August 2020

MORNING VIEW: Dip-buying boosts copper, aluminium while others consolidate; broader markets buoyant

The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.

LIVE FUTURES REPORT 10/08: LME copper rebounds above $6,400 as data boosts sentiment

Copper futures on the London Metal Exchange sold for more than $6,400 per tonne in afternoon trading on Monday August 10, starting the week on the front foot after a slump last Friday.

LIVE FUTURES REPORT 10/08: China’s consumer inflation rise boosts LME copper; lead below $1,900/t

The London Metal Exchange three-month copper price was higher during morning trading on Monday August 10, after a steady uptick in consumer inflation figures for China’s economy while broad consolidation elsewhere led lead futures down over the morning.

MORNING VIEW: Dip buying boosts copper but other metals more wary - broader markets mixed

Markets are looking mixed this morning on Monday August 10, while traders weigh up the cross winds blowing through the markets, Fastmarkets learned.

LIVE FUTURES REPORT 07/08: LME copper price sinks 3% on news of Codelco restart; lead falls 2%

The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco’s operating facilities suppressing buying momentum.

SHFE STOCKS REPORT 07/08: Copper stocks up 8.1%; zinc down 4.4%

Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses increased by 12,942 tonnes (8.1%) to 172,455 tonnes in the week to Friday August 7, marking the largest gain in percentage terms across the base metals complex.

LIVE FUTURES REPORT 07/08: LME copper price slides 1% amid spread tightness; German export numbers impress

The three-month copper price on the London Metal Exchange was lower during morning trading on Friday August 7, with continued tightness across the front end of the metal’s forward curve deterring interest, while a marked improvement in German industrial production remains a key indicator of improving economic conditions in Europe.

LIVE FUTURES REPORT 06/08: LME nickel price nears $14,500; lead up 2% at close

The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday August 6, nearing resistance at $14,500 per tonne despite moderate turnover, while lead futures continued to rise against a positive forward curve.

Peru's zinc output up y-o-y in June; copper production falls

Base metal production in Peru continued to recover in June while mines reopened after a two-month lockdown to combat Covid-19, with copper and zinc production back up to January levels, the country’s ministry of energy and mines, Minem, said on Wednesday August 5.

Peru's Alpayana suspends zinc-lead mine; Covid-19 remains hurdle for miners

Peruvian zinc-lead-silver miner Alpayana, formerly known as Casapalca, has temporarily shut its mining complex, with mining companies across the country struggling to operate through the Covid-19 pandemic.