund [TSX:RU.UN], owner of Canada’s largest thermal coal producer, in a C$704-million deal that will allow it to invest more money in its coal business. The deal closed last month.
The Ontario Teachers’ Pension Plan, a long-time partner with Sherritt on a number of transactions, agreed to part with its 41.2% stake in Royal Utilities in a lock-up agreement under the Sherritt plan.
Teachers has been recently selling off assets as it prepares to close a C$52-billion deal for BCE Inc. [TSX:BCE], although that plan suffered a serious setback Wednesday when Quebec’s highest court ruled that the terms of the agreement were unfair to BCE’s bondholders.
Waheed said Sherritt has been working through “the smorgasbord of sometimes conflicting regulations on carbon emissions to develop Canada’s first large-scale coal gasification project for commissioning in 2012.”
Royal Utilities indirectly held all the shares of Prairie Mines & Royalty Ltd., the largest thermal coal producer in Canada, which supplies coal-fired power plants in Alberta and Saskatchewan.
In addition to the coal assets, Sherritt also holds nickel, cobalt, oil and natural gas, and electricity holdings in Canada, Cuba and elsewhere.
Waheed said high metal prices will keep revenues high, noting that the challenges will relate to execution — building and staffing its operations to meet expansion plans.
“In our Ambatovy joint venture (in the African island nation of Madagascar), we are fully mobilized on construction activities but probably six to nine months away from having full complement of key operating personnel on the ground,” he said.
“We do need to wait a bit here as some staff can only get released from our Moa expansion (in Cuba) as key stages are completed.”
Sherritt shares traded Thursday at C$15.23, up five cents, at the Toronto Stock Exchange.

More record oil prices today with prices touching $135.00 a slight correction and profit taking took place by end of the day.

Oil WTI Cushing $ 131.70
Gold N.Y. Spot $ 0921.10
Silver N.Y. Spot $ 17.88
Lead LME Cash $ 0.9512
Copper LME Cash $ 3.8188
Zinc LME Cash $ 0.9834
Nickel LME Spot $ 11.09
Aluminum LME Spot $ 1.3569
Platinum N.Y. Spot $ 2180.00
Palladium N.Y Spot $ 454.50
Natural Gas (Henry Hub)($/MMBtu) $11.39

USD-AUD $ 1.0447
AUD-USD $ 0.9572
CAD-USD $ 1.0158
USD-CAD $ 0.9844
EUR-USD $ 1.5714

Oil WTI Cushing $ 128.70
Gold N.Y. Spot $ 0926.60
Silver N.Y. Spot $ 17.84
Lead LME Cash $ 0.9671
Copper LME Cash $ 3.8075
Zinc LME Cash $ 1.0047
Nickel LME Spot $ 11.47
Aluminum LME Spot $ 1.3426
Platinum N.Y. Spot $ 2165.00
Palladium N.Y Spot $ 446.00
Natural Gas (Henry Hub)($/MMBtu) $10.93

USD-AUD $ 1.0380
AUD-USD $ 0.9634
CAD-USD $ 1.0070
USD-CAD $ 0.9930
EUR-USD $ 1.5766

Record crude oil prices

Oil WTI Cushing $ 129.10
Gold N.Y. Spot $ 0917.25
Silver N.Y. Spot $ 17.40
Lead LME Cash $ 0.9689
Copper LME Cash $ 3.7916
Zinc LME Cash $ 1.0065
Nickel LME Spot $ 11.71
Aluminum LME Spot $ 1.3236
Platinum N.Y. Spot $ 2150.50
Palladium N.Y Spot $ 444.50
Natural Gas (Henry Hub)($/MMBtu) $11.10

USD-AUD $ 1.0431
AUD-USD $ 0.9587
CAD-USD $ 1.0032
USD-CAD $ 0.9968
EUR-USD $ 1.5637

More record oil prices…

Oil WTI Cushing $ 126.70
Gold N.Y. Spot $ 0903.10
Silver N.Y. Spot $ 17.00
Lead LME Cash $ 1.0433
Copper LME Cash $ 3.8397
Zinc LME Cash $ 1.0533
Nickel LME Spot $ 11.93
Aluminum LME Spot $ 1.3553
Platinum N.Y. Spot $ 2086.50
Palladium N.Y Spot $ 435.50
Natural Gas (Henry Hub)($/MMBtu) $11.40

USD-AUD $ 1.0529
AUD-USD $ 0.9498
CAD-USD $ 1.0002
USD-CAD $ 0.9998

Oil WTI Cushing $ 124.70
Gold N.Y. Spot $ 0868.10
Silver N.Y. Spot $ 16.71
Lead LME Cash $ 0.9988
Copper LME Cash $ 3.7100
Zinc LME Cash $ 1.0274
Nickel LME Spot $ 12.04
Aluminum LME Spot $ 1.3068
Platinum N.Y. Spot $ 2030.00
Palladium N.Y Spot $ 430.50
Natural Gas (Henry Hub)($/MMBtu) $11.18

USD-AUD $ 1.0697
AUD-USD $ 0.9348
CAD-USD $ 0.9995
USD-CAD $ 1.0005
EUR-USD $ 1.5461

Oil WTI Cushing $ 124.60
Gold N.Y. Spot $ 0876.10
Silver N.Y. Spot $ 16.59
Lead LME Cash $ 1.0365
Copper LME Cash $ 3.8098
Zinc LME Cash $ 0.9820
Nickel LME Spot $ 12.18
Aluminum LME Spot $ 1.3005
Platinum N.Y. Spot $ 2014.00
Palladium N.Y Spot $ 433.50
Natural Gas (Henry Hub)($/MMBtu) $11.31

USD-AUD $ 1.0628
AUD-USD $ 0.9409
CAD-USD $ 0.9853
USD-CAD $ 1.0149
EUR-USD $ 1.5437