May 2013

Shanghai copper climbs ahead of Bernanke’s speech

Shanghai Futures Exchange copper price edged up on Wednesday May 22 as the US dollar softened ahead of US Federal Reserve chairman’s comments on the road ahead for USA’s economy.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

LME ASIAN WRAP: Copper price up as Fed hints stimulus will continue

Copper price on the London Metal Exchange was up during the Asian morning session on Wednesday May 22 after US Federal Reserve officials indicated that the central bank’s bond-buying programme will continue.

CLOSE TO CLOSE: Copper prices lose strength in rangebound day on LME

Copper prices lost some strength on the London Metal Exchange during the kerb session on Tuesday May 21, as base metals prices slid sideways in their ranges across the complex.

MB APEX Q1 2013 BASE METALS: Investors jump ship to equities – Meir

Investors have been jumping ship from base metals in recent months, almost universally in favour of equities, according to Edward Meir, an analyst at INTL FCStone.

COMMENT: Fee increase sours the end of LME’s time with LCH.Clearnet

Separation and anger go hand-in-hand – just ask the dazed and confused suing their former partners for every penny in the divorce courts of London. Or ask brokers on the London Metal Exchange and LCH.Clearnet, which last Wednesday announced a tripling of fees for clearer members of the LME, and gave them a bare two weeks to prepare for it.

IRON ORE DERIVATIVES WRAP: OTC values up on higher physical deals

The iron ore swaps market saw prices push up after a higher-than-expected tender result on Tuesday May 21.

LME BILLET REPORT: 3-month steel billet contract prices rise $20

The London Metal Exchange’s three-month steel billet contract price increased to $160-180 per tonne on Tuesday May 21, from $150-160 per tonne on Monday.

LME OFFICIALS: Copper prices up in official session; short positions highest since 2008

The number of short positions in copper on the London Metal Exchange has risen to its highest level since 2008, a category I trader said during the official session on Tuesday May 21.

Shanghai copper price up on Chinese demand promise; all eyes on Fed

Shanghai Futures Exchange copper price settled higher on Tuesday May 21 as the US dollar retreated after recent gains and Chinese demand showed signs of improvement.