September 2019

LIVE FUTURES REPORT 20/09: LME lead price breaches $2,100/t; strong backwardation persists in nickel

The three-month lead price on the London Metal Exchange rose by 1.2% at the close of trading on Friday September 20, climbing beyond the $2,100 per tonne support level, while forward spreads in LME nickel tightened over the afternoon.

BATTERY RAW MATERIALS MARKET REPORT 20/09: Seaborne lithium prices grind lower amid ample supply

An overview of the battery raw materials markets and their latest price moves.

Rotterdam aluminium premiums stall on bleak spread, demand outlook

Uptrends in the spot aluminium premiums in Rotterdam have faltered with backwardations in the London Metal Exchange December/three-month and January/three-month spreads starting to put material pressure on the physical market.

SHFE STOCKS REPORT 20/09: Copper inventories fall 7% ahead of National Day holidays

Restocking by downstream consumers in preparation for China’s National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20.

Chinese scrap import quotas resold at premium to satisfy smaller operations

Some large Chinese metal scrap buyers that have been granted import quotas have been reselling their permits to smaller companies since new import restriction came into place, Fastmarkets learned.

LIVE FUTURES REPORT 20/09: LME nickel price climbs 3% on 7,000t fresh cancellation

The three-month nickel price on the London Metal Exchange was higher during morning trading on Friday September 20, buoyed by both stock removals and fresh cancellations while turnover was moderately high.

INTL STAINLESS STEEL CONF: Philippines less attractive for nickel ore investment than Indonesia – delegates

Chinese nickel consumers may be deterred from guaranteeing long-term ore supply by investing in Philippine ore production, delegates said during a panel discussion at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18.

INTL STAINLESS STEEL CONF: EV demand for nickel will eclipse stainless steel in determining price, Nornickel says

The recent sharp increase in the London Metal Exchange three-month nickel price is justified by long-term electric vehicle (EVs) demand for the metal even if it is driven by the stainless steel sector in the short term, Nornickel's head of commodity research said at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18.

MORNING VIEW: Metals prices tread water, waiting for developments on trade talks

The markets remain in limbo this morning, Friday September 20, while they wait for any news from the initial talks that are underway between deputy trade negotiators in the United States.

LIVE FUTURES REPORT 20/09: Most SHFE base metals prices drift upward; tin weakens

Base metals traded on the Shanghai Futures Exchange were largely in positive territory during the morning trading session on Friday September 20, but gains were limited owing to lingering macroeconomic concerns.