April 2021

WEEKLY BASE METAL PREMIUMS REPORT: 20/04

A summary of base metals premiums from across the globe for the week to Tuesday April 20.

LIVE FUTURES REPORT 20/04: LME Lead down 1.3%, nickel at lowest in 3 weeks

The price of nickel was $16,038 per tonne at the close of trading at 5pm on Tuesday, its lowest closing price for three weeks, while most other futures prices on the London Metal Exchange also fell off their recent gains on Tuesday April 20.

AT A GLANCE: Rio Tinto Q1 refined copper production up 25%; Al up 3%

A summary of Rio Tinto’s first-quarter production and its updated production guidance for 2021, as the company released on Tuesday April 20.

AT A GLANCE: Vale copper output down in Q1; 2021 guidance cut

A summary of Brazilian miner Vale’s base metals production results for the first quarter of 2021, as stated in its production report published on Monday April 19.

PEOPLE MOVES: Paul Crone joins BlueCrest Capital Management

Paul Crone has joined alternative asset management firm BlueCrest Capital Management in a London-based portfolio manager role.

AT A GLANCE: Nornickel Q1 copper, nickel output falls

A summary of Russian miner Nornickel's production results for the first quarter of 2021 as stated in a company announcement released on Monday April 19.

LIVE FUTURES REPORT 20/04: LME nickel rebounds, copper at $9,400/t; fresh Al cancellations in Rotterdam

The London Metal Exchange three-month nickel price rebounded on Tuesday April 20 morning following its 1.5% dip on Monday at the close, while copper continued its price rise.

MORNING VIEW: LME base metals prices up across the board, broader markets weaken

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday.

LIVE FUTURES REPORT 19/04: LME nickel down 1.5%, copper above $9,300

Three-month prices for base metals on the London Metal Exchange showed mixed fortunes at the close of trading on Monday April 16, despite the US Dollar Index being at a six-weeks low, with only copper showing a gain a of more than 1%, and nickel falling from its Friday price.

FOCUS: What do sinking China premiums say about copper's bull price rally?

It seems that copper's biggest market has soured on the metal. Premiums paid over exchange prices for copper cathodes imported into China have fallen in recent weeks, dropping to a five-month low in a decline that shows no signs of slowing down.