May 2020

Triland cancel LME Week party due to Covid-19; LME 'evaluating' all events

Triland Metals has cancelled its annual party, which was set to take place during LME Week in London on Monday October 19.

LIVE FUTURES REPORT 26/05: LME copper price up 1.5%; 25k inflow of aluminium at Port Klang

Three-month base metals prices on the London Metal Exchange were mostly up during morning trading on Tuesday May 26, with copper giving the best performance of the complex in terms of percentage gains.

MORNING VIEW: Strong gains in broader markets show confidence in recovery is improving, but US-China trade dispute affecting metals

Broad markets were stronger this morning, Tuesday May 26, with many Asian-Pacific equity indices up by around 2%, while pre-market major western equities were up by around 1% but metals prices were mixed.

IN CASE YOU MISSED IT: 5 key stories from May 22

Here are five Fastmarkets stories you might have missed on Friday May 22 that are worth another look.

Miners, smelters can’t cut corners when curtailing production, former Anglo CEO says

Miners and processors considering production cuts cannot ignore safety or care and maintenance, including of associated asset infrastructure, the former chief executive officer of Anglo American said.

Post-Covid-19 changes likely permanent, former Anglo American CEO says

The metals and mining industry will need to make permanent, fundamental changes to the way it operates as a result of the Covid-19 pandemic, the former chief executive of Anglo American told Fastmarkets.

LIVE FUTURES REPORT 22/05: LME metal price rally trips on underwhelming NPC start

LME base metals fell at the final hurdle this week, with prices slumping on Friday May 22 after having been on course for their best performing week of the year.

COPPER CONCS SNAPSHOT: TC/RC rise with more smelters buying on spot

Fastmarkets’ benchmark copper concentrates treatment and refining charge (TC/RC) index rose on Friday May 22 for first time since the beginning of April after more smelters returned to the spot market this week.

Metal traders take LC 'haircuts' after banks get picky on commodity finance

Metals traders have begun to feel the pinch after a turbulent period in commodity markets have caused some banks to step back from fully financing cargoes under letters of credit (LC).

SHFE STOCKS REPORT 22/05: Almost all inventories fall; copper stocks plunge 16%

Deliverable stocks of all base metals except lead in Shanghai Futures Exchange-approved warehouses fell in the week to Friday May 22.