Eric's Feed
Oct 20, 2014

HK exchange wants trading link with Shanghai for commodities

LONDON, Oct 20 (Reuters) – The Hong Kong stock exchange
(HKEx) said it aimed to create a link to trade commodities with
mainland China by adapting a share trading system with the
Shanghai Stock Exchange that is on the cusp of going live.

No firm date has been announced for the launch of the link
between HKEx and the Shanghai exchange, but sources have told
Reuters it is due to begin on Oct. 27.

Oct 20, 2014

LME CEO plays Asia card as gold market decides on fix replacement

LONDON (Reuters) – The London Metal Exchange (LME) hopes its links to Asia and expertise in physical metals will help it win the right to manage the century-old London gold pricing benchmark, chief executive Garry Jones said.

The 137-year-old exchange is also upbeat that Chinese regulators will give the green light to extend its global base metals warehouse network to mainland China perhaps next year, a key element in its strategy to capture more business from the world’s biggest metals consumer, he told Reuters.

Oct 17, 2014

Stakes high as LME bets on China expansion, luring fund investors

LONDON, Oct 17 (Reuters) – London Metal Exchange, the
world’s biggest industrial metals market, heads into LME Week on
Monday fresh from a legal victory that enables reform of its
warehousing system and winning a foothold in benchmarking
precious metals.

But those two successes alone will not ensure that the $2.2
billion deal by Hong Kong Exchanges and Clearing Ltd (HKEx)
in 2012 to acquire the 137-year old exchange will pay
off.

Oct 10, 2014

Commodity insiders wring hands over poor investment prospects

LONDON (Reuters) – In a telling sign that commodities may struggle for several years to attract investment flows, a clutch of professionals who make their living from the asset class slammed its prospects at a recent conference.

One speaker dismissed one by one the attractions of holding commodities in an investor portfolio.

Oct 9, 2014

LME prevails in legal showdown with Rusal on metal warehouse reform

LONDON/MOSCOW (Reuters) – The London Metal Exchange (LME) won its appeal against a court ruling that had halted sweeping reform – aimed at easing huge backlogs to withdraw metal from its global warehousing network – which it said it will implement from Feb 1.

The ruling may have scant impact on the market, however, because warehouse firms have already made changes to the way they operate, anticipating LME’s legal win, analysts said.

Oct 8, 2014

LME prevails in legal battle with Rusal on metal warehouse reform

LONDON/MOSCOW, Oct 8 (Reuters) – The London Metal Exchange
(LME) won its appeal against a court ruling that had halted
sweeping reform, aimed at easing huge backlogs to withdraw metal
from its global warehousing network.

Wednesday’s ruling may have scant impact on the market
because warehouse firms have already made changes to the way
they operate, anticipating LME’s legal win, analysts said.

Oct 3, 2014

Copper, aluminium bounce, but vulnerable to more losses

LONDON, Oct 3 (Reuters) – Copper and aluminium bounced on
Friday, a day after touching multi-month lows, but traders said
it may not last as investors remained worried about a strong
dollar and weaker demand in top metals consumer China.

“There’s a bit of stabilisation today, but I don’t think it
necessarily marks a turning point back up,” said Stephen Briggs,
metals strategist at BNP Paribas in London.

Oct 2, 2014

Copper slides to 5-month low as ECB fails to impress

LONDON, Oct 2 (Reuters) – Copper and aluminium slid to fresh
multi-month lows on Thursday after the European Central Bank’s
monthly meeting failed to inspire confidence about future
growth, stoking fears about metals demand.

Prices were also vulnerable to further pressure from a
strong dollar as data showed that the U.S. economic recovery
gained pace, supporting the case for a rise in interest rates.

Oct 2, 2014

Copper falls to 16-week low as ECB fails to impress

LONDON, Oct 2 (Reuters) – Copper hit a 16-week low and
aluminium slipped to its weakest in three months on Thursday
after the European Central Bank’s monthly meeting failed to
inspire confidence about future growth, stoking fears about
metals demand.

Prices were also vulnerable to further pressure from a
strong dollar as data showed that the U.S. economic recovery
gained pace, supporting the case for a hike in interest rates.

Sep 29, 2014

Copper steadies along with dollar, nickel slides

LONDON, Sept 29 (Reuters) – Copper prices steadied on
Monday, after earlier touching their lowest level in almost
three months, as the dollar pulled back from an earlier
four-year high against a basket of currencies.

Nickel slid as inventories piled up to another record high.

Benchmark copper on the London Metal Exchange (LME)
was up 0.35 percent at $6,740 by 1449 GMT after falling to a
session low of $6,666 a tonne, its weakest since June 16.