February 2020

LIVE FUTURES REPORT 20/02: LME zinc price tops losses in 1.3% slide; nickel closes below $12,700

The three-month zinc price on the London Metal Exchange was lower at the close of trading on Thursday February 20, falling by more than 1% but holding above the nearby support level, while nickel failed to reduce its losses despite low turnover.

LIVE FUTURES REPORT 20/02: Fresh inflows pressure LME nickel price below $12,800/t; Al sinks despite stock drawdown

The three-month nickel price on the London Metal Exchange was lower during morning trading on Thursday February 20, with price action pressured by continued inflows of material into LME-registered warehouses, while aluminium futures neared the $1,700-per-tonne support level.

MORNING VIEW: Markets focused on coronavirus developments, less so on impact to supply chains

Equity markets remain buoyant in Asia, but pre-market western equity indices have started to weaken, while metals are mixed this morning, Thursday February 20.

SHFE to delist Norilsk Combine H-1 brand of nickel cathode

The Shanghai Futures Exchange will delist the Norilsk Combine H-1 brand of refined nickel cathode produced by Russia’s Nornickel, effective from March 17, 2020, the bourse announced on Tuesday February 18.

Coronavirus outbreak keeping China’s stainless steel market subdued

China’s stainless steel market saw some activity over the past week following several weeks of stagnation as a result of the novel coronavirus (2019-nCoV) outbreak in the country.

LIVE FUTURES REPORT 20/02: Firm dollar pressures SHFE base metals prices

With the exception of tin that was little changed, base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Thursday February 20, with the complex coming under pressure from a strengthening dollar index.

BASE METALS WARRANT REPORT 19/02

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 19.

LIVE FUTURES REPORT 19/02: LME Al price down on low turnover; nickel holds below $13,000/t

The three-month aluminium price on the London Metal Exchange was lower at the close of trading on Wednesday February 15, with daily trading volumes hitting a three-month low against reduced open interest, while nickel failed to test nearby resistance.

Chinese buyers can apply for tariff exemptions on US copper, Al scrap imports from March

Chinese importers could be able to buy United States’ copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.

GLOBAL NICKEL WRAP: Lackluster demand maintains regional nickel premiums

Nickel premiums in all regions continued to hold firm in the week to Tuesday February 18, after slack demand for nickel tempered spot market liquidity.