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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Zinc price trades near one-year high as market weighs supply risks
Zinc traded close to a one-year high as metals markets looked past delays to US monetary easing to focus on looming supply risks.
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Visit: 70
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: 99
Pressure groups sue LME for allowing trade of ‘polluting’ Indonesian metal
Two pressure groups have filed a legal action against the London Metal Exchange (LME) for allowing the sale on its platform of metal produced in Indonesia that they allege is polluting local rivers used by indigenous communities, they said on Thursday.
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Visit: 95
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: 233
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: 94
Panama trade minister resigns after mining contract backlash
Mining News Pro - Panama’s Trade Minister Federico Alfaro announced his resignation on Thursday days after the country’s top court ruled a contract between the government and Canadian miner First Quantum unconstitutional.
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Visit: 75
EU and US delay key trade meeting amid deadlock in negotiations
Mining News Pro - A trade meeting between the US and European Union due to take place next month is expected to slip to early next year as the two allies remain deadlocked in talks about steel and critical minerals.
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Visit: 216
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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Visit: 190
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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Visit: 119
Citi’s mega metals trade shows global markets turning to glut
Mining News Pro - Citigroup Inc. has been buying large volumes of physical aluminum and zinc on the London Metal Exchange, in a bold metal-financing trade that’s made it one of the biggest players in the market in recent months.
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Visit: 159
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: 204
Alrosa suspends diamond supply for Sept-Oct – India’s trade body
Mining News Pro - Russian diamond producer Alrosa has suspended rough diamond supply for September and October after a request from India’s leading trade body, the Gems and Jewellery Export Promotion Council (GJEPC) said on Wednesday.
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Visit: 225
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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Visit: 196
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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Visit: 283
The hottest trade in equity options is spreading to commodities
Mining News Pro - Commodity investors are following a hot trend in equities trading, using short-term options to bet on events from jobs and crop reports to OPEC meetings.
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Visit: 111
G7 to discuss diamond trade with future Russia sanctions in mind
Mining News Pro - Leaders of the Group of Seven (G7) nations will discuss how to trace Russian diamond trade at a summit this week with the aim of imposing restrictions at a later stage, an EU official said on Thursday.
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Visit: 152
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: 241
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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AQR leads 10 hedge funds suing LME over nickel trade debacle
Mining News Pro - AQR Capital Management formally filed a London lawsuit against the London Metal Exchange, joining nine other hedge funds in a series of claims targeting the exchange’s decision to cancel billions of dollars in nickel trades last year.
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Visit: 203
LME nickel to trade in Asian hours for first time since crisis
Mining News Pro - The London Metal Exchange will reopen nickel trading during Asian trading hours from March 20, in what is likely to provide an important liquidity boost for the market that has struggled to recover after last year’s crisis.
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Visit: 251
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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Visit: 248
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: 321