February 2012

Base metals prices mixed in LME officials

Base metals prices staged a mixed performance on Thursday February 23 in official trading on the London Metal Exchange, with copper trading out of line with higher equities and the stronger euro.

'Encouraging volumes' on LMEswaps; interest focused on aluminium

The London Metal Exchange saw “encouraging volumes” in the first month of trading on the new LMEswaps contracts, with 2,400 lots traded since January 23.

Shanghai copper slips on Europe worries, deflated spot market

Shanghai Futures Exchange copper prices settled lower on Thursday February 23 due to Europe woes and a weak China spot market.

LME ASIAN WRAP: Copper retreats on poor European PMI and Greece downgrade

London Metal Exchange copper contracted in early Asian trading on Thursday after disappointing purchasing data for eurozone countries and a Greek debt ratings downgrade weighed on sentiment.

Nickel seesaw impacting US stainless buying

Seesawing nickel prices on the London Metal Exchange are having a varied impact on distributors’ order books for stainless flat-rolled, with some seeing increased buying from customers due to the rapidly changing prices and others suffering a sharp drop-off in orders.

Teck and Sumitomo settle zinc TCs with KZ at $191, other smelters will hold out [UPDATE]

Teck has settled zinc concentrate treatment charges (TCs) with Korea Zinc at $191 per dmt for 2012, a lower level than the $229 per dmt seen last year, sources told Metal Bulletin.

CLOSE TO CLOSE: Aluminium prices gain as copper prices fall in LME kerb

Base metals were mixed in London Metal Exchange kerb trading on Wednesday February 22 as aluminium gained ground on its previous close and copper and nickel fell back.

Cost push sees LME 3-month steel billet rise for third day straight

The London Metal Exchange’s three-month steel billet contract had a third consecutive day of price hikes, having risen by a total of $15 since Monday February 20.

TRADERIGHT: Warehouse games

On looking at the cancelled aluminium warrants published by the London Metal Exchange, I was trying to work out the logic behind cancelling warrants.

Base metals prices fall in LME officials amid bearish European data

Base metals prices continued falling in official trading on the London Metal Exchange on Wednesday February 22, as disappointing European data added to trader doubts that improved prices are justified.