Lead Falls The Most in a Month on London Exchange, Erasing Earlier Gains

(Bloomberg) -- Lead fell the most in a month on the
London Metal Exchange, erasing earlier gains.

Lead for delivery in three months on the LME dropped $110,
or 4.1 percent, to $2,600 a metric ton as of 1:13 p.m. local
time, the biggest intraday decline since May 24. Earlier, the
contract gained as much as 1.3 percent to $2,745, a record for a
fifth consecutive session.


Read more at Bloomberg Commodities News

Nickel Falls to 10-Week Low After Exchange Changes Rules, Inventories Rise

(Bloomberg) -- Nickel fell to a 10-week low, erasing
its leading position this year on the London Metal Exchange, as
stockpiles rose and the bourse imposed new rules to curb what one
analyst described as ``collusive'' trading.

Two or more companies each holding 25 percent or more of
LME-monitored nickel stockpiles now need to make more metal
available to other buyers. Inventories tracked by the LME
increased 2.4 percent to 8,604 tons, the highest since July 10.


Read more at Bloomberg Commodities News

Copper Prices Fall in Asia as Recent Gains Viewed as Excessive; Zinc Down

(Bloomberg) -- Copper prices fell in Asia as recent
gains on declining global inventories were seen overdone and
concern eased that labor disputes in Chile, the world's biggest
producer, may disrupt supply.

Inventories of copper tracked by the London Metal Exchange
dropped for the 12th-straight session to 123,300 metric tons, the
LME said yesterday in a daily report. Inventories in China have
fallen in the past two weeks, the Shanghai Futures Exchange said
on June 1.


Read more at Bloomberg Commodities News

Copper Futures Advance in New York as Inventories Fall to Seven-Month Low

(Bloomberg) -- Copper futures in New York rose to the
highest in more than a week after inventories monitored by the
London Metal Exchange fell for a ninth day.

Stockpiles in London fell 1 percent to 128,925 metric tons
today, the lowest since Oct. 27. Supplies of the metal monitored
by the LME have dropped 30 percent in 2007 as imports into China
rose to record levels. Copper has rallied 17 percent this year as
inventories dwindled and demand rose in China, the world's
biggest consumer of the metal used in pipes and wires.


Read more at Bloomberg Commodities News

LME copper drifts, awaits US data

Base metals drifted in early business in Europe on Friday, with the market awaiting key data from the United States for clues about future economic growth.

Benchmark three-month copper futures at the London Metal Exchange were quoted at $6,177/6,185 per tonne at 1144 GMT, down $98 from Thursday's close.

Mining shares fell more steeply than the FTSE index of 100 shares.
The world's biggest mining company BHP Billiton was down 0.5 percent and Chilean copper miner Antofagasta was down almost 2 percent by late morning in London.

Read more at Reuters South Africa

Rising stocks weigh on copper, outlook brighter

Rising stocks knocked copper market sentiment on Friday, but analysts say expectations of strong demand growth from China will underpin the metal and possibly push prices back above $6,000 over coming days.

Nickel for three-month delivery on the London Metal Exchange touched a new all-time high of $38,950 a tonne on worries about low stocks and supply shortages, while tin was hovering below this week's record high of $12,500 a tonne.

Three-month copper was by 1105 GMT was quoted down at $5,800/5,820 a tonne from $5,850 on Thursday, when it touched a two-week high of $5,910.

Stocks of copper in LME warehouses rose 4,325 tonnes to 207,700 tonnes, more than double the levels seen last January.

Read Full Article at Reuters South Africa