April 2020

GLOBAL NICKEL WRAP: US premiums on divergent paths; Asian market weakens, Europe flat

Producer stoppages while the Covid-19 pandemic worsens caused nickel briquette premiums to rise in the United States this week, while Chinese nickel full-plate cathode premiums fell on steeper arbitrage losses.

LIVE FUTURES REPORT 01/04: LME copper price holds at $4,800/t; Al sinks below $1,500/t

The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday April 1, with price action shedding some $133.50 per tonne against moderate volumes, while continued inflows saw aluminium futures dip below nearby support.

BASE METALS WARRANT REPORT 01/04

SUBSCRIBER NOTICE: Suspension of Asia-hours Live Futures Reports

Fastmarkets will suspend the publication of the first Live Futures Report of the day from Monday April 6.

PEOPLE MOVES: Sucden hires fund manager Hodge to build price averaging business

Thomas Hodge is the new head of London Metal Exchange average price trading at commodity broker Sucden Financial, the company said in a notice on Wednesday April 1.

Shanghai-bonded copper inventory rise slows on resumed trading activity; nickel registers stock drop

Trading interest for bonded copper returned in March - especially in the latter half - capping the rise in copper inventories in Shanghai-bonded warehouses in the month to March 31, while nickel registered a stock decline on intermittent arbitrage opportunities.

LIVE FUTURES REPORT 01/04: LME base metals prices weaken on waning optimism

Three-month base metals prices on the London Metal Exchange were capped during the morning session on Wednesday April 1, with the previous day’s gains wiped out after a brief rally precipitated by positive data from China and month-end book squaring abruptly halted.

Key takeaways from the latest Base Metals Market Tracker

The latest forecast from Fastmarkets’ team of analysts is ready to view.

MORNING VIEW: Volatility in metals prices likely to increase ahead of key economic data

China’s Caixin manufacturing purchasing managers’ index (PMI) was released earlier on Wednesday April 1; it rebounded to 50.1 in March from 40.3 in February, which supports the rebound in the official PMI data released on Tuesday - another sign that purchasing managers reported conditions were just “better” in March than they were a month earlier.

LIVE FUTURES REPORT 01/04: Most SHFE base metals prices supported by China’s better-than-expected data

Base metals prices on the Shanghai Futures Exchange were broadly up during the morning trading session on Wednesday April 1, with the complex buoyed by the release of better-than-expected data from China.