May 2021

LIVE FUTURES REPORT 28/05: LME metals end week on strong footing; tin at $30,400

Nickel’s price was up by more than 5% on the London Metal Exchange and tin’s was up by 4.3% since the start of the week, with bullish momentum returning to the base-metals complex on Friday May 28 and all metal prices finishing higher than at the start of the week.

SHFE STOCKS REPORT 28/05: Most base metal inventories decline; tin down 13%

Base metals, with the exception of lead, registered declining inventories in Shanghai Futures Exchange-registered warehouses in the week to Friday May 28, with tin the biggest faller - down 13%.

LIVE FUTURES REPORT 28/05: Tin at new decade high on LME, other prices consolidate

Tin was the standout performer on the morning of Friday May 28, reaching a new year-to-date peak of $30,800 per tonne, while other LME futures prices had a more up-and-down start, with some having ended the Thursday session with increases of more than 3%.

MORNING VIEW: Consolidation over as base metals surge on numerous drivers

Base metals prices on the Shanghai Futures Exchange were up across the board while those on the London Metal Exchange were mixed during the morning of Friday May 28. This followed surging prices on Thursday.

IN CASE YOU MISSED IT: 5 key stories from May 27

Here are five Fastmarkets stories you might have missed on Thursday May 27 that are worth another look.

Canada to work with allies on natural resources supply chains, official says

Canada will seek to work with its allies and partners to develop supply chains that will help them to meet global climate goals, according to the associate deputy minister at the Department of Natural Resources Canada (NRCan).

LIVE FUTURES REPORT 27/05: Zinc, aluminium, nickel all up 3%-plus; copper above $10,200

Copper’s 2.4% price rise at the close of trading on Thursday May 27, supported by the start of a strike at BHP’s operations center in Chile, led the rest of the London Metals Exchange base-metals complex higher, making it the first day of strong rises following a week of lower prices.

Rio Tinto in JV to develop aluminium alloys for EV, 5G antennae

Rio Tinto is partnering with Swedish research and development firm Comptech AB to bring a new generation of aluminium alloys to the market for use in advanced technologies, such as electric vehicles (EV) and 5G antennas, the UK-listed mining company said.

Activists, shareholders notch climate victories vs ExxonMobil, Shell, Chevron

Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.

Tight holdings, contango prompt non-queued aluminium warrants to soar in Port Klang

A combination of a contango and tight holdings of non-queued material has sent aluminium warrant premiums in Southeast Asia to new highs this week.