Davis Trading News

On Friday, base metal prices at the Shanghai Futures Exchange settled higher but LME prices were drifting lower as investors awaited the advance estimate of 1st quarter GDP in the U.S. (Due to our attendance at MRAI’s 2013 India Metal Recycling Conference in New Delhi, the Friday Report comes out before today’s... read more

On Friday, most base metal prices remained under pressure despite reports of somewhat less jittery market conditions and a slightly stronger Euro. In London, LME 3-mo. copper reportedly last traded at $6,967.50/mt ($3.16/lb.) while LME 3-mo. aluminum and nickel prices softened to $1,882/mt (85 cents/lb.) and $15,177/mt ($6.88/lb.), respectively. In... read more

On Friday, all eyes were on this morning’s jobs report in the U.S. and the numbers came in well below expectations. The private sector added 95,000 jobs in March (less than half the consensus forecast) while the government sector shed 7,000 jobs and the labor force contracted by nearly 500,000.... read more