Commodities Correspondent
Pratima's Feed
Jul 6, 2015

Oil, copper buckle under China demand angst, Greek ‘No’

LONDON, July 6 (Reuters) – Commodity prices tumbled on
Monday after Greece voted against conditions for a bailout
package and top consumer China unleashed emergency measures
aimed at halting the sharp slide in its stock market.

The common denominator was the firmer dollar, which when it
rises makes commodities across the board more expensive for
holders of other currencies.

Jul 3, 2015

Lower dollar, possibility of output cuts support copper

LONDON, July 3 (Reuters) – Copper held firm on Friday,
helped by a lower dollar and expectations that further price
falls could cause production cuts, but a seasonal demand lull is
likely to check gains.

Benchmark copper on the London Metal Exchange traded
at $5,801 a tonne at 0926 GMT from $5,795 at Thursday’s close.

Jul 2, 2015

Copper buoyed by improved growth prospects for China, weaker dollar

LONDON, July 2 (Reuters) – Copper prices rose on Thursday,
buoyed by signs of healthier growth prospects for the metal’s
top consumer China and a sliding dollar after weak U.S. monthly
jobs data.

Three-month copper on the London Metal Exchange
ended up at $5,795 a tonne from $5,775 at the close on
Wednesday.

Jul 1, 2015

LME proposes rent caps to tackle long warehouse queues

LONDON, July 1 (Reuters) – The London Metal Exchange is to
address the problem of existing and potential queues at
warehouses with proposals that include rent caps from May 1,
2016, the LME said on Wednesday.

The LME, the world’s oldest and biggest market for
industrial metals which is now owned by Hong Kong Exchanges and
Clearing Ltd, oversees warehouses where companies that
buy metals on its futures market can take delivery of
quality-assured supplies if needed.

Jun 29, 2015

Tin price bulls coming out of hibernation

LONDON (Reuters) – Shrinking tin stocks, dwindling supplies from Myanmar and new Indonesian rules to curb exports are at last creating conditions for bulls who for some time have expected to see higher prices.

But the optimism is tinged with caution as much depends on whether top exporter Indonesia can limit its shipments abroad, something it has failed to do in recent months.

Jun 20, 2015

Falling copper stocks just a shuffling exercise

LONDON (Reuters) – Expectations that falling stocks of copper in exchange-registered warehouses signpost stronger consumption and higher prices are likely to be disappointed, as metal leaving warehouses does not translate into usage.

Material exiting warehouses registered with the London Metal Exchange or the Shanghai Futures Exchange does often augur a potentially tighter market.

Jun 15, 2015

LME’s new aluminum premium contracts: too late?

LONDON (Reuters) – Tumbling aluminum premiums on global physical markets mean new contracts aimed at mitigating the impact of higher costs, due to be launched by the London Metal Exchange (LME) in November, may be too late to serve their purpose.

The LME conceived the idea of a premium contract when the premiums were high and rising, queues for aluminum at LME warehouses were long and metal was tied up in financing deals.

Jun 9, 2015

LME faces formidable opposition to warehouses in China

HONG KONG/LONDON, June 9 (Reuters) – The London Metal
Exchange’s ambition to approve warehouses in China, particularly
in Shanghai, is running into powerful local resistance.

The main challenger is the Shanghai Futures Exchange (SHFE),
which metal industry sources say is worried about loss of
volumes, as LME-registered warehouses in China would encourage
locals to use the London exchange instead for trading. SHFE did
not comment.

Jun 8, 2015

New EU rules may hasten commodity liquidity flight

LONDON (Reuters) – Planned EU regulations on position limits in commodities are fuelling intense debate about whether the move could prompt traders to flee to Asian markets, further hurting European liquidity and potentially hurting economic growth.

Restrictions on banks and capital requirements has already subdued enthusiasm for commodity trading.

May 18, 2015

Copper dips on dollar strength, demand expectations curb losses

LONDON, May 18 (Reuters) – Copper slipped as the dollar rose
on Monday, though losses were limited by signs of potentially
stronger demand and expectations of further policy easing by top
consumer China.

Benchmark copper on the London Metal Exchange closed
down at $6,380 a tonne from $6,415 at Friday’s close.