Commodities Correspondent
Pratima's Feed
Feb 15, 2011

Spot ferrochrome in Europe hits highest since Nov 2008

LONDON, Feb 15 (Reuters) – Benchmark ferrochrome prices on
the European spot market have jumped to their highest in more
than two years on strong demand for the material valued for its
anti-corrosive properties.

High carbon ferrochrome FECRO-HC-RU is trading at around
$1.35 a lb this month from last month’s $1.20 a lb.

Feb 4, 2011

Buy or sell – Mileage for investors in tin?

LONDON (Reuters) – Tin prices have hit record highs on worries about short supplies from the top world exporter Indonesia, where rain has hampered production.

Prices of the metal — used for soldering and in electronic equipment — on the London Metal Exchange hit an all-time high of $30,920 a tonne on Thursday, a gain of about 15 percent so far this year after a surge of 58 percent last year.

Feb 2, 2011

Copper surges close to $10,000 as investors pile in

LONDON (Reuters) – Copper surged to record highs on Wednesday to within a whisker of the key $10,000 level as investors scrambled to buy on worries of supply shortages and market deficits.

A key gauge of economic growth, copper has gained more than 60 percent since last June when markets tumbled, fearing sovereign default in euro zone countries such as Greece.

Jan 5, 2011

Copper could breach $12,000 by end-June

LONDON (Reuters) – Industrial metal copper could climb above $12,000 a tonne by the end of June as the market factors in a supply shortage, Peter Fertig, a consultant at Quantitative Commodity Research told Reuters.

Fertig forecast $7,525 a tonne for the average cash copper price for last year on the London Metal Exchange. Cash prices of the metal used in power and construction averaged $7,543 a tonne last year.

Dec 14, 2010

JPMorgan denies it holds 90 pct of LME copper stocks

LONDON (Reuters) – U.S. investment bank JPMorgan said it does not hold more than 90 percent of copper stock warrants in London Metal Exchange warehouses, but declined on Tuesday to comment on whether it had a smaller position.

A single holder, recently controlling 50-80 percent of copper stocks and cash contracts in London Metal Exchange warehouses, appears to have raised the position to above 90 percent, latest data from the world’s biggest metals market showed.

Dec 14, 2010

What will metal ETPs mean for investors?

LONDON (Reuters) – The launch of physically backed copper, tin and nickel exchange traded products on Friday has triggered a hot debate about the advantages and disadvantages for investors, consumers and producers.

The listings in London by UK-based ETF Securities are aimed mainly at institutional investors such as pension funds and insurance companies looking for exposure to hard assets such as copper, used in power and construction.

Dec 10, 2010

Q+A-What will metal ETPs mean for investors, consumers?

LONDON, Dec 10 (Reuters) – The launch of physically backed
copper, tin and nickel exchange traded products on Friday has
triggered a hot debate about the advantages and disadvantages
for investors, consumers and producers.

For a story on the ETPs launch: [ID:nLDE6B90D6]

The listings in London by UK-based ETF Securities are aimed
mainly at institutional investors such as pension funds and
insurance companies looking for exposure to hard assets such as
copper, used in power and construction. [ID:nLDE6B61QR]

Dec 9, 2010

Copper ETPs will skew supply, demand -Luvata poll

LONDON, Dec 9 (Reuters) – Physically backed copper exchange
traded products (ETPs) will distort market fundamentals and
prices, a survey carried out by international copper products
maker Luvata showed.

The poll carried out on Luvata’s website over the last few
weeks showed a majority, 52 percent of more than 250 customers,
prospective customers and industrial organisations said copper
ETPs “will skew supply and demand and increase volatility”.

Dec 6, 2010

Large LME metal holdings not unusual for big firms

LONDON, Dec 6 (Reuters) – Large holdings of London Metal
Exchange stocks can occur unintentionally and are not unusual
for large companies with many divisions and clients that delve
into metals markets.

The total of these positions, as reported by British
newspaper, The Daily Telegraph, is why U.S. bank JPMorgan
(JPM.N: Quote, Profile, Research) could be holding a dominant position of between 50 and
80 percent of copper stock warrants. <LME/WHD> [ID:nL3E6N601B]

Dec 2, 2010

LME sees dangers in E.U. financial regulation

LONDON (Reuters) – The London Metal Exchange (LME) warned on Thursday that the drive towards greater European financial regulation lacks sufficient UK representation and could become too political.

LME Chief Executive Martin Abbott also told the UK Parliament’s Treasury Committee in London that short-selling is essential to the functioning of commodities markets.