Nikos Kavalis News
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Paulo Oliveira and his wife sold their wedding rings to pay the rent after he lost his job as a builder last month. They were the couple’s last pieces of jewelry.
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Nikos Kavalis has joined RBS Global Banking & Markets in London as a metals analyst, said Nick Moore, chief commodities strategist.
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Copper rose the most in almost seven months in New York amid reduced concern that the euro-region debt crisis will crimp demand after officials agreed to ease rules for emergency loans to Spanish banks.
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On a dark, drizzly November morning, Michael Farmer steps to the pulpit to deliver a stern message to fellow parishioners at St. Helen’s Bishopsgate, an 800-year-old church in the shadow of the London Metal Exchange and in the heart of the City, London’s financial district.
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After slumping more than any other industrial metal, analysts and traders say the worst may be over for nickel as restrictions on shipments from Indonesia, the biggest producer, diminish a worldwide glut.
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Copper traders are the most bullish since October as global inventories at a two-year low add to signs that demand is improving.
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The world’s largest mining companies led by BHP Billiton Ltd. are struggling with higher costs to complete $200 billion in new projects, prompting them to slow work and turn instead to acquisitions and asset sales.
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Gold fell for the second time this week in New York as equities declined and gains in the dollar curbed demand for the precious metal as an alternative asset.
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The strike at Impala Platinum Holdings Ltd.’s Rustenburg mine in South Africa is costing the market about 3,000 ounces of metal a day, equivalent to about 17 percent of estimated global supply in 2012, according to Royal Bank of Scotland Group Plc.
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Lead inventories monitored by the London Metal Exchange climbed the most in a month to the highest level in more than 16 years.
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