June 2021

LIVE FUTURES REPORT 28/06: LME base metals prices hold on to Friday levels; aluminium stocks continue to fall

London Metal Exchange base metals prices were in a consolidation tone on the morning of Monday June 28, after a pick-up during the latter part of last week.

MORNING VIEW: Base metals start week mainly on a back foot

Base metals prices on the London Metal Exchange were weaker on the morning of Monday June 28, while those on the Shanghai Futures Exchange were more mixed.

IN CASE YOU MISSED IT: 5 key stories from June 25

Here are five Fastmarkets MB stories you might have missed on Friday June 25 that are worth another look.

Russia sets export duties on 340 metal products [CORRECTED]

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree.

LIVE FUTURES REPORT 25/06: Nickel up 6% from Monday, aluminium rises 3.4%

Nickel and aluminium gained the most in percentage terms on the London Metal Exchange this week, with a set of country-specific announcements setting the tone for the complex and leading all base metals prices higher.

SHFE STOCKS REPORT 25/06: Most base metal inventories down sharply; zinc down by 30%

Following a drop of 10.9% the week prior, deliverable zinc stocks in Shanghai Futures Exchange-registered warehouses slumped by 30% in the week to Friday June 25, the highest in percentage terms among the base metals complex.

On-warrant LME stocks at 15-month low send bullish signals for aluminium market

Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020.

LIVE FUTURES REPORT 25/06: Second day of copper inflows on LME, prices tread upward

Copper’s three-month price rose slightly on the morning of Friday June 25, despite another day of inflows into LME warehouses, while the rest of the London Metal Exchange prices also edged upwards.

MORNING VIEW: Base metals firmer in Shanghai, mixed in London

While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.

ENERGY TRANSITION: US too import-dependent to meet net-zero goals, think tank exec says

The shrinking metals and minerals processing industry in the United States is not up to the job required for the decarbonized transition of the country’s energy infrastructure, according to a senior fellow at New York-based think tank Manhattan Institute.