February 2012

Biggest names in metals implicated in LME copper backwardation

Was it Goldman Sachs, Red Kite or Glencore that pushed the copper market into backwardation on Friday February 24? Each of them had reason to borrow nearby spreads and settle shorts, sources told Metal Bulletin.

LME steel billet prices pause after Friday’s surge

London Metal Exchange three-month steel billet prices fell back on Monday February 27 after a surge in trading on February 24.

Base metals prices drift down in LME officials as Euro fund falls short

Base metals settled below their opening prices in Monday’s official session on the London Metal Exchange, after a meeting of G20 finance ministers said eurozone nations needed to commit more money to their rescue fund before any international aid would be forthcoming.

Base metals prices edge down in LME pre-market trading

Base metals dipped slightly from their opening prices in pre-market trading on the London Metal Exchange on Monday February 27, with aluminium the strongest performer with good fund buying after breaking through its 200-day moving average last week.

Shanghai copper rises, tracking local stocks

Shanghai Futures Exchange copper prices were up 0.6% on Monday, as the metal tracked gains in the local stock market.

LME ASIAN WRAP: Base metals stay in narrow range

Base metals remained rangebound in morning trading on the London Metal Exchange on Monday as an uneventful G-20 meeting deflated market sentiment.

US copper scrap prices rise despite slack demand

Rising Comex copper prices and falling scrap supply caused copper scrap spreads to narrow and brass scrap prices to increase slightly this past week.

Copper, aluminium prices rise in LME officials as euro firms

Copper and aluminium prices advanced in afternoon trading on the London Metal Exchange on Friday February 24 as the euro strengthened and oil prices increased.

LME steel billet prices rise again on strong euro, scrap prices

London Metal Exchange steel billet prices increased again on Friday February 24 on a stronger euro-dollar exchange rate and higher scrap costs, a trader told Metal Bulletin.

Alberta Coal to seek listing on London Stock Exchange

Canada-based Alberta Coal Corp is to apply for a listing on the main market of the London Stock Exchange (LSE), the company said in a statement on Friday February 24.