Base Metals and Minerals

Mineral Sands play Iluka delivered a solid 2008 result and brokers see it as the start of better things to come.

The Dow closed down 89, triggering a technical bear signal. Oil jumped 14%.

Barclays Capital notes copper scrap supplies are falling and it expects this trend to limit the global surplus of the metal this year.

Wall Street failed to be excited by Obama’s housing plan while gold has set its sights on US$1000. The Dow was flat.

President Obama signs the stimulus bill as the run on Europe begins. Dow down 300.

Shareholders are already revolting but analysts see merit in Rio’s Chinalco deal.

Worsening fundamentals have pushed down aluminium prices.

Weekly musings from your editor. What price should BHP shares trade at and is current investor optimism justified?

A late announcement on a new mortgage plan brought Wall Street back from the brink last night. The Dow rallied strongly to close down 6 points.

The Dow clawed back 50 points as agreement was reached on the stimulus bill while the TARP remains a point of conjecture.