February 2012

HOTLINE: All in a day’s work for Metal Bulletin’s pricing reporters

For all those subscribers that have been pondering what lies beneath Metal Bulletin’s extensive, unrivalled pricing service, we present our introduction to pricing for new recruits.

LME asks warehouses for data on outbound delivery queues

The London Metal Exchange has requested that warehousing companies provide additional details regarding outbound queues to withdraw metal at all locations in the LME warehousing system, Metal Bulletin understands.

Nickel and copper prices slide in LME pre-market, aluminium firms

Nickel and copper prices traded in tight ranges in Friday’s pre-market trading on the London Metal Exchange, slipping back from their opening levels as aluminium firmed.

CHINA STEEL WRAP: Price rally loses momentum

This week’s rally in spot prices petered out on Friday February 24, as higher prices already began to put off new buyers.

Jiuquan Steel March ferro-chrome bid lower than expected

Jiuquan Steel's ferro-chrome bid price for March will be just 50 yuan ($8) higher than in February, market participants told Metal Bulletin.

LME ASIAN WRAP: Copper stays rangebound on thin trades

London Metal Exchange copper traded in a tight range in the early Asian session on Friday as investors speculated on the change in copper inventories at the Shanghai Futures Exchange, which will be announced later today.

US buyers seek fixed aluminum premiums amid rise

Rising Midwest spot aluminum premiums have led to requests from some consumers for fixed premiums for the rest of 2012.

CLOSE TO CLOSE: Base metals prices down as nickel slips below $20,000 in LME kerb

Base metals prices slid in Thursday’s kerb trading on the London Metal Exchange as nickel dipped below $20,000 per tonne and just managed to hold that level for the close.

LME three-month steel billet price stays on upswing

The London Metal Exchange’s three-month steel billet contract continued its day-on-day upward trend on Thursday February 23, having risen by an average $35 since February 20.

Short-dated carries will be exempt from delayed LME user fee

Short-dated carries are to be exempt from the new user fee on the London Metal Exchange, chief executive Martin Abbott said in a notice to members.