Commodities Correspondent
Pratima's Feed
Nov 9, 2010

Gold hits record on Euro zone debt fears

LONDON (Reuters) – Gold surged to a record high for the fourth day running on Tuesday, fuelled by renewed concern over high sovereign debt in euro zone countries such as Ireland and Greece and inflationary pressures.

Spot gold hit $1,422.30 a troy ounce. The precious metal was bid at $1,418.40 an ounce at 11:24 a.m. British time from $1,409.09 late in New York on Monday.

Nov 8, 2010

Copper ends flat; strong fundamentals limit losses

NEW YORK/LONDON, Nov 8 (Reuters) – Copper steadied below
two-year highs by Monday’s close, bucking the negative impact
of a stronger dollar, as investors bought the industrial metal
as an inflation hedge and amid concerns over supply tightness.

Benchmark copper CMCU3 on the London Metal Exchange ended
at $8,660 a tonne, unchanged from the close on Friday when the
price rallied to $8,769.50, its highest since July 2008.

Nov 8, 2010

Watchdog gets complaint on base metal ETPs

LONDON (Reuters) – Britain’s financial services regulator said it has received a complaint over plans for base metal exchange traded products (ETPs), reflecting fears they could tip a finely balanced copper market into deficit and distort prices.

The complaint had not come from official quarters of the London Metal Exchange, an exchange spokesman told Reuters on Monday, adding that the exchange had no plans to block ETPs.

Nov 4, 2010

Fed, dollar give copper bulls the upper hand

LONDON, Nov 4 (Reuters) – Copper surged to its highest in
more than two years on Thursday after the U.S. Federal Reserve
took steps to boost growth and demand in the United States, the
world’s largest economy.

Benchmark copper CMCU3 on the London Metal Exchange traded
at $8,539.5 a tonne in official rings from $8,320 at the close
on Wednesday. The metal used in power and construction hit
$8,580 a tonne, its highest since July 2008, when it touched a
record $8,940 a tonne.

Nov 4, 2010

Fed gives copper bulls the upper hand

LONDON, Nov 4 (Reuters) – Copper climbed on Thursday after
the U.S. Federal Reserve took steps to boost growth and demand
in the world’s largest economy and the market tried to factor in
higher energy costs in top consumer China.

Benchmark copper CMCU3 on the London Metal Exchange was
trading at $8,489 a tonne at around 1050 GMT from $8,320 at the
close on Wednesday. The metal used in power and construction
last month hit $8,554, its highest since July 2008.

Oct 7, 2010

Supply crunch to propel tin to dizzy heights

LONDON (Reuters) – Tin’s rise in recent days to dizzying heights has been fast and furious and while a correction is thought to be inevitable, scarce supplies mean $30,000 a tonne is likely before too long.

Benchmark tin on the London Metal Exchange has surged by more than 50 percent so far this year to $26,790 a tonne — a record high for the metal used for soldering in the electronic industry.

Oct 5, 2010

Grains and livestock seen as neat play on China growth

LONDON, Oct 5 (Reuters) – Investors looking to gain from
China’s phenomenal growth should look further at grains and
livestock as food demand in the country will outstrip the
country’s ability to produce it, a conference heard on Tuesday.

Demand for agricultural commodities has raced ahead in China
partly due to changing diets, with rising incomes leading to
more consumption of meat.

Sep 23, 2010

Aluminium in autos grows, but steel to stay dominant

LONDON (Reuters) – Steel will remain the dominant material in the manufacture of cars even as environmental pressures lead to greater use of lightweight aluminium.

But aluminium is more expensive than steel and prices are considered more volatile. What’s more, steel producers have not been sitting on their hands. They are developing lighter, stronger steels to cut car fuel consumption and harmful emissions.

Sep 22, 2010

Analysis: Aluminium in autos grows, but steel to stay dominant

LONDON (Reuters) – Steel will remain the dominant material in the manufacture of cars even as environmental pressures lead to greater use of lightweight aluminum.

But aluminum is more expensive than steel and prices are considered more volatile. What’s more, steel producers have not been sitting on their hands. They are developing lighter, stronger steels to cut car fuel consumption and harmful emissions.

Sep 17, 2010

Supply shocks revive raw materials appetite

LONDON (Reuters) – Supply shocks have revived the idea commodities can diversify an investment portfolio after around two years in which raw materials have moved in lockstep with other assets classes such as stocks and bonds, a conference heard on Thursday.

The collapse of Lehman Brothers in September 2008 hit confidence across financial and commodity markets as investors tried to price recession and the possibility of a 193Os style depression.