February 2020

LIVE FUTURES REPORT 19/02: Backwardation in LME lead spreads widens; Al price down despite 15kt outflow

The London Metal Exchange base metals, except tin, were subject to stock moves in the morning session on Wednesday February 19, with LME three-month prices demonstrating mixed consolidation.

MORNING VIEW: Markets recover after Tuesday’s broad market dip; base metals prices mixed

After the broad-based dip on Tuesday February 18 that was partially triggered by Apple’s sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.

LIVE FUTURES REPORT 19/02: SHFE base metals prices mixed; Ni underperforms again

Base metals prices on the Shanghai Futures Exchange were mixed at the close of morning trading on Wednesday February 19, with recent Chinese stimulus measures providing slight support to the complex while worries about the economic impact of the novel coronavirus (2019-nCoV) outbreak continue to loom.

WEEKLY BASE METAL PREMIUMS REPORT: 18/02

A summary of base metals premiums from across the globe for the week to Tuesday February 18.

LIVE FUTURES REPORT 18/02: LME nickel price sheds 2.2% to close below $13,000/t

London Metal Exchange three-month base metals prices, with the exception of lead, traded down at the close on Tuesday February 18, with any residual optimism capped by negative movements in global equities markets and restrictions in Chinese markets due to the novel coronavirus (2019-nCoV) outbreak.

LIVE FUTURES REPORT 18/02: Fresh 1kt inflow fails to rattle LME tin price; nickel slides 1.4%

The three-month tin price on the London Metal Exchange was little moved during morning trading on Tuesday February 18, with the largest single inflow in two months having a muted effect on price action, while nickel futures slipped below $13,000 per tonne.

MORNING VIEW: Base metals prices mixed, but broader markets have second thoughts about coronavirus impact

Broader markets, mainly equity indices, have been fairly complacent about the potential negative economic impacts of the coronavirus (2019-nCov). But this morning, Tuesday February 18, that may be changing with Asian equities down across the board as more companies and countries get jittery.

LIVE FUTURES REPORT 18/02: SHFE base metals prices drift downward; Al bucks trend with 0.2% gain

With the exception of those for aluminium, base metals prices on the Shanghai Futures Exchange were down at the close of the morning session on Tuesday February 18 as investors seemingly shrugged off further stimulus measures by China on Monday.

LIVE FUTURES REPORT 17/02: LME copper price breaches $5,800 despite low turnover; zinc finds support

The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday February 17, topping gains across the base-metals complex despite low trading volumes, while zinc gathered momentum over the afternoon but remained rangebound.

LIVE FUTURES REPORT 17/02: LME copper price pushes above $5,800/t after fresh cancelation; nickel supported

The three-month copper price on the London Metal Exchange was higher during morning trading on Monday February 17, climbing above nearby resistance against high turnover, while nickel held above $13,000 per tonne.