July 2020

LIVE FUTURES REPORT 14/07: LME zinc price wipes out Monday’s gains in 2% decline; China imports climb

The three-month zinc price on the London Metal Exchange was the standout underperformer during morning trading on Tuesday July 14, wiping out gains made on Monday amid continued market volatility.

MORNING VIEW: Markets weaker, nervous in case US corporate earnings trigger a reality check

Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty.

LIVE FUTURES REPORT 13/07: Breakout close leads LME zinc up 3% amid Fed stimulus; copper follows

The London Metal Exchange three-month zinc price recorded its highest settlement price since January at the close on Monday July 13, rallying above nearby resistance despite well-supplied exchange stocks, while copper futures registered a standout turnover against the metal’s continued price incline.

LIVE FUTURES REPORT 13/07: Production woes put LME copper above $6,500/t on high vol; C/3M holds backwardation

The London Metal Exchange three-month copper price increased during morning trading on Monday July 13, up against further supply-related concerns from Chile, while the metal’s forward curve held in backwardation amid strong buying momentum.

MORNING VIEW: Broader markets start week on front foot; fresh supply disruption concerns underpinning the metals

Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.

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.