September 2012

IRON ORE DERIVATIVES WRAP: OTC values push higher then retreat in choppy trade

Early Asian trading saw the OTC iron ore market post further gains, but prices fell back after a raft of physical tenders were left unsold, brokers told Metal Bulletin sister publication Steel First on Wednesday September 19.

LORD COPPER: Nearby aluminium backwardations are irrelevant to financiers

The aluminium market seems to be being pulled in different directions, leading to a very unstable environment. On the one hand is the trade, spearheaded by the producers, largely expecting steadily improving prices.

LME OFFICIALS: Base metals mixed – Cu, Zn gain as Al slides

Base metals remained mixed in Wednesday’s official trading on the London Metal Exchange, as caution over demand prospects partly offset the impact of quantitative easing measures announced by Japan.

LME BILLET REPORT: Prices edge up $10, stock levels unchanged

The London Metal Exchange’s three-month steel billet contract price edged higher to $335-345 per tonne on Wednesday September 19, from $325-335 per tonne on Tuesday.

Shanghai copper prices rise as BOJ adds to stimulus rally

Shanghai Futures Exchange copper prices rebounded after two days of declines, as market confidence improved following the Bank of Japan's announcement of monetary easing measures.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China

CLOSE TO CLOSE: Base metals mixed in LME kerb

Base metals staged a mixed performance in Tuesday’s kerb trading on the London Metal Exchange, amid concerns over Chinese buyers' response to higher prices and as traders watched fluctuating backwardations in the nearby aluminium spreads.

IRON ORE DERIVATIVES WRAP: Physical iron ore gains boost swaps prices

Chinese mills moving into the market to restock depleted iron ore stockpiles caused a rush of physical tenders in the market on Tuesday September 18, prompting a pick-up in OTC prices.

LME BILLET REPORT: Prices creep higher, stocks unchanged

The London Metal Exchange’s three-month steel billet contract price edged higher to $325-335 per tonne on Tuesday September 18, from $320-330 per tonne on Monday.

LME OFFICIALS: Base metals slide on fears China will shun rally

Base metals prices lost steam in official trading on the London Metal Exchange amid concerns that higher prices will deter Chinese buying.