Commodities Correspondent
Pratima's Feed
Nov 23, 2010

Commodities sag as Korea shelling fuels dollar

LONDON, Nov 23 (Reuters) – Commodity markets buckled on
Tuesday as worries over an exchange of artillery fire between
North and South Korea and concern that Ireland’s debt problems
could spread in the euro zone sent the dollar higher.

Crude oil and copper slipped after North Korea fired
artillery shells at a South Korean island, hitting a military
base and drawing return fire, prompting a flight to safe assets
such as gold and U.S. Treasury bonds. [ID:nL3E6MN09Z]

Nov 16, 2010

Fund view – Hermes says copper poised for new record highs

LONDON (Reuters) – Copper prices are set to hit new records over coming years as supply shortages meet strong demand from developing market consumers and investors seeking safety in hard assets, Hermes Fund Managers said on Tuesday.

Benchmark copper prices on the London Metal Exchange hit a record high of $8,966 on November 11, a gain of more than 45 percent since early June when markets were fretting about Greece and sovereign default in euro zone countries.

Nov 15, 2010

Copper surrenders to stronger dollar, China worry

LONDON, Nov 15 (Reuters) – Copper prices tumbled to their
lowest in more than a week on Monday, undermined by a firmer
dollar and growing expectations of monetary tightening in top
consumer China.

Steel ingredients were weak with zinc CMZN3 falling to
$2,264.75 a tonne, its lowest since October 8 and nickel sliding
to $21,980 a tonne, its lowest since September 8.

Nov 9, 2010

Gold hits record on Euro zone debt fears

LONDON (Reuters) – Gold surged to a record high for the fourth day running on Tuesday, fuelled by renewed concern over high sovereign debt in euro zone countries such as Ireland and Greece and inflationary pressures.

Spot gold hit $1,422.30 a troy ounce. The precious metal was bid at $1,418.40 an ounce at 11:24 a.m. British time from $1,409.09 late in New York on Monday.

Nov 8, 2010

Copper ends flat; strong fundamentals limit losses

NEW YORK/LONDON, Nov 8 (Reuters) – Copper steadied below
two-year highs by Monday’s close, bucking the negative impact
of a stronger dollar, as investors bought the industrial metal
as an inflation hedge and amid concerns over supply tightness.

Benchmark copper CMCU3 on the London Metal Exchange ended
at $8,660 a tonne, unchanged from the close on Friday when the
price rallied to $8,769.50, its highest since July 2008.

Nov 8, 2010

Watchdog gets complaint on base metal ETPs

LONDON (Reuters) – Britain’s financial services regulator said it has received a complaint over plans for base metal exchange traded products (ETPs), reflecting fears they could tip a finely balanced copper market into deficit and distort prices.

The complaint had not come from official quarters of the London Metal Exchange, an exchange spokesman told Reuters on Monday, adding that the exchange had no plans to block ETPs.

Nov 4, 2010

Fed, dollar give copper bulls the upper hand

LONDON, Nov 4 (Reuters) – Copper surged to its highest in
more than two years on Thursday after the U.S. Federal Reserve
took steps to boost growth and demand in the United States, the
world’s largest economy.

Benchmark copper CMCU3 on the London Metal Exchange traded
at $8,539.5 a tonne in official rings from $8,320 at the close
on Wednesday. The metal used in power and construction hit
$8,580 a tonne, its highest since July 2008, when it touched a
record $8,940 a tonne.

Nov 4, 2010

Fed gives copper bulls the upper hand

LONDON, Nov 4 (Reuters) – Copper climbed on Thursday after
the U.S. Federal Reserve took steps to boost growth and demand
in the world’s largest economy and the market tried to factor in
higher energy costs in top consumer China.

Benchmark copper CMCU3 on the London Metal Exchange was
trading at $8,489 a tonne at around 1050 GMT from $8,320 at the
close on Wednesday. The metal used in power and construction
last month hit $8,554, its highest since July 2008.

Oct 7, 2010

Supply crunch to propel tin to dizzy heights

LONDON (Reuters) – Tin’s rise in recent days to dizzying heights has been fast and furious and while a correction is thought to be inevitable, scarce supplies mean $30,000 a tonne is likely before too long.

Benchmark tin on the London Metal Exchange has surged by more than 50 percent so far this year to $26,790 a tonne — a record high for the metal used for soldering in the electronic industry.

Oct 5, 2010

Grains and livestock seen as neat play on China growth

LONDON, Oct 5 (Reuters) – Investors looking to gain from
China’s phenomenal growth should look further at grains and
livestock as food demand in the country will outstrip the
country’s ability to produce it, a conference heard on Tuesday.

Demand for agricultural commodities has raced ahead in China
partly due to changing diets, with rising incomes leading to
more consumption of meat.