February 2013

IRON ORE DERIVATIVES WRAP: Stronger rebar pushes up OTC iron ore market

Stronger rebar prices saw the OTC iron ore market post a slight recovery on Thursday February 28, with prices moving up around $1-3 on the day despite little or no physical news.

CLOSE TO CLOSE: Base metals prices led by technicals in kerb

Base metals prices were led by technical indicators during the kerb session on the London Metal Exchange on Thursday February 28, as there was a general dearth of macroeconomic news affecting the market.

HOTLINE: Former Marex ceo Slade takes over at London Capital Group

Mark Slade, former Marex Financial ceo, has taken up the reins as chief executive of London Capital Group, a provider of online trading services.

LME BILLET REPORT: 3-month contract prices fall $25

The London Metal Exchange’s three-month steel billet contract prices fell to $255-265 per tonne on Thursday February 28, from $280-290 per tonne on Wednesday.

MEIR ON METALS: Base metals prices down as revised US GDP disappoints

Analyst Ed Meir looks at what is moving the metal markets on Thursday February 28.

LME OFFICIALS: Zinc price spreads narrow in official trading

Nearby zinc price spreads narrowed during official trading on the London Metal Exchange on Thursday February 20, a category I trader told Metal Bulletin.

Shanghai Futures Exchange to launch benchmark price from March

The Shanghai Futures Exchange (SHFE) will start publishing morning benchmark prices from March, in a step the exchange hopes will provide more guidance for the physical market.

ENRC rebuffs fresh takeover rumours

Mining company ENRC has rebuffed rumours that it is in discussions to go private at £4.00-4.60 a share.

Shanghai copper continues to gain; market awaits govt cues

Shanghai Futures Exchange copper prices gained for a third day on Thursday February 28, on continuing support from the US Federal Reserve chairman for stimulus measures.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*