LONDON (Reuters) – Energy traders are at odds with new European Union rules designed to halt speculation in commodities, arguing that companies won’t be able to efficiently manage risk and market volatility could in fact spike.
The European Securities and Markets Authority (ESMA) this week announced its final rules to flesh out the Markets in Financial Instruments Directive II (MiFID II) law that comes into force in January 2017.
LONDON, Oct 1 (Reuters) – Copper climbed to its highest in
more than two weeks on Thursday as slightly above consensus
manufacturing data from top consumer China and output cuts
helped buoy prices.
Benchmark copper on the London Metal Exchange was up
0.8 percent at $5,200 a tonne at 1040 GMT from an earlier
$5,230, the highest since Sept. 22.
LONDON, Sept 28 (Reuters) – European regulators moved on
Monday to curb the influence of speculative trading in commodity
markets and impose tests to determine whether a non-financial
firm’s trading activities should make them subject to new
The European Securities and Markets Authority (ESMA)
announced its final rules to flesh out the Markets in Financial
Instruments Directive II (MiFID II) law that comes into force in
LONDON (Reuters) – A glut of metal and sagging demand growth in top consumer China could come back to haunt copper bulls, who are feeling more confident with prices rising back above $5,000 a tonne from the 6-1/2 year lows hit last month.
Behind the recovery is a focus on weather-related disruptions in countries including Chile and Zambia, thought to have taken out 1.2-1.5 million tonnes of capacity this year, significant in a market estimated at 22 million tonnes.
LONDON, Sept 14 (Reuters) – Copper prices slid on Monday
alongside Chinese equities as economic data from top consumer
China reinforced worries about demand.
Benchmark copper on the London Metal Exchange
earlier fell 1.3 percent to $5,300 a tonne. The metal used in
power and construction was at $5,330 a tonne at 1000 GMT from
Friday’s close at $5,370.
LONDON, Sept 9 (Reuters) – Copper hit a seven-week high on
Wednesday on expectations of tighter supplies though the rally
may not be sustained without improvements in demand from top
consumer China or larger output cuts.
Benchmark copper on the London Metal Exchange was
trading up 0.5 percent at $5,373 a tonne at 1028 GMT. Earlier
the metal used in power and construction rose to $5,434.50.
LONDON, Sept 7 (Reuters) – Glencore’s move to slash copper
output will help shore up prices, but significant gains are
unlikely because supplies are still adequate and growth in
demand is weak, particularly from top consumer China.
The London-listed mining giant said it plans to
suspend 400,000 tonnes of copper output at its Katanga Mining
unit in Democratic Republic of Congo and at Mopani
Copper Mines in Zambia over the next 18 months.
LONDON (Reuters) – Copper bears appear to have taken cover, but they are unlikely to hide for long as falling output costs due to “currency wars” and weak Chinese demand growth provide ample ammunition for another attack over coming months.
Benchmark copper on the London Metal Exchange fell to a six-year low of $4,855 a tonne on Aug. 24, since which time prices of the metal used in power and construction have recovered to above $5,000 a tonne.
LONDON (Reuters) – A first glance at the London Metal Exchange copper price would suggest a market in trouble, but delve beneath the surface and a different picture emerges – one that may well deter speculators from betting on further deep losses.
Benchmark three-month copper futures hit a six-year low of $4,855 a tonne on Monday, capitulating to fears about the growth outlook in top consumer China.
LONDON (Reuters) – Aluminum prices tumbled to six-year lows on Thursday as the market focused on a growing supply glut due to surging exports from top producer China and high stocks.
Benchmark aluminum on the London Metal Exchange fell to $1,576 a tonne (1 tonne = 1.1023 ton), the lowest since July 2009. The metal used in transport and packaging pared losses to $1,591 a tonne by 1403 GMT (1003 EDT), down 0.4 percent.