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May 2012
24 May 2012
London Metal Exchange official three-month steel billet prices tumbled to just above $400 per tonne on Thursday May 24, dropping to $400/410 per tonne from $445/455 on May 23.
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24 May 2012
Iron ore swaps volumes dropped after a run of busy trading days, with one 100,0000tonne trade making up the bulk of business, brokers told Metal Bulletin on Thursday May 24.
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24 May 2012
Base metal prices rose back above their previous closing prices in kerb trading on the London Metal Exchange on Thursday May 24, as the euro recovered slightly from earlier lows.
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24 May 2012
Base metals stabilised in official trading on the London Metal Exchange on Thursday May 24, after the eurozone debt crisis saw prices fall heavily on Wednesday.
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24 May 2012
Shanghai Futures Exchange copper prices were little changed ,as market participants pondered an improvement in arbitrage between London and Shanghai.
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24 May 2012
Base metals prices continued to weaken in pre-market trading on the London Metal Exchange on Thursday May 24, as European leaders continued to debate solutions to the eurozone debt problems.
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24 May 2012
London Metal Exchange copper prices staged a small rebound in early Asian trading on Thursday May 24 on technical buying.
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23 May 2012
London Metal Exchange official three-month steel billet prices pushed up to $445/455 per tonne on Wednesday May 23 from $440/450 on May 22.
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23 May 2012
Base metals prices all found new intra-day lows in kerb trading on the London Metal Exchange on Wednesday May 23, as the euro continued to suffer under the uncertainty of Greece’s future in the single currency.
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23 May 2012
Ferro-molybdenum prices fell by up to 55 cents per kg on Wednesday May 23 as suppliers cut offer prices to secure consumer demand and unwind positions.
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23 May 2012
Copper found its lowest official price since the first week of the year on the London Metal Exchange on Wednesday May 23, as eurozone sentiment soured.
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23 May 2012
Shanghai Futures Exchange copper prices sank by 1.6% on Wednesday May 23, as falls in global markets weakened sentiment.
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23 May 2012
Copper prices fell back to recent support levels in pre-market trading on the London Metal Exchange on Wednesday May 23, with the euro losing strength as traders again considered Greece’s possible exit from the eurozone.
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23 May 2012
London Metal Exchange copper prices fell in early Asian trading on Wednesday May 23, as the US dollar index rose on Greece eurozone exit worries.
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22 May 2012
London Metal Exchange official three-month steel billet prices pushed up to $440/450 on Tuesday May 22, from $425/435 on Monday May 21.
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22 May 2012
An unexpected reversal in OTC iron ore prices on Tuesday May 22 saw levels push up for the first time in more than a week, but brokers warned that the reprieve from falling prices would be short-lived.
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22 May 2012
Base metals prices remained in tight ranges during kerb trading on the London Metal Exchange on Tuesday May 22, closing an uneventful day in which no drivers appeared to push prices in either direction.
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22 May 2012
Spot zinc treatment charges (TCs) in Asia are approaching $100 per dry metric tonne as Chinese smelters’ demand for overseas concentrates dwindles, market sources told Metal Bulletin on Tuesday May 22.
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22 May 2012
The race to acquire the London Metal Exchange has been narrowed down to just two bidders, the exchange announced on Tuesday May 22.
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22 May 2012
Following market consultation, Metal Bulletin has decided to discontinue those weekly assessments for which it also publishes prices based on its established and leading index methodology. In each case, the assessment will be discontinued while Metal Bulletin will continue to publish the respective indices.
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22 May 2012
Base metals continued to trade in stable ranges in the official session on the London Metal Exchange on Tuesday May 22, having calmed following positive remarks from both the G8 summit in the USA and Chinese Premier Wen Jiabao.
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22 May 2012
Glencore has taken majority control of Mutanda Mining and its operations in the Democratic Republic of Congo, in a $340 million share purchase deal.
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22 May 2012
Base metals prices remained in tight ranges in pre-market trading on the London Metal Exchange on Tuesday May 22, following slightly improved European sentiment following remarks from the G8 summit in Camp David, USA.
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22 May 2012
Huta Cynku Miasteczko Slaskie (HCM) has no immediate plans to deliver into London Metal Exchange-listed warehouses following the registration of its special high grade zinc brand earlier this month, commercial manager Marek Drosik told Metal Bulletin on Monday May 21.
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22 May 2012
Shanghai Futures Exchange copper inched up by 0.1% on Tuesday tracking the overnight rebound in overseas markets.
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22 May 2012
London Metal Exchange copper prices traded in a tight range in the early Asian session on Tuesday May 22, as sentiment turned cautiously optimistic in light of the latest news from Europe.
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22 May 2012
The supply of copper scrap in the US market has been reduced by falling primary metal prices on Comex, traders and consumers said at the American Copper Council’s Copper College 2012 in Phoenix.
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21 May 2012
The tight supply of scrap auto lead batteries in the United States has driven up prices, pushing the value of the lead recovered from the recycled batteries above the value of pure, exchange-traded material.
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21 May 2012
A lower-than-expected physical iron ore tender pushed OTC iron ore values further down on Monday May 21, while iron ore futures volumes shot up to record daily highs.
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21 May 2012
London Metal Exchange official three-month steel billet prices dropped to $425/435 on Monday May 21, from $440/450 on May 18.
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21 May 2012
French steelmaker Laminés Marchands Européens has listed a brand with the London Metal Exchange with effect from Monday May 21, the bourse said.
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21 May 2012
Base metals prices remained rangebound in kerb training on the London Metal Exchange on Monday May 21, as a lack of traditional market drivers caused traders to turn their attention to the G8 summit at Camp David in the USA.
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21 May 2012
Copper prices held early gains in the official session on the London Metal Exchange on Monday May 21, while the other base metals prices fell back to earlier lows on a day bereft of market-driving news.
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21 May 2012
Chinese steel majors Baosteel, Hunan Valin and Minmetals have agreed to become founding shareholders of electronic physical iron ore trading platform Global Ore, ceo Louis Fel said in a statement on Monday May 21.
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21 May 2012
Base metals prices rose in pre-market trading on the London Metal Exchange on Monday May 21, as the euro improved slightly against the dollar after weakening since the start of the month.
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21 May 2012
Canada-based copper and zinc producer Hudbay Minerals has scrapped plans to raise $400 million through a senior note offering due to weak conditions in debt markets.
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21 May 2012
Shanghai Futures Exchange copper prices rose by 1.5% on Monday May 21 after China premier Wen Jiabao promised to support economic growth.
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21 May 2012
Arbitrage for copper, aluminium and zinc imported into China
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21 May 2012
Copper prices on the London Metal Exchange climbed in early Asian trading on Monday May 21 after China’s premier Wen Jiabao indicated that the government will increase its focus on improving economic growth.
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21 May 2012
Chinese interest in the tin market is expected to increase as London Metal Exchange prices fall, and arbitrage opportunities open up, traders told Metal Bulletin.
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19 May 2012
Free-market aluminum scrap prices were largely unchanged Thursday, although some mill-grade scrap prices are moving up.
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18 May 2012
The iron ore swaps market saw volumes rise again on Friday May 18, reacting to further physical price falls.
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18 May 2012
Base metals prices consolidated early gains in Friday’s official trading on the London Metal Exchange on Friday May 18, as the euro improved and market participants expected short-covering ahead of the weekend.
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18 May 2012
Copper prices firmed in pre-market trading on the London Metal Exchange on Friday May 18, as traders balanced the prospect of short-covering against the bearish economic outlook for Europe.
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18 May 2012
None of the bidders looking to buy the London Metal Exchange plan to make substantial changes to the exchange's date structure, warehouses or open-outcry trading ring, Metal Bulletin understands.
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18 May 2012
London Metal Exchange official three-month steel billet prices dropped to $440/450 on Thursday May 17, from $470/480 on May 16.
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18 May 2012
Copper prices on the Shanghai Futures Exchange inched down on Friday May 18 as investors remained cautious in the face of market uncertainty.
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18 May 2012
Arbitrage for copper, aluminium and zinc imported into China
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18 May 2012
Copper prices on the London Metal Exchange stayed in a tight range in early Asian trading on Friday May 18 as the market remained bearish after the red metal’s slide to a four-month low at the start of the week.
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17 May 2012
Base metals prices were mixed in Thursday’s kerb trading on the London Metal Exchange after spending the day in tight ranges tracking the fluctuating euro.
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17 May 2012
The London Metal Exchange achieved pre-tax profits of £11.38 million ($18.15 million) in 2011, down 8.7% as the company saw expenses jump by nearly a third due to higher operational costs.
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17 May 2012
Nickel was the only base metal to manage a small improvement in official trading on the London Metal Exchange as all base metals prices looked rangebound amid anxiety over Europe’s economic situation on Thursday May 17.
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17 May 2012
The London Metal Exchange is to begin moving staff for its planned proprietary clearing house into dedicated offices by the third quarter of this year.
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17 May 2012
Base metals prices, with the exception of lead, improved in pre-market trading on the London Metal Exchange on Thursday May 17, following on from a stronger Asian session.
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17 May 2012
The Shanghai Futures Exchange copper price inched up on Thursday May 17 as a strong stock market rally saw the red metal recover some of the previous day’s losses.
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17 May 2012
The London Metal Exchange copper price remained in a tight range in the early Asian session on Thursday May 17 as the market remains bearish due to turmoil in Europe.
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17 May 2012
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.
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16 May 2012
Copper prices retreated in kerb trading on the London Metal Exchange as nickel prices and aluminium prices managed small gains in the face of crippling fears over Europe’s economic situation.
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16 May 2012
Several consecutive days of sharp OTC iron ore price drops slowed on Wednesday May 16, brokers told Metal Bulletin.
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16 May 2012
Michael Warren, the London Metal Exchange’s chief technology officer, has died age 56, the exchange announced on Tuesday May 16.
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16 May 2012
Base metal prices crept up from earlier lows in official trading on the London Metal Exchange on Wednesday May 16, though the spectre of a bankrupt Greece remains firmly in the foreground.
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16 May 2012
Analysts at Standard Chartered have cut price forecasts for base metals on the back of weak macroeconomic data from China and India, as well as a lack of confidence in Europe.
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16 May 2012
Activity in the European tin market is steady but quiet, as demand remains low and traders prepare for the traditional summer lull on the continent, traders told Metal Bulletin.
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16 May 2012
Copper prices lost ground in pre-market trading on the London Metal Exchange on Wednesday May 16, as the euro hit a four-month low against the dollar and Greece’s exit from the EU looked imminent.
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16 May 2012
NYSE Euronext has been knocked out of the bidding for the London Metal Exchange after submitting a proposal that valued the exchange at around £800 million ($1.28 billion).
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16 May 2012
Arbitrage for copper, aluminium and zinc imported into China
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16 May 2012
London Metal Exchange copper prices slid further in early Asian trading on Wednesday May 16 as Greek uncertainty sapped risk appetite and the dollar index climbed sharply.
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15 May 2012
Free-market aluminum scrap and alloy prices dropped almost across the board Monday as the London Metal Exchange alloy contract held below the symbolic $2,000-per-tonne mark.
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15 May 2012
Copper continued lower in kerb trading on the London Metal Exchange after weaker numbers started to alleviate the backwardation in the cash to three-month spread on Tuesday May 14.
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15 May 2012
As the world reels from another $2bn trading loss, Metal Bulletin asks whether London’s position as a global banking centre is at risk.
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15 May 2012
The steep backwardation, which has dominated the London Metal Exchange copper market over recent weeks, all but collapsed on Tuesday May 15, after prices plunged on Monday.
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15 May 2012
Metal Bulletin prices global aluminium premiums on a daily basis. Please find the methodology below.
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15 May 2012
Metal Bulletin prices global lead premiums on a daily basis. Please find the methodology below.
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15 May 2012
Metal Bulletin prices global primary nickel premiums on a daily basis. Please find the methodology below.
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15 May 2012
Metal Bulletin prices global primary zinc premiums on a daily basis. Please find the methodology below.
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15 May 2012
Metal Bulletin prices global copper premiums on a daily basis. Please find the methodology below.
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15 May 2012
Arbitrage for copper, aluminium and zinc imported into China
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15 May 2012
Marex Spectron expects copper prices to dip to a low of $7,500-700 per tonne in the next three months before rebounding to hit $9,000 per tonne late in the third quarter, macro strategist Guy Wolf told Metal Bulletin.
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15 May 2012
Copper prices held firm in pre-market trading on the London Metal Exchange on Tuesday May 15 as nickel and aluminium also managed small improvements after a subdued Asian session.
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15 May 2012
Base metals research that focuses heavily on fundamentals is not well-tailored to buy-side investors such as hedge funds that trade across multiple markets, Marex Spectron macro strategist Guy Wolf told Metal Bulletin.
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15 May 2012
London Metal Exchange copper traded in a tight range in early Asian trading on Tuesday May 15, as market participants pondered whether a slowdown in Chinese growth has signalled the end of a super cycle in metals prices.
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14 May 2012
Copper prices had further to fall in kerb trading on the London Metal Exchange on Monday May 14, as concerns over the prospect of Greece’s exit from the eurozone grew amid protracted concerns over a slowdown in China.
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14 May 2012
London Metal Exchange three-month official steel billet prices fell sharply on Monday May 14 to $445/455, down by $25 from levels of $470/480 on Friday May 11.
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14 May 2012
A delegation from Saudi Arabia plans to visit the London Metal Exchange in the coming weeks in a bid to register Jeddah as an approved delivery point for exchange-bonded metals, Ambro Metals founder Steven Spencer told Metal Bulletin.
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14 May 2012
Iron ore swaps volumes remained at high levels on Monday May 14 after physical iron ore tenders were concluded at lower levels for a second consecutive workday.
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14 May 2012
Natixis has appointed David Gornall as global head of metals trading at its fixed income, commodities and treasuries (FIC&T) unit as part of a development of its commodities derivatives business, the company announced on Monday May 14.
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14 May 2012
Marex Spectron has acquired the Pro-Trader division of Schneider Trading Associates, in a move it expects will attract new clients to its markets and strengthen its presence in the trading services space.
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14 May 2012
Copper prices settled at a four-month low in official trading on the London Metal Exchange on Monday May 14, after growing concerns over the global economy kept base metals under pressure throughout overnight and pre-market trading.
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14 May 2012
Copper prices lost 2.6% in pre-market trading on the London Metal Exchange on Monday May 14, a continuation of a subdued Asian session, amid protracted renewed concerns over the global economy.
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14 May 2012
Shanghai Futures Exchange copper dropped on Monday May 14, even after China’s central bank cut cash reserve requirements to boost the economy
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14 May 2012
Arbitrage for copper, aluminium and zinc imported into China
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14 May 2012
The London Metal Exchange copper price slid to a four-week low in early Asian trading on Monday May 14, as market participants dismissed a potential boost from a cut in Chinese banks’ reserve requirement ratio (RRR).
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11 May 2012
Aluminum scrap trading activity has slowed, with sellers either waiting out depressed London Metal Exchange prices or easing prices to conclude business.
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11 May 2012
The three-month official cash price for steel billet on the London Metal Exchange was unchanged on Friday May 11 from levels seen the previous day.
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11 May 2012
Prices continued to trend down on Friday May 11, helping boost swaps volumes as market participants rushed in to tap into much-sought liquidity.
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11 May 2012
Stainless long steel group Schmolz+Bickenbach has set a price of €258 million ($334.1 million) for its bond issue, according to a company statement on Friday May 11.
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11 May 2012
Base metals prices lost ground in official trading on the London Metal Exchange on Friday May 11 as equity markets slid and the dollar rallied.
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11 May 2012
As a small backwardation emerged in London Metal Exchange zinc spreads this week, Hotline’s sources, in the absence of any firmer evidence, offered what is becoming a de facto explanation for any moves at all in the metal markets.
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11 May 2012
Rumours were sweeping the market late last week that Natixis was fielding offers for the metals part of its business, which were sparked by its announcement on Wednesday May 9 that it planned to wind down its commodity brokerage.
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11 May 2012
Hancock Prospecting’s Roy Hill iron ore project has joined the list of iron ore producers that have signed up to trade iron ore on the China Beijing International Exchange (CBMX).