January 2020

LIVE FUTURES REPORT 29/01: LME aluminium price capped by 26.5kt fresh inflow

Upside potential in the London Metal Exchange three-month aluminium price was capped during morning trading on Wednesday January 29, dampened by a significant 26,525-tonne fresh inflow of material into LME-approved sheds in Port Klang, Malaysia.

FOCUS: China's virus lockdown puts copper sellers, smelters in logistical bind

The outbreak of a coronavirus has led to the prolonged closure of Chinese businesses, triggering delays in logistical operations with copper market participants looking to ship cathodes and concentrates into the country.

GLOBAL COPPER WRAP: European premiums steady despite drop in LME price; US rate softens in quiet market

Copper premiums in Europe were stable in the week ended Tuesday January 28 after a drop in the three-month copper price on the London Metal Exchange failed to stimulate demand for the metal.

IN CASE YOU MISSED IT: 5 key stories from January 28

Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.

LIVE FUTURES REPORT 28/01: LME nickel, copper hit fresh lows on risk-off selling

The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China’s growing coronavirus epidemic.

Chilean copper output to rise by 20% until 2030, Cochilco says

Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country’s copper commission Cochilco announced.

LIVE FUTURES REPORT 28/01: LME nickel climbs 0.2% in dip-buying; copper holds at $5,700/t

The London Metal Exchange three-month nickel price was slightly higher during morning trading on Tuesday January 28, with dip-buying momentum prompting a marginal uptick, while copper futures failed to gather momentum.

PEOPLE MOVES: Glencore names Mike Westerman acting head of copper assets

Glencore have appointed Mike Westerman to the position of acting head of copper assets following the departure of Mike Ciricillo.

LIVE FUTURES REPORT 27/01: Risk-aversion sees LME base metals prices crumble; zinc loses 3.6%

Base metals prices on the London Metal Exchange were significantly lower at the close of trading on Monday January 27, with the majority of three-month prices across the complex down by some 2% because of continued risk-aversion in commodity markets, with zinc futures leading the retreat to close at a six-week low.

APEX 2019: Bank Muscat, INTL FCStone/Ed Meir, ABN Amro clinch top spots

Bank Muscat’s Nishant Bhavsar and Ajit Mauskar led Fastmarkets’ Apex 2019 leaderboard for base metals analysis with an accuracy rate of 97.93%.