September 2012

LME copper moves into backwardation amid talk of long-short struggle, warrant play

The front end of the copper price curve moved into a clear backwardation on the London Metal Exchange on Friday September 28, as sources reported strong volumes traded on the October-November spread.

MEIR ON METALS: Metals push slightly higher in face of grim macro data

Analyst Ed Meir looks at what is moving the metal markets on Friday September 28.

UK 18/8 solids import prices up on LME nickel increase

The price of UK 18/8 stainless steel solids has jumped this week on nickel’s recovery on the London Metal Exchange, market sources told Metal Bulletin sister title Steel First.

Shanghai copper prices rise on liquidity injection from central bank

Shanghai Futures Exchange copper prices rose on Friday September 28 after action from China’s central bank provided a last-minute boost to a lacklustre week.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China

CISA IRON ORE CONF: CBMX will start electronic bidding in October

China Beijing International Mining Exchange (CBMX) will offer electronic bidding from October.

US billet producers look to raise 2013 base prices

Producers are looking to raise aluminium billet base prices by 2-3 cents per lb for 2013, market participants told Metal Bulletin sister publication AMM.

CME to launch Chinese rebar swap futures in October

CME Group plans to launch a new steel swap futures contract for Chinese rebar beginning October 15 in an effort to reduce price volatility in the steel supply chain, it said on Thursday, September 27.

CLOSE TO CLOSE: LME copper prices close higher after kerb rally

Copper prices closed up on the day on Thursday September 27 after gaining $70 in the last 20 minutes of trading, supported by the publication of Spain’s austerity budget and speculation that China may announce new stimulus measures.

European copper premiums higher after Antofagasta port strike

Rotterdam copper premiums have pushed higher in the past week after a strike at Antofagasta port in Chile caused shipment delays to Europe.