March 2020

Coronavirus contingency plans take shape for LME warranting

The London Metal Exchange has outlined further contingency plans for metal warranting against the coronavirus (2019-nCoV) outbreak, ensuring that its Special Committee has a broad range of powers to maintain an orderly market.

LIVE FUTURES REPORT 12/03: LME nickel price nears $12,100/t after 16kt rewarranting; copper sinks below $5,500/t

The three-month nickel price on the LME was lower during morning trading on Thursday March 12, selling-off some 2.4% of its outright price against broad macroeconomic risk-aversion, while a fresh rewarranting of some 16,656 tonnes added downward pressure.

MORNING VIEW: Continued fear in equities weighs on metals

The Dow Jones Industrial Average Index (DJIA) closed down by 5.9% on Wednesday, and in the pre-market this morning, Thursday March 12, the DJIA futures are down by around 4.4% - such is the continued fear in the market.

GLOBAL TIN WRAP: European 99.9% premium rises on improved spot market liquidity; US, Chinese rates stable

The European in-warehouse 99.9% ingot premium increased for the first time in four months on Tuesday March 10, owing largely to improved spot market conditions and uncertain macroeconomic conditions, while US and Chinese premiums were steady amid ample availability.

LIVE FUTURES REPORT 12/03: SHFE base metals prices drop as sentiment sours on pandemic declaration, US travel ban

Base metals prices on the Shanghai Futures Exchange were all down at the close of morning trading on Thursday March 12, with investors’ appetite for risk dented by broad economic concerns after the World Health Organization (WHO) declared the novel coronavirus (2019-nCOV) outbreak a global pandemic.

IN CASE YOU MISSED IT: 5 key stories from March 11

Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.

BASE METALS WARRANT REPORT 11/03

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 11.

LIVE FUTURES REPORT 11/03: LME nickel sinks 2% in poor trade; lead closes below $1,800/t

The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne.

LIVE FUTURES REPORT 11/03: LME base metals prices lackluster on conflicting stimuli; Zn gains 1.5%

LME three-month base metals prices were broadly trading down in the morning session on Wednesday March 11 while the complex oscillates between positive news from China and more precautionary economic measures taken in other regions to quell the impact of novel coronavirus (2019-nCoV).

MORNING VIEW: Volatility takes over as markets react to health, disruptions and government policy developments

Base metals were mixed this morning, Wednesday March 11, while the pre-market Dow Jones Industrial Average Index (DJIA) was off by 700 points, this after a 1,167-point rise on Tuesday.