July 2019

LIVE FUTURES 19/07: Copper up 1.65% on strong volumes; nickel down

Base metals prices on the London Metal Exchange showed mixed results at the close of trading on Friday July 19, with continuing trade tensions and uncertainty at the United States Federal Reserve driving directionless trading across the complex.

MMG AT A GLANCE: Q2 production results, full-year guidance

MMG’s production results for the second quarter of 2019 and the full-year production guidance.

SHFE STOCKS REPORT 19/07: Copper stocks rise over 6% amid low demand, renewed US-China trade concerns

Copper inventories held in Shanghai Futures Exchange-approved warehouses increased by 6.4% week on week as of Friday July 19 amid weak domestic demand and renewed concerns over the possible escalation of trade tensions between the United States and China, the world’s two largest economies.

EXCLUSIVE: LME to go ahead with QBRC reform; warehouse consultation expected

The London Metal Exchange will continue to push forward with relaxing its queue-based rent capping (QBRC) rule, a key area of warehousing reform, to 80 days, sources told Fastmarkets.

Going naked on sliding zinc cost Nyrstar $35mln in H1; Port Pirie lead outage quantified

Nyrstar lost €31 million ($34.8 million) as a result of closing out inventory zinc and lead hedges in the first half of the year, the company said on Friday July 19.

LIVE FUTURES REPORT 19/07: LME nickel price softens amid moderate turnover; copper rallies above $6,000/t

Nickel’s three-month price on the London Metal Exchange was lower during morning trading on Friday June 19, with the metal’s weeklong price rally cooling across Asian trading hours.

MORNING VIEW: LME base metals prices spurred higher by dovish Fed speech, weaker dollar

Comments from US Federal Reserve officials overnight appeared dovish after New York Federal Reserve president John Williams stressed at the annual meeting of the Central Bank Research Association that “it is better to take preventative measures than to wait for disaster to unfold”.

LIVE FUTURES REPORT 19/07: SHFE copper up 1.7% amid weaker dollar; zinc down 0.4%

Barring those for zinc, base metals prices on the Shanghai Futures Exchange were all up during morning trading on Friday July 19 following a retreat in the dollar index overnight.

IN CASE YOU MISSED IT: 5 key stories from July 18

Here are five Fastmarkets MB stories you might have missed on Thursday July 18 that are worth another look.

LIVE FUTURES REPORT 18/07: LME nickel rallies above $15,000/t in 3.5% rise; lead up 2%

Nickel’s three-month price on the London Metal Exchange continued its rally throughout afternoon trading on Thursday July 18, closing just below $15,000 per tonne amid a continued flurry of technical buying and a seven-year low in LME stocks.