February 2020

NEWSBREAK: LME Week Asia 2020 seminar postponed, dinner canceled

The LME Week Asia 2020 seminar has been postponed and the LME Asia Dinner has been canceled, due to the coronavirus outbreak, the London Metal Exchange said on Friday February 14.

MORNING VIEW: Metals prices consolidate near recent highs, waiting for fresh news

With no let-up in the number of coronavirus (2019-nCov) infections in China, the market is this morning, Friday February 14, waiting for signs that the virus is being contained.

LIVE FUTURES REPORT 14/02: SHFE base metals' trade paths diverge

Base metals prices on the Shanghai Futures Exchange diverged during the morning trading session on Friday February 14 amid sustained concerns over the novel coronavirus (2019-nCoV) situation in China.

LIVE FUTURES REPORT 13/02: Strong rebound sees LME lead up 1.7%; copper nears $5,800

The three-month price for lead on the London Metal Exchange was higher at the close of trading on Thursday February 13, nearing the $1,900 per tonne resistance level on a 1.7% uptick, while a positive close for LME copper saw it also approach nearby resistance.

LIVE FUTURES REPORT 13/02: Fresh 540t inflow does little to pressure LME tin price; lead tops gains

The three-month tin price on the London Metal Exchange consolidated during morning trading on Thursday February 13, with price action little affected by a 540-tonne inflow into LME-registered warehouses across Malaysia and Singapore, while lead futures gathered momentum over the morning.

MORNING VIEW: Markets weaker as changes in coronavirus data cause more uncertainty

A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.

LIVE FUTURES REPORT 13/02: SHFE base metals prices broadly up; Al bucks trend

With the exception of those for aluminium, base metals prices on the Shanghai Futures Exchange ended the morning trading session on Thursday February 13 slightly higher than their closes on Wednesday.

LIVE FUTURES REPORT 12/02: Low liquidity nudges LME copper price up; nickel holds above $13,000

The three-month price of copper on the London Metal Exchange edged higher at the close of trading on Wednesday February 12, staying firmly above the $5,700 per tonne support level despite low turnover, while nickel similarly held above nearby support.

GLOBAL ZINC & LEAD WRAP: Indian lead premium jumps to highest since July 2019; zinc premiums steady

A falling London Metal Exchange lead price boosted buying interest in India, bringing the primary lead ingot premium to a seven-month high, but a switch in the zinc price spread to contango failed to entice appetite for the galvanizing metal in the week to Tuesday February 11.

LIVE FUTURES REPORT 12/02: LME aluminium holds amid 12kt outflow, 15kt fresh cancelation

The London Metal Exchange three-month aluminium price held firm amid a 12,425-tonne outflow of material and a 15,075-tonne fresh cancelation during the morning session on Wednesday February 12.