May 2012

LME ASIAN WRAP: Copper prices fall on China stimulus plan, Spain downgrade

Copper prices on the London Metal Exchange fell in early Asian trading on Wednesday May 30 after Spain’s ratings downgrade and news that the Chinese government will not introduce a large-scale stimulus package weakened sentiment.

SPOTLIGHT: Rush spells rapid change in metal futures

Will trading metal futures markets be transformed by the liberalisation of financial markets in China more rapidly than anybody expected?

CLOSE TO CLOSE: Nearby copper curve in contango in LME kerb, prices inch lower

Nearby copper spreads finished in a contango in kerb trading on the London Metal Exchange on Tuesday May 29, while the cash-to-three-month spread finished in a $10 backwardation.

LME BILLET REPORT: Three-month official prices post gains

London Metal Exchange official three-month steel billet prices pushed up to $435/445 per tonne on Tuesday May 29 from $415/425 per tonne on Monday May 28.

IRON ORE DERIVATIVES WRAP: Index recovery prompts higher OTC volumes

An unexpected recovery in physical iron ore prices boosted OTC iron ore volumes on Tuesday, May 29, brokers told Metal Bulletin.

Copper prices slip in LME officials as euro mood wipes out Asian gains

Copper prices slipped back in official trading on the London Metal Exchange on Tuesday May 29 on concerns about stability in the eurozone, giving up gains made in the Asian session.

Copper could follow SHFE's dual-currency oil contract

The Shanghai Futures Exchange will use its planned dual-currency crude oil contract as a template and test for similar offerings in copper and other metals, exchange officials said.

Shanghai copper prices move up on Asian stocks

Copper prices on the Shanghai Futures Exchange rose for a second day on Tuesday May 29 helped by a stronger Asian stock market.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

LME ASIAN WRAP: Copper edges down on Spain debt issues

Copper prices on the London Metal Exchange edged down in early Asian trading on Tuesday May 29, as fresh eurozone concerns dampened investor sentiment.