Jul
22
London –Flat products prices in most of Europe have slipped slightly from a peak in June according to MEPS, the UK-based steel consultancy. This in spite of third quarter contract values in Scandinavia being higher than spot figures in mainland Europe. Flat products prices have been supported by a stronger than average economic recovery in [...]
Jul
6
METALS-Shanghai copper seen higher; LME eases.
July 6, 2010 | Leave a Comment
SINGAPORE July 7 – Shanghai copper was seen opening higher on Wednesday, while London futures dipped, paring the previous session’s rally of 2 percent as a run on the dollar to a six-week low slowed. FUNDAMENTALS * Three-month copper on the London Metal Exchange CMCU3 fell $34 to $6,570 by 0034 GMT. When Shanghai closed [...]
Jul
1
Expensive copper helps some SA firms…
July 1, 2010 | Leave a Comment
THE high copper price and its subsequent positive effects on related industries have assisted some South African companies to emerge from hard times. Bell Equipment , which posted a net loss of R372m for the financial year to March , said the increase in the copper price, and the resultant surge in mining, meant a [...]
Jun
29
Copper Rises for Third Day on Expectations U.S. Spending Will Show Growth..
June 29, 2010 | Leave a Comment
Copper rose for a third day in London after a U.S. report on personal spending signaled improved growth, boosting demand for industrial metals. Consumer spending in the U.S. rose in May more than forecast, a sign households are gaining confidence in the recovery and the job market. Purchases rose 0.2 percent after little change the [...]
Jun
29
SHANGHAI June 29 – Shanghai copper is expected to open steady on Tuesday, as concerns over the pace and scale of economic recovery weigh after mixed U.S. economic data were released. FUNDAMENTALS * Three-month copper on the London Metal Exchange CMCU3 fell $59 to $6,810 by 0026 GMT on Tuesday, paring some gains in the [...]
Jun
18
SHANGHAI June 18 – Shanghai copper fell in early trade on Friday, after London copper prices touched a one-week low in the previous session, as sentiment soured after disappointing U.S. data. FUNDAMENTALS * Three-month copper on the London Metal Exchange CMCU3 rose $4 to $6,450 by 0132 GMT on Friday, hovering above a one-week low [...]
Jun
2
* Brazil’s Gerdau seeks full ownership of subsidiary * Gerdau offers $11 a share for rest of Gerdau Ameristeel * Gerdau to pay for takeover with cash, loans * Gerdau Ameristeel shares surge 54 percent (Adds share performance, analysts’ comments, byline) By Elzio Barreto and Guillermo Parra-Bernal SAO PAULO, June 2 – Brazilian steelmaker Gerdau [...]
Mar
25
Copper prices were steady today as investors weighed signs of economic recovery against a stronger dollar worries over debt problems in the euro zone. “The Eurozone is a problem, it might have economic repercussions but for the moment there are still signs of recovery,” said BaseMetals.com analyst William Adams. Investors were waiting for an EU [...]
Feb
26
Copper rallies as weaker dollar sparks fund buying..
February 26, 2010 | Leave a Comment
Copper prices rose more than 2 percent on Friday as a weaker US dollar made metals cheaper for non-US investors and encouraged funds to buy.The euro rose against the yen on short-covering in the wake of its slide to a one-year low against the Japanese currency on Thursday, while the dollar was supported against the [...]
Feb
24
METALS-Copper gains on Bernanke, econ worries weigh..
February 24, 2010 | Leave a Comment
SHANGHAI, Feb 25 – Copper ticked higher on Thursday underpinned by U.S. Federal Reserve Chairman Bernanke’s pledge a day earlier to keep interest rates low though traders say tandem remarks about an uncertain economic recovery weigh on the market. Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates [...]