February 2020

LIVE FUTURES REPORT 21/02: Downward pressure sees LME nickel price down 1.4%; lead fails to hold gains

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.

SHFE STOCKS REPORT 21/02: Aluminium stocks soar by nearly 21%; zinc up by over 17%

Aluminium stocks in Shanghai Futures Exchange-approved warehouses increased the most in percentage terms in the week to Friday February 21, with inventories up by 20.9% to 409,635 tonnes.

LIVE FUTURES REPORT 21/02: LME nickel in 1.3% decline; copper little moved after 14kt fresh cancelation

The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday February 21, with its price action now testing support at $12,500 per tonne, while a 14,000-tonne fresh cancelation failed to bolster copper’s futures price.

MORNING VIEW: Metals mainly weaker after coronavirus concerns escalate again

The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.

LIVE FUTURES REPORT 21/02: SHFE base metals prices weaken on coronavirus jitters; Pb edges up by 0.2%

Base metals prices on the Shanghai Futures Exchange were broadly down at the close of morning trading on Friday February 21, with risk appetite weakening due to a rise in novel coronavirus (2019-nCoV) cases outside of China.

Chinese alumina price drifts higher on further disruptions to production

The price of alumina in China continued to trend upward this week following reports that more refineries in the country are having to halt some of their capacity due to a shortage of raw materials amid transport restrictions.

IN CASE YOU MISSED IT: 5 key stories from February 20

Here are five Fastmarkets stories you might have missed on Thursday February 20 that are worth another look.

LIVE FUTURES REPORT 20/02: LME zinc price tops losses in 1.3% slide; nickel closes below $12,700

The three-month zinc price on the London Metal Exchange was lower at the close of trading on Thursday February 20, falling by more than 1% but holding above the nearby support level, while nickel failed to reduce its losses despite low turnover.

ALUMINA ROUND-UP: Australia fob index at five-month high on new China deal

Alumina prices on an fob Australia basis have gone up over the past week due to a high-priced deal for material destined for China, but market participants were still searching for clarity on market conditions on Thursday February 20.

LIVE FUTURES REPORT 20/02: Fresh inflows pressure LME nickel price below $12,800/t; Al sinks despite stock drawdown

The three-month nickel price on the London Metal Exchange was lower during morning trading on Thursday February 20, with price action pressured by continued inflows of material into LME-registered warehouses, while aluminium futures neared the $1,700-per-tonne support level.