Commodities Correspondent
Pratima's Feed
Jul 27, 2015

Speculators show global commodities rout still has legs

LONDON (Reuters) – Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south.

But while more losses are certain, their scope could be limited because a large number of speculators have already made bets that prices will fall.

Jul 27, 2015

Speculators show global commodities rout still not over

LONDON, July 27 (Reuters) – Speculators have confirmed what
everyone else has been thinking: expect more falls in
commodities, as worries about China and higher interest rates
combine with waning sentiment to suggest markets are heading
further south.

But while more losses are certain, their scope could be
limited because a large number of speculators have already made
bets that prices will fall.

Jul 23, 2015

Waning China demand means larger lead market surplus: Reuters poll

LONDON (Reuters) – The global lead market this year is likely to see a bigger surplus than previously expected due to falling consumption in top user China, where slower growth means weaker demand for electric bicycles and cars, a quarterly Reuters survey showed.

The median of nine forecasts showed the lead market would have a surplus of 21,000 tonnes this year. A deficit of 29,500 tonnes is forecast for 2016.

Jul 22, 2015

Copper hits 2-week low as China demand worries mount

LONDON, July 22 (Reuters) – Copper prices hit a two-week low
on Wednesday as worries about demand from top consumer China
mounted and equity market losses around the world reinforced
negative sentiment.

Benchmark copper on the London Metal Exchange
earlier hit a low of $5,352.50 a tonne. The metal, widely used
in power and construction, was trading down at $5,385 a tonne at
1043 GMT from $5,455 at the close on Tuesday.

Jul 16, 2015

LME may have to curb price volatility in line with peers

LONDON, July 16 (Reuters) – The London Metal Exchange may
have to introduce rules to rein in extreme volatility to conform
with other exchanges and regulatory regimes, industry sources
said.

Prices of industrial metals have fallen fast in recent
months on worries about demand growth in top consumer China,
with concerns reinforced last week as China’s stock market woes
pulled copper down to a six-year low of $5,240 a tonne.

Jul 15, 2015

Nickel’s fightback begins but obstacles loom

LONDON, July 15 (Reuters) – Prospects for tighter nickel
supplies may have put a floor under prices but any real recovery
will need Chinese stainless steel mills to step up their orders
and global stockpiles to fall.

Benchmark nickel on the London Metal Exchange fell to
six-year lows of $10,430 a tonne last week on worries about
demand, particularly after a tumble in Chinese equities.

Jul 7, 2015

Chinese equities, Greek crisis push copper to 5-month low

LONDON, July 7 (Reuters) – Copper prices slid to a
five-month low on Tuesday as the dollar gained due to the
potential for financial instability created by the Greek debt
crisis and Chinese equity market losses, which show no signs of
abating.

Benchmark copper on the London Metal Exchange
earlier hit $5,475 a tonne, the lowest since Jan. 30. The metal,
used in power and construction, was trading at $5,489 at 0931
GMT from $5,590 at Monday’s close.

Jul 6, 2015

Oil, copper buckle under China demand angst, Greek ‘No’

LONDON, July 6 (Reuters) – Commodity prices tumbled on
Monday after Greece voted against conditions for a bailout
package and top consumer China unleashed emergency measures
aimed at halting the sharp slide in its stock market.

The common denominator was the firmer dollar, which when it
rises makes commodities across the board more expensive for
holders of other currencies.

Jul 3, 2015

Lower dollar, possibility of output cuts support copper

LONDON, July 3 (Reuters) – Copper held firm on Friday,
helped by a lower dollar and expectations that further price
falls could cause production cuts, but a seasonal demand lull is
likely to check gains.

Benchmark copper on the London Metal Exchange traded
at $5,801 a tonne at 0926 GMT from $5,795 at Thursday’s close.

Jul 2, 2015

Copper buoyed by improved growth prospects for China, weaker dollar

LONDON, July 2 (Reuters) – Copper prices rose on Thursday,
buoyed by signs of healthier growth prospects for the metal’s
top consumer China and a sliding dollar after weak U.S. monthly
jobs data.

Three-month copper on the London Metal Exchange
ended up at $5,795 a tonne from $5,775 at the close on
Wednesday.