EUROPE POWER-Curve up with firm gas response to Russia/Ukraine


Mon Jun 16, 2014 8:02am GMT

* Curve tracks Ukraine-driven energy price rises

* Cal '15 price highest since April 30

* Nearby German wind output to decline

FRANKFURT, June 16 (Reuters) - European power forwards on Monday traded higher in reflection of firmer gas prices, which responded to the unresolved row between Europe's main gas supplier Russia and transit country Ukraine over unpaid bills.

"Clearly the uncertainties must be priced into power but don't forget that prices had been low, so this morning's advances are not surprising," a curve trader said.

The German Cal 2015 baseload power contract for next-year delivery was up 63 cents from Friday levels at 34.83 euros ($47.4) per megawatt-hour, a near seven-week high after 34.95 euros on April 30.

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METALS-Metals buoyed as Iraq conflict boosts commodity indexes


Mon Jun 16, 2014 7:32am GMT

* ShFE copper breaks through 100-day moving avg; hits 10-day high

* Oil prices at highest this year on Iraq supply threat

* Coming up: U.S. industrial output for May at 1315 GMT (Updates prices)

By Melanie Burton

SYDNEY, June 16 (Reuters) - London copper climbed on Monday as conflict in Iraq drove commodity indexes higher, while Shanghai copper hit a 10-day peak after breaking through a key level on charts.

The focus for metals markets has shifted to the Middle East, away from a gradually improving picture in the United States economy and China's fragile reaccelerating growth.

"People generally allocate towards commodities when geopolitical risk increases, and they tend to buy indices which tends to ripple across commodities

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These 2 Things Could Give DryShips 33% Upside

Jun. 9, 2014 9:23 AM ET | About: DryShips Inc. (DRYS), Includes: ORIG by: Quoth the Raven

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More...)


  • DryShips has been clipped      20% in the last three months.
  • Ocean Rig, majority owned      by DryShips, recently signed a significant drilling contract for 2015.
  • I continue to swear that      shipping rates cannot stay this low forever, and the Baltic Dry Index      continues to make

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ArcelorMittal opens maiden steel plant in China through joint venture

 ET Auto

NEW DELHI: NRI billionaire Laxmi Mittal-led
ArcelorMittal today opened its first steel making facility in China through a joint venture, VAMA, aimed at catering to the local automotive market with $ 832 million investment.
Valin ArcelorMittal Automotive Steel Co (VAMA), in which Chinese firm Hunan Iron and Steel Co also has stake, has an annual capacity of producing 1.5 million tonnes high-strength automotive steels. China imports such steel to meet domestic need, the world's largest steel maker said in a statement.
"VAMA will produce state-of-the-art grade steels for safe and cost-efficient light-weight design, superior surface quality and coating technology, helping to meet rapid growth in demand

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Ethanol Producer Green Plains Has Plans to Feed Its Own Cattle



Green Plains Inc. (GPRE), which just became the first major ethanol producer to buy its own cattle-feed yard, has plans to milk it for more -- by buying the cattle too.

The fourth-largest ethanol maker in the U.S. bought the assets of Supreme Cattle Feeders from Agri Beef Co., including a feed yard and a grain storage facility near Kismet, Kansas, for $15 million. The move marks a shift for the Omaha, Nebraska-based company from selling distillers grain, a byproduct of ethanol production known as DDGS, to directly feeding it to cattle that the company plans to eventually buy, Todd Becker, Green Plains’ chief executive officer, said in a telephone interview today.

“As some of

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