July 2019

BASE METALS WARRANT REPORT 31/07

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 31.

GLOBAL ZINC & LEAD WRAP: European zinc premiums slide as backwardation returns; US, Asia lead unchanged

Zinc premiums dipped in Europe but were flat elsewhere, reflecting the onset of the summer slowdown, although US demand for lead and zinc is reportedly improving.

LIVE FUTURES REPORT 31/07: LME nickel price ignores imminent Fed rate cut; lead closes above $2,000/t

The three-month nickel price on the London Metal Exchange climbed by 1.4% at the close of trading on Wednesday July 31, shaking off downward momentum emanating from an expected US Federal Reserve interest rate cut and subsequent dollar incline.

GLOBAL NICKEL WRAP: US briquette premium narrows with business concluding at higher levels; EU, China flat [CORRECTED]

The US nickel briquette premium narrowed in the week to Tuesday July 30 with the material no longer being offered or traded at lower premium levels, while the nickel premium markets in China and Europe were quiet on a lack of import incentive and summer slowdowns respectively.

GLOBAL TIN WRAP: US premiums slip on weak fundamentals; Europe, Asia premiums hold ground

Premiums for tin ingot in the United States edged lower this week, primarily due to a lack of fundamental support in the domestic market, while a declining London Metal Exchange tin price further exacerbated business conditions, but did little to budge European and Asian premiums.

NORNICKEL AT A GLANCE: Q2 refined nickel output falls 4% due to scheduled maintenance

A summary of Nornickel’s production results for the first half of 2019

Alcoa completes sale of Spanish aluminium plants to Parter Capital Group

Swiss private equity firm Parter Capital Group AG has completed the purchase of Alcoa’s Avilés and La Coruña aluminium plants in Spain, the producer said on Wednesday July 31.

Trafigura completes Nyrstar restructure, HQ will move to Netherlands

Global integrated miner Nyrstar will be run as an independently operated company within the Trafigura group after a deal was concluded with its creditors and completed on Wednesday July 31.

GLOBAL NICKEL WRAP: Premiums flat around the world

The nickel premium market in China was quiet in the week to Tuesday July 30, with the incentive to import now gone while premium discounting has receded in the United States and Europe is starting to feel the summer slowdown.

LME lead’s 43% stock rise this week topples view of shortage after Port Pirie force majeure

Dramatic inflows of lead stock into London Metal Exchange warehouses this week have challenged the market notion of physical tightness following a suspension at Nyrstar’s Port Pirie smelter, which has been cited as the key driver of a recent surge in the lead price.