February 2020

MORNING VIEW: Markets focused on coronavirus developments, less so on impact to supply chains

Equity markets remain buoyant in Asia, but pre-market western equity indices have started to weaken, while metals are mixed this morning, Thursday February 20.

LIVE FUTURES REPORT 20/02: Firm dollar pressures SHFE base metals prices

With the exception of tin that was little changed, base metals prices on the Shanghai Futures Exchange were down at the close of morning trading on Thursday February 20, with the complex coming under pressure from a strengthening dollar index.

BASE METALS WARRANT REPORT 19/02

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 19.

LIVE FUTURES REPORT 19/02: LME Al price down on low turnover; nickel holds below $13,000/t

The three-month aluminium price on the London Metal Exchange was lower at the close of trading on Wednesday February 15, with daily trading volumes hitting a three-month low against reduced open interest, while nickel failed to test nearby resistance.

Chinese buyers can apply for tariff exemptions on US copper, Al scrap imports from March

Chinese importers could be able to buy United States’ copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.

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.