Eric's Feed
Mar 3, 2015

Copper falls on weak China outlook, nickel near 14-month low

LONDON, March 3 (Reuters) – Copper slid on Tuesday from a
seven-week peak hit the previous session and nickel sank to a
near 14-month low as optimism over a weekend interest rate cut
in top consumer China dissipated and as inventories continue to
rise.

The main stock indexes in China, which consumes some 45
percent of the world’s copper, fell more than 2 percent earlier
as regulators’ approval of a flood of new initial public
offerings prompted worries over tighter liquidity.

Mar 2, 2015

London Metal Exchange aims to further cut warehouse logjams

LONDON (Reuters) – The London Metal Exchange (LME) announced new rules and proposals on Monday aimed at further slashing delivery backlogs at its global network of warehouses.

The move comes as part of a wide-ranging reform package, sparked by consumer complaints about long delays to obtain aluminum from storage and lawsuits accusing banks and commodity companies of conspiring to restrict supply through the warehouse network.

Feb 27, 2015

Copper falls after inventories rise; set for monthly gain

LONDON, Feb 27 (Reuters) – Copper fell on Friday following
sharp increases in inventories, reigniting concerns about
oversupply weighing on the market and giving bearish Chinese
speculators a chance to resume selling.

But the wider trend in recent weeks has been of bullish
investors betting on a price recovery ahead of China’s
seasonally strong second quarter, and the metal remains on track
to record its biggest monthly gain since September 2012.

Feb 25, 2015

Drought in Chile curbs copper production, to trim global surplus

LONDON/SANTIAGO, Feb 25 (Reuters) – A drought in Chile is
hampering copper production, a water-intensive business, in the
world’s biggest producer of the metal, one more factor that
could trim an expected surplus this year.

Both Anglo American and BHP Billiton have
said the extremely dry conditions have hit production due to
restrictions on water, used for everything from toilets for
workers to separating the metals in the ore body from waste rock
and tamping down dust that heavy trucks kick up.

Feb 24, 2015

Copper rises as Greek reform plan okayed, awaits Fed speech

LONDON, Feb 24 (Reuters) – Copper rose on Tuesday as
investors were encouraged over Greece’s bailout plan and as oil
prices staged a rebound.

Gains were held in check, however, as the market waited to
see if Chinese buyers would return in force after a holiday and
for clues from the U.S. central bank about the timing of rate
rises.

Feb 23, 2015

Copper dips on concern over Greek deal, as oil falls

LONDON, Feb 23 (Reuters) – Copper slipped on Monday on
worries about a Greek bailout deal, concern about upcoming
testimony by the U.S. central bank chief and as oil prices
dropped.

Three-month copper on the London Metal Exchange
dropped 0.7 percent to $5,655.50 a tonne by 1108 GMT after a 1
percent loss in the previous session.

Feb 18, 2015

Copper rebounds as Chinese sellers go on holiday

LONDON, Feb 18 (Reuters) – Copper rebounded on Wednesday
after hefty falls in the previous session as some bulls took
advantage of Chinese investors being absent due to the week-long
Lunar New Year holiday.

Chinese funds helped drive a rout on copper markets last
month that sent prices spiralling down to the lowest levels in
5-1/2 years amid worries about a slowing Chinese economy and
surging copper inventories.

Feb 17, 2015

Copper falls on China and Greece worries, tin shrugs off quota

LONDON, Feb 17 (Reuters) – Copper and other base metals fell
on Tuesday on concerns about demand in China and after debt
talks between Greece and its European partners collapsed.

Investors were unnerved by data showing average new home
prices in China’s 70 major cities fell for the ninth straight
month in January.

Feb 13, 2015

Anglo takes $3.9 bln writedown, but holds dividend steady

LONDON, Feb 13 (Reuters) – Global miner Anglo American
took a $3.9 billion writedown after commodity prices
tumbled and it warned on Friday of more headwinds, but a steady
dividend reassured investors.

The rout on commodity markets that has seen iron ore prices
slide by half over the past 12 months has also forced Anglo and
other mining groups to slash capital spending and cut costs.

Feb 11, 2015

Copper steadies after loss, tin hits fresh 2-1/2 year low

LONDON, Feb 11 (Reuters) – Copper steadied on Wednesday as
some investors bet that a floor had been reached after heavy
losses, while tin touched a fresh 2-1/2 year low on worries
about weak demand.

Three-month copper on the London Metal Exchange
ended up 0.09 percent at $5,600 a tonne, paring losses of 1.4
percent from the previous session when it hit its lowest in a
week.