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CLOSE TO CLOSE: Base metals prices advance at LME kerb

February 21, 2012 - 17:56 GMT Location: London

KEYWORDS: copper prices , aluminium prices , nickel prices , LME , Metal Bulletin

Base metals prices enjoyed a late flurry in Tuesday’s kerb trading on the London Metal Exchange.

Three-month copper finished the kerb at $8,449 per tonne compared with an official price of $8,328/329 per tonne and an official close of $8,235.5 per tonne on Monday February 20. The red metal traded as high as $8,460 per tonne and as low as $8,251 per tonne. Copper stocks in LME-approved warehouses fell by 450 tonnes to 305,425 tonnes. “Base metals are...

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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
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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
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May 24, 2012 13:48 Base metal prices stable in LME officials as euro plateaus

Nickel & Tin

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 10:15 Base metals prices fall in LME pre-market in the wake of listing eurozone
May 24, 2012 05:50 Trafigura will move to Singapore this year
May 24, 2012 03:57 LME ASIAN WRAP: Copper prices see small lift from US data

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.