October 2020

LIVE FUTURES REPORT 01/10: LME copper price plunges 5% in complex-wide sell-off

The three-month copper price on the London Metal Exchange tumbled at the close of trading on Thursday October 1, while the rest of the complex reacted to news that US lawmakers remained at odds over the country’s pandemic relief efforts.

Alvance completes Duffel acquisition; initiates 100-day review

Alvance, the aluminium division of GFG Alliance, has completed the acquisition of Aleris’ Duffel rolling mill in Duffel, Belgium, Alvance said on Thursday October 1.

LIVE FUTURES REPORT 01/10: Fresh 15kt cancelation bolsters LME lead; nickel gains momentum

The London Metal Exchange three-month lead price rose during morning trading on Thursday October 1, with a large fresh cancelation of some 15,075 tonnes supporting the incline while LME nickel futures similarly traded in positive territory despite thin volumes.

DOWNSTREAM DISPATCH: Aluminium wheel consumer Tyre-Line sees growth in European leisure market

Tyre-Line, a UK wheel assembly manufacturer serving the caravan and automotive industry, sees opportunity for downstream demand growth going into 2021 after facing Covid-19 related challenges earlier in 2020.

PRICING NOTICE: Open consultation on IOSCO-audited non-ferrous price assessments, indices

Fastmarkets MB is inviting feedback on its audited non-ferrous price assessments and indices, as part of its annual methodology review, in compliance with IOSCO principles for price reporting agencies (PRAs).

MORNING VIEW: LME base metals prices, broader markets drift higher

Base metals prices on the London Metal Exchange and pre-market western equity index futures were for the most part firmer this morning, Thursday October 1, albeit in quiet conditions with China, Hong Kong and South Korea closed for holidays and technical problems meaning the Tokyo Stock Exchange could not open.