Market Report

Monday Report: July 26, 2010
With no really bad news connected to last week's banking stress test results (no one flunked!) today's base metal markets look steady early, reacting positively to the growing potential for economic growth going forward...LME prices were mixed as LME inventories fell.

Friday Report: July 23, 2010
Thursday's weak dollar-inspired rally helped the LME complex along with some short covering that has spilled over into today...copper was trading at a two-month high while others were showing multi-week gains before hitting resistance, closing lower compared with late-Thursday. Along with the weaker dollar and supportive LME inventory trends, traders also see a bit less risk aversion towards base metals despite on-going concerns over near term economic growth. Traders are looking for Comex copper to open higher this a.m.

Monday Report: July 19, 2010
Monday's LME has bounced a bit from last Friday's beat down but the upside is said to be limited given the on-going demand concerns going forward. Latest inventory drawdowns supportive...look for Comex copper to open on the plus side this a.m.

Friday Report: July 16, 2010
It's Friday morning and the LME at mid-day is a bit firmer after a softer opening on relatively light volume...most of the macro news of late has hardly inspired base metal confidence...London gold was last indicated at $1,205 - $1,206/to and said to be marking time in the absence of fresh news...traders are looking for Comex copper to open little changed from Thursday's close...yesterday, the September contract added 35 points, finishing the day @ $3.0120/lb.