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”.
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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
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.