Commodities Correspondent
Pratima's Feed
Mar 9, 2010

Palladium an attractive investment: -Norilsk

LONDON (Reuters) – Palladium is an appealing investment because future jewelry and industrial demand will be strong, Norilsk Nickel <GMKN.MM>, the world’s largest palladium producer, told the Reuters Global Mining and Steel Summit.

“For many people it is an attractive investment opportunity because of very healthy demand,” Norilsk Marketing Director Anton Berlin said in response to a question on whether volumes flowing into exchange traded commodity funds would be maintained

Feb 16, 2010

Base metals rally to multi-week highs as dlr sinks

NEW YORK/LONDON, Feb 16 (Reuters) – Copper led a rally across the broader
base metals complex on Tuesday, hitting its highest level in more than two
weeks, as the dollar stumbled and markets recovered from last week’s sell-off.

“I think we are still seeing some residual demand from last week,” said
Catherine Virga, senior base metals analyst with CPM Group in New York.

Feb 12, 2010

Copper sinks on dollar, China tightening fears

NEW YORK/LONDON, Feb 12 (Reuters) – Copper prices fell Friday
under the weight of a stronger dollar, mixed economic data in the
United States and further monetary tightening moves in China,
which triggered renewed worries about near-term demand prospects
in the world’s top metals consumer.

Benchmark copper for March delivery <HGH0> on the New York
Mercantile Exchange’s COMEX division shed 5.10 cents, or 1.6
percent, to finish at $3.0825 per lb, after dealing in a session
range between $3.0340 and $3.14.

Feb 5, 2010

Copper hits 3-month low, recovery doubts dominate

NEW YORK/LONDON, Feb 5 (Reuters) – Copper fell to its lowest
level in more than three months on Friday, as a stronger dollar and
worries over the health of the global economy outweighed mixed U.S.
jobs data.

Benchmark copper for March delivery <HGH0> on the New York
Mercantile Exchange’s COMEX division slipped 2.15 cents to settle at
$2.8575 per lb, after dealing between $2.8905 and $2.8110, which
marked is lowest level since Oct. 15.

Feb 5, 2010

Hunt for London Metal Exchange chairman underway

LONDON, Feb 5 (Reuters) – London Metal Exchange Chairman
Donald Brydon is leaving and the hunt is on for a successor
capable of guiding the exchange through a turbulent global
economy and changing political landscape.

Managing changes in regulation, which may not be as friendly
as in the past, will also be part of the brief.

Feb 2, 2010

Race for title of top commodity 2010 wide open

LONDON (Reuters) – A clear consensus about which commodity will top the performance charts this year is proving hard to call because of doubts about global economic prospects.

But fund managers have a list of commodities, such as platinum, they favor if demand accelerates as many expect.

Jan 27, 2010

The end of the gold love affair? Not for long

LONDON (Reuters) – Investors’ love affair with gold may appear to have cooled, but that would be a misleading conclusion to draw from the fall in physical holdings of the precious metal.

Gold’s popularity will return because investors fear inflation and sovereign downgrades, even if the U.S. currency continues its ascent and makes the precious metal more expensive for holders of other currencies.

Jan 15, 2010

Mounting supply base drags copper to lower close

NEW YORK/LONDON, Jan 15 (Reuters) – Copper prices trickled
to a weaker finish on Friday, under pressure from a firmer
dollar and incessant inventory builds in exchange-monitored
warehouses that fanned concerns about near-term demand
prospects.

Benchmark copper for March delivery <HGH0> on the New York
Mercantile Exchange’s COMEX division shed 2.15 cents to close
at $3.3660 per lb, near the bottom of its $3.3480 to $3.4260
session range.

Jan 14, 2010

Swollen stocks to shackle nickel prices

LONDON (Reuters) – An abundance of nickel could see already swollen stocks surge to new record highs over coming weeks and hit prices of the metal used to make stainless steel.

But losses are expected to be capped by expectations of stronger demand later this year and financing deals — that have tied up nickel inventories — to release cash for producers.

Dec 17, 2009

Copper ends lower on dollar rally, outlook healthy

NEW YORK/LONDON, Dec 17 (Reuters) – Copper prices lost more
than 2 percent of their value by the close on Thursday as a
rallying dollar pressured values, but analysts said a healthier
global demand outlook was expected to fortify sentiment and
prices.

Copper for March delivery <HGH0> on the New York Mercantile
Exchange’s COMEX division dropped 7.75 cents, or 2.4 percent, to
settle at $3.1280 a lb, after dealing between $3.1180 and
$3.2045.