LONDON, Dec 6 (Reuters) – Large holdings of London Metal
Exchange stocks can occur unintentionally and are not unusual
for large companies with many divisions and clients that delve
into metals markets.
The total of these positions, as reported by British
newspaper, The Daily Telegraph, is why U.S. bank JPMorgan
(JPM.N: Quote, Profile, Research) could be holding a dominant position of between 50 and
80 percent of copper stock warrants. <LME/WHD> [ID:nL3E6N601B]
LONDON (Reuters) – The London Metal Exchange (LME) warned on Thursday that the drive towards greater European financial regulation lacks sufficient UK representation and could become too political.
LME Chief Executive Martin Abbott also told the UK Parliament’s Treasury Committee in London that short-selling is essential to the functioning of commodities markets.
LONDON, Nov 23 (Reuters) – Commodity markets buckled on
Tuesday as worries over an exchange of artillery fire between
North and South Korea and concern that Ireland’s debt problems
could spread in the euro zone sent the dollar higher.
Crude oil and copper slipped after North Korea fired
artillery shells at a South Korean island, hitting a military
base and drawing return fire, prompting a flight to safe assets
such as gold and U.S. Treasury bonds. [ID:nL3E6MN09Z]
LONDON (Reuters) – Copper prices are set to hit new records over coming years as supply shortages meet strong demand from developing market consumers and investors seeking safety in hard assets, Hermes Fund Managers said on Tuesday.
Benchmark copper prices on the London Metal Exchange hit a record high of $8,966 on November 11, a gain of more than 45 percent since early June when markets were fretting about Greece and sovereign default in euro zone countries.
LONDON, Nov 15 (Reuters) – Copper prices tumbled to their
lowest in more than a week on Monday, undermined by a firmer
dollar and growing expectations of monetary tightening in top
Steel ingredients were weak with zinc CMZN3 falling to
$2,264.75 a tonne, its lowest since October 8 and nickel sliding
to $21,980 a tonne, its lowest since September 8.
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.
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.
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.
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.
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.