July 2020

LIVE FUTURES REPORT 10/07: China liquidity boost inspires LME base metals rally

The posting of 1.81 trillion yuan in new Chinese loans early in the European trading session on Friday July 10 led to a rally across all London Metal Exchange three-month base metals prices.

SHFE STOCKS REPORT 10/07: Copper inventories rise 20%

Copper showed the largest increase in deliverable stocks in percentage terms in Shanghai Futures Exchange-approved warehouses in the week to Friday July 10, climbing by 23,018 tonnes or 20.1% to 137,336 tonnes.

LIVE FUTURES REPORT 10/07: LME nickel continues descent in 1.2% drop; copper holds above $6,300/t

The LME three-month nickel price was trading down 1.2% on the previous day’s close at around $13,080 per tonne during the morning session on Friday July 10, continuing its descent from yesterday’s $13,550 per tonne intraday high.

LME publishes off-warrant stocks data showing extra 1 mln tonnes of Al off-warrant

The London Metal Exchange has released off-warrant stock data to the market in a bid to increase transparency of global metal availability.

LIVE FUTURES REPORT 09/07: LME copper rallies to $6,300 at close; nickel falls 1.5%

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday July 9, continuing to test levels last seen in January despite a volatile forward curve, while nickel lost ground into the afternoon despite high turnover across the base-metals complex.

LIVE FUTURES REPORT 09/07: LME copper price soars 2% to breach $6,350/t; 15,000t fresh cancellation in zinc

The three-month copper price on the London Metal Exchange was higher during morning trading on Thursday July 9, with price action pushing firmly above nearby resistance levels, while a sizeable fresh cancellation in LME zinc stocks saw the metal’s underlying price also rally.

PEOPLE MOVES: Sucden appoints Socgen’s Alan Burr to Hong Kong LME metals desk

UK Trading house Sucden Financial has appointed ex-Société Générale metals trading head Alan Burr to its London Metal Exchange metals and options desk in Hong Kong, the company said on Thursday July 9.

MORNING VIEW: Metals stronger as supply fears dominate, especially for copper, zinc

Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc.

BASE METALS WARRANT REPORT 08/07

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 8.

LIVE FUTURES REPORT 08/07: LME aluminium price rallies to three-month high in high-vol trading

The London Metal Exchange three-month aluminium price closed at its highest since March 16 on Wednesday July 8, up 1.8% on the previous day’s close at $1,665 per tonne after 20,000 lots changed hands over the course of the trading day.