July 2020

MORNING VIEW: Metals pause for thought, but remain buoyant overall

Markets were mixed this morning, Friday July 3, with Asian-Pacific equities generally higher and pre-market western equity index futures weaker, while the base metals and precious metals were mixed.

LIVE FUTURES REPORT 02/07: Positive US jobs data boosts LME base metals; copper spread narrows

Three-month prices for base metals on the London Metal Exchange were higher at the close of trading on Thursday July 2, with positive employment statistics from the United States lending support to the complex, while forward-buying in LME copper futures prompted a tightening of the metal’s forward curve.

HOTTER ON METALS: Looking for (LME) options

The London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.

Shanxi Securities hire execs Shi, Liu to commodities trading business

Scott Shi and Ben Liu have joined Shanxi Securities while the Chinese brokerage company looks to enhance its commodities business, Fastmarkets understands.

LIVE FUTURES REPORT 02/07: LME zinc price tops morning gains in 1.1% climb; nickel nears $13,000/t despite fresh inflow

The three-month zinc price on the London Metal Exchange was the highest climber among the base metals complex during morning trading on Thursday July 2, supported by strong buying during Asian trading hours, while an 810-tonne inflow failed to stop LME nickel’s price incline.

MORNING VIEW: Markets buoyant on vaccine hope; all eyes on today’s US employment report

Markets participants are in an optimistic mood while they focus on economic data that is improving and hopes of a Covid-19 vaccine this morning, Thursday July 2, while apparently choosing not to focus on the havoc that the pandemic is causing.

Shanghai bonded copper, aluminium stocks fall on open arb; zinc, nickel inventories up

Copper stocks at Shanghai bonded warehouses fell to a fresh all-time low at the end of June following the reopening of the import arbitrage window in China, while aluminium inventories also declined for the same reason.

IN CASE YOU MISSED IT: 5 key stories from July 1

Here are five Fastmarkets stories you might have missed on Wednesday July 1 that are worth another look.

EU should eliminate tariffs on low-carbon aluminium, En+ Group chair says

Tariffs on low-carbon aluminium imports into the European Union should be eliminated to help power the region’s Covid-19 recovery package and climate transition strategy, according to the chairman of En+ Group.

US metals groups cheer as USMCA takes effect

Industry associations up and down the steel and metals supply chain applauded the United States-Mexico-Canada Agreement (USMCA) trade pact going into effect on Wednesday July 1.