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Base metals prices falter in LME officials as headline trading returns

February 09, 2012 - 13:39 GMT Location: London

KEYWORDS: base metals prices , copper prices , tin prices , aluminium prices , LME , officials

Base metals prices showed signs of weakening again during official trading on the London Metal Exchange on Thursday February 9, as the market settles back into a pattern of headline trading.

Copper prices settled at $8,545.5/46 per tonne, basis three months, after settling at $8,606/07 the day before. “Copper is little changed today on a mixed news flow – tight supplies, no resolution on a Greek bailout terms, and rising Chinese inflation limiting space for a potential easing,” an analyst said in a note. There could be some support for the red metal in the coming weeks, however, as demand looks likely to strengthen in China. “China’s...

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May 24, 2012 17:07 CLOSE TO CLOSE: Base metals follow euro higher in LME kerb
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Nickel & Tin

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Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.