July 2020

LIVE FUTURES REPORT 07/07: LME lead price finds support; copper flips to contango

The three-month price of lead on the London Metal Exchange was at the top of the list of gains at the close of trading on Tuesday July 7, with the price appreciating by 1.5% to push above nearby resistance levels, while a continued rise in LME copper futures took the red metal to a six-month high.

Tin miner Kasbah Resources delists from Australian exchange

Australia-based tin mining company Kasbah Resources has delisted from the Australian Securities Exchange (ASX), according to a company statement issued on Tuesday June 30.

LIVE FUTURES REPORT 07/07: LME base metals prices downbeat amid low-volume trading; copper spreads ease

Three-month base metals prices on the London Metal Exchange consolidated lower in the morning of Tuesday July 7, following low-volume trading over the Asia hours, while copper’s forward spreads eased despite net outflows.

MORNING VIEW: Base metals prices hold firm, most Asian equities weaker while China’s rally continues

With the exception of China’s CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Tuesday July 7, while base metals prices on the London Metal Exchange were mixed, although in general were holding up well.

LIVE FUTURES REPORT 06/07: LME nickel price continues rally; copper clears $6,100

The three-month nickel price on the London Metal Exchange was the standout performer at the close of trading on Monday July 6, with turnover at its highest since June 2, while copper futures similarly found momentum over the afternoon, closing above nearby resistance.

LIVE FUTURES REPORT 06/07: LME nickel price surges past $13,000/t in 2% uptick; copper finds support despite backwardation

The three-month nickel price on the London Metal Exchange climbed by more than 2% to breach nearby resistance levels during morning trading on Monday July 6, while a backwardation in LME copper’s forward curve did little to stop its price incline amid fresh stock removals.

MORNING VIEW: Base metals prices firmer amid strength in broader markets in Asia

Asian equities markets were stronger this morning, Monday July 6, and that has helped drive gains averaging 0.8% across the three-month bases metals prices on London Metal Exchange.

SHFE STOCKS REPORT 03/07: Lead inventories climb 17.3%; tin down 3.4%

Deliverable lead stocks in Shanghai Futures Exchange-registered warehouses rose the most in percentage terms among the base metals in the week to Friday July 3, with an increase of 4,029 tonnes (17.3%) to 27,362 tonnes.

LIVE FUTURES REPORT 03/07: Backwardation pressures LME copper price; nickel slips below $13,000/t

The three-month copper price on the London Metal Exchange was lower at the close of trading on Friday July 3, falling by more than 1.2% over the afternoon against low turnover, while nickel futures slipped below nearby support levels.

LIVE FUTURES REPORT 03/07: LME nickel price bucks downtrend with 1.3% climb; copper spread swings to backwardation

The three-month nickel price on the London Metal Exchange surged by more than 1% during morning trading on Friday July 3 amid strong turnover, while tight forward spreads cooled interest in LME copper futures.