LME takes aim at traders’ Russian metal games with new rules
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim at a lucrative and complex trading opportunity that emerged after the imposition of sanctions on Russian metal earlier this month.
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Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Iron ore hit by fresh selling as traders fret over China demand
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese demand. Base metals also fell.
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Visit: 173
Metals sanctions are dividing the biggest traders and banks
The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of how the fallout from the war in Ukraine continues to ripple through commodity markets while creating opportunities for those willing to navigate the restrictions.
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Visit: 256
Iron ore price consolidates as traders ponder demand outlook
Iron ore futures were in a tight range on Monday, with the Dalian benchmark ticking up and Singapore prices receding, as investors pondered the demand outlook in the absence of an expected monetary easing in top consumer China.
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Visit: 111
Major Chinese copper trader sees glut weighing on prices in 2024
Mining News Pro - The global copper market will face a glut next year, according to one of China’s biggest traders of the metal, which will likely lead to further declines in the commodity that’s vital to the energy transition.
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Copper price gains as traders assess China deflation, Fedspeak
Mining News Pro - Copper futures rose 0.3% to $8,162.50 as of 11:03 a.m. in New York.
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Metal trader misery undercuts supercycle hype as losses pile up
Mining News Pro - The world’s metal traders are enduring one of their toughest periods in years, even as an international race for minerals thrusts the industry into the geopolitical spotlight like never before.
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Visit: 222
Ex-JPMorgan gold trader sentenced to six months in ‘spoof’ case
Mining News Pro - A former JPMorgan Chase & Co. gold trader was ordered to serve six months behind bars for a fraud conviction tied to deceptive orders, the last criminal penalty imposed in a years-long spoofing saga at the bank.
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Metals traders are leaving hedge funds as markets disappoint
Mining News Pro - A series of metal traders are leaving hedge funds — including some fairly new hires — after the wild price swings that drew fresh money into the sector in recent years have evaporated, leaving markets drifting sideways.
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Aluminum trader’s huge LME position ignites battle for stock
Mining News Pro - One of the world’s biggest metals traders has built up a dominant position in one part of the London Metal Exchange aluminum market, creating a squeeze on exchange stocks and putting focus on the availability of non-Russian metal.
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Visit: 259
Ex-JPMorgan gold traders ask for no prison time in spoofing case
Mining News Pro - JPMorgan Chase & Co.’s former precious-metals desk head and his top gold trader asked to be spared prison sentences for spoofing.
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Visit: 216
Iron ore’s sharp gains catch Beijing’s eye as traders summoned
Mining News Pro - China’s top economic planning body has summoned a group of iron ore traders and asked them to provide details of recent business, a sign that authorities want to head off fresh commodity inflation as the economy rebounds.
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Gold price slides with higher yields as traders eye Fed policy, China
Solid US economic data on Monday boosted the chances of higher interest rates for longer from the Fed, which is negative for bullion as it pays no interest. Treasury yields and the dollar extended gains after the figures were released, sending bullion down as much as 1.4%.
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Visit: 327
Aluminum stocks jump as traders eye shift from shortage to glut
Mining News Pro - A jump in London Metal Exchange aluminum inventories is adding to mounting evidence of weakening demand for one of the world’s most important industrial metals, while some key buyers are trying to shun Russian supplies.
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Visit: 500
Gold price pares gains as traders weigh US data, Fed rate hike path
Mining News Pro - Gold pared early gains after the latest data pointed to a mixed US economy, while traders await a key speech by Federal Reserve Chair Jerome Powell for clues on monetary tightening.
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Gold price slips for sixth day as traders await rate hike path cues
Mining News Pro - Gold dropped for a sixth day with the dollar and Treasury yields pushing higher as traders await clues on central banks’ monetary tightening from the annual Jackson Hole meeting.
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How the US toppled the world’s most powerful gold trader
Mining News Pro - In December 2018, a man in his early 30s was intercepted on arrival at Fort Lauderdale airport and taken to a room where two FBI agents sat waiting.
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Iron ore price falls as traders weigh demand prospects in China
Mining News Pro - The iron ore price fell on Friday as traders weighed demand prospects in China.
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Glencore cuts off Chinese trader caught up in missing copper scandal
Mining News Pro - Global commodity traders including Glencore (LON: GLEN) and IXM have halted shipments to Chinese metals merchant Huludao Ruisheng after nearly half a billion dollars’ worth of copper went “missing” at a storage site in the country’s north.
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Gold slips as traders weigh fed rate path over easing inflation
Mining News Pro - Gold gave up early gains with the dollar paring most losses as traders assessed the Federal Reserve’s path of monetary tightening after another report showed US inflation is easing.
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JPMorgan gold traders found guilty in Chicago spoofing trial
Mining News Pro - The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus “spoofing” orders.
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Visit: 404
Gold price steady as traders weigh drops in ETFs, inflation, dollar
Mining News Pro - Gold held near an 11-month low as investors weighed a prolonged decline in holdings of bullion-backed exchange traded funds and the dollar’s recent bout of weakness.
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Hedge fund run by ex-gold trader soars on Chinese nickel bet
Mining News Pro - As the world was still guessing whether Vladimir Putin would invade Ukraine, a little-known hedge fund in Beijing was already betting that it would happen.
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Visit: 627