Commodities Correspondent
Pratima's Feed
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>

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.