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Jul 29, 2014

LME, Rusal spar at appeal hearing over warehouse reform

LONDON, July 29 (Reuters) – The London Metal Exchange (LME)
and Russian aluminium giant Rusal sparred in court on
Tuesday as the LME sought to overturn a court ruling and allow
it to implement tough warehousing rules to cut backlogs.

The dispute is over whether the LME, the world’s oldest and
biggest market for industrial metals, should have to launch a
fresh consultation after a March court ruling labelled its
original process as “unfair and unlawful”.

Jul 28, 2014

Court appeal to move LME closer to cutting warehouse backlogs

LONDON, July 28 (Reuters) – The London Metal Exchange (LME)
is likely to move quickly to implement its tough warehousing
rules to cut backlogs if it is successful at an appeal hearing
this week, metals market sources said.

But even if it loses the appeal case against Russian
aluminium giant Rusal, the rules designed to speed up
deliveries of metal from depots in the LME’s global network are
likely to come into force by year’s end after another
consultation period, the sources said.

Jul 21, 2014

Zinc, aluminium hit multi-month highs, copper steady

LONDON, July 21 (Reuters) – Zinc and aluminium prices hit
their highest in more than a year on Monday as investors sought
exposure to commodities with improved fundamentals, but copper’s
gains were curbed by worries over China’s property sector and
over a build-up of stocks.

The gains were probably driven by CTAs (commodity trading
advisors), or managed futures funds, said analyst Andrey
Kryuchenkov at VTB Capital, referring to funds that often use
computer algorithms to track momentum.

Jul 21, 2014

Investors swap grains for metals as flows trickle to commodities

LONDON, July 21 (Reuters) – Investors are slowly being drawn
back into commodities, attracted by stronger global economic
growth and more volatility within sub-sectors, typified by
current investment flows out of grains into industrial metals.

The sector has been shunned in recent years, knocked by poor
returns during the financial crisis which saw commodities move
in step with other assets.

Jul 9, 2014

Hidden Chinese tin stocks, weak demand head off expected deficit

LONDON, July 9 (Reuters) – The export of hidden Chinese tin
stocks is likely to be behind a puzzling rise in London Metal
Exchange (LME) inventories that has frustrated investors who
expected to see shortages this year.

At the start of the year, tight supply-demand fundamentals
led to numerous forecasts that tin prices would rise.

Jul 9, 2014

Zinc gains 1 pct on forecast for shortages, global growth

LONDON, July 9 (Reuters) – Zinc climbed more than 1 percent
on Wednesday as investors extended buying on forecasts of
shortages of the metal due to mine closures and as a proxy for
recovering global growth.

Copper prices hovered near their highest in almost five
months, while aluminium matched a 13-month top.

Jul 8, 2014

Copper hits highest since Feb, zinc races to 3-year peak

LONDON, July 8 (Reuters) – Copper, aluminium and zinc
touched fresh peaks on Tuesday, driven by speculators buying
back short positions as the outlook for the global economy
brightened.

Zinc surged to its loftiest in three years, also boosted by
worries over future shortages, while aluminium hit a one-year
high and copper the strongest in nearly five months.

Jul 3, 2014

Nickel jumps to six-week peak, copper at 4-month high

KUALA LUMPUR/LONDON, July 3 (Reuters) – Nickel surged to a
six-week peak on Thursday and copper prices touched their
highest levels in more than four months on fund buying after
strong U.S. jobs data boosted hopes that economic recovery
would spur demand for industrial metals.

Zinc hit its highest level in nearly three years and
aluminium climbed to the strongest level in more than 10 months.

Jul 1, 2014

Conflict minerals law starts working despite poor industry response

LONDON, July 1 (Reuters) – A U.S. law on conflict minerals
is curbing African warlords’ presence around mines in Congo,
campaigners say, but its full impact remains unclear, with most
firms failing to pinpoint the origin of their metals by a June
deadline.

Millions are estimated to have died in nearly two decades of
bloodshed in eastern Democratic Republic of Congo (DRC) fuelled
by the minerals smuggled through Rwanda, Uganda and Burundi.

Jun 24, 2014

Lead hits five-month peak, tracks zinc rally as deficits loom

LONDON, June 24 (Reuters) – Lead prices hit a five-month
high on Tuesday, benefiting from a rally in zinc as investors
bet that shortages in the two metals would build up and deficits
become deeper.

Three-month lead on the London Metal Exchange was
the top performer, rising to a session high of $2,192 a tonne,
the strongest since Jan. 23. It later pared gains to $2,184.75
by 1353 GMT, a rise of 0.4 percent.