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Zinc down, Copper Drops in London
on Chinese Demand Concerns: LME Preview
By Anna Stablum
June 1 (Bloomberg) -- Copper fell in London on concern over demand in China, the world’s largest consumer, after manufacturing expanded at a slower pace last month and property transactions dropped.
-- Copper fell 2.6 percent to $6,760 a metric ton on the
London Metal Exchange at 7:51 a.m. Relative Strength Index
43.
-- Aluminum eased 1.1 percent to $2,021.25 a ton. RSI 42.
-- Zinc dropped 1.6 percent at $1,906 a ton. RSI 37.
-- Lead fell 2.2 percent to $1,810.50 a ton. RSI 39.
-- Nickel declined 2.3 percent to $20,830 a ton. RSI 39.
-- Tin was 1.1 percent lower at $17,700 a ton. RSI 47.
Other markets: Last % Change % YTD
U.S. Dollar Index 86.686 0.1 11.3
Crude oil $74.19 0.3 -6.5
Gold $1,221.05 0.4 11.3
MSCI World Index 1,079.50 0.0 -7.6
Economic Events:
Forecast Prior Time
(London)
EC Euro-Zone Unemployment Rate 10.0% 10.0% 10:00
U.S. ISM Manufacturing 59.0 60.4 15:00
U.S. ISM Prices Paid 72.0 78.0 15:00
U.S. Construction Spending MoM 0.1% 0.2% 15:00
U.S. Dallas Fed. Manf. Activity 18.6% 21.1% 15:30
U.S. ABC Consumer Confidence -45 -45 22:00
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajS7oy0sgTFY
Copper 3.1132 - futures end up,
dollar rally saps momentum
Wed May 26, 2010 2:26pm EDT
NEW YORK, May 26 (Reuters) - U.S. copper futures ended up but
below session highs Wednesday as an extended rally in the dollar
against the euro and continued fears over the euro zone's debt crisis
sapped earlier momentum.
For detailed report on global copper markets, click on [MET/L]
* Copper for July delivery HGN0 ended up 3.85 cents at $3.0805
per lb on the New York Mercantile Exchange's COMEX division.
* Range spanned $3.0530 to $3.1185.
* COMEX estimated final copper futures volume at a light 26,862
lots, down from Tuesday's final count at 45,470 lots.
* Open interest up 148 lots to 128,730 contracts open as of May
25.
* Copper up in relief rally from Tuesday test of key support at
$3.00 per lb - Michael Gross, futures analyst with brokers
Optionsellers.com in Florida.
* Market momentum capped by extended dollar rally versus euro
tied to persistent fears about the impact of European debt crisis on
global recovery - traders.
* Euro also hit by concerns about tighter dollar funding
conditions reflected in 10-month high in three-month dollar interbank
rates and surprisingly lackluster German debt auction.
[ID:nLDE64P0VB] [USD/]
* Sentiment boosted by economic data showing surge in U.S.
durable goods orders and new home sales in April. [ID:nN26186476]
* Japan's output of rolled copper products rose nearly 70 percent
in April from a year ago, reflecting Asian demand remained robust.
[ID:nTOE64P00Z]
* London copper stocks <0#LME-STOCKS> dipped 275 tonnes to
479,050 tonnes on Wednesday, down 76,000 tonnes since they began
declining in mid-February.
* COMEX copper stocks increased 116 short tons to 101,358 short
tons as of Tuesday.
* LME copper for three-months delivery CMCU3 closed at $6,779
per tonne, from a close of $6,730 on Tuesday.
(Reporting by Chris Kelly; Editing by John Picinich)
http://www.reuters.com/article/idUSN2651601220100526
Zinc, Copper, Nickel Advance as Metals Stockpiles Fall: LME Preview
By Chanyaporn Chanjaroen
May 26 (Bloomberg) -- Copper and nickel rose in London as declining inventories of the metals indicated greater demand. All other industrial metals, except tin, also increased.
-- Copper added 1.1 percent to $6,801.50 a metric ton on the
London Metal Exchange at 7:26 a.m. Relative Strength Index 42.7.
-- Aluminum increased 0.6 percent to $2,030 a ton. RSI 41.2.
-- Zinc rose 2.6 percent at $1,903.50 a ton. RSI 36.6.
-- Lead advanced 2.3 percent at $1,787.75 a ton. RSI 33.6.
-- Nickel advanced 1.5 percent to $21,520 a ton. RSI 41.7.
-- Tin slid 0.1 percent at $17,575 a ton. RSI 44.8.
Other markets: Last % Change % YTD
U.S. Dollar Index 86.848 0.1 11.5
Crude oil $69.45 1.0 -12.5
Gold $1,206.35 0.2 10
MSCI World Index 1,050.39 0.2 -10.1
Economic Events:
Forecast Prior Time
(London)
U.S. MBA mortgage applications -- -1.5% 12:00
U.S. durable goods orders 1.3% -1.2% 13:30
U.S. new home sales 425K 411K 15:00
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acA51JZUEjWw
the cork is now Mod. Congratulations the cork ! <<<<This one should take off now that its official!
Zinc .8562 Climbs, Pacing Metals Gain,
as China Drives Stock Advance
By Bloomberg News
May 24 (Bloomberg) -- Zinc climbed for a third day, leading an advance in metals, as Asian stocks increased on speculation Chinese policy makers will rein in efforts to cool the economy.
Three-month delivery zinc on the London Metal Exchange gained as much as 3.2 percent to $1,952 a metric ton and traded at $1,950.50 at 3:17 p.m. in Shanghai. Copper, aluminum and nickel increased as the MSCI Asia Pacific Index reversed losses, driven by the biggest increase in Chinese stocks since October.
Metals also strengthened on speculation the 13 percent slump in the LME index of six industrial metals in the past month overstated the decline in demand from China, the world’s biggest consumer, and from Europe because of the debt crisis.
“Zinc was down more than its peers so the rebound is buying on the dip,” Zhu Yanzhong, an analyst at Jinrui Futures Co., said from Shenzhen. The rally will be “limited,” he said.
Copper was up 0.8 percent at $6,900 a ton, increasing for a third day, aluminum was up 0.6 percent at $2,068 a ton and nickel soared 3.3 percent $22,050 a ton.
China’s importance as an engine of global economic growth is increasing as austerity measures needed to repair public finances in Europe damp spending. Chinese lenders have this year been ordered three times to set aside more funds as reserves. National Development and Reform Commission official Xu Lianzhong, writing in today’s China Securities Journal, urged caution in introducing new curbs.
Standard Chartered Plc today revised its forecast for interest-rate increases in China this year to none, from two, and pushed back its forecast for when yuan appreciation will resume to late in the third quarter.
Inventories of copper monitored by the LME declined for a 13th week to the lowest level since Dec. 21, 2009. Copper for August delivery in Shanghai climbed as much as 3 percent to 55,270 yuan ($8,095) a ton and last traded at 55,230 yuan a ton.
“Metal prices remain vulnerable due to frail sentiment and continue to move in tandem with currencies and equities,” Zeng Chao, an analyst at Everbright Futures Co., said from Shanghai.
Lead added 1.9 percent to $1,845 a ton, and tin gained 0.9 percent to $17,750.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acYkHtHaZQsM
brucegorman and the cork have traded, in moderation.
brucegorman is now an Ass Mod. Congratulations brucegorman !
the cork is now Mod. Congratulations the cork !
The market must like this news, we are up over 9% today over yesterday LoL!
Got some of the cheepies yesterday!
GLTA !!
Zinc up, Copper Heads for 6th Weekly Loss
on Europe Concern: LME Preview
By Chanyaporn Chanjaroen
May 21 (Bloomberg) -- Copper, little changed in London, headed for a sixth consecutive weekly loss as investors remain concerned that Europe’s debt crisis will spread and hurt a global economic recovery.
-- Copper added 0.5 percent to $6,645 a metric ton on the London
Metal Exchange at 7:58 a.m. Relative Strength Index 36.3.
-- Aluminum gained 0.4 percent to $1,999.75 a ton. RSI 36.
-- Zinc increased 0.5 percent at $1,883 a ton. RSI 31.3.
-- Lead advanced 0.9 percent at $1,760 a ton. RSI 28.9.
-- Nickel rose 0.4 percent to $21,275 a ton. RSI 37.7.
-- Tin climbed 0.03 percent at $17,400 a ton. RSI 40.7.
Other markets: Last % Change % YTD
U.S. Dollar Index 85.561 0.0 9.9
Crude oil $70.59 3.8 -11.1
Gold $1,177.95 -0.4 7.4
MSCI World Index 1,064.76 0.1 -8.9
Economic Events:
Forecast Prior Time
(London)
EC PMI services 55.6 55.6 9:00
EC PMI manufacturing 57.4 57.6 9:00
EC PMI composite 57.2 57.3 9:00
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoV3NqKKChxY
I think that's pretty close to right M. I picked up some more at .4182 today. Far as I'm concerned it's money in the bank.
If she does dip into the 30's I'm all over it.
Does anyone think .40 will hold here? (The chart seems to show .40 as a support level).
Thinking of buying some if it can...
Zinc slips, Shanghai copper limit down,
LME copper falls 3 pct
Mon May 17, 2010 1:43am EDT
MANILA, May 17 (Reuters) - Shanghai copper slid 5 percent to its lowest since early February and London copper fell 3 percent to its weakest in nearly two weeks as a stronger dollar pushed investors out of base metals.
The euro hit a four-year low against the U.S. dollar on worries big spending cuts in the euro zone might choke off a fragile recovery in the area. [USD/]
Shanghai's benchmark third month copper SCFc3 fell 2,820 yuan from its Friday settlement to touch its daily downside limit of 53,560 yuan a tonne by 0534 GMT.
Three-month copper on the London Metal Exchange CMCU3 gave up $203 to $6,722 a tonne, off a low of $6,717. (Reporting by Manolo Serapio
http://www.reuters.com/article/hotStocksNews/idUSSGE64G02U20100517
Zinc rises, Copper now 3.1817 Advances
for First Day in Three as Europe Concerns Ease
By Glenys Sim
May 13 (Bloomberg) -- Copper rose for the first time in three days after the U.K. and Spain pledged to cut their budget deficits, easing concern that the debt crisis in Europe will hamper global growth.
Copper for three-month delivery on the London Metal Exchange added as much as 1.3 percent to $7,117.50 a metric ton and traded at $7,075 at 4:15 p.m. in Singapore. August-delivery copper in Shanghai gained 1.4 percent to end the day at 56,740 yuan ($8,309) a ton.
Futures in London have lost 5.1 percent this month, extending a 5.6 percent drop in April, on concern that Greece’s sovereign-debt crisis may be replicated across the region. The metal also tumbled on speculation that China will take more steps to cool its economy after consumer prices in April rose at the fastest pace in 18 months.
“Barring any major shocks, if the situation in Europe is contained, the metals will consolidate at these levels, as most of the bad news has already been priced in,” said Che Hongyun, an analyst at Galaxy Futures Co. “Fundamentals, especially for copper, are quite good and the current peak demand season should keep prices supported.”
Inventories of the metal in Shanghai warehouses fell for the first time in five weeks last week from the highest level since at least 2003. Stockpiles tallied by the London Metal Exchange have declined 5.4 percent since the end of March.
Aluminum gained 1.2 percent to $2,147 a ton, zinc climbed 0.3 percent to $2,107 a ton and lead rose 0.4 percent to $2,054 a ton. Nickel added 0.8 percent to $22,732 a ton and tin was little changed at $17,750 ton by 4:17 p.m. in Singapore.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqwGXZ0ZCkK0
Farallon Director is Recognized by the Canadian Institute of Mining, Metallurgy and Petroleum
Last update: 5/12/2010 9:21:00 AM
VANCOUVER, May 12, 2010 /PRNewswire via COMTEX/ -- Farallon Mining Ltd. ("Farallon" or the "Company") (CA:FAN) is pleased to announce that William E. Stanley, retired P. Eng, and a Director of Farallon, was named to the Fifty - Year Club at the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Annual Awards Gala held on May 10, 2010 at the Vancouver Convention Centre.
The CIM Fifty - Year Club is considered a prestigious honour that recognizes those few select individuals that have dedicated their lives to the Mining Industry and its people.
Bill has had an incredible career in the mining industry, encompassing both international and domestic assignments. A retired partner from Coopers & Lybrand Consulting (presently PricewaterhouseCoopers), he was the Director of Canadian and international mining practice for the firm. A long time active member of industry and community organizations, he is a Past President of the Canadian Institute of Mining and Metallurgy, and in addition to the most recent CIM recognition, he is also a previous recipient of both the CIM Distinguished Service Medal, in recognition of his exceptional service to the industry, and the CIM Distinguished Lecturer Award. Mr. Stanley is a retired adjunct Professor at UBC's Department of Mining Engineering. Mr. Stanley is also the founding Chairman of the Mining Suppliers, Contractors and Consultants Association of BC. He is a former Director of Westmin Resources Limited, Gibraltar Mines Ltd., Kensington Resources Ltd., Luscar Ltd. and Teck Corporation.
Farallon's President and CEO, Dick Whittington, stated "It is extremely gratifying to see Bill receive such well deserved recognition for his years of service, hard work and dedication to the mining industry, we are extremely grateful for his continued contribution to Farallon's Board."
Farallon operates the G-9 zinc mine on its Campo Morado Property in Guerrero State, Mexico. G-9 is a 1,500 tonnes per day, underground, zinc mine with important by-product credits of copper, gold, silver, and lead.
For further details on Farallon Mining Ltd., please visit the Company's website at or contact Neil MacRae, Investor Relations Manager, at (604) 638-2160 or within North America at 1-877-688-2050.
ON BEHALF OF THE BOARD OF DIRECTORS J.R.H. (Dick) Whittington President & CEO
No regulatory authority has approved or disapproved the information contained in this news release
SOURCE Farallon Mining Ltd.
Copyright (C) 2010 PR Newswire. All rights reserved
http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={90B57EE9-CD8A-48D8-B6AF-A411EFB6C6EB}
Zinc declines, Copper 3.1706 Falls
in Asia on Dollar, Slowing China Industrial Growth
By Bloomberg News
May 11 (Bloomberg) -- Copper declined in Asia as a stronger dollar reduced the investment appeal of commodities priced in the currency and industrial production growth in China slowed. Aluminum, lead and zinc also dropped.
Three-month delivery copper on the London Metal Exchange fell as much as 1.9 percent to $6,986 a ton before trading at $6,995 a ton at 3:05 p.m. in Shanghai as the dollar rose for the first time in three days. The metal jumped 2.5 percent yesterday after Europe agreed a 750 billion ($955 billion) loan package to support indebted states and shore up the euro.
“The dollar recouped its losses as the euro will remain weak due to the region’s uncertainties,” Zhang Hao, an analyst at Citic Newedge Futures Co. said from Shanghai. “This places downward pressure on metals markets.”
The dollar rebounded against six major currencies after falling as much as 1.8 percent yesterday. The Reuters/Jefferies CRB Index of 19 raw materials climbed 1.5 percent yesterday, having slumped 5.9 percent last week, the biggest weekly slide since Dec. 5, 2008, on concern that sovereign debt risks in Europe may slow the region’s economic recovery.
Industrial production last month in China, the world’s biggest metals user, expanded 17.8 percent from a year earlier, down from 18.1 percent in March, according to a government report today. An increase of 18.5 percent was expected, based on the median estimate of 28 economists surveyed by Bloomberg. Urban fixed-asset investment climbed 26.1 percent in the first four months from the same period in 2009, the report said.
Equities Decline
Metals extended declines as China’s benchmark equity index entered a bear market for a second day on concern the government will raise borrowing costs to combat inflation and unveil more measures to curb housing prices. China’s property curbs failed to prevent prices from surging by a record last month, data from the National Bureau of Statistics showed today.
“China’s credit tightening and investors’ risk aversion will together strangle any rebound in copper,” Liu Zhuang, an analyst at Haitong Futures Co., said from Shanghai.
Spot copper in Shanghai didn’t track a plunge in futures, resulting in the cash price trading at a premium and indicating that the “sentiment-led” price slump was probably overdone, Shi Wenzhu, an analyst at Great Wall Futures Co., said.
“We don’t usually read too much into these macro data,” Shi said from Shanghai. “The spot market’s reaction usually provides a more accurate gauge of fundamentals and sentiment.”
Copper for August delivery in Shanghai fell as much as 2.2 percent to 55,420 yuan ($8,116) a ton and last traded at 55,720 yuan. The futures have tumbled 12 percent in the past month while copper for immediate delivery in Shanghai has declined 8.8 percent in the same period.
Aluminum in London fell 1.9 percent to $2,106.50 a ton, zinc declined 2.1 percent to $2,095 a ton, and lead decreased 1.9 percent to $2,068 a ton. Nickel retreated 2 percent to $22,547 a ton and tin was unchanged at $17,750 a ton.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a82M1OHOG5zI
Zinc advances, Copper Climbs on
European Plan to Contain Sovereign-Debt Crisis
By Anna Stablum
May 10 (Bloomberg) -- Copper rose the most in six weeks in New York after European policy makers unveiled a plan for containing a sovereign-debt crisis that threatened to derail the region’s economic rebound.
The 16 euro nations will offer as much as 750 billion euros ($962 billion), including International Monetary Fund backing, to lend to countries facing instability. The European Central Bank will buy government and private debt. Copper also gained as imports of metal into China increased from a year earlier and the dollar weakened.
“People are relieved” by the proposal to aid sovereign debtors, Mark Heyhoe, a Hanson Westhouse Ltd. analyst in London, said by telephone. “The Chinese import figures are up on last year, so growth is still there.”
Futures for July delivery gained 9 cents, or 2.9 percent, to $3.2345 a pound at 8:19 a.m. on the Comex in New York. The most-active contract climbed as much as 3.9 percent, the most since March 29. Copper for delivery in three months rose 2.8 percent to $7,140 a metric ton on the London Metal Exchange.
All of the six main metals traded on the LME advanced as nickel rebounded after last week falling the most since October 2008. The Standard & Poor’s GSCI Index of raw materials gained as much as 3.7 percent after last week’s 8.4 percent slide. The drop represents a “buying opportunity,” and copper is “particularly attractive,” Goldman Sachs Group Inc. said.
‘Overdone’ Retreat
“We think the selloff was overdone,” Heyhoe said. “In the medium to longer term, we are very positive on base metals, particularly copper.”
Raw materials had retreated on concern Greece’s fiscal crisis might spread to other indebted euro-zone nations, potentially endangering economies and curbing consumption of commodities. Europe consumes 20 percent of global copper output and 15 percent to 25 percent of aluminum, zinc, nickel and lead production, according to Barclays Capital.
Prices also climbed today as the dollar weakened for a second day, making metals priced in the currency cheaper in terms of other monies. The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, dropped as much as 1.8 percent, the most in a year in intraday terms.
Imports of copper and products into China, the world’s biggest consumer, were 436,345 tons in April, the Beijing-based customs office said today. That was 4.4 percent below March’s 456,240 tons and 9 percent more than the year-earlier 399,830 tons, according to Bloomberg data.
Supply Limits
“The import numbers are very impressive,” David Thurtell, a Citigroup Inc. analyst in London, said by phone. “It just underscores that there is a huge dichotomy between the economic backdrop, especially in China, and financial markets.”
Inventories of copper tracked by the LME fell for a 10th day today, slipping 0.3 percent to 489,300 tons, the lowest level since Dec. 29. Stockpiles dropped in March and April. Bookings to remove metal from warehouses slid for a ninth day, declining 5 percent to 17,150 tons.
Copper stockpiles in Shanghai fell 8,301 tons to 181,140 tons last week, according to data from the bourse on May 7.
Nickel for three-month delivery on the LME rose as much as 4.9 percent to $23,650 a ton. The metal, used mostly in stainless steel, was last up 2.4 percent at $23,091.
Lead gained 3.1 percent to $2,114 a ton. Stockpiles in LME- monitored warehouses slipped to 182,950 tons after five increases in a row that lifted inventories on May 7 to the highest since April 2003.
Demand for Lead
“The market is clearly still in surplus,” Neil Hawkes, an analyst at London-based researcher CRU, said by phone. “Demand is certainly recovering, as it is in most other metals, but not to the extent that it is going to push the market into deficit this year.”
Three-month lead will average $2,250 a ton this year, according to Hawkes. That compares with $2,240.50 so far in 2010, data compiled by Bloomberg shows.
Aluminum climbed 3.2 percent to $2,138 a ton after last week’s 8.1 percent retreat, the biggest since the week ended Jan. 23, 2009. Zinc advanced 3 percent to $2,153 a ton and tin rose 2 percent to $17,950 a ton.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aCnOrQMlCPSk
Copper 3.1344 down nearly 2 pct, nickel slides from early gains
Thu May 6, 2010 3:33am EDT
SHANGHAI, May 6 (Reuters) - London copper futures fell
nearly 2 percent, reversing an earlier 1.8-percent gain,
weighed down by a slide in the euro to its lowest in more than
a year on growing worries about the euro zone debt.
Three-month copper futures on the London Metal Exchange
CMCU3 fell to as low as $6,825 a tonne.
Nickel turned a 4.5-percent rise into a 6.7-percent fall to
$20,450 a tonne, adding to its 11-percent loss in the previous
session, as worries about the Greek debt threat spread.
http://www.reuters.com/article/hotStocksNews/idUSTOE64400920100506
Conference Call to Be Held On May 13, 2010
May 5, 2010, Vancouver, BC – Farallon Mining will release its First Quarter
results before the market opens on Wednesday May 12, 2010. A conference call and
webcast will be held by management on Thursday May 13, 2010 at 8:00 AM Pacific
Time (11:00 AM Eastern Time) to further discuss the results.
The conference call can be accessed by telephone at the following numbers
(647)427-7450 or the toll-free number (888)231-8191.
A live webcast will also be available at www.farallonmining.com or at the
following webcast location: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3040400.
The replay of the conference call will be on the website after the call is
completed.
Farallon operates the G-9 zinc mine on its Campo Morado Property in Guerrero
State, Mexico. G-9 is a 1,500 tonnes per day, underground, zinc mine with
important by-product credits of copper, gold, silver, and lead. The Company is
targeting to produce at an annualized production rate of 120 million pounds of
zinc and 15 million pounds of copper per year.
To view this news release in its entirety, please click on the link below or
copy and past it into your web browser.
http://www.farallonmining.com/fan/NewsReleases.asp?ReportID=398043
For further details on Farallon Mining Ltd., please visit the Company’s website
at www.farallonmining.com or contact Neil MacRae, Investor Relations Manager, at
(604) 638-2160 or within North America at 1-877-688-2050.
Best Regards,
Investor Services
Hunter Dickinson
Toll Free 1-800-667-2114 | Main 1-604-684-6365
info@hdgold.com | www.hdgold.com
Zinc .9098 Gold 1167.10 Silver 17.30 Copper 3.0326 Lead .8501
Sorry for delay, IHUB servers been "busy" this morning.
Zinc dips, Copper Falls to
7-Week Low on China Manufacturing: LME Preview
By Chanyaporn Chanjaroen
May 4 (Bloomberg) -- Copper declined to the lowest in seven weeks in London after an HSBC Holdings Plc report showed manufacturing in China, the world’s top consumer of industrial metals, fell to a six-month low, indicating that government efforts to cool its economy may be starting to take effect.
-- Copper fell 1.9 percent to $7,292 a metric ton on the London
Metal Exchange at 7:17 a.m. Relative Strength Index 36.3.
-- Aluminum lost 2 percent to $2,211 a ton. RSI 41.1.
-- Zinc declined 0.6 percent at $2,271 a ton. RSI 41.
-- Lead dropped 1.5 percent at $2,197.25 a ton. RSI 43.
-- Nickel retreated 0.8 percent to $26,100 a ton. RSI 56.9.
-- Tin gave up 0.3 percent at $18,199 a ton. RSI 46.1.
Other markets: Last % Change % YTD
U.S. Dollar Index 82.485 0.3 5.9
Crude oil $85.78 -0.5 8.1
Gold $1,180.05 -0.2 7.6
MSCI World Index 1,201.37 -0.1 2.8
Economic Events:
Forecast Prior Time
(London)
Euro zone PPI 0.7% 0.1% 10:00
U.S. factory orders -0.1% 0.6% 15:00
U.S. pending home sales 5.0% 8.2% 15:00
ABC consumer confidence -- -49 22:00
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_ehxIXxbe0A
Copper currently at 333.97, Slumps
to Seven-Week Low on Concern China Demand Slowing
By Glenys Sim
May 3 (Bloomberg) -- Copper dropped to a seven-week low after China ordered banks to set aside more deposits as reserves for the third time this year, fueling concern that the lending curbs may damp demand in the world’s biggest metals consumer.
July-delivery material on the Comex in New York fell 1.5 percent to $3.305 a pound, the lowest price since March 15, and traded at $3.3135 at 6:02 p.m. in Singapore. Markets in London and Shanghai are closed today.
“The commodities that are relating to Chinese growth, I would avoid for the time being,” said investor Marc Faber, the publisher of the Gloom, Boom & Doom report. “The symptoms of a major bubble are all there.”
Futures also declined after Shanghai copper stockpiles increased 0.8 percent to 189,441 tons last week, the highest level since at least 2003, and as the dollar advanced 0.4 percent against a basket of six currencies, reducing the appeal of commodities as alternative investments.
The Dollar Index rose as much as 0.5 percent, its first gain in three days, on concern the 110 billion euro ($146 billion) rescue package for Greece will fail to win support from some of the region’s governments. EU leaders are scheduled to meet on May 7 to discuss the timeline of parliamentary approval.
The current rescue plan for Greece is only “postponing the problem” and the country needs to write off some of its debt, Faber said in a Bloomberg Television interview today. “If you look at Greece like a corporation, it’s bust.”
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZrlINzJErhY
Zinc up 1.2%, Copper Advances in New York, London Trading on Dollar, Greece
By Anna Stablum
April 30 (Bloomberg) -- Copper advanced in New York and London as the dollar weakened and on signs the Greek debt crisis may be easing.
The U.S. Dollar Index, a measure against six counterparts, fell as much as 0.4 percent, making dollar-denominated assets cheaper for those holding other monies. European Commission President Jose Barroso said he is confident a rescue package for Greece will be completed “in days.” Europe accounts for about 20 percent of global copper demand, Barclays Capital estimates.
“Metals are up modestly as the euro rises against the dollar on apparent relief over Greece,” David Thurtell, a Citigroup Inc. analyst in London, said by phone.
Futures for July delivery gained 1.7 cents, or 0.5 percent, to $3.3675 a pound on the Comex in New York at 8:26 a.m. Futures fell 4.6 percent this week and 5.2 percent this month. Copper for delivery in three months rose 0.8 percent to $7,414 a metric ton on the London Metal Exchange.
Copper stockpiles monitored by the Shanghai Futures Exchange rose for a fourth week, to the highest since at least 2003. Inventory tracked by the LME fell for a fifth day, down 0.7 percent to 499,300 tons, the lowest level since Dec. 30.
Copper futures outstanding, or market open interest, reported by LME members and compiled by the exchange, have dropped 3.6 percent since this year’s peak on April 16. There were 424,762 contracts outstanding as of April 28, the latest data show.
The drop in open interest was “not surprising given the heightened risk over that timeframe, with risk aversion drawing money out of the market,” Daniel Brebner, an analyst at Deutsche Bank AG in London, said by phone.
Open Interest
Open interest in copper could rise again “in the near- term, if the Greek bail-out is sufficient,” Brebner said. “Then the market might get more comfortable with the potential for some stability and risk appetite could return.”
Nickel for three-month delivery on the LME gained 2 percent to $25,900 a ton. Prices rose 41 percent this year, the most among the six main metals traded on the exchange.
Tin dropped 0.1 percent to $18,140 a ton. LME-monitored stockpiles dropped for a fifth consecutive week, down 4.9 percent to 21,135 tons. One party holds 50 percent to 79 percent of the LME inventories, LME data from April 28 show.
On the futures market, one holder accounts for at least 40 percent of short positions, or bets on lower prices, expiring in May, the latest LME data from April 28 show. The biggest bet on a price gain expiring in the same month accounted for 30 percent to 39 percent of the total.
Zinc added 1.2 percent to $2,294 a ton. Refined zinc production will rise 10 percent to 12.46 million tons this year, outpacing consumption of 12.05 million tons, according to data from the International Lead and Zinc Study Group.
Aluminum rose 0.6 percent to $2,213 a ton. EN+ Group Ltd. said 200 workers are on strike at its KAP aluminum smelter in Montenegro. Lead fell 0.6 percent to $2,216.25 a ton.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agzVKcZqIg58
Zinc gains, Copper May rise
in London as Dollar Weakens, Fed Says Rates to Stay Low
By Anna Stablum - Apr 29, 2010
Copper may rise in New York and London as a weaker dollar bolsters demand and record-low U.S. interest rates spur economic growth.
The Federal Open Market Committee said yesterday it would keep the benchmark rate near zero for an “extended period.” The U.S. Dollar Index, a gauge against six counterparts, fell as much as 0.6 percent, the first decline in four days and making dollar-priced metals cheaper to holders of other currencies.
“Rates aren’t going to be rising and that is positive,” said Robin Bhar, an analyst at Credit Agricole CIB in London. “It confirms as the economy stabilizes, and as it continues to recover, the Fed will do all it can to accommodate that and will maintain pro-growth policies.”
Futures for July delivery fell 0.55 cents, or 0.2 percent, to $3.381 a pound at 8:05 a.m. on the Comex in New York. The most-active contract reached $3.344 yesterday, the lowest since March 26. Copper for delivery in three months rose 0.6 percent to $7,444 a metric ton at on the London Metal Exchange.
LME copper fell 4.1 percent this week on concern that a debt crisis in Greece may stall the region’s economic recovery.
German Chancellor Angela Merkel and the International Monetary Fund pledged yesterday to increase efforts to overcome the Greek debt crisis.
Europe consumes 20 percent of the world’s copper output, and 15 percent to 25 percent of the other main LME-traded metals, other than tin, according to Barclays Capital.
European confidence in the economic outlook improved to the highest in more than two years and German unemployment plunged amid signs the euro-area recovery is strengthening.
Copper Stockpiles
Copper stockpiles tracked by the LME fell for a fourth day, down 0.3 percent to 502,550 tons, the lowest level since Jan. 4.
Nickel for three-month delivery on the LME gained 0.4 percent to $25,764 a ton. Prices have gained 39 percent this year, the most among the six main metals traded on the exchange.
Lead climbed 1 percent to $2,258.50 a ton and zinc rose 0.4 percent to $2,339 a ton. Lead supply will reach 9.41 million tons this year, compared with demand of 9.3 million tons, the International Lead and Zinc Study Group said. Zinc production will be 12.46 million tons and consumption 12.05 million tons, the group said.
Aluminum rose 1.4 percent to $2,221 a ton and tin gained 3.3 percent to $18,600 a ton.
http://preview.bloomberg.com/news/2010-04-29/copper-may-advance-in-london-as-dollar-weakens-fed-says-rates-to-stay-low.html
Zinc drops, Copper Falls
to One-Month Low on Recovery Concerns: LME Preview
By Chanyaporn Chanjaroen
April 28 (Bloomberg) -- Copper fell to a one-month low in London after credit-rating downgrades of Greece and Portugal fuelled concern that sovereign defaults may slow the global economic recovery. Aluminum and other industrial metals declined.
-- Copper fell 0.7 percent to $7,435 a metric ton on the London
Metal Exchange at 7:35 a.m. Relative Strength Index 39.5.
-- Aluminum slid 0.7 percent to $2,135 a ton. RSI 31.8.
-- Zinc dropped 0.7 percent at $2,344 a ton. RSI 46.36.
-- Lead declined 1.3 percent at $2,270 a ton. RSI 49.5.
-- Nickel lost 1.2 percent to $25,625 a ton. RSI 53.8.
-- Tin retreated 2.4 percent at $18,100 a ton. RSI 43.7.
Other markets: Last % Change % YTD
U.S. Dollar Index 82.161 0.02 5.5
Crude oil $82.32 -0.2 3.7
Gold $1,165.18 -0.2 6.2
MSCI World Index 1,196.38 -0.5 2.4
Economic Events:
Forecast Prior Time
(London)
U.S. MBA Mortgage Applications -- 13.6% 12:00
FOMC Rate Decision 0.25% 0.25% 19:15
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqofA5SEmA.E
Zinc dips, Copper at 1-wk low
as Greek debt issues weigh
Tue Apr 27, 2010 8:35am EDT
By Michael Taylor
LONDON, April 27 (Reuters) - Copper hit a one week low on Tuesday as the dollar firmed and investors remained cautious about a rescue package for debt-ladden Greece, but signs of improving demand helped cap losses.
Benchmark copper for three month delivery CMCU3 on the London Metal Exchange traded at $7,695 a tonne from $7,810 at the close on Monday and compared with a session low at $7,639.75.
"Greece again, the euro is down," said Nick Moore, global head of commodity strategy at RBS Global Banking & Markets. "Euro weakness is a concern for the commodity complex and it's a risk-off day."
"Outside of Greece, prices are due to head lower as we come into seasonal weakness and people factor in the supply response," he added.
The euro slipped against the dollar as investors sought clarity about talks on financial aid for Greece, while worries over credit risk in other countries led investors to dump the single currency. [USD/] [ID:nLDE63P0LU]
A firm U.S. currency makes metals priced in dollars more expensive for holders of other currencies.
On Monday, copper, used in power and construction, hit a one week high at $7,865 a tonne as a recent flurry of upbeat U.S. macro data boosted the demand outlook. [ID:nN23173134]
Boosting sentiment on Tuesday, Japan's output of rolled copper products rose to 71,418 tonnes in March on a seasonally adjusted basis, up 120.4 percent from a year earlier, marking the biggest ever annual increase and the fifth straight month of year-on-year rises. [ID:nTOE63P05X]
Offering possible market direction later, traders will eye U.S. retail and consumer data ahead of the Federal Reserve's two-day policy meeting. <MI/DIARY> nFEDAHEAD
CHINA IN SIGHTS
Analysts said moves to cool the booming housing market in China were also a concern for investors. [ID:nBJC002555] "The Chinese building programme is still very much underway and the economy is running fairly strongly," said Steve Hardcastle, analyst at Sucden. "There are dangers of inflation and that's the reason the authorities are taking small steps to take the heat out of the situation."
Falls in LME inventories are also being closely watched for signs of an uptick in demand. Copper stocks dipped 775 tonnes to 505,350 tonnes, having hit 555,075 on Feb. 17 -- their highest level since October 2003.
Aluminium CMAL3 traded at four week lows at $2,290 a tonne in LME rings versus $2,315. LME stocks for the metal, used in transport and packaging, fell 6,175 tonnes to remain near record levels at 4.55 million tonnes.
A large portion of those aluminium stocks are tied up in financial deals to release cash for producers and to earn banks higher returns than they would get in money markets. [ID:nGEE5BA277]
Also buoying sentiment in recent weeks has been a rise in cancelled warrants -- material already earmarked for delivery -- on stocks in LME warehouses.
On Monday, copper cancelled warrants were at 30,400 tonnes from 19,850 tonnes on March 26.
"Copper socks are going down and cancelled warrants numbers in the Far East are going up," said Sucden's Hardcastle. "It looks like we could be seeing fairly substantial April (Chinese) import figures ... whether that's going for consumption is a moot point."
For details on Chinese copper imports for March, see [ID:nTOE63K02M]
Steel making ingredient nickel CMNI3 was untraded in exchange rings but last bid at $26,775 from $27,155, after earlier hitting a one week low at $26,575, while battery material lead CMPB3 traded at $2,324 from $2,350.
For a story on Chinese nickel pig iron, see [ID:nTOE63Q084]
Zinc CMZN3 traded at $2,410 a tonne in LME rings from $2,441 and tin CMSN3 was at $18,945 from $19,145.
Metal Prices at 1214 GMT Metal Last Change Pct Move End 2009 Ytd Pct
move COMEX Cu 352.70 0.00 +0.00 332.75 6.00 LME Alum 2280.00 -35.00 -1.51 2230.00 2.24 LME Cu 7647.00 -163.00 -2.09 7375.00 3.69 LME Lead 2311.00 -39.00 -1.66 2432.00 -4.98 LME Nickel 26700.00 -455.00 -1.68 18525.00 44.13 LME Tin 18825.00 -320.00 -1.67 16950.00 11.06 LME Zinc 2400.00 -41.00 -1.68 2560.00 -6.25 SHFE Alu 16445.00 -165.00 -0.99 17160.00 -4.17 SHFE Cu* 60530.00 -920.00 -1.50 59900.00 1.05 SHFE Zin 18910.00 -275.00 -1.43 21195.00 -10.78 ** 1st contract month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07
http://www.reuters.com/article/idUSLDE63Q17U20100427
Copper 3.5240 Advances
on Easing Concern About Greek Debt: LME Preview
By Chanyaporn Chanjaroen
April 26 (Bloomberg) -- Copper rose in London as Greece moved toward securing an emergency aid package, easing investors’ concern about the nation’s debt.
-- Copper rose 1.2 percent to $7,845 a metric ton on the London
Metal Exchange at 7:45 a.m. Relative Strength Index 56.
-- Aluminum gained 0.7 percent to $2,351 a ton. RSI 53.
-- Zinc added 1.3 percent at $2,437.25 a ton. RSI 55.
-- Lead advanced 1.1 percent at $2,326 a ton. RSI 56.
-- Nickel climbed 1 percent to $27,325 a ton. RSI 74.
-- Tin was 0.3 percent higher at $19,049 a ton. RSI 64.
Other markets: Last % Change % YTD
U.S. Dollar Index 81.465 0.1 4.6
Crude oil $85.28 0.2 7.5
Gold $1,158.68 0.1 5.6
MSCI World Index 1,229.05 0.3 5.2
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQ8rWmNaeRS8
Copper 3.4694 - steady
as euro recovers, Greece asks for aid
Fri Apr 23, 2010 8:53am EDT
By Michael Taylor
LONDON, April 23 (Reuters) - Copper traded steady on Friday
as the euro bounced back from losses against the dollar on news
that debt-ladden Greece has asked for financial aid, while
upbeat economic data boosted the demand outlook.
Benchmark copper for three month delivery CMCU3 on the
London Metal Exchange was untraded in rings but last bid at
$7,695 a tonne from $7,692 on Thursday and compared with a
session high at $7,759.
The euro edged up against the dollar, lifting off a one-year
low, as Greece sought to trigger a package of emergency
financial aid and eased concerns about its short-term funding
needs. [MKTS/GLOB] [ID:nLDE63M0XZ] [USD/]
"Up and down like a yo-yo -- tracking currency moves
really," said David Thurtell, a strategist at Citigroup. "The
Greek debt should be contained. I'm optimistic that once this
Greek issue is resolved, the markets can focus on the pure
fundamentals again."
A weaker U.S. currency makes metals priced in dollars less
expensive for holders of other currencies.
Also supporting the demand outlook, German business
sentiment rose much more than expected, while Euro zone
industrial new orders jumped. [ID:nLDE63M0M0] [ID:nBEB004451]
This followed upbeat data on Thursday that showed the number
of U.S. workers filing new claims for jobless aid fell last week
while producer price data showed inflation is muted.
CHINA CRUCIAL
Improving macro data, as well as a weaker dollar and fund
and Chinese buying, helped copper surge 140 percent last year.
Earlier this month, the metal used in power and construction
touched $8,043.75, its highest since August 2008, but has since
continued to meet stiff resistance near the $8,000 level.
Holding back momentum however, is a fear that China, the
world's top consumer of base metals, may be oversupplied with
copper after imports of the metal in March jumped more than 50
percent to 337,125 tonnes. [ID:nTOE63K02M]
"Although Chinese base metal demand was strong in Q1, it is
unlikely that there has been significant erosion of the large
accumulated metal stockpiles," Royal Bank of Scotland said in a
research report.
"We still expect Chinese base metal imports to be
significantly lower in 2010 with growing domestic demand fed by
off-market stocks of metal."
Often a demand indicator, copper stocks rose 25 tonnes to
507,150 tonnes, but were down from peaks of 555,075 hit on Feb.
17 that had previously not been seen since October 2003.
Aluminium CMAL3 traded at $2,297 in LME rings versus
$2,320. LME stocks for the metal, used in transport and
packaging, slipped 5,900 tonnes to 4.57 million tonnes,
remaining near record levels
A large portion of those aluminium stocks are tied up in
finance deals, to release cash for producers and to earn banks
higher returns than they would get in money markets.
[ID:nGEE5BA277]
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a graphic showing the technical outlook, click:
here
For graphics on metal stocks, see:
here
here
here
here
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> Nickel CMNI3 traded at $26,700 from $27,095 and battery
material lead CMPB3 was at $2,279 from $2,310.
Base metals traders have been focusing on dominant positions
within the smaller LME metal markets, especially nickel.
Analysts say a dominant position of all short positions in
nickel due this month, may be behind nickel's gains of around 7
percent this month and is likely to lend further support to
prices in the coming days. <LME/FB3>
"Nickel continues to bob around in a manner that underlines
the uneasy feeling that we are about to experience a shift of
seismic proportion very soon," RBC Capital Markets said in a
note.
Zinc CMZN3 was untraded in LME rings but last bid at
$2,395 a tonne in LME rings from $2,418 and tin CMSN3 was
traded at $19,000 from $18,950.
Metal Prices at 1242 GMT
Metal Last Change Pct Move End 2009 Ytd Pct
move
COMEX Cu 348.50 0.05 +0.01 332.75 4.73
LME Alum 2300.00 -20.00 -0.86 2230.00 3.14
LME Cu 7692.00 0.00 +0.00 7375.00 4.30
LME Lead 2282.00 -28.00 -1.21 2432.00 -6.17
LME Nickel 26600.00 -495.00 -1.83 18525.00 43.59
LME Tin 18900.00 -50.00 -0.26 16950.00 11.50
LME Zinc 2386.00 -32.00 -1.32 2560.00 -6.80
SHFE Alu 16550.00 -70.00 -0.42 17160.00 -3.55
SHFE Cu* 60600.00 -60.00 -0.10 59900.00 1.17
SHFE Zin 18990.00 60.00 +0.32 21195.00 -10.40
** 1st contract month for COMEX copper
* 3rd contract month for SHFE AL, CU and ZN
SHFE ZN began trading on 26/3/07
http://www.reuters.com/article/idUSLDE63M12X20100423
Farallon Announces Internet Defamation Case Award
$425,000 Awarded by the Supreme Court of B.C.
(Special thanks to Bobwins)
April 22, 2010, Vancouver, BC – Dick Whittington, President and CEO of Farallon Mining Ltd. (“Farallon” or the “Company”) (TSX:FAN) is pleased to announce that on March 30th , 2010, Farallon Mining Ltd., Farallon’s Chairman Ronald Thiessen and Hunter Dickinson Inc., were awarded a total of $425,000 in a defamation case brought by the Company against Mr. Robert Butler.
Farallon Mining, on behalf of all the Plaintiffs, filed a lawsuit against Mr. Butler on October 5th, 2004 for posting various defamatory statements on the website at www.stockhouse.com. On March 30th, 2010, the Honourable Madam Justice Wedge of the Supreme Court of British Columbia awarded each of the Plaintiffs general and punitive damages, while Mr. Thiessen was also awarded aggravated damages. The total damages awarded against Mr. Butler are $425,000. Madam Justice Wedge also awarded costs against Mr. Butler, as well as ordering a permanent injunction against him, restraining him from publishing any further defamatory statements against the Plaintiffs. The Plaintiffs intend to vigorously pursue enforcement of the Order against Mr. Butler to the full extent permitted under the law…
To view this news release in its entirety, please click on the link below or copy and past it into your web browser.
http://www.farallonmining.com/fan/NewsReleases.asp?ReportID=396055
For further details on Farallon Mining Ltd., please visit the Company’s website at www.farallonmining.com or contact Neil MacRae, Investor Relations Manager, at (604) 638-2160 or within North America at 1-877-688-2050.
Best Regards,
Investor Services
Hunter Dickinson
Toll Free 1-800-667-2114 | Main 1-604-684-6365
info@hdgold.com | www.hdgold.com
Zinc slips, Copper dips as China
monetary tightening eyed
Thu Apr 22, 2010 8:40am EDT
By Michael Taylor
LONDON, April 22 (Reuters) - Copper fell on Thursday, weighed by a strong dollar and persistent worries of further monetary tightening from China, the world's top metals consumer.
Benchmark copper for three month delivery CMCU3 on the London Metal Exchange traded at $7,700 a tonne from $7,760 at the close on Wednesday.
Earlier this month, copper, used in power and construction, touched $8,043.75, its highest since August 2008 but has struggled to break through the $8,000 level since.
"The momentum petered out a week or so ago when it didn't maintain a push through $8,000, so it is drifting looking for another direction," said David Wilson, director of metals research at Societe Generale.
The market appears worried that China may be oversupplied with copper after imports in March jumped by more than 50 percent to 337,125 tonnes. [ID:nTOE63K02M]
"It was initially seen as bullish but is now being seen as China having far too much copper," said Wilson. "Add onto that the continued conveyer belt of news on tightening in China ... is concerning a few people out there in the copper market."
Last week China raised mortgage rates and down payment requirements to cool growth in the property sector, a major user of copper pipes and wiring. [ID:nTOE63E08N]
Analysts added that continued concerns on Greek debt and any wider impact from a lawsuit against Goldman Sachs were seen as keeping risk seekers at bay. [ID:nN19193616] [ID:nLDE63L0JV]
The euro fell, while the dollar broadly rose after data showing Greece's budget deficit was worse than previously thought highlighted the market's hunger for a speedy resolution to its debt crisis. [USD/]
A firmer dollar makes metals priced in the U.S. unit more expensive for holders of other currencies.
"We had this mini-deflation last Friday when the Goldman news broke but since then the market has been nervously looking around for other news," said Herwig Schmidt, head of sales at Triland Metals. "We had extreme dollar firmness yesterday ... on the other hand we still have firm buying from China."
WAREHOUSE MOVEMENTS
Falls in LME warehouse stocks have also been watched in recent weeks for signs of an uptick in demand, but this has slowed.
Copper stocks fell 675 tonnes to 507,125 tonnes, down from 555,075 hit on Feb. 17 -- their highest point since October 2003.
Aluminium CMAL3 was untraded in LME rings but last bid at $2,320 versus $2,351. LME stocks for the metal, used in transport and packaging, gained 2,325 tonnes to remain near record highs at 4.57 million tonnes.
A large portion of those aluminium stocks are tied up in financial deals, to release cash for producers and to earn banks higher returns than they would get in money markets. [ID:nGEE5BA277]
Steel making ingredient nickel CMNI3 traded at $27,080 in LME rings from $26,975 while battery material lead CMPB3 was untraded but last bid at $2,304 from $2,320.
Chatter among metals traders is focussing on dominant positions within the smaller LME metal markets, especially nickel.
"A single market player held over 40 percent of all short positions in nickel due this month at the end of last week," Commerzbank said in a note. "In view of the recent rise in prices, this investor may probably have been forced to buy back these positions to avoid further losses."
"This was probably a contributing factor in the sharp rally of nickel prices and is likely to lend further support to prices in the coming days too."
For the latest LME data on nickel positions, click <LME/FB3>
Zinc CMZN3 traded at $2,420.50 a tonne in exchange rings from $2,425 and tin CMSN3 was at $18,930 from a quoted price at $19,000/$19,050.
Metal Prices at 1218 GMT Metal Last Change Pct Move End 2009 Ytd Pct
move COMEX Cu 353.30 0.00 +0.00 332.75 6.18 LME Alum 2314.00 -37.00 -1.57 2230.00 3.77 LME Cu 7690.00 -70.00 -0.90 7375.00 4.27 LME Lead 2290.00 -30.00 -1.29 2432.00 -5.84 LME Nickel 26940.00 -35.00 -0.13 18525.00 45.43 LME Tin 18825.00 -425.00 -2.21 16950.00 11.06 LME Zinc 2414.00 -11.00 -0.45 2560.00 -5.70 SHFE Alu 16620.00 -70.00 -0.42 17160.00 -3.15 SHFE Cu* 60660.00 -270.00 -0.44 59900.00 1.27 SHFE Zin 18930.00 -100.00 -0.53 21195.00 -10.69 ** 1st contract month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07
http://www.reuters.com/article/idUSLDE63L14R20100422
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