Commodities Correspondent
Pratima's Feed
Jul 18, 2011

based AnyJunk offers employees bonus for scrap

LONDON (Reuters) – UK-based junk removal firm AnyJunk pays its collection teams a bonus for the metal they can separate for sale to scrap merchants to help cut its disposal costs and boost profits.

Chief Executive Jason Mohr told Reuters that part of AnyJunk’s ethos was to encourage recycling wherever possible, with about 79 percent of all materials it collects avoiding landfill through reuse or recycling.

Jul 18, 2011

Copper steady; China demand, euro zone crisis weigh

LONDON, July 18 (Reuters) – Copper was steady on Monday, but
expected to come under pressure due to doubts about demand from
top consumer China and the euro zone debt crisis.

Benchmark copper on the London Metal Exchange was
trading at $9,674 a tonne at 1015 GMT from $9,672 at the close
on Friday.

Jul 15, 2011

Gold undermined by Bernanke, firm dollar

LONDON, July 15 (Reuters) – Gold slipped on Friday
undermined by growing perceptions that further stimulus measures
from the United States were unlikely and by a higher dollar
against the euro, which was under pressure from concern about
the results of European bank stress tests.

Spot gold was bid at $1,579.30 a troy ounce at 1021
GMT from $1,586.75 an ounce late in New York on Thursday when
the precious metal hit a record high of $1,594.16.

Jul 1, 2011

Corn plummets to 3-1/2-mth low

July 1 (Reuters) – Corn prices plummeted to 3-1/2 month
lows on Friday on a report from the U.S. government which said
stocks and sowing areas were both larger than market
expectations.

Industrial commodities copper and crude oil came under
pressure after surveys showed June factory activity in China
grew at its slowest pace in 28 months, while gold’s appeal was
diminished by Greece’s approval of a key austerity package.

Jun 29, 2011

OFT to look again at metals warehouses

LONDON (Reuters) – The anti-competition watchdog said on Wednesday it will take another look at activity by large traders on the London Metal Exchange that also own warehouses, after lawmakers again raised concerns.

A parliamentary committee on Wednesday said it had alerted the Office of Fair Trading (OFT) to more concerns that the same firms that trade metals are able to hold large amounts of metal stored in warehouses monitored by the LME, the world’s top metals exchange.

Jun 29, 2011

UK watchdog to look again at metals warehouses

LONDON, June 29 (Reuters) – The UK anti-competition watchdog
said on Wednesday it will take another look at activity by large
traders on the London Metal Exchange that also own warehouses,
after lawmakers again raised concerns.

A parliamentary committee on Wednesday said it had alerted
the Office of Fair Trading (OFT) to more concerns that the same
firms that trade metals are able to hold large amounts of metal
stored in warehouses monitored by the LME, the world’s top
metals exchange.

Jun 22, 2011

BlackRock says commodity firms likely to hike dividends

LONDON (Reuters) – Commodity-linked companies could potentially pay higher dividends over coming years as earnings rise and balance sheets get stronger, Richard Davis, a fund manager at U.S.-based BlackRock, said.

“Commodity prices are at attractive levels, cash flows are at record levels and earnings are at record levels,” Davis said at a briefing.

Jun 22, 2011

Commodity firms likely to hike dividends: BlackRock

LONDON (Reuters) – Commodity-linked companies could potentially pay higher dividends over coming years as earnings rise and balance sheets get stronger, Richard Davis, a fund manager at U.S.-based BlackRock (BLK.N: Quote, Profile, Research, Stock Buzz), said.

“Commodity prices are at attractive levels, cash flows are at record levels and earnings are at record levels,” Davis said at a briefing.

Jun 21, 2011

Investors spooked by Greece choose gold

LONDON (Reuters) – Gold prices rose on Tuesday as investors spooked by talk of a Greek debt default and contagion to other euro zone countries sought safety while a softer dollar also helped.

Spot gold was bid at $1,543.04 a troy ounce at 1000 GMT (6 a.m. ET) compared with $1,539.95 late in New York on Monday when it touched $1,545.90, its highest since June 9.

Jun 15, 2011

Sovereign debt concerns help buoy gold prices

LONDON (Reuters) – Gold slipped on Wednesday as a stronger dollar prompted a flurry of sales, but investor buying sparked by sovereign debt concerns and inflationary pressures.

Spot gold was bid at $1,518.29 a troy ounce at 0905 GMT (5:05 a.m. ET) from $1,523.25 an ounce late in New York on Tuesday. The precious metal hit a three-week low of $1,511.11 on Monday.