August 2020

LME aluminium queue at Istim’s Port Klang sheds rise to 68 days

The waiting time for aluminium to be delivered from Istim’s warehouse in Port Klang, Malaysia, rose to 68 days at the end of July, according to the latest London Metal Exchange queue report, up from 34 days at the end of June.

LIVE FUTURES REPORT 10/08: China’s consumer inflation rise boosts LME copper; lead below $1,900/t

The London Metal Exchange three-month copper price was higher during morning trading on Monday August 10, after a steady uptick in consumer inflation figures for China’s economy while broad consolidation elsewhere led lead futures down over the morning.

SHFE launches aluminium, zinc options trading; more risk management tools on the way

The Shanghai Futures Exchange launched aluminium and zinc options contracts on Monday August 10 to meet growing desire for the important risk management tool, the exchange chairman said.

MORNING VIEW: Dip buying boosts copper but other metals more wary - broader markets mixed

Markets are looking mixed this morning on Monday August 10, while traders weigh up the cross winds blowing through the markets, Fastmarkets learned.

IN CASE YOU MISSED IT: 5 key stories from August 7

Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look.

US Midwest aluminium premium logs record jump on Section 232 news

The Midwest aluminium premium soared by 5 cents on Friday August 7, logging its largest increase since Fastmarkets began assessing this premium in January 2003, with traders boosting offers on replacement cost considerations after the US reintroduced Section 232 tariffs on Canadian aluminium.

US aluminium scrap prices tick up on steady demand

Secondary aluminium scrap prices in the United States rose week on week amid a slight uptick in business and some pricing pressure from exports, although consumers were still being cautious.

LIVE FUTURES REPORT 07/08: LME copper price sinks 3% on news of Codelco restart; lead falls 2%

The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco’s operating facilities suppressing buying momentum.

Europe aluminium premiums stable but all eyes on Canadian tariffs

The return of Section 232 tariffs on imports of Canadian aluminium has made European market participants nervous of excess stock arriving from Canada, which could pressure premiums, Fastmarkets heard on Friday August 7.

SHFE STOCKS REPORT 07/08: Copper stocks up 8.1%; zinc down 4.4%

Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses increased by 12,942 tonnes (8.1%) to 172,455 tonnes in the week to Friday August 7, marking the largest gain in percentage terms across the base metals complex.