October 2018

Copper concentrate charges down 1.8%, backwardation shrinks liquidity

Spot copper concentrate treatment and refining charges (TCs/RCs) fell 1.8% toward the end of October while a rapidly widening backwardation reduced market liquidity.

GLOBAL NICKEL WRAP: Open import window in China pushes premiums upward

Nickel premiums in China rose on Tuesday October 30, on an opening import arbitrage. The physical nickel markets in Europe and the United States were relatively quiet.

LIVE FUTURES REPORT 31/10: Downward momentum builds for LME base metals prices

Base metals prices on the London Metal Exchange ended mostly lower Wednesday October 31, pressured by a fresh 2018 high in the US dollar index.

GLOBAL TIN WRAP: European premium continues ascent; US, China premiums steady

The tin premium in Europe accelerated to a 21-month high on concerns surrounding Indonesian tin supply, while premiums in the United States and in Asia were immobile on sufficient supply.

LIVE FUTURES REPORT 31/10: Comex copper stages minor recover in midweek session

Comex copper prices recovered from a mid-September low in early morning trading on Wednesday in the United States, with a stronger dollar and modest Chinese growth preventing a major rebound.

INTL LEAD & ZINC CONF: China’s lead output to retreat by 2020 on environmental controls – CNIA

China’s lead production is estimated to moderately decrease by 2020 due to the stringent environmental regulations, a spokesperson of the China Non-ferrous Industry Association (CNIA) told delegates at the 21st China International Lead and Zinc Conference on October 31.

Xiana Mining agrees Bluequest financing for $25 million Glencore copper mine buy

Xiana Mining will acquire Glencore’s Minera Altos De Punitaqui copper mine in Peru for $25 million, after sealing a financing package with Swiss trading firm Bluequest.

NORTH AMERICAN MORNING BRIEF 31/10: Refined zinc market in deficit in 2019; Vietnam new 1-mln-tpy billet mill; China’s HRC prices fall

The latest metal markets news and price moves to start the North American day on Wednesday October 31.

SHFE vs LME physical arbitrage 31/10: Copper, aluminium, zinc, nickel

Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 31*

LIVE FUTURES REPORT 31/10: New 2018 high for USD drowns LME base metals; lead down on 14kt rewarranting

Base metals on the London Metal Exchange consolidated lower during morning trading on Wednesday October 31, with downward pressure emerging from broad corrections in key indices such as the S&P 500 and Dow Jones Industrial Average, while dollar strength continues to hamper investment.