September 2013

Mirabela Nickel to delist from Toronto Stock Exchange

Shares in Australia’s Mirabela Nickel will no longer be traded on the Toronto Stock Exchange (TSX) as the company has applied for a delisting from the Canadian stock market.

CLOSE TO CLOSE: Copper price keeps firming in LME kerb

Copper prices increased slightly on the day in the closing session of the London Metal Exchange, looking positive from a technical perspective as they held above a series of important averages

LME BILLET REPORT: Billet prices fall as stocks drop below 30,000 tonnes

The three-month steel billet contract price on the London Metal Exchange rose by $5 per tonne on the lower end of the range to $230-235 per tonne on Monday September 30.

LME OFFICIALS: Copper prices edge up, spreads tighten

Copper prices secured modest gains in Monday’s official trading on the London Metal Exchange and nearby spreads continued to tighten.

[CORRECTION] Abbott, other senior staff collect £19.6m from sale of LME to HKEx

[An earlier version of this story incorrectly reported that Martin Abbott was the sole recipient of awards under the LME's long-term incentive plan. The updated version clarifies that while no other directors participate in the scheme, certain other staff members do. The LME declined to comment on how those awards are shared between Abbott and the other staff.]

Shanghai copper gains capped by uninspiring HSBC PMI

Shanghai Futures Exchange copper rose slightly on Monday September 30, with gains limited by the disappointing HSBC manufacturing activity index and low trading because of the approaching holiday.

Goldman, LME hit with further legal action over aluminium stocks

Goldman Sachs Group, two of its subsidiaries and the London Metal Exchange have been hit with another antitrust lawsuit alleging that they conspired to boost wait times for aluminium and to manipulate metal prices and premiums.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*

LME ASIAN WRAP: Copper price in narrow range ahead of China holiday

The London Metal Exchange copper price was slightly up during Asian morning trading on Monday September 30, though gains were limited amid thin trading ahead of holidays in China and budget talks in the USA.

Banks, funds offer large clips of aluminium to traders

Large volumes of duty-unpaid aluminium are being offered by banks and hedge funds involved in financing trades as they seek to reduce their positions, traders told Metal Bulletin.