China Armco Metals auf Wachstum eingestellt

www.thestockmasters.com/...102012-FSIN-JAG-AZC-GPRC-CNAM 

But the economics of the move, predicted by a Reuters poll four weeks ago, are the most crucial for the 200 million or so jobs in China's vast factory sector that analysts estimate directly depend on foreign trade.

COMFORTABLE CONFIDENCE

Reform says Beijing is comfortable with the yuan's value and that exporters have sufficient strength to cope with the government relaxing its grip. As the financial crisis deepened in 2008, China squeezed tightly on the yuan to shield the economy as international trade ground to a halt.

It implies confidence that rebounding March indicators in the first-quarter GDP data - such as a jump in steel production, vehicle output, machinery and cement production and a recovery in sales of household electronic appliances - suggest that the floor in economic activity has broad foundations.

So does a huge bounce in new bank lending in March - 25 percent ahead of economists' forecasts at 1.01 trillion yuan - that signals monetary easing since the autumn, creating an estimated 800 billion yuan of new credit, is being put to work.

Bear in mind that the last time growth was this low, in the second quarter of 2009, Beijing was busy rolling out 4 trillion yuan ($635 billion) of stimulus to support the ailing economy and encouraging local authorities to go on a borrowing binge.

The lessons from that episode though have been hard learned, requiring a two-year policy tightening campaign to fight the inflationary effects of the stimulus and creating a 10.7 trillion yuan legacy of local government debt to be cleaned up.

This time Beijing is taking a different route to stability.

"This is all about creating macroeconomic flexibility in an economy that, by the end of the decade, is likely to be on a growth trajectory down towards 5 percent and where that flexibility is going to be needed even more," Markowski said.

UNSUSTAINABLE WITHOUT REFORM

Economists believe that a tightly-controlled export and investment-driven growth model that has delivered three decades of double digit expansion, lifted 600 million people out of poverty, and turned China into the world's single biggest source of economic growth and the Number 1 exporter, is unsustainable.

So too does the government, wary that a wealth gap is widening, asset bubbles are inflating and foreign demand for goods from China's vast factory sector is becoming less reliable, fuelling economic risks that undermine the social stability on which the Communist Party claims the right to rule.

The International Monetary Fund hailed Saturday's move as underlining China's commitment to rebalance the economy towards domestic consumption and giving market forces more freedom.

Premier Wen Jiabao last month staked his political legacy on the need for structural reforms to rebalance China's economy, while Li Keqiang, widely expected to succeed Wen early next year, told a forum last month that reforms cannot be delayed.

Beijing is actively pursuing a slower growth strategy to deliver them, with an official target at an eight-year low to create room for structural policy shifts, particularly on prices it sets, without sparking a surge in inflation.

Economic stability is the most crucial part of the plan.

"The move may partially help clear away the doubt on whether China could manage to steer a soft landing and make global investors more clear about China's reform roadmap," said Dong Xian'an, chief economist at Peking First Advisory in Beijing.

The fundamentals of China's economy have shifted, particularly with respect to its huge accumulation of foreign capital over the last decade that has given it the world's largest store of foreign reserves, worth $3.3 trillion.

China's current account surplus dropped from about 10 percent of GDP in 2007 to 2.7 percent in 2011 and is likely to remain subdued while its two biggest trading partners - the European Union and the United States - struggle respectively with recession risks and anaemic growth.

A surplus between 2.5 and 4 percent of GDP is, according to a model backed by the influential Peterson Institute for International Economics, an indication that a currency has reached its fair, or equilibrium, value. China's top officials have used that term a lot recently.

That only serves to reinforce the view that Beijing is satisfied it has the policies in place to ensure that even if annual growth in 2012 does end up being its slowest in a decade, it sets the scene for better quality growth in the decade ahead.

And it implies confidence that the incremental introduction of more currency flexibility will not knock economic activity off track near term as the risk of a hard landing has gone.

"As long as the current modest easing is carried out - with the budget deficit increasing by almost 1 percent of GDP and new bank lending reaching at least 8 trillion - we think growth will rebound in Q2 sequentially and average 8.5 percent for 2012 as a whole," analysts at UBS said in a note to clients.

(Reporting by Nick Edwards; Editing by Emily Kaiser)

finance.yahoo.com/news/...ency-move-nails-023928158.html 

While standard terms are often not altered, business negotiators must work closely with legal counsel to negotiate only the issues that will have a significant business or legal affect on the successful completion of the contract. This requires experience in dealing with the supplier to know what accommodations they will accept based on prior business dealings and liability exposure.  Also, it is necessary for both the business negotiator and legal counsel to be sensitive to regional cultures and personalities. For example, the concept of guanxi is essential to the success of every business deal. Guanxi describes the importance of doing business based on personal relationships; it is one of the key social concepts that unite China culturally. However, guanxi can be interpreted differently by members of different generations, and can be accorded different levels of importance by those of the same generation. Individuals who are sensitive to the subtle cultural nuances can distinguish between essential parties and time-wasters and identify euphemisms to distinguish between good and bad reactions to negotiations. Once these key social concepts are understood and put into practice, the terms and conditions of the contract can be easily worked out to everyone’s satisfaction. The ability to understand and apply these cultural aspects of negotiating contracts with customers in China is critical and often very challenging without an experienced multi-cultural team.

Take-it-or-leave-it deals in China are culturally rooted — inexorable situations that force suppliers to take on some amount of risk. In these instances, it is important to recognize the difference between real risk and theoretical risk. The lawyer must put into perspective how contract terms will play out and much of this is derived from experience in completing actual transactions with Chinese companies rather than a theoretical approach.

One of the most significant aspects of an iron ore supply contract for delivery into China is that all iron ore imports are required to be inspected by China Inspection and Quarantine (“CIQ”) to confirm their weight, mineral composition and moisture content.  Results of this inspection which are used to calculate final pricing of a deal often times differs from inspections performed at the port of loading.  Consequently, this contract clause must be carefully negotiated to include a conflict resolution mechanism.  In addition, careful supervision by experienced personnel of the inspection process at all phases of the production and shipping process are essential to ensure the proper application of the agreed on pricing terms. For our transactions dealing with these issues, we have developed workable contract terms that are acceptable to all parties.  Also, we have experienced personnel stationed at each phase of production and the port of loading and the port of discharge in China to ensure that the expected economic results of each transaction are achieved.

We expect to ride the wave of the projected 7% annual growth in demand for iron ore in China using the experience of our worldwide, multi-cultural staff and tools we have developed to ensure success in completing supplies of iron ore to China.

cdiichinadirect.wordpress.com/2012/02/16/...wyers-perspective/



Lazarus Rothstein

Executive Vice President and General Counsel

CD International Enterprises (NASDAQ: CDII)

431 Fairway Drive, Suite 200

Deerfield Beach, FL 33441

According to China Customs statistics, from January to February 2012, scrap-metal imports to China reached 1,787,000 tons with a value of USD 3.11 billion, respectively up 5.6% year-on-year and 6.3% year-on-year; the average import price was USD 1,740 per ton, slightly up 0.6% year-on-year. 

experts.e-to-china.com/analysis/show.php?contentid=11343

China to import 10m tonnes of scrap, Camu says

Location: Shanghai
April 22, 2012 - 14:27 GMT Location: Shanghai

China’s ferrous scrap supply is falling short of demand by around 10 million tonnes, which will have to be imported, a senior official with the China Assn of Metal Scrap Utilisation (Camu) said. 

“As China’s crude steel production, which is expected to reach 700 million tonnes in 2012, continues to grow, consumption of scrap will increase to 91.3-96.6 million tonnes,” Liu Shuzhou, Camu’s vice-secretary-general, said at a conference...

www.metalbulletin.com/Article/3015633/...-scrap-Camu-says.html

www.sacbee.com/2012/05/07/4472953/...-to-host-first.html 

 

China Armco Metals: Corporate News Archive

Our Oversea Investment Company Apollo Annouced Its New Placement Of $3.6 Million


On May 8th, 2012 our oversea investment company Apollo, an iron ore explorer and developer in Australia, completed a new placement of $3.6 million from the institutional and sophisticated investors, which included $1 million invested by Jindal Steel and Power. With this fund, Apollo will continue to explore iron ore and develop the Commonwealth Hill Iron Project in South Australia.

In Apollo's press release, it also revealed the general ideas of this project, such as size of the developing areas, source of iron ore, and the advantage of iron ore transportation Darwin Railway Line.

For more information, please visit www.apollominerals.com.

 

Operating loss for the first quarter of 2012 was USD 0.2 million compared to an operating income of USD 1.4 million in the first quarter of 2011. Net loss for the first quarter of 2012 was USD 1.66 million which included a USD 0.4 million write-off of investment, or USD 0.10 loss per diluted share compared to net income USD 0.6 million or USD 0.04 per share for the same period last year. The weighted average diluted shares outstanding increased from 15.3 million in the first quarter of 2011 to 16.7 million in the first quarter of 2012, due to equity issuance for payment and compensation and converted warrants during 2012.

Mr Kexuan Yao Chairman and CEO of China Armco said "The first quarter was the most difficult quarter for China steel industry in recent years which whole industry suffered quarterly loss first time in 10 years. Both our trading and recycling businesses were adversely affected by the brutal market resulted in sharp declines on gross margins during the quarter. However, our revenue in recycling business continued to grow steady; the quantities of metal ores and scrap metals we sold in the first quarter reached record high compared to any first quarter in the past. We believe our solid and sound foundation in the industry, our strong relationship with our customers and suppliers around the world, and the strategy we have developed will enable us to overcome various challenges and fully leverage our operating model to generate incremental revenue and profitability. We consider the market is recovering from its bottom and we are well-positioned to capture a growing share of an increasing market demand for our products."

www.steelguru.com/chinese_news/...al_results/264160.html 

bin gespannt ob Sie nächste Woche uns mal was positives zu berichten haben........

wahrscheinlch wieder nicht......glaube irgendwie nicht an was Gutes .Sie haben zumindest keine Meldungen über 3 Monate herausgegeben..........es bleibt spannend forum-media.finanzen.net/forum/smiley/smiley-wink.gif" style="max-width:560px" /> 

China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and is in the recycling business in the PRC. China Armco's customers throughout China include some of the fastest growing steel producing mills and foundries in the PRC. Raw materials are acquired from a global group of suppliers located in diverse countries, including, but not limited to, Brazil, India, Indonesia, Ukraine and the United States. China Armco's product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore, steel billet and recycled scrap metals. For more information about China Armco, please visit www.armcometals.com.

link:  www.equities.com/news/...p;val=485534&d=1&cat=headline

 

 

 

www.streetinsider.com/Corporate+News/...ew+Orders/7745070.html

 

www.marketwatch.com/story/...ap-recycling-operation-2012-10-01

 

 

www.marketwatch.com/story/...2012-financial-results-2012-11-14

 

SAN MATEO, Calif., Nov. 26, 2012  /PRNewswire/ -- China Armco Metals, Inc. (NYSE MKT: CNAM) ("China  Armco" or the "Company"), a distributor of imported metal ore and metal  recycler with a new state-of-the-art scrap metal recycling facility in China,  today announced that Armco (Lianyungang) Renewable Metals, Inc., the  Company's wholly owned subsidiary, has signed a sales agreement with  China Metal Recycling (Holdings) Limited. According to the agreement,  Armco (Lianyungang) will supply a total of 60,000 metric tons of various  scrap steels to China Metal Recycling in the next three months at the  market price at delivery.

 

The Company's important customer, China Metal Recycling (Holdings)  Limited, listed on HongKong Stock Exchange (HKEx, stock code 773), is  one of the largest scrap metal recycling companies in China.    China Armco has been working with China Metal Recycling for years and  has developed a long-term and strategic cooperation relationship with  them.

 

"After years of effort, our recycling business model and operation  has started to show good results and significant improvement, especially  upon the market rebound in the late third quarter of 2012," said Mr.  Kexuan Yao, Chairman and CEO of China Armco. "As steel mills start to  accumulate inventories for winter and Chinese New Year, we expect to benefit from the increased demand in this and next quarter."

 

www.ibtimes.com/press-release/20121126/...ess-receiving-orders

 

“China’s accumulated steel exceeded five billion tonnes in 2007, and has been increasing by 500 million tonnes every year after that. By 2015, China will see a significant increase in scrap supply, and as a scrap company, we should get ready for it,” Yao said.

About 35-40% of steel produced in China goes to the construction sector, and it usually takes 25-30 years before these are recycled. China will soon enter its prime period for recycling construction steel.

Technological upgrades will also make industrial machinery obsolete faster, while the rapid growth in China’s vehicle population means more ferrous scrap will be generated from the auto industry, Yao said.

“Annual vehicle production reached 10 million since 2009. The recycling cycle is about eight to 10 years. We have almost reached the peak of vehicle recycling,” he said.

Surplus shipping capacity will also result in more ferrous scrap, he added.

“Let’s not forget ferrous scrap from household appliances, which make up 30% of China’s steel reservoir. We are expecting household appliances to be one of the major sources that add to the ferrous scrap supply jump,” Yao said.

Hurdles

Equipped with advanced shredders, China Armco Metals’ processing capacity is 0.8-1 million tpy, but its current utility rate is at a low 30-40% due to inadequate scrap supply.

“Tightened liquidity also holds the company back from raising utility rates because investments are required for the construction of scrap yards and facilities to house and process the scrap feed,” Yao said.

To overcome this, China Armco Metals is in talks with several companies including steel mills for possible loans and prepayment for longer-term scrap contracts.

“Armco Metals has secured a 60,000-tonne sales agreement with China Metal Recycling (Holdings) Ltd for the next three months. We have developed a long-term and strategic cooperation relationship with CMR, one of the largest scrap metal recycling companies in China,” Yao said.

“We are also expecting to sign an annual sales contract with Shagang Huaigang Special Steel for the supply of 150,000 tonnes of scrap, and we are in talks with Baosteel Resources over a similar pact for 300,000 tonnes of material. In addition to these, we hope to gain cash support from mills as well to facilitate the output,” he added.

“In 2010, after Armco Metals listed in the USA, we bought into iron ore assets in Australia, but it didn’t turn out to be a profitable move. The junior project couldn’t come on stream as planned due to a cost surge and tumbling iron ore prices,” Yao said.

Armco Metals bought a 19.9% stake in Australian Apollo Minerals in June 2010 for A$4.3 million ($4.5 million), and signed an offtake agreement for 15% of the iron ore produced. The shipment for its first ore had been planned for 2013 but it has since been delayed.

www.armcometals.com/News/...hinas%20growing%20scrap%20appetite

 

China Armco Metals, Inc. has made a similar (albeit it inconsistent) bowl-shaped turnaround since August, slowly approaching its 200-day moving average line as well. Though we'd seen hints of strength in the form of pushoffs off the 20-day and 50-day moving averages, the fact that the 200-day moving average was such a big problem for CNAM in September has likely kept the bulls at bay. In the meantime though, a couple of bullish clues have popped up.

One of them is growing bullish volume, which become 'convincing' with today's bullish pop from CNAM (which seems to have started with a pushoff of short-term key moving averages). The second clue is the fact that we can now see that there's a long string of higher highs and higher lows. If China Armco Metals can just get over that 200-day moving average line at $0.463, then the floodgates could really open. 

www.smallcapnetwork.com/...a/1789/article/view/p/mid/3/id/299/

 

 

 

7:31AM China Armco Metals renews financing facility with leading bank, securing $15 mln trade finance facility (CNAM) 0.54 : Co announced that on Nov 13, 2012 Armco Metals International Limited, the Co's wholly owned subsidiary, signed a third amendment to the Facility Letter dated March 25th, 2009 (the "Amendment") with RB International Finance (Hong Kong) Limited (formerly known as RZB Austria Finance (Hong Kong) limited) ("RB International") to renew an expired finance facility. According to the Amendment, RB International will provide up to USD $15 mln of uncommitted trade finance facilities to Armco Metals International Limited, with the purpose of financing the Co's purchase of iron ore, chrome ore, manganese ore, nickel ore and any other acceptable products from time to time 

finance.yahoo.com/marketupdate/inplay#cnam

 

http://www.bloomberg.com/news/2012-12-26/iron-ore-rallying-most-since-10-as-china-rebounds-commodities.html?cmpid=yhoo

Das sollte also mit der Aktie noch um vieles höher gehen.......................wir sind gespannt.

 

frohes und gesundes und erfolgreiches Neues Jahr für Euch Alle..............................forum-media.finanzen.net/forum/smiley/smiley-wink.gif" style="max-width:560px" />

SAN MATEO, Calif., Jan. 2, 2013 /PRNewswire/ – China Armco Metals, Inc. (NYSE MKT: CNAM) (“China Armco” or the “Company”), a distributor of imported metal ore and metal recycler with a new state-of-the-art scrap metal recycling facility in China, today announced that Armco ( Lianyungang) Renewable Metals, Inc., the Company’s wholly owned subsidiary, has obtained the qualification from Chinese regulators to import and process various scrap metals, including waste metal appliances, scrap wires/cables and waste electric motors, from overseas to China directly.

The qualification was approved and authorized by the Ministry of Environmental Protection of the PRC after its strict examination and assessment. The Company has been working on the application of the license since entering the scrap metal recycling business and the Company believes that the obtaining of the qualification is a big milestone in its recycling business development. With the license, China Armco can import and process scrap metals from overseas directly, which will significantly improve its global sourcing capability and cost control by removing import agents and directly working with global suppliers. More importantly, this license is the key to the Company’s business strategy which it aims to generate excess profits in processing imported scrap metals by capitalizing on China labor cost advantages and its state-of-the-art scrap metal recycling facility.

“I am very excited about the important progress of our recycling business, which we have been working hard on since we entered the business,” said Mr. Kexuan Yao, Chairman and CEO of the China Armco. “The import license is an important and valuable asset of the Company. Obtaining the license enables management to further implement our business strategy of achieving excess profit through processing imported scrap metals that we believe could produce higher margin products than those of local scrap metals, and establishing the Company’s competitive advantage over other players in the market. Also we believe that the Chinese qualification will further help us to build our reputation in the industry and market. Management is now more confident in our recycling business operation and strategy and in our effort to deliver more value to all our shareholders.”

ABOUT CHINA ARMCO METALS, INC.
China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and is in the recycling business in the PRC. China Armco’s customers throughout China include some of the fastest growing steel producing mills and foundries in the PRC. Raw materials are acquired from a global group of suppliers located in diverse countries, including, but not limited to, Brazil, India, Indonesia, Ukraine and the United States. China Armco’s product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore, steel billet and recycled scrap metals. For more information about China Armco, please visit www.armcometals.com.

SAFE HARBOR STATEMENT
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Armco Metals, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations regarding our revenues and production related to our scrap metal recycling operations, pricing and demand for our product lines and the extent of government imposed energy and monetary policy restrictions and resulting blackouts and associated impact on our trading and recycling operations.

In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations:

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the following, including, but not limited to, any expectations with respect to the Company’s revenues and operations, institution of governmental regulations relating to our businesses and the international economic climate, and the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2011 , and each of our Quarterly Filings on Form 10-Q for the periods ended March 31, 2011, June 30, 2011 and September 30, 2011, respectively.

 

www.dailymarkets.com/stock/2013/01/02/...-from-prc-government/

CONTACT INFORMATION:

China Armco Metals, Inc.
US Investor Relations Contact
Christina Xiong
Office: 650.212.7620
Email: christina@armcometals.com
ir@armcometals.com
Website: www.armcometals.com

China Contact:
Ripple Zhang
Office: 86-21-62375286
Email: ripple.zhang@armcometals.com
Website: www.armcometals.com 

na - wer jetzt nicht langsam reingeht?  2012 + 100% und 2013???  100 und mehr?

bin da guter

... (automatisch gekürzt) ...

http://www.marketwatch.com/story/...eel-companies-in-china-2013-01-07

Interessant:

 

www.recyclingtoday.com/rt0113-ferrous-scrap-markets-2013.aspx

 

Finally, on December 10th we had already observed China Armco Metals, Inc. starting to find support at the 20-day and 50-day moving averages. The problem at the time was that CNAM had also hit a ceiling at the 200-day moving average line. Nevertheless, the buying volume was really starting to flow, and the upside looked good.

 Now it looks great. Since then - and as the nearby chart shows - the stock's made its way above the 200-day average line, and is now finding support there. Better still, the 20-day moving average line has caught up with the surge from mid-December and is now also playing a support role. The rally is hardly over though. As you can see from Friday's bar, China Armco Metals shares are once again pushing up and off support levels and testing new highs.

www.smallcapnetwork.com/...a/1789/article/view/p/mid/3/id/319/

 

iuIntroduction

·World growth will stabilize in 2013

·After having slowed down from 4.2% in 2010, to 3.0% in 2011 to around 2.6% in 2012 (with the Eurozone and Japan going back into recession), the growth rate of the world economy will hold steady at around 2.5% in 2013

·Moreover, the stage will be set for a modest acceleration of growth in latter part of the year and in 2014

·The massive monetary stimulus put in place in many key economies over the past year and a half will have some positive impact on growth

·The current episode of “extreme uncertainty”—related to the US fiscal cliff, the Eurozone debt crisis, China’s growth, and instability in the Middle East and Africa—will become less intense, and worries about many of these risks will diminish 

www.armcometals.com/News/...conomic%20Predictions%20for%202013

 

The price of iron ore delivered to China, the largest importer, climbed to a 14-month high in what Credit Suisse Group AG described as “one last hoorah.”

Iron ore rallied 39 percent in the three months through December, the biggest gain since at least 2009.

The steelmaking raw material rallied 39 percent in the three months through December, the biggest gain since at least 2009, as demand in China rebounded on optimism the world’s second-largest economy is recovering. Gross domestic product is poised to expand 8.1 percent this year, from 7.7 percent in 2012, according to the median estimate of economists surveyed last month by Bloomberg. Baoshan Iron & Steel Co. (600019), China’s largest steelmaker, said on Jan. 7 that it will raise product prices.

“A steady improvement in Chinese demand, and faint stability elsewhere, have created the conditions for one last run up in iron ore prices before new supply causes them to ebb back,” Credit Suisse said in an e-mailed report today.

The spike in iron ore prices is likely to be temporary, the Australian newspaper said Jan. 3, citing Sam Walsh, Rio Tinto Group’s iron ore and Australia chief executive officer. Rising Chinese demand has created conditions for a last run up in prices, Credit Suisse Group AG said Jan. 3, forecasting an average $130 a ton in the first quarter and $125 in the second.

“The theme for iron ore in 2013 could be a tale of two halves in our view: strength in H1 and weakness in H2,”Deutsche Bank analysts Daniel Brebner and Xiao Fu said in the report dated yesterday. Inventories of steel and iron ore have fallen “considerably within China over the past two quarters.”

Buying and selling of iron ore swaps rose to 111.5 million tons in 2012, from 43.4 million tons in 2011, according to data published on the website of SGX Asia Clear, a Singapore-based clearing house. 

www.armcometals.com/News/...rice%20Rises%20to%2014Month%20High