http://www.scrap.org/marketreport ISRI Monday and Friday Report Mon, 18 Oct 2010 20:19:36 GMT en-us http://www.scrap.org/marketreport/2010/j_October/ISRI_Monday_Report_10_18_2010.pdf http://www.scrap.org/marketreport/2010/j_October/ISRI_Monday_Report_10_18_2010.pdf Mon, 18 Oct 2010 20:19:36 GMT Monday morning finds trading somewhat subdued with most LME base metals lower reflecting the firmer dollar...not surprising, London gold was also lower, and last indicated at just under $1,360/to. Today's IP number will influence today's commodity and equity market behavior. http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_15_2010.pdf http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_15_2010.pdf Fri, 15 Oct 2010 15:13:38 GMT This morning (Friday) the LME looks to be marking time after yesterday's mixed close...London gold was last indicated at just under $1,380/to and termed "steady." In New York, traders are looking for Comex copper to open little changed from yesterday's close -- the December contract closed down 50 points at $3.8155/lb. December gold, meanwhile, posted another record close @ $1,377.60/oz. Market participants said to be waiting to hear what Fed Chair Bernanke has to say this morning in Boston about monetary policy. We'll also get a look at September retail sales. http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_8_2010.pdf http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_8_2010.pdf Fri, 08 Oct 2010 16:37:46 GMT Winding down this first full (crazy) week of October, Friday morning finds the LME complex looking flat in a consolidation mode following yesterday's dollar-inspired bout of profit taking...tin remains firm above $26,000/mt - the Indonesian government believes tin prices will rise to $28,000/mt, due to supply disruptions there...London gold was last indicated at $1,333/to, just under yesterday's Comex December close... traders are looking for Comex copper to open slightly higher...yesterday, the December contract gave back 7.35 cents, closing at $3.6795/lb. This morning, we'll get a look at September's much anticipated Nonfarm Payrolls report...the consensus is not expecting a lot in terms of jobs creation, so any positive number would go along way in boosting market sentiment. We've gotten some mixed employment news so far this week: Wednesday's less than favorable jobs report from ADP, but then a better-than-expected weekly Initial Claims figure yesterday. http://www.scrap.org/marketreport/2010/j_October/ISRI_Monday_Report_10_4_2010.pdf http://www.scrap.org/marketreport/2010/j_October/ISRI_Monday_Report_10_4_2010.pdf Mon, 04 Oct 2010 17:09:42 GMT Monday is featuring some early modest pushback on the LME with those closest to the action crediting a firmer dollar along with some profit taking...to most, however, the near term trend is still a friend. http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_1_2010.pdf http://www.scrap.org/marketreport/2010/j_October/ISRI_Friday_Report_October_1_2010.pdf Fri, 01 Oct 2010 17:58:42 GMT After yesterday's modest "technically overbought" pullback, Friday morning finds the LME again moving higher, led by a weaker dollar and China's latest PMI figure...London gold was last indicated at a record $1,315/to with the dollar now at a six-month low. A poll this week at the 2010 London Bullion Market Association conference found attendees thinking in terms of $1,450/to for 2011...traders are looking for Comex copper to open higher (LME copper is trading at a two-year high)...yesterday, the Dec contract closed at $3.6515/lb, a penny lower...for the quarter, December copper was up some 20%. This morning, a number of important economic releases are due out: personal spending and income; construction spending; September auto sales, and the closely watched ISM Index. Good news today will go a long way in maintaining the momentum that seems to be building. Here's hoping... http://www.scrap.org/marketreport/2010/i_September/ISRI_Monday_Report_9_27_2010.pdf http://www.scrap.org/marketreport/2010/i_September/ISRI_Monday_Report_9_27_2010.pdf Mon, 27 Sep 2010 17:34:00 GMT This morning the LME is mixed holding on to its recent gains, looking to China for fresh direction as well as global equity markets...the dollar is a bit stronger...London gold traded above the $1,300/to mark, setting yet another record high...traders are looking for Comex copper to consolidate around the $3.60/lb level. In the absence of fresh macro news, profit taking is a consideration... http://www.scrap.org/marketreport/2010/i_September/friday_report_9_24_2010.pdf http://www.scrap.org/marketreport/2010/i_September/friday_report_9_24_2010.pdf Fri, 24 Sep 2010 15:25:55 GMT This morning, Friday, the LME was off to a firm start with several metals visiting five-month highs on (mostly) currency-inspired buying...London gold was last indicated at just under $1,300/to...silver was trading at a 30-year high...traders are looking for Comex copper to open on the plus side...yesterday, the December contract closed 255 points higher at $3.5905/lb. Today's economic releases include Durable Goods orders for August as well as New Home Sales. http://www.scrap.org/marketreport/2010/i_September/friday_report_9_10_2010.pdf http://www.scrap.org/marketreport/2010/i_September/friday_report_9_10_2010.pdf Fri, 10 Sep 2010 15:10:19 GMT Friday finds the LME mixed but with a negative nervous bias...we're watching tin, of course, this morning's LME Officials has the 3-mos. contract at $21,800/mt, its highest level since August '08, almost doubling since the start of the year...supply tightness the key driver although demand for solders and tinplate have also responded...London gold was last indicated at $1,248/to and termed "steady." Traders are looking for Comex copper to open slightly lower...yesterday, the December contract closed at $3.4435/lb, down 5.7 cents on the day. http://www.scrap.org/marketreport/2010/i_September/friday_report_9_3_2010.pdf http://www.scrap.org/marketreport/2010/i_September/friday_report_9_3_2010.pdf Fri, 03 Sep 2010 15:04:56 GMT This morning's LME trading was quiet but prices were firm early ahead of this three day Labor Day Holiday weekend...London gold was last indicated at $1,250-$1,251/to and termed "steady"...yesterday, Dec Comex gold rose to $1,253.40, nearly matching its June 28th record ($1,256.60). In New York this morning, traders are looking for Comex copper to open a bit weaker as London prices drift...yesterday, the December contract ended the day higher @ $3.4955/lb. http://www.scrap.org/marketreport/2010/h_August/Monday_Report_8_16_2010.pdf http://www.scrap.org/marketreport/2010/h_August/Monday_Report_8_16_2010.pdf Mon, 16 Aug 2010 20:15:57 GMT This week's LME is off to firmer start reflecting the usual suspects in the absence of fresh macro news: dollar weakness, bargain hunting, short covering, and the latest LME inventory drawdowns. Overall market sentiment, however, remain cautious and conservative. http://www.scrap.org/marketreport/2010/h_August/Friday_Report_8_6_2010.pdf http://www.scrap.org/marketreport/2010/h_August/Friday_Report_8_6_2010.pdf Fri, 06 Aug 2010 15:09:48 GMT Following Thursday's across the board selling, this morning's LME is stronger all around and the dollar is weaker as market participants anxiously await today's Nonfarm Payrolls report for fresh direction. London gold was last indicated @ $1,140/to and termed "steady." Traders are looking for Comex copper to open higher...yesterday, the Sept contract closed lower by a little over 5 cents @ $3.3535/lb. http://www.scrap.org/marketreport/2010/h_August/Monday_Report_8_2_2010.pdf http://www.scrap.org/marketreport/2010/h_August/Monday_Report_8_2_2010.pdf Mon, 02 Aug 2010 26:05:29 GMT Ignoring, for now, a weaker Chinese PMI number for June (a 17-month low but the index remained above 50,) the LME powered higher at the opening, supported by inventory declines, a weaker dollar, firmer global equities, and renewed confidence in increased metal consumption going forward. Over baked? http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_26_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_26_2010.pdf Mon, 26 Jul 2010 14:05:08 GMT 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. http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_23_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_23_2010.pdf Fri, 23 Jul 2010 19:26:00 GMT 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. http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_19_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_19_2010.pdf Mon, 19 Jul 2010 21:02:49 GMT 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. http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_16_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_16_2010.pdf Fri, 16 Jul 2010 21:28:45 GMT 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. http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_12_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_12_2010.pdf Mon, 12 Jul 2010 16:55:27 GMT Today's LME is off to a sluggish start awaiting fresh macro developments...copper said to be lower reflecting lower June Chinese copper imports for the third straight month. A stronger dollar also said to be a factor. Traders are looking for Comex copper to open lower this a.m. http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_9_2010.pdf http://www.scrap.org/marketreport/2010/g_July/ISRI_Monday_Report_7_9_2010.pdf Fri, 9 Jul 2010 17:40:53 GMT This morning (Friday) the LME is looking firmer as is the macro outlook thus helping overall market confidence and sentiment...London gold was last indicated at $1,196/to...in New York this morning, traders are looking for Comex copper to open on the plus side...yesterday, the Sept. contract hardly changed, ending $0.0005 higher @ $3.0155/lb.