Copper Rises in London on Stockpile Drop, `Tight' Supply; Zinc, Tin Gain

(Bloomberg) -- Copper rose for the first time in
six days in London on falling stockpiles and speculation that a
lack of new mine supply and a shortage of ore will curb
production of the metal this year. Zinc and tin also advanced.

Stockpiles of copper monitored by the London Metal Exchange
fell 1 percent to 101,800 metric tons, the exchange said today
in a daily report. Demand for the metal used in pipes beat
production by 265,000 tons in the first four months of the year,
the International Copper Study Group said earlier this month.


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Copper Rises to One-Month High on Chile, Falling Stockpiles; Zinc Gains

(Bloomberg) -- Copper prices rose in Asia to a one-
month high on concern labor disputes in Chile, the world's
largest source of the metal, may disrupt supplies and further
deplete global stockpiles. Zinc was also higher.

Inventories monitored by the London Metal Exchange dropped
for a seventh straight day, by 1,650 metric tons to 110,375 tons,
the exchange said yesterday. Contract workers at Dona Ines de
Collahuasi, Chile's third-largest copper mine, plan to strike on
July 9 after they found an improved wage offer too low.


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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.


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Shanghai copper down 1 pct, LME stocks seen rising

(Reuters) - Shanghai copper fell nearly 1 percent on Friday on weakness in London futures in the previous session after stocks jumped nearly 5 percent following large-scale deliveries into warehouses in South Korea.

London Metal Exchange inventories rose 5,400 tonnes to 119,600 tonnes on Thursday after deliveries of 6,550 tonnes into warehouses in South Korea, and traders said more metal was expected.


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Copper Falls in New York as Global Inventories Surge Most in Eight Months

(Bloomberg) -- Copper fell in New York after
inventories monitored by the London Metal Exchange jumped the most
in almost eight months.

Warehouse stockpiles rose 4.7 percent to 119,600 tons, the
biggest increase since Oct. 24. Before today, inventories had
dropped 38 percent this year to the lowest since October. Copper,
used in pipes and wires, has gained 18 percent this year, partly
because of dwindling supplies.


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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.


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Australia Dollar Trades Near a 17-Year High as Prices of Gold, Copper Rise

(Bloomberg) -- The Australian dollar traded near a
17-year high as prices for metals exported by the nation
including gold and copper climbed.

The currency advanced after a measure of six metals on the
London Metal Exchange gained 2.5 percent last week, the most in
a month. Mining and energy exports account for half of
Australia's shipments.


Read more at Bloomberg Currencies 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

Copper Prices Rise by Maximum in Shanghai on Declining Global Stockpiles

(Bloomberg) -- Shanghai copper prices rose by the
daily limit following a drop in stockpiles and signs of continued
demand from China, the world's biggest user of the metal.

Global inventories of copper in warehouses monitored by the
London Metal Exchange fell for the sixth day, by 1.5 percent to
134,125 metric tons, the lowest since Oct. 31, the exchange said
on May 25. Shanghai exchange stockpiles fell 0.5 percent from a
three-year high in the past week, easing concern that China may
be oversupplied with the metal, used in wires and pipes.


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Shanghai copper drops 1.2 pct after LME fall

(Reuters) - Shanghai copper futures fell 1.2 percent on Wednesday, but light consumer buying in Asia helped London Metal Exchange copper futures stabilise after sharp overnight losses triggered by weak U.S. data.

A falling consumer confidence index and a drop in U.S. new home sales for February to their lowest level since June 2000 pushed down LME copper futures on Tuesday. Three-month copper closed at $6,680 a tonne, but recovered to trade between $6,690 and $6,725 on Wednesday as Asian consumers bought.


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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.

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Base metals market drifts, looks beyond holiday

Base metal prices mostly drifted down on the London Metal Exchange on Tuesday, but the market is well supported as it awaits the return of Chinese buyers after their Lunar New Year holiday.

"The Chinese are away from the market -- it is relatively quiet this week but the market will remain well supported at current levels," analyst Michael Widmer at Calyon said.
The Chinese holiday would leave markets subdued, Widmer said, but saw nothing to suggest any big drop in prices.

Three-months lead was at $1,760/1,770 a tonne by 1018 GMT from $1,780 on Monday, when it hit a new contract high of $1,815.

Read more at Reuters South Africa

LME copper higher on falling inventories

Copper traded higher on Tuesday as stocks in London Metal Exchange warehouses fell and if the trend persisted it could spark prices to go higher, analysts said.

"If that were to continue... more downs than ups in visible stocks, then there would be one or two shorts around that might give us a base in these markets as they unwind their positions," chief investment strategist Sean Corrigan at Diapason Commodities Management said.
Copper for delivery in three months was up $60 or 1.1 percent at $5,400/5,410 a tonne by 1049 GMT.

Copper stocks in LME-monitored warehouses fell for the second consecutive day to 212,575 tonnes, but stocks have doubled in the past 12 months and are over eight times greater than their July 2005 low.

Read full article at Reuters South Africa

Nickel bounces after dropping over Sudbury

Nickel futures fell 3 percent in early business at the London Metal Exchange on Thursday after a deal to stop a potential strike at the Sudbury, Ontario operations of miner Xstrata.

Three-months futures traded as low as $35,900 per tonne, down $1,200 from its previous closing price, before rebounding to $36,650 by the end of the official session.


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Nickel drops on Sudbury labour deal

Nickel futures fell 3 percent in early business at the London Metal Exchange on Thursday after a deal to stop a potential strike at the Sudbury, Ontario operations of miner Xstrata

The Anglo-Swiss mining firm and the union representing around 1,000 workers reached tentative agreement on a new contract late on Wednesday, narrowly avoiding a strike which would have further tightened supply of the metal.

Three-months futures traded as low as $35,900 per tonne, down $1,200 from its previous closing price, before rebounding to $36,525/36,675 by 1130 GMT.

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Nickel hovers below highs as copper falls

Nickel prices hovered near record highs in early trade in London on Monday, supported by the threat of strike action at major producer Xstrata and by a further fall in stocks.

At $37,800/38,000 per tonne at 1100 GMT, London Metal Exchange nickel for delivery in three months was 13percent higher than at the start of the year.

On Friday it hit a fresh high of $38,950 before closing at$38,100.

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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.

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Copper gains on China news, but gains seen capped

Copper prices rose on Thursday as strong economic growth in China boosted sentiment, but analysts said gains were likely to be capped by rising stocks and worries about oversupply.

Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.

China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.

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