LONDON, July 1 (Reuters) – Most base metals rebounded on
Wednesday on brighter prospects for a Greek bailout deal and
after solid U.S. economic data that spurred hopes for stronger
Many investors scrambled to close out short positions after
profiting from sharp falls over the past two days when some
metals hit multi-year lows.
LONDON (Reuters) – Shrinking tin stocks, dwindling supplies from Myanmar and new Indonesian rules to curb exports are at last creating conditions for bulls who for some time have expected to see higher prices.
But the optimism is tinged with caution as much depends on whether top exporter Indonesia can limit its shipments abroad, something it has failed to do in recent months.
LONDON, June 23 (Reuters) – The aluminium market is unlikely
to see enough producer cutbacks to reduce oversupply in coming
months as currency benefits and cheaper inputs have allowed most
smelters to stay out of the red.
That means the price of the lightweight metal used in
transport and packaging may be drawn still lower towards levels
that would force more supply to be shut down, analysts and
industry sources said.
LONDON (Reuters) – Surcharges for physical aluminum have settled close to equilibrium levels after tumbling by up to three-quarters this year, supported by consumer buying and more attractive conditions for financing deals.
Tapering Chinese exports of the metal will also help stabilize surcharges; a glut of aluminum had been a big factor in setting off a slide in premiums late last year and early in 2015.
LONDON (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) and rivals in the commodity trade finance sector are facing headwinds of weak oil prices, sanctions on Russia and stiff competition, which have pressured fees.
The U.S. bank, which launched its business in the sector three years ago, has shifted attention from China, where fees are weak, to Africa and Latin America, said Kris van Broekhoven, global head of commodity trade finance.
LONDON, June 9 (Reuters) – The Singapore Exchange Ltd
aims to expand in the energy sector and is considering
creating a global market in spot liquefied natural gas (LNG)
trading as well as an Asian benchmark for crude oil, its
president said on Tuesday.
Its push in the sector gained momentum after SGX’s purchase
of a majority stake late last year in Energy Market Company
(EMC), which provides spot prices for electricity in Singapore.
LONDON, June 4 (Reuters) – Zinc prices are likely to
struggle in the short term, weighed down by a more plentiful
supply situation than forecast.
More inventories are due to move into LME warehouses while
two mine operations will produce more than expected despite
well-flagged closures, analysts and industry sources said.
LONDON, June 3 (Reuters) – U.S. bank Citigroup Inc
said it currently has no metals financing clients in China after
suspected fraud led to a web of lawsuits, and was reviewing the
future of the business.
While the bank retreated in that area, it still managed to
achieve broad growth in commodities as others withdrew from the
LONDON (Reuters) – U.S. bank Citigroup Inc said it has withdrawn from metals financing in China after suspected fraud that led to a web of lawsuits.
But while the bank retreated in that area, it still managed to achieve broad growth in commodities as others withdrew from the sector.
LONDON (Reuters) – Tata Steel UK’s biggest trade union voted on Friday to go on strike, setting the scene for the biggest labor action in the British steel sector in three decades.
Members of the trade union Community voted 88 percent in favor of going on strike, a statement said.