GLG News by Aluminum Experts

Paul GlantzPresidentMetal Recycling Consultants

Freeport-McMoran’s Acquisition of Phelps Dodge is Good for Both Companies

November 20, 2006

Analysis of:Freeport-McMoRan to acquire Phelps Dodge | www.cbc.ca

In a friendly offer to purchase Phelps Dodge (PD), Freeport-McMoran (FCX) expects to improve its net value for its stakeholders, and determine its own destiny.

I would expect to see huge synergies in the operations, which would save on the expense side of the balance sheet, despite the statement that labor reduction is only a minor part of the agreement.

Perhaps this acquisition is more about two companies with different metal price outlooks and philosophies.

Neil BuxtonManaging DirectorGFMS Metals Consulting

Putting the base metal super cycle theory to the test

October 6, 2006

Analysis of:The Base Metals Market Briefing | www.gfms-metalsconsulting.com

At this stage in most previous commodity price cycles, the fundamentals would be coming under pressure as demand began to slow as the supply response to the high base metal prices began to emerge.

However despite record nominal prices in many cases, there is little evidence of a deterioration in the market balance.
 
As such, the price performance in this cycle is going to be very different to what has gone on before. 

Neil BuxtonManaging DirectorGFMS Metals Consulting

CVRD arrives late to the party

August 11, 2006

Analysis of:CVRD to Make Bid for Inco | www.nytimes.com

Following the apparent success of Xstrata's bid for Falconbridge, CVRD has entered the race for Inco.

CVRD is already in the process of establishing a significant presence in the nickel sector via organic greenfield projects.  Given its own projects, and Inco's existing operations and its own expansion plans, the deal could establish it as the leading nickel producer.

Neil BuxtonManaging DirectorGFMS Metals Consulting

Business as usual in the copper market

July 24, 2006

Analysis of:What’s going on with the copper market? | www.business-standard.com

1) Copper prices have fallen on the perception that the labor contract at the huge Escondida mine in Chile will be resolved without a strike.

2) The disruptions to copper supply in Mexico also appear to be drawing to a close.

3) However the key feature of the copper market is that many of the key drivers that sent prices to record highs in May are still relevant.  Therefore it is still too early to write off the bull market in the copper market.

Paul GlantzPresidentMetal Recycling Consultants

Add-on for Novelis' Fusion Technology

June 28, 2006

Analysis of:Could this new technology open doors to Al automotive sheet? By Dr. Donald Fosnacht | www.33metalproducing.com

Dr. Fosnacht has written an excellent review of the implications and analysis of the new fusion technology developed by Novelis.

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