February 2020

LIVE FUTURES REPORT 24/02: Fresh cancelation fails to bolster LME zinc price; copper slips below $5,700/t

The three-month zinc price on the London Metal Exchange was lower during morning trading on Monday February 24, with price action down by 2.4% and trading at its lowest level since July 2016, while copper futures also fell through nearby support levels.

MORNING VIEW: Markets focused on international spread of coronavirus, metals prices mainly weaker

Broader markets are seeing risk-off while they focus on the spread of the novel coronavirus (2019-nCoV) this morning, Monday February 24, after the number of cases and deaths escalated outside of China, especially in South Korea.

LIVE FUTURES REPORT 24/02: SHFE base metals prices pullback after coronavirus cases spike; tin up by 0.6%

Base metals traded on the Shanghai Futures Exchange were broadly down at the close of the morning trading session on Monday February 24, with sentiment hit by a spike in novel coronavirus (2019-nCoV) cases over the weekend.

LIVE FUTURES REPORT 21/02: Downward pressure sees LME nickel price down 1.4%; lead fails to hold gains

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.

SHFE STOCKS REPORT 21/02: Aluminium stocks soar by nearly 21%; zinc up by over 17%

Aluminium stocks in Shanghai Futures Exchange-approved warehouses increased the most in percentage terms in the week to Friday February 21, with inventories up by 20.9% to 409,635 tonnes.

LIVE FUTURES REPORT 21/02: LME nickel in 1.3% decline; copper little moved after 14kt fresh cancelation

The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday February 21, with its price action now testing support at $12,500 per tonne, while a 14,000-tonne fresh cancelation failed to bolster copper’s futures price.

MORNING VIEW: Metals mainly weaker after coronavirus concerns escalate again

The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.

LIVE FUTURES REPORT 21/02: SHFE base metals prices weaken on coronavirus jitters; Pb edges up by 0.2%

Base metals prices on the Shanghai Futures Exchange were broadly down at the close of morning trading on Friday February 21, with risk appetite weakening due to a rise in novel coronavirus (2019-nCoV) cases outside of China.

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.