Hi, are there any other active traders in the above areas that would like to join an MSN chat group. Maybe, you have one already? Basically, the purposes of this group would be to share any information relating to these sectors. Be it ideas on good stock picks. I think with the use of windows live messenger (as it is real time rather than bulletin board) all traders that participate in the group can benefit enormously. If you are interested, please mail me @ karljmurphy@gmail.com

Jefferies note on the mining sector today:
"Supply constraints in mining will intensify this year, especially in copper, and demand should be resilient in 1H17. While Chinese construction activity should slow in 2H, the ongoing recovery in global industrial activity is an offsetting positive. Copper is our preferred commodity for 2017 as we now forecast a market deficit this year. We have increased our copper price forecasts, and we reiterate our Buy ratings on Glencore, Freeport and First Quantum.
Favorable macro conditions: The mining sector should benefit from Chinese infrastructure spending, the ongoing global recovery in industrial activity and manufacturing, potential fiscal stimulus in the US, a higher oil price, and an increase in inflation expectations. Demand conditions are likely to be supportive, at least until China's National Congress meetings in 3Q/4Q17. Speculative demand for commodities is also likely to be strong if the dollar continues to strengthen as traders in China have been buying commodities as a backdoor strategy to get long the US$. Counter-intuitively, a weaker dollar could lead to lower commodity prices in the short-term as dollar weakness could spark an unwind of speculative longs. All things considered, we expect resilient demand for most commodities in 2017, but prices should be volatile along the way.
Copper supply problems: Copper mining companies slashed capex and in some cases high-graded mines during the downturn. Operating risk has increased as a result, and unexpected disruptions are likely to be a prominent factor in the copper market this year. There is also risk of strikes as labour negotiations will be difficult, including at Escondida, the world's largest copper mine. We now forecast a small (82kt) copper market deficit this year due to lower supply projections, and we have increased our copper price forecasts to fully reflect the improving fundamental outlook.
Funds are still underweight mining: Based on our recent conversations with investors, it is clear to us that many long only funds are still underweight mining. As fundamentals remain supportive and the copper price increases, we would expect these funds to capitulate and buy. Mining share prices are likely to go materially higher as a result."

Macquarie comment today:
· Commodity prices – key price forecast changes to bulks and nickel. Macquarie’s Commodities team reiterates the expectation of downside in iron ore as the Chinese apparent demand cycle turns, but given Q1 gains, we have raised full year 2017 expectations by ~16% to $63/t but still expect prices to fall back to $50/t in 2H17. In contrast, manganese and met coal prices have been lowered in the near term. In nickel, the political-driven uncertainty over Indonesian and Filipino ore shipments continues. After looking at a range of scenarios, we now feel there is some ore-driven upside from current levels, and have raised our 2017 forecast by ~12%. We have also increased our alumina price forecast by an average 15% from CY18-21 due to a combination of US alumina closures and ex-China aluminium growth.
· Diversified miners – higher earnings but mixed TP changes. Vale and RIO have experienced the most material near-term earnings upgrades given the predominance of iron ore in the earnings mix. Our CY17 and CY18 EBITDA estimates for Vale and RIO increase by 12% and 18%, respectively. Near-term cuts to metallurgical coal and manganese lead to a reduction in South32’s CY17 EBITDA of 4% but the significant increase to alumina and manganese forecasts in 2018 see CY18 EBITDA rise by 6%. For the rest of the peer group, EBITDA forecasts changes are
· We acknowledge that after an enthusiastic start to the year, macro momentum in China is slowing and end use demand is seasonally softer; leading to a build-up in supply chain inventories which could cap commodity price gains in the near term. But ex-China economic indicators remain robust and should offer, at least partial, support to prices. Against this backdrop, we retain our preference for stocks with compelling valuation metrics and strong capital return potential. Our relative preference for RIO and S32 amongst the diversified miners therefore remains unchanged. Both stocks offer FCF yields in the mid-teens on our base case, DYs greater than 6% and both companies have either committed to, or hinted at, share buy-back programmes. KAZ Minerals remains our top pick amongst the base metals as we believe that project delivery should continue to reduce the risk discount levied on the stock."

Bit of a dip in at least a couple of mining companies in mid-Feb, can someone remind me why?

I think most of them have seen a dip, but from what I can understand, the brokers have never recommended the miners as a 'safe' investment over the last year, yet their sp's have rocketed, partly it seems from the strong $, unexpected demand in China and the miners themselves reporting better profitability having become far more efficient. On CNBC yesterday they commented that miners have done well, contrary to the predictions of 'experts', so very good luck to those that took on the risk. They think the dip is down to mainly profit taking and a response to a weaker $. Copper seems to be the 'hot commodity' at the moment, so maybe that's an area still set to benefit.

Thanks Harry, I've been out of miners for ages so obviously missed all the fun, I must start to take more interest in Vedanta as they were one of my favourites.