Carole's Feed
Oct 8, 2010

Alcoa moves to alumina index price, Aviles ramps up

NEW YORK (Reuters) – Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz), the largest U.S. aluminum producer, expects both its Aviles smelter in Spain and its alumina refinery in Sao Luis, Brazil to be running at full capacity by the end of the year.

Company executives also said on Thursday that the world’s biggest alumina producer is changing the way it prices its alumina, an intermediate material used to produce aluminum.

Sep 27, 2010

Gold hits $1,300/oz record; silver a 30-yr top

NEW YORK/LONDON (Reuters) – Gold hit a record high of $1,300 an ounce on Monday, extending a two-week rally of fresh records on concerns over an economic recovery, before easing off session highs as the dollar rose.

Silver tracked the yellow metal higher, rising to a 30-year high but also slipped from the previous high. Silver has gained nearly 30 percent so far this year.

Sep 20, 2010

Century negotiates Ravenswood contract, no progress

NEW YORK, Sept 20 (Reuters) – Century Aluminum Co (CENX.O: Quote, Profile, Research, Stock Buzz)
continues to negotiate terms of a labor contract that expired
last month for its idled aluminum smelter at Ravenswood, West
Virginia, but no details have been decided about a plant
restart, a United Steelworkers union representative said on

The Monterrey, California-based primary aluminum producer
idled its 170,000-tonne-per-year aluminum smelter at Ravenswood
in February 2009, and has given no indication about when it
might be turned back on.

Sep 10, 2010

Gold ends off, hit by firm dollar as ECB sale awaited

NEW YORK (Reuters) – Gold prices steadied at moderately lower levels below $1,250 an ounce on Friday as the yen slid against the dollar and investors continued to unwind safe-haven plays made this week, but analysts said the IMF’s late Thursday gold sale lent support.

Spot gold at $1,245.85 an ounce was down by 3:38 p.m. EDT (1938 GMT) from Thursday’s closing bid at $1,248.27 an ounce. It fell to $1,236.55 an ounce, its lowest in a week.

Sep 9, 2010

Gold loses ground on corrective selling

NEW YORK/LONDON (Reuters) – Gold prices swooned further in late trading on Thursday, adding to losses in light volume as some investors unwound safe-haven trades, setting off automatic sell orders on the way down.

Earlier, gold prices came off modestly when U.S. weekly filings for unemployment benefits fell by more than forecast and the U.S. international trade gap shrank by more than anticipated, but losses were limited.

Sep 8, 2010

Gold off highs as sellers unwind risk play

NEW YORK/LONDON (Reuters) – Gold was little changed late on Wednesday after some investors unwound risk-aversion plays that had sent prices near record highs early, opting instead for rallying assets such as oil and industrial metals.

Spot gold was bid at $1,256.05 an ounce by 3:28 p.m. EDT (1928 GMT) against $1,253.10 late in New York on Tuesday. It hit a session high of $1,262.25, near the record peak of $1,264.90 set on June 21.

Sep 7, 2010

Gold nears $1,260/oz on risk aversion advance

NEW YORK/LONDON (Reuters) – Gold ended with healthy gains on Tuesday after rising early to its highest level since late June, as renewed concerns about the European banking system sent investors seeking safe-haven assets.

Gold bullion was up to $1,256.90 an ounce by 3:31 p.m. EDT (1931 GMT) from $1,249.55 an ounce in late Monday trade. Earlier, it hit a high of $1,259.80.

Sep 2, 2010

Gold settles up; market frets about U.S. jobs data

NEW YORK/LONDON (Reuters) – Gold rose on Thursday, settling slightly higher as investors set positions ahead of the key U.S. employment report, forecast to show a worsening labor market, which could boost demand for safe-haven assets.

Concern about growth-linked assets ahead of the August jobs data sharpened investor appetite for bullion, as exchange-traded funds boosted their holdings.

Aug 17, 2010

Oil, gold, copper gain with euro, stocks, data

NEW YORK (Reuters) – Oil rose on Tuesday, breaking a five-day decline, along with gold, which ran up to a 1-1/2-month high, and copper jumped nearly 2 percent as a weaker dollar, stronger equities and mixed, but positive, readings on the U.S. economy provided the lift.

Despite rising demand for U.S. supplies in the export market, wheat futures fell to a 2-1/2 week low, as investors decided to grab profits after the grain surged to two-year highs recently on worries over drought-stricken Black Sea region crops. <GRA/>

Aug 16, 2010

Gold rises, oil sinks on economic worries

NEW YORK (Reuters) – Oil fell on Monday after weak Japanese and U.S. economic data fed worries about global growth, but gold rose on safe-haven buying while a sinking dollar boosted industrial metals and some other commodities.

Wheat fell as investors took profits on forecasts for rain in drought-hit Russia, and funds pushed arabica coffee to the highest level in more than 12 years as the dollar weakened and nearby supplies tightened.

    • About Carole

      "Based in New York, I cover all North American commodity markets, with a primary focus on metals and more specifically steel and aluminum. I have also covered economics, international economics, foreign exchange, bonds and stock markets for both TV and Reuters wire."
    • Follow Carole