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.
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.
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.
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
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.
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
Benchmark copper on the London Metal Exchange closed
down at $6,380 a tonne from $6,415 at Friday’s close.
LONDON (Reuters) – A slump in China’s property sector that has hit steel consumption may be a warning signal for industrial metal copper, which reacts with a time lag to the construction cycle.
The extent of the impact is not yet clear, but for some, falling steel demand is raising concerns about Chinese copper demand growth this year.
LONDON, May 11 (Reuters) – Copper slipped on Monday as
doubts emerged about whether rate cuts in China would be enough
to stimulate economic activity in the world’s largest consumer
of industrial metals.
Benchmark copper traded at $6,363 a tonne in
official rings, down from Friday’s last bid of $6,385. The metal
used in the power and construction industries is up about 20
percent since late January.
LONDON, May 7 (Reuters) – Copper was supported on Thursday
by expectations of further stimulus to boost economic growth in
top consumer China, but gains were capped by equity market
losses around the world.
Three-month copper was trading at $6,429 a tonne at
1011 GMMT from $6,390 at Wednesday’s close. Earlier this week
the metal used in the construction and power industries hit
$6,481 a tonne, the highest since December 15.
LONDON, May 6 (Reuters) – Expectations of collapsing
tungsten prices after China abolished export taxes are likely to
be dashed as the country’s officials have found another way to
limit shipments, Russell Clark, managing director at mining firm
Wolf Minerals, told Reuters.
A World Trade Organization ruling last year said China’s
export duties imposed on rare earths, tungsten and molybdenum,
were incompatible with the country’s WTO obligations. China has
abolished those levies effective May 1.