September 2013

LME BILLET REPORT: Contract, cash prices fall $5 at high end of range

The London Metal Exchange’s three-month steel billet contract price fell to $225-235 per tonne on Friday September 27, from $230-240 per tonne on Thursday.

LME OFFICIALS: Tin prices hit 6-month high

London Metal Exchange tin prices hit a six-month high during official trading on Friday September 27, reaching levels last seen on March 15.

Short copper prices $7,500, but beware Indonesian ore ban – Barclays

Investors should short copper if the market rallies to $7,500 per tonne, as higher prices run contrary to a worsening fundamental outlook for the red metal, Barclays advised clients in a note on Friday September 27.

INTERVIEW: SHFE Crude oil contract pending – Newedge’s Pang

The Shanghai Futures Exchange’s new crude oil contract will be launched in the fourth quarter of this year or the first quarter of 2014, Sebastian Pang, Newedge’s head of energy (APAC), told Metal Bulletin.

HOTLINE: What if the aluminium carry-trade is riskier than calculated?

What if, post 2008, a bank or hedge fund wrenched its money out of risky markets and poured it into anything that was likely to be a store of value through the storm?

Shanghai copper price up as shorts close positions

The Shanghai Futures Exchange copper price settled higher on Friday September 27 as shorts closed positions ahead of the week-long national holiday in China.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

LME ASIAN WRAP: Copper price down as market awaits US, China cues

The London Metal Exchange copper price drifted lower during Asian morning trading on Friday September 27 as concerns over the US fiscal policy lingered and investors left the market ahead of the week-long break in China.

US Midwest aluminium premiums tumble again

US Midwest aluminium premiums edged down again this week due to continued uncertainty over proposed London Metal Exchange warehouse policies and a stalemate between buyers and sellers over where premiums might settle.

MB ASIAN NICKEL CONF: PT Indoferro running at 70% of capacity

Production of nickel pig iron (NPI) in Indonesia has been falling since April as a result of weak nickel prices on the London Metal Exchange, according to the country’s only NPI producer, PT Indoferro.