Base metals fell as demand concerns offset firm equities. Industrial metals rose early on Friday but there is still a strong fear about recession. A strong close for U.S. equities on Thursday, with the Dow Jones industrial average .DJI up more than 4 percent, helped underpin stock markets in Europe and Asia. Read the [...]
Continue reading "Industrial Metals Eye Equities"
Friday, October 10, 2008
Investors frozen by the recessionary chill saw copper drop to its lowest point since March 2006. Copper sank more than 9 percent. Copper looks to be the most exposed as sectors beyond the banking sectors are being impacted by negative demand reaction. Copper is now very close to $4,000, the average cost of production, according [...]
Continue reading "Metals Dive with Recessionary Chill"
Tuesday, October 7, 2008
LME copper rose after Australia chose to cut interest rates by 1 percentage point – the biggest cut in 16 years. The rise in copper is seen as short-term given concerns about global financial crisis. Shanghai Futures Exchange (SHFE) copper is the weakest it has been in two and a half years. London Metal Exchange copper [...]
Continue reading "LME Copper Eases and Shanghai Copper Down"
Friday, September 26, 2008
With Shanghai copper inventories dropping as much as 2,000 metric tonnes this week as well as expectation for further drops in stockpiles copper futures were up this week for the first week in five. Trading is lackluster today as many people are already out for the holidays, and few want to put on new positions [...]
Continue reading "Shanghai Copper Increases After 5 Weeks"
Tuesday, September 16, 2008
Copper was at an eight month low with investors concerned that global financial instability would impact demand. Analyst, Leon Westgate, of Standard Bank noted further liquidation to be expected. All markets are linked to each other which makes things like Lehman going under much more worrying — you wonder where the next weak link in [...]
Continue reading "Copper Sinks on Financial Woes"
Thursday, August 28, 2008
London Metal Exchange stocks rose leaving a downturn in copper prices as inventory increased. Shanghai Futures Exchange is also rumoured to have big arrivals. Despite the decrease in the US dollar and an increase in crude oil concern seems to be on inventory. “Unusually, metals are looking past these items and seem to be focusing, instead, [...]
Continue reading "Supply Issues Weaken Copper"
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Friday, October 17, 2008