April 2020

APEX Q1 2020: Commerzbank team tops Q1 2020 base metals prediction leaderboard

The team from Commerzbank clinched the top spot on the base metals leaderboard for the first-quarter 2020 base metals predictions with 97.98% accuracy while Glyn Lawcock of UBS took the top spot for precious metals predictions over the period with a 93.58% accuracy rating.

Yunnan govt calls for commercial non-ferrous metal stockpiling to bolster economy

The Yunnan provincial government has called for leading enterprises to stockpile non-ferrous metals to support the economy in an announcement published on Sunday April 26.

LIVE FUTURES REPORT 27/04: LME tin up 3.3% after fresh cancelation; zinc back above $1,900/t

The London Metal Exchange three-month tin price increased during morning trading on Monday April 27, following a fresh cancellation of 285 tonnes, while strong buying in zinc futures pushed the metal to breach nearby resistance levels.

MORNING VIEW: Metals prices start week on front foot amid risk-on mood

Metals prices were for the most part stronger this morning, Monday April 27, as were Asian-Pacific equity indices, while gold prices were slightly weaker and US treasury yields were firmer - all suggesting a broad risk-on mood.

SHFE STOCKS REPORT 24/04: Base metals stocks decline again; Cu down 14.6%

Deliverable stocks of base metals at Shanghai Futures Exchange-approved warehouses were down across the board in the week ended Friday April 24, with those for copper declining the most in percentage terms.

LIVE FUTURES REPORT 24/04: Aluminium price nudges up despite low turnover

The London Metal Exchange three-month aluminium price rose by 0.3% during trading on Friday April 24 to close at $1,514 per tonne, on low turnover of 9,132 lots during the day.

LIVE FUTURES REPORT 24/04: LME copper dips 0.6% despite fresh 8.5kt cancelation; zinc nears $1,900/t

The London Metal Exchange three-month copper price declined during morning trading on Friday April 24, with price action consolidating lower amid slow turnover, while a marginal incline in zinc futures pushed it to close in on nearby resistance levels this morning.

MORNING VIEW: Metals prices struggle to maintain high ground amid dire data

Base metals prices were mixed this morning, Friday April 24, after markets had to absorb weak flash purchasing managers’ index (PMI) data on Thursday, especially in the services sector where readings were 11.7 in the European Union and 27 in the United States, while manufacturing readings were also weak.

LIVE FUTURES REPORT 23/04: LME copper price continues uptrend above $5,100/t; nickel climbs 2%

The three-month copper price on the LME climbed by just over 1% on Thursday April 23 to settle at its highest level since April 14, while nickel futures gained ground in the afternoon despite low turnover.

LIVE FUTURES REPORT 23/04: LME tin price jumps by 2.2%; nickel finds support above $12,100/t

The three-month tin price on the London Metal Exchange was the standout performer during morning trading on Thursday March 23, clearing resistance at $15,100 per tonne, while steady buying in nickel futures over the morning also pushed its price higher.