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May 24, 2022

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Column: Vanishing LME shadow stocks add to metals market turmoil: Andy Home

Reuters
LONDON, April 13 (Reuters) – The total amount of registered metal in the London Metal Exchange’s (LME) global warehouse network fell below 1 million tonnes in March. Exchange stocks of aluminium, copper, lead, nickel, tin and zinc haven’t been this low since the last century. The visible clear-out has been......

Aluminium set for big weekly fall in volatile market

Reuters
LONDON, March 11 (Reuters) – Aluminium rose on Friday but was down nearly 10% this week amid heightened market volatility after uncertainty about exports from Russia pushed prices to record highs. Russia produces around 6% of the world’s aluminium and is a major producer of copper and nickel, precious metals,......

Aluminium claws back losses as traders grapple with Russia risk

Reuters
LONDON, March 10 (Reuters) – Aluminium clawed back some of the previous day’s losses as uncertainty over supply from Russia ramps up price volatility. Benchmark aluminium on the London Metal Exchange (LME) was up 2.5% at $3,424 a tonne at 1719 GMT, having earlier been up 6.5%. Used in transport,......

LME nickel spikes over 22% on Russia supply worries

Reuters
March 7 (Reuters) – London nickel prices soared more than 22% on Monday, leading a rally in industrial metals, as supply fears grew in the wake of an escalating Russia-Ukraine conflict and mounting sanctions against Moscow. Three-month nickel on the London Metal Exchange had surged 22.1% to $35,305 a tonne......

LME aluminium hits record high as Russia sanctions fuel supply woes

Reuters
Feb 28 (Reuters) – London aluminium surged to a record high on Monday as fears of supply disruptions jumped after Western countries ratcheted up sanctions on Russia for invading Ukraine, including blocking some banks from the SWIFT global payments system. Russia produces about 6% of the world’s aluminium and accounts......

LME aluminium slips from record high as investors assess supply risks

Reuters
Feb 25 (Reuters) – London aluminium on Friday eased from a record high touched in the previous session as uncertainty over supply from Russia dragged prices after more sanctions were slapped on the major metals producer for invading Ukraine. European Union leaders imposed new economic sanctions, joining the United States......

London nickel hits highest in over a decade as supply tightens

Reuters
Feb 21 (Reuters) – London nickel prices rose on Monday to their highest in more than a decade, boosted by low inventories, while investors were cautious over the Ukraine tensions. U.S. President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine, the French......

Copper slips as Russia-Ukraine jitters weigh on sentiment

Reuters
Feb 17 (Reuters) – Copper prices fell on Thursday as investors were cautious amid growing uncertainty surrounding Russia-Ukraine tensions, while the dollar firmed making greenback-denominated metals more expensive. Russian-backed separatists in eastern Ukraine accused government forces on Thursday of opening fire on their territory four times in the last 24......

Copper leads losses on firm dollar, but base metals set for weekly gains

Reuters
Feb 11 (Reuters) – London base metals fell in Asian trading on Friday, led by copper, as the dollar firmed after a stronger-than-expected U.S. inflation data stoked worries about a more aggressive policy tightening by the Federal Reserve. Benchmark copper on the London Metal Exchange was down 3% at $9,943.50......

Supply fears push aluminium to 13-1/2-year highs

Reuters
LONDON, Feb 9 (Reuters) – Aluminium prices rose to 13-1/2 year highs on Wednesday as a supply shortfall caused by smelter closures in Europe and China ate further into exchange stockpiles. Smelters have cut output due to high energy prices and a crackdown on polluting industry in China, where power-hungry......

Aluminium prices rise to four-month high on supply worries

Reuters
Feb 8 (Reuters) – London aluminium prices hit a near four-month high on Tuesday boosted by dwindling inventories, while coronavirus curbs in the Chinese city of Baise has hit transportation of alumina raising concerns over a potential cut in production. Three-month aluminium on the London Metal Exchange was up 1.2%......

Shanghai aluminium rises 3% on supply woes, low inventories

Reuters
Feb 7 (Reuters) – Shanghai aluminium prices jumped 3% on Monday to hit a 3-1/2-month high, following a week-long Lunar New Year holiday, with the market bolstered by supply concerns and as inventories in London touched their lowest levels since 2007. The most-traded March aluminium contract on the Shanghai Futures......

Copper set for weekly gain on weaker dollar and low inventories

Reuters
Feb 4 (Reuters) – Copper prices rose on Friday, on course for a weekly gain, as a weaker U.S. dollar and low inventories provided strong support despite muted trading during a week-long holiday in top metals consumer China. Three-month copper on the London Metal Exchange (LME) was up 0.3% at......

Copper prices tick up in trade thinned by China holiday

Reuters
LONDON, Jan 31 (Reuters) – Copper prices ticked higher on Monday as the dollar lost ground, but trading volumes were thin as markets in top metals consumer China were closed for the week-long Lunar New Year holiday. Benchmark copper on the London Metal Exchange (LME) inched up 0.6% to $9,560......

Indonesia’s restrictions on commodities rattle markets, more moves likely

Reuters
A worker displays nickel ore in a ferronickel smelter owned by state miner Aneka Tambang Tbk at Pomala district, Indonesia, March 30, 2011. REUTERS/Yusuf Ahmad Register now for FREE unlimited access to Reuters.com Register Jan 28 (Reuters) – In just the first month of this year, Indonesian policymakers have rattled......

Copper gains for second session, market eyes Fed move

Reuters
SINGAPORE, Jan 26 (Reuters) – London copper prices edged higher on Wednesday, in positive territory for the second session, ahead of U.S. Federal Open Market Committee’s decision on interest rates. Investors are awaiting the Fed’s update to its policy plan, likely fleshing out timing on expected rate hikes and dwindling......

LME copper slips on Fed hike jitters; Shanghai nickel leaps to record

Reuters
Jan 21 (Reuters) – London copper prices slipped on Friday as risk sentiment soured with markets expecting the U.S. Federal Reserve to aggressively raise interest rates this year, although hopes of further policy support from China kept the metal on track for a weekly gain. Dwindling inventories and optimism about......

London copper gains on dollar weakness but capped by higher inventories

Reuters
Jan 18 (Reuters) – London copper prices edged higher on Tuesday as a weaker dollar made the greenback-priced metal attractive for holders of other currencies, while rise in inventories in London Metal Exchange-registered warehouses capped further gains. Three-month copper on the London Metal Exchange rose 0.4% to $9,769 a tonne......

Copper prices subdued as dollar gains some ground

Reuters
Jan 17 (Reuters) – Copper prices inched lower on Monday as the dollar held firm amid bets of several interest rate hikes this year by the U.S. Federal Reserve. Three-month copper on the London Metal Exchange was down 0.1% at $9,713.5 a tonne by 0310 GMT. Prices fell 2.4% on......

Copper eases; set for best week since Oct on supply crunch

Reuters
Jan 14 (Reuters) – Copper prices eased on Friday, as investors braced for a U.S. interest rate hike in March, but they were headed for their biggest weekly gains since October supported by tight supply. Three-month copper on the London Metal Exchange eased 0.3% to $9,925 a tonne by 0615......

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