Commodities Correspondent
Pratima's Feed
Sep 14, 2011

Government says critical material stockpiles undesirable

LONDON (Reuters) – The government said the stockpiling of strategic and rare earth metals is undesirable and incompatible with its free-market approach to economic policy.

In a letter to the Science and Technology Committee published on Wednesday, the government said: “The (European Union) Commission needs to remain vigilant to avoid protectionist responses, such as state or EU-led stockpiling, to the unilateral export controls of some exporter countries.”

Sep 14, 2011

Western troubles may knock China, drive copper down

LONDON, Sept 14 (Reuters) – Economic troubles in Europe and
the United States are likely to shrink China’s exports, harm its
economy, reduce its demand for copper and possibly trigger a
price drop in the industrial metal over the coming weeks.

Jitters about debt default in Greece and worries about the
health of the world’s largest economy, the United States, have
in recent weeks combined to send many markets including equities
hurtling lower.

Sep 13, 2011

Funds see Europe recession in next year – BofA Merrill

LONDON (Reuters) – Europe’s sovereign debt and banking crisis is expected to push the region into recession over the next 12 months, and most investors do not expect higher U.S. interest rates until 2013, a survey showed on Tuesday.

The monthly survey taken by Bank of America Merrill Lynch from September 1 to 8 showed 55 percent of European fund managers see Europe suffering two quarters of negative gross domestic product growth.

Aug 16, 2011

Analysis: Weak stainless demand to sap nickel strength

LONDON (Reuters) – Deteriorating demand from stainless steel mills and rising mine production are likely to push the nickel market into surplus in the second half of the year and put modest pressure on prices.

The uncertain outlook for global economic growth and demand because of the debt crisis in the euro zone and the United States mean gloomier prospects for nickel demand.

Aug 12, 2011

Copper falls on U.S. data, demand concerns

LONDON, Aug 12 (Reuters) – Copper fell on
Friday , following US economic data that
showed U.S. consumer sentiment dropped to its lowest in three decades,
compounding concerns about global economic growth and demand
from top consumer China.

Benchmark copper on the London Metal Exchange fell
0.2 percent to $8, 863 a tonne at
14 57 GMT, from $8,881 at the close on Thursday.

Aug 11, 2011

Copper rises on U.S. jobs data, stock market recovery

LONDON, Aug 11 (Reuters) – Copper bounced back on Thursday as upbeat labour
market data from the United States helped ease some fears about the economy,
while an appreciation of China’s currency also boosted the metal as it suggested
the country was confident about growth prospects.

Benchmark copper on the London Metal Exchange ended at $8,881 a
tonne, after hitting its lowest close since December at $8,595 on Wednesday.

Aug 4, 2011

Mine strikes to feed copper deficit, buoy prices

LONDON (Reuters) – An unusually high level of strikes and weather-related stoppages at copper mines mean supplies of the key industrial metal this year are likely to stagnate, which could contribute to a deficit and sustain prices even if economic slowdown hits demand.

At the start of each year analysts make an allowance for the amount of copper expected to be lost to disruptions such as the strike action in recent weeks in Chile, the world’s largest copper producer.

Jul 28, 2011

Special report: Goldman’s new money machine: warehouses

LONDON/DETROIT (Reuters) – In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.

The derelict neighborhood off Michigan Avenue is a sharp contrast to Goldman’s bustling skyscraper headquarters near Wall Street, but the two operations share one important element: management by the bank’s savvy financial professionals.

Jul 28, 2011

Goldman’s new money machine: warehouses

LONDON/DETROIT, July 28 (Reuters) – In a rundown patch of
Detroit, enclosed by a cyclone fence and barbed wire, stands an
unremarkable warehouse that investment bank Goldman Sachs
has transformed into a money-making machine.

The derelict neighbourhood off Michigan Avenue is a sharp
contrast to Goldman’s bustling skyscraper headquarters near Wall
Street, but the two operations share one important element:
management by the bank’s savvy financial professionals.

Jul 18, 2011

Copper firms; EU debt crisis, U.S. limit gains

LONDON, July 18 (Reuters) – Copper edged higher on Monday, taking heart from
recent Chinese import data and supply problems in Chile and elsewhere, but gains
were limited by a wave of risk aversion that swept through the markets due to
the euro zone debt crisis and the threat of a U.S. default.

Benchmark copper on the London Metal Exchange closed at $9,694 a
tonne, up slightly from $9,672 at the close on Friday.