April 2020

SUBSCRIBER NOTICE: Suspension of Asia-hours Live Futures Reports

Fastmarkets will suspend the publication of the first Live Futures Report of the day from Monday April 6.

PEOPLE MOVES: Sucden hires fund manager Hodge to build price averaging business

Thomas Hodge is the new head of London Metal Exchange average price trading at commodity broker Sucden Financial, the company said in a notice on Wednesday April 1.

Shanghai-bonded copper inventory rise slows on resumed trading activity; nickel registers stock drop

Trading interest for bonded copper returned in March - especially in the latter half - capping the rise in copper inventories in Shanghai-bonded warehouses in the month to March 31, while nickel registered a stock decline on intermittent arbitrage opportunities.

LIVE FUTURES REPORT 01/04: LME base metals prices weaken on waning optimism

Three-month base metals prices on the London Metal Exchange were capped during the morning session on Wednesday April 1, with the previous day’s gains wiped out after a brief rally precipitated by positive data from China and month-end book squaring abruptly halted.

Key takeaways from the latest Base Metals Market Tracker

The latest forecast from Fastmarkets’ team of analysts is ready to view.

MORNING VIEW: Volatility in metals prices likely to increase ahead of key economic data

China’s Caixin manufacturing purchasing managers’ index (PMI) was released earlier on Wednesday April 1; it rebounded to 50.1 in March from 40.3 in February, which supports the rebound in the official PMI data released on Tuesday - another sign that purchasing managers reported conditions were just “better” in March than they were a month earlier.

LIVE FUTURES REPORT 01/04: Most SHFE base metals prices supported by China’s better-than-expected data

Base metals prices on the Shanghai Futures Exchange were broadly up during the morning trading session on Wednesday April 1, with the complex buoyed by the release of better-than-expected data from China.

GLOBAL ALUMINIUM WRAP: Rotterdam duty-paid premium sinks to 14-month low; US, Japanese markets also weaken

The duty-paid Rotterdam premium sank to a 14-month low on Tuesday March 31, while premiums also declined in the United States and Japan, as disruptions stemming from the Covid-19 pandemic continue to stifle demand.

HOTTER ON METALS: US infrastructure bill idea revived as Covid-19 tightens grip

A much vaunted infrastructure bill could be back on the agenda again while the United States moves to shore up its economy and stem job losses amid the Covid-19 pandemic.