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Glencore International PLC

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  • NEW YORK, Nov 21- Complex deals employed by Goldman Sachs' metals storage unit to build vast stockpiles and then maintain queues test the spirit of the London Metal Exchange operating code, shocking many traders and confirming others' suspicions. An explosive U.S. Senate report released on Wednesday revealed the "imaginative" methods used to lure millions of...

  • LONDON, Nov 20- Copper slipped on Thursday as weak manufacturing in China and slower business growth in the euro zone raised concerns about demand, while nickel hit a five-week high due to expectations of an ore shortage. In top metals consumer China, growth in its vast factory sector stalled in November, with output contracting for the first time in six months,...

  • METALS-London nickel hits 5-week high as shortfall eyed Wednesday, 19 Nov 2014 | 10:59 PM ET

    *Coming up: euro zone Markit flash mfg PMI at 0900 GMT. SYDNEY, Nov 20- London nickel hit a five-week high on Thursday on expectations of a shortage of ore in China, as stainless steel makers run down their raw material stockpiles following an Indonesian ban on ore exports. "The chances of a supply gap are fairly high... but I don't think it's going to be as acute as consensus...

  • METALS-London copper slips ahead of China flash PMI Wednesday, 19 Nov 2014 | 8:26 PM ET

    SYDNEY, Nov 20- London copper edged down on Thursday, ahead of a November reading on the health of China's manufacturing sector, while nickel prices were supported by expectations of a supply shortage. Prices have been pinned in a $300 range from around $6,600- $6,900 since mid September. *In news, Goldman Sachs Group Inc's metals storage unit paid Deutsche Bank,...

  • LONDON, Nov 19- The splintering of the global aluminium price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its...

  • LONDON, Nov 19- The splintering of the global aluminum price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its U.S....

  • NEW YORK, Nov 19- Goldman Sachs Group Inc's metals storage unit paid Deutsche Bank, Glencore and British hedge fund Red Kite millions of dollars in incentives that helped extend wait times in the company's Detroit storage hub, a Senate report showed on Wednesday. The 400- page report by the Senate's Permanent Subcommittee on Investigations exposes details of...

  • NEW YORK, Nov 19- Goldman Sachs Group Inc's metals storage unit paid Deutsche Bank, Glencore and British hedge fund Red Kite millions of dollars in incentives that helped extend wait times in the firm's Detroit storage hub, a Senate report showed on Wednesday. The 400- page report by the Senate's Permanent Subcommittee On Investigations exposes details of...

  • WASHINGTON, Nov 19- A two-year Senate investigation into Wall Street's physical commodities business found that U.S. banks had manipulated prices and gained unfair trading advantages at the expense of consumers. Goldman Sachs Group Inc, Morgan Stanley and J.P. Morgan built huge inventories of aluminum, oil, jet fuel and other commodities, the report said, and...

  • LONDON, Nov 19- The splintering of the global aluminium price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its...

  • LONDON, Nov 19- The splintering of the global aluminum price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its U.S....

  • Anti-corporate groups to stop protesting Davos Wednesday, 19 Nov 2014 | 6:01 AM ET

    GENEVA— Two anti-corporate campaign groups said Wednesday that they will stop staging protests at the World Economic Forum because they believe the annual meeting of political and business leaders in Switzerland is no longer relevant. Instead, the groups said they would focus their work on promoting a plan— to be put to referendum in Switzerland— that would...

  • WASHINGTON, Nov 17- A heavyweight list of bankers and regulators will appear before a U.S. Senate committee this week in a probe into Wall Street's role in commodity markets and ahead of possible tougher rules from the Federal Reserve. On Thursday, speakers will include Christopher Wibbelman, the head of Goldman Sachs's warehousing unit Metro International...

  • SYDNEY, Nov 17- China's metals industry is grappling with tougher credit conditions that are likely to persist and spark consolidation after a portside financing scandal roiled the market, said an executive at one of the world's biggest commodity traders. Simon Collins, head of metals and minerals at Trafigura, said that miners, smelters and fabricators were...

  • SYDNEY, Nov 17- China's metals industry is grappling with tough credit conditions that are likely to persist and spark consolidation after a portside financing scandal roiled the market, said an executive at one of the world's biggest commodity traders. Simon Collins, head of metals and minerals at Trafigura, said that miners, smelters and fabricators were...

  • *Glencore, China's Jinchuan had bid for Nickel West. The Nickel West division has long-suffered from high costs associated with operating in Australia and Chief Executive Andrew Mackenzie had made it clear it fell outside his focus on "four pillars of growth"- iron ore, copper, petroleum and coal. At the time, Swiss-based commodities and mining giant Glencore Plc...

  • SINGAPORE, Nov 11- The world's biggest trading platform for spot iron ore cargoes, globalORE, is looking to launch a new contract next year to further boost volumes that hit record levels in October as prices tanked, its chief executive said. Cargoes of the steelmaking ingredient sold on the platform help determine benchmark spot prices that have this year...

  • BEIJING, Nov 8- Global miner Rio Tinto, which gets 92 percent of its revenue from iron ore, is unfazed by the drop in ore prices and sticking to plans to raise output, chief executive Sam Walsh told Reuters in an interview. The Anglo-Australian miner, which rebuffed an approach from commodities trader Glencore Plc in August, is also confident of increasing returns to...

  • LONDON, Nov 7- The price of spot iron ore has sunk to $75.50 per tonne this week, its lowest level since 2009.. It was only in April that José Carlos Martins, executive officer of ferrous and strategy at Vale, the world's largest producer of iron ore, told analysts that "one thing is for sure, the price will not go below $110 on a sustainable basis". Well, here we are with the...

  • LONDON, Nov 5- Trading house Mercuria aims to sell a stake of up to 20 percent to a strategic partner in the second quarter of 2015 after it completes integration with the newly acquired assets of JPMorgan, its chief executive said. The company has been working on the placement for a couple of years but it had to be postponed after Mercuria decided to acquire the...