November 2019

LIVE FUTURES REPORT 18/11: Downward pressure mounts for LME aluminium price after 92,000-tonne inflow; nickel holds below $15,000 per tonne

The three-month aluminium price on the London Metal Exchange was lower during morning trading on Monday November 18, with continuing inflows of material into LME-registered warehouses in Asia fueling selling pressure.

LIVE FUTURES REPORT 18/11: Nickel leads SHFE base metals downward with 2% drop

Base metals prices on the Shanghai Futures Exchange were down across the board during the morning trading session on Monday November 18, with nickel giving the worse performance of the complex while the metal’s prices continue to correct following a strong run-up between June and September.

IN CASE YOU MISSED IT: 5 key stories from November 15

Here are five Fastmarkets MB stories you might on Friday November 15 that are worth another look.

LIVE FUTURES REPORT 15/11: LME nickel price fails to recover above $15,000/t; tin tops losses

The three-month nickel price on the London Metal Exchange was unable to close above nearby resistance amid low turnover on Friday November 15, while tin topped losses in a 1.2% downturn.

CNIA calls for domestic Chinese alumina producers to ‘cool’ overheated supply

The vice president of China Nonferrous Industry Association (CNIA) has called for domestic producers to produce less alumina and undertake “rational investment on alumina new projects” to cool China’s enthusiasm for production that began in 2018.

LIVE FUTURES REPORT 15/11: Selling pressure brings LME nickel price below $15,000/t; fresh 46kt inflow for Al

The three-month nickel price on the London Metal Exchange dropped below the nearby $15,000 per tonne support level during morning trading on Friday November 15, while there was another fresh inflow for aluminium.

SHFE STOCKS REPORT 15/11: Lead stocks soar by 33%; nickel up by 18%

Lead stocks at Shanghai Futures Exchange-approved warehouses recorded the largest increase in percentage terms in the week ended Friday November 15, with the heavy metal’s stocks now up by 79.3% since the beginning of the month.

MORNING VIEW: Countertrend moves underway in base metals despite risk-on in equities

There are cross currents flowing through broader markets, risk-on is still evident in equities, base metals are generally pulling back in countertrend moves from the stronger tone seen in October and early November and there is some nervousness around judging by the pick-up in demand for havens in recent days.

LIVE FUTURES REPORT 15/11: SHFE base metals prices largely down on disappointing Chinese data

Base metals prices on the Shanghai Futures Exchange were broadly down during the morning trading session on Friday November 15, with nickel giving the worst performance of the complex with a 2.7% drop.

LIVE FUTURES REPORT 14/11: LME aluminium price narrows while spreads flip to contago; zinc slips below $2,400

The three-month aluminium price on the London Metal Exchange was lower at the close of trading on Thursday November 14, closing at its lowest level since late-October, while zinc’s outright price similarly fell to its lowest level in just over a month.