Commodities Correspondent
Pratima's Feed
Sep 16, 2010

Gold rushes to record; investors seek insurance

LONDON, Sept 16 (Reuters) – Gold swept to a record high
above $1,275 per ounce on Thursday, as currency market jitters
and broader economic uncertainty attracted more investors to the
metal’s safe-haven credentials.

Strong investment demand pushed spot silver XAG=, often
seen as a cheap proxy for gold, to $20.75 an ounce — its
highest level since March 2008.

Sep 16, 2010

Gold eyes record high on dollar, economy concerns

LONDON (Reuters) – Gold came within touching distance of a record high on Thursday as the softer dollar and uncertainty about economic and financial stability persuaded investors to seek a safe place to park their assets.

Strong investment demand also pushed spot silver to $20.65 an ounce, its highest since March 2008, traders said.

Sep 15, 2010

Pensions could use clout with miners in people issues

LONDON (Reuters) – Pension funds should use the clout they have to persuade miners to consider environmental concerns and local people, as that could help boost investment returns from the sector, F&C Asset Management said on Wednesday.

The spotlight in recent weeks has fallen on safety as the world watches the plight of 33 Chilean miners trapped underground for some weeks now.

Aug 27, 2010

Copper hits loftiest close in 3-wks as stocks rally

NEW YORK/LONDON, Aug 27 (Reuters) – U.S. copper on Friday rose to its
highest close since Aug. 4, supported by a rally on Wall Street after a speech
by the Federal Reserve chief boosted optimism among investors.

Benchmark copper CMCU3 on the London Metal Exchange hit
$7,472.25 a tonne, its highest since Aug. 19. The metal used in power and
construction ended at $7,459 a tonne from $7,304.50 on Thursday.

Aug 27, 2010

Chile’s Molymet plans to sell rhenium on spot market

LONDON, Aug 27 (Reuters) – Chile’s Molymet is planning to
sell some of its rhenium output on the spot market to make spot
prices more representative, a source at the world’s largest
producer of the aerospace material said.

This would be a major change in the market where most of the
rhenium produced is sold on long-term contracts.

Aug 20, 2010

Slowdown to shackle industrial commodities in second half

LONDON (Reuters) – Industrial commodities face an uphill struggle over coming months as economic growth slows, but the price collapse seen in the last quarter of 2008 is unlikely.

Recent data from the United States has raised doubts about the strength of recovery in the world’s largest economy. Meanwhile China is tightening policy to rein in price pressures.

Aug 19, 2010

Slowdown to shackle industrial commodities in H2

LONDON (Reuters) – Industrial commodities face an uphill struggle over coming months as economic growth slows, but the price collapse seen in the last quarter of 2008 is unlikely.

Recent data from the United States has raised doubts about the strength of recovery in the world’s largest economy. Meanwhile China is tightening policy to rein in price pressures.

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>