Daily FNArena News - Commodities

Steel industry watcher MEPS was surprised by a 5.4% jump in prices in May.

If investors should draw any conclusions from recent events it is that the price of gold is ready to continue its upward path, Dennis Gartman says.

Extra production from China, Russia and the EU to drive a 7.5% increase in stainless steel production, MEPS says.

Miners such as BHP may force a re-evaluation of treatment and refining charges in the copper smelting industry.

The March quarter saw the highest volume of net producer de-hedging measured since late 2002.

Global demand for commodities will abate from here on and the markets will have to adjust to the new situation, BCA says.

Are iron ore prices peaking? National Australia Bank predicts a price roll over into Japanese fiscal 2008.

The price of alumina in China has begun to fall following record imports of bauxite. Unlike copper, aluminium is not plagued by low inventories and a slow production response. If aluminium breaks ranks with the metals bull market, the whole complex could come down.

It would appear that this year’s negotiations for iron ore supply contracts have resulted in a victory for the three major producers. Sources say Chinese steel mills have abandoned their resistance to the proposed 19% price rise.

Chinese steel manufacturers are about to give up their opposition to a 19% price increase for iron ore this year, media reports on the basis of anonymous sources claim.