October 2020

LIVE FUTURES REPORT 01/10: LME copper price plunges 5% in complex-wide sell-off

The three-month copper price on the London Metal Exchange tumbled at the close of trading on Thursday October 1, while the rest of the complex reacted to news that US lawmakers remained at odds over the country’s pandemic relief efforts.

Supervisors' union at BHP's Escondida copper mine in Chile vote to strike

Members of Union No2 representing supervisors at the Chilean Escondida copper mine, operated by BHP, voted to strike following unsuccessful labor negotiations with the company, Union No1 said on Wednesday September 30.

Lundin's Chapada copper-gold mine to restart at 30% capacity

Canada-headquartered Lundin Mining expects to partially resume operations at its Chapada copper-gold mine in the Midwestern Brazilian state of Goiás within a week and return to full capacity usage in two months, the company said on Tuesday September 29.

LIVE FUTURES REPORT 01/10: Fresh 15kt cancelation bolsters LME lead; nickel gains momentum

The London Metal Exchange three-month lead price rose during morning trading on Thursday October 1, with a large fresh cancelation of some 15,075 tonnes supporting the incline while LME nickel futures similarly traded in positive territory despite thin volumes.

Blister copper RC reaches 15-month high in September

The refining charge (RC) for blister copper brought into China rose by 1.7% on Wednesday September 30 to its highest since June 2019, due to reported higher availability of domestic units and lackluster buying from smelters.

PRICING NOTICE: Open consultation on IOSCO-audited non-ferrous price assessments, indices

Fastmarkets MB is inviting feedback on its audited non-ferrous price assessments and indices, as part of its annual methodology review, in compliance with IOSCO principles for price reporting agencies (PRAs).

MORNING VIEW: LME base metals prices, broader markets drift higher

Base metals prices on the London Metal Exchange and pre-market western equity index futures were for the most part firmer this morning, Thursday October 1, albeit in quiet conditions with China, Hong Kong and South Korea closed for holidays and technical problems meaning the Tokyo Stock Exchange could not open.

GLOBAL COPPER WRAP: Spread flip bolsters Shanghai premiums; US, Europe steady amid large inflows [CORRECTED]

The return of a contango across LME copper's benchmark cash/three-month spread prompted fluctuations across Asian physical premiums this week, after sizeable cargoes were delivered into LME-registered warehouses.