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SHFE copper rises after Greek bailout deal

February 21, 2012 - 07:15 GMT Location: Shanghai

KEYWORDS: SHFE , Shanghai , copper , aluminium , zinc , lead , price

Shanghai Futures Exchange copper prices rose after eurozone leaders sealed a second bailout deal to again avoid default.

The exchange’s May copper contract settled at 59,760 yuan ($9,500) per tonne on Monday, up 80 yuan (0.1%) from yesterday. It closed 1.2% higher at 60,050 yuan per tonne. “Copper was on the back foot this morning, but the agreement from Greece has buoyed the market and lifted most commodities to positive territory,” an analyst from...

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Aluminium

May 24, 2012 17:07 CLOSE TO CLOSE: Base metals follow euro higher in LME kerb
May 24, 2012 14:40 Trafigura, Ormet will explore joint investments in aluminium
May 24, 2012 13:48 Base metal prices stable in LME officials as euro plateaus
May 24, 2012 12:20 Constellium signs multi-year, $2bn supply agreement
May 24, 2012 11:25 Shanghai copper price little changed; arbitrage gap narrows

Lead & Zinc

May 24, 2012 17:28 Pan American Silver’s revenues up 20% in Q1
May 24, 2012 17:07 CLOSE TO CLOSE: Base metals follow euro higher in LME kerb
May 24, 2012 13:48 Base metal prices stable in LME officials as euro plateaus
May 24, 2012 12:08 Brazilian zinc consumption will grow 6% in 2013
May 24, 2012 11:25 Shanghai copper price little changed; arbitrage gap narrows

Copper

May 24, 2012 17:28 Pan American Silver’s revenues up 20% in Q1
May 24, 2012 17:07 CLOSE TO CLOSE: Base metals follow euro higher in LME kerb
May 24, 2012 15:26 Copper products sales in Brazil hit record $8.6bn
May 24, 2012 13:59 Copper concentrator failure halts production at Botswana’s Mowana mine
May 24, 2012 13:48 Base metal prices stable in LME officials as euro plateaus

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.