July 2020

LME publishes off-warrant stocks data showing extra 1 mln tonnes of Al off-warrant

The London Metal Exchange has released off-warrant stock data to the market in a bid to increase transparency of global metal availability.

Traxys signs agreement to market Alu Iberica products

Trading house Traxys has agreed to a partnership with Alu Iberica, which consists of the La Coruña and Aviles aluminium smelters in Spain, sources with knowledge of the matter have told Fastmarkets.

LIVE FUTURES REPORT 09/07: LME copper rallies to $6,300 at close; nickel falls 1.5%

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday July 9, continuing to test levels last seen in January despite a volatile forward curve, while nickel lost ground into the afternoon despite high turnover across the base-metals complex.

LIVE FUTURES REPORT 09/07: LME copper price soars 2% to breach $6,350/t; 15,000t fresh cancellation in zinc

The three-month copper price on the London Metal Exchange was higher during morning trading on Thursday July 9, with price action pushing firmly above nearby resistance levels, while a sizeable fresh cancellation in LME zinc stocks saw the metal’s underlying price also rally.

PEOPLE MOVES: Sucden appoints Socgen’s Alan Burr to Hong Kong LME metals desk

UK Trading house Sucden Financial has appointed ex-Société Générale metals trading head Alan Burr to its London Metal Exchange metals and options desk in Hong Kong, the company said on Thursday July 9.

MORNING VIEW: Metals stronger as supply fears dominate, especially for copper, zinc

Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc.

Rio Tinto to close Tiwai Point aluminium smelter in 2021

Rio Tinto is to close its New Zealand Aluminium Smelter (NZAS) in Tiwai Point after a strategic review showed the business is no longer viable due to high energy costs and a challenging industry outlook, the company said.

IN CASE YOU MISSED IT: 5 key stories from July 8

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.

BASE METALS WARRANT REPORT 08/07

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 8.

LIVE FUTURES REPORT 08/07: LME aluminium price rallies to three-month high in high-vol trading

The London Metal Exchange three-month aluminium price closed at its highest since March 16 on Wednesday July 8, up 1.8% on the previous day’s close at $1,665 per tonne after 20,000 lots changed hands over the course of the trading day.