November 2019

LIVE FUTURES REPORT 29/11: LME nickel sheds 2.3%; Al spread backwardations widen despite inflows

The three-month price of nickel traded on the London Metal Exchange continued its descent below $14,000 per tonne to close at $13,675 per tonne on Friday 29, down by 2.3%, amid stainless steel demand concerns and ongoing macro tension between the United States and China.

SHFE STOCKS REPORT 29/11: Base metals stocks mostly lower, copper inventories fall 11%

Copper stocks at Shanghai Futures Exchange-approved warehouses recorded the largest drop in percentage terms in the week ended Friday November 29.

LIVE FUTURES REPORT 29/11: 42kt of aluminium flows into LME warehouses

A significant 42,050 tonnes of aluminium was put back into London Metal Exchange-approved warehouses on the morning of Friday November 29 while metal holders’ bids to put nearby spreads into contango continue but as yet remain unsuccessful.

LIVE FUTURES REPORT 29/11: SHFE base metals prices mixed amid risk-off sentiment; nickel falls 1.1%

Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Friday November 29, with the complex under pressure following a pick-up in tensions between China and the United States.

LIVE FUTURES REPORT 28/11: LME base metals prices capped by low volumes

Base metals prices traded on the London Metal Exchange were little changed at the close on Thursday November 28, with low trading volumes across the board by the 5pm kerb.

LIVE FUTURES REPORT 28/11: LME nickel price drops below $14,000/t

The three-month nickel price on the London Metal Exchange shed 3.1% to hit a low of $13,930 per tonne during the morning session on Thursday November 28, trading below $14,000 per tonne for the first time since July 2019.

LME WEEK 2019: The pivotal stories from the biggest week in metals

LME Week 2019 saw metals stuck in the middle of largely bullish supply-side fundamentals and decidedly bearish demand, with the global economy and industry looking shaky.

MORNING VIEW: Metals give muted response to Trump’s support for Hong Kong protestors

United States President Donald Trump’s signing of bills to support Hong Kong’s protestors may undermine or delay progress in US-China trade talks; this seems to have become a headwind for equities this morning, Thursday November 28, but so far, with the exception of nickel, it has not dragged down base metals prices on the Shanghai Futures Exchange.

LIVE FUTURES REPORT 28/11: SHFE base metals prices largely rangebound; Pb climbs 1.2%, Ni slumps

With the exception of lead and nickel, base metals prices on the Shanghai Futures Exchange were mostly rangebound during the morning trading session on Thursday November 28.

IN CASE YOU MISSED IT: 5 key stories from November 27

Here are five Fastmarkets MB stories you might have missed on Wednesday November 27 that are worth another look.