Commodities Correspondent
Pratima's Feed
Aug 19, 2010

Copper up but demand doubts linger

LONDON, Aug 19 (Reuters) – Copper rose to its highest in
more than week on Thursday as traders priced in growing appetite
for assets perceived to be risky, but lingering concerns about
demand are expected to cap gains.
In the aluminium market, traders were watching significant
long positions, holding 30 to 40 percent of warrants on London
Metal Exchange stocks and cash contracts. [ID:nLDE67H16C]

Benchmark copper CMCU3 on the LME was trading at $7,485 a
tonne at 1023 GMT from $7,390 a tonne at the close on Wednesday.
The metal used in power and construction earlier touched $7,487
a tonne, its highest since Aug. 9.

Aug 19, 2010

Copper up but demand doubts linger

LONDON, Aug 19 (Reuters) – Copper rose to its highest in
more than week on Thursday as traders priced in growing appetite
for assets perceived to be risky, but lingering concerns about
demand are expected to cap gains.
In the aluminium market, traders were watching significant
long positions, holding 30 to 40 percent of warrants on London
Metal Exchange stocks and cash contracts. [ID:nLDE67H16C]

Benchmark copper CMCU3 on the LME was trading at $7,485 a
tonne at 1023 GMT from $7,390 a tonne at the close on Wednesday.
The metal used in power and construction earlier touched $7,487
a tonne, its highest since Aug. 9.

Aug 18, 2010

Barclays declines comment on LME aluminium position

LONDON, Aug 18 (Reuters) – Barclays Capital declined on
Wednesday to comment on market talk that it has a position
controlling 30 to 40 percent of aluminium stock warrants in
London Metal Exchange (LME) warehouses and cash contracts.

According to latest LME data there are two such long
positions, each controlling between 30 and 40 percent of
aluminium stock warrants and cash contracts. <LME/WC><LME/WHD>

Aug 9, 2010

Healthy demand expectations boosts copper

LONDON, Aug 9 (Reuters) – Copper prices marched up on Monday
boosted by expectations of healthy demand from top consumer
China, a weaker dollar and sliding inventories.

Benchmark copper CMCU3 on the London Metal Exchange was
trading at $7,454 a tonne at 1415 GMT from $7,370 at the close
on Friday. The metal used extensively in power and copper
earlier hit a high of $7,489 a tonne.

Jun 25, 2010

Gold buoyed by financial uncertainty

LONDON, June 25 (Reuters) – Gold rose nearly 1 percent on
Friday as investors sought refuge from financial market
uncertainty and currency depreciation as they awaited the
outcome of a weekend G20 meeting.

Data released earlier showing the U.S. economy expanded at a
2.7 percent annual rate in the first quarter, down from the 3
percent pace initially reported last month, increased its
safe-haven appeal. [ID:nN24163944]

Jun 10, 2010

Africa not much more risky vs Europe, U.S. crises

LONDON (Reuters) – Investors interested in Africa’s resources but afraid of its political risks should consider that recent events in Europe and the United States have shown they are far from risk-free, a British fund manager said.

David Murrin, chief investment officer at UK-based Emergent Asset Management, acknowledged Africa could be hazardous for investors but cited by comparison Greece’s debt troubles and the banking crisis in Europe and the United States.

May 27, 2010

Copper down, but not out for the count

LONDON (Reuters) – Damage to copper demand from Europe’s debt crisis is likely to hurt prices of the metal, but that could be a buying opportunity because the market is tight and consumption in top consumer China is still strong.

But some think a weak U.S. housing market and a prolonged period of turmoil in Europe could wreck longer-term prospects for the metal used widely in power and construction.

May 13, 2010

Gold steadies, poised for new record highs

LONDON (Reuters) – Gold steadied on Thursday, but analysts expect the precious metal to extend gains to new records over coming days as further waves of investor money come flooding into the market looking for safety.

Spot gold was bid at $1,234.10 a troy ounce at 1019 GMT from $1,236.35 an ounce late in New York on Wednesday, when it hit a record $1,248.15 on fears that a $1 trillion European rescue package will not solve the euro zone debt crisis.

May 12, 2010

Gold flies to record, investors seek safety

LONDON (Reuters) – Gold surged to a record high on Wednesday as investors piled in, seeking safety from turmoil in government bond markets and the risks of Greece’s debt crisis spreading to other countries.

Spot gold hit $1,243.55 an ounce, a gain of nearly 20 percent since early February. It was bid at $1,240.75 an ounce at 1006 GMT from $1,232.05 late in New York on Tuesday. U.S. gold futures hit a record $1,244.80 an ounce.

Mar 31, 2010

Gold rallies, eyes on currency, sovereign debt

LONDON (Reuters) – Gold hit its highest in more than a week on Wednesday as the dollar slipped against major currencies and longer-term fears over sovereign debt put a floor under prices.

Platinum jumped to $1,646.50 an ounce, its highest since January 20 on worries about supplies from South Africa, the world’s largest producer of the metal used to make autocatalysts that clean car emissions.