March 2020

WEEKLY BASE METAL PREMIUMS REPORT: 31/03

A summary of base metals premiums from across the globe for the week to Tuesday March 31.

LIVE FUTURES REPORT 31/03: LME base metals prices buoyed by positive China data

Three-month base metals prices on the London Metal Exchange broadly closed up from values at the previous day’s kerb on Tuesday March 31, buoyed by residual optimism following the release of positive manufacturing data from China earlier the same day.

Chinese refined tin imports increase eightfold amid Covid-19 lockdown

Imports of refined tin into China increased by more than 800% year on year during the country’s imposed Covid-19 lockdown over the January-February period, recent customs data from the country shows.

LIVE FUTURES REPORT 31/03: LME zinc price up 1.5% after 8kt fresh cancelation; copper above $4,800/t

The three-month zinc price on the London Metal Exchange was higher during morning trading on Tuesday March 31, with upward price action supported by an 8,825-tonne fresh cancelation, while strong Chinese purchasing managers’ index (PMI) data bolstered the base metals complex.

MORNING VIEW: Base metals prices find support from China’s better manufacturing data

China’s official manufacturing purchasing managers’ index (PMI) rebounded to 52 in March, after 35.7 in February, which means 52% of purchasing managers reported conditions were “better” in March than they were a month earlier.

LIVE FUTURES REPORT 31/03: Most SHFE base metals prices up on renewed positivity; Cu climbs 1.6%

With the exception of that for nickel, base metals prices on the Shanghai Futures Exchange were up at the close of the morning trading session on Tuesday March 31.

LIVE FUTURES REPORT 30/03: LME aluminium price sinks 1.4% to hit 4-yr low at close; lead pushes past $1,700/t

The three-month aluminium price on the London Metal Exchange continued its decline at the close of trading on Monday March 30, settling at its lowest level since April 2016, while a steady uptick in lead saw its outright price close at a two-week high.

LIVE FUTURES REPORT 30/03: Fresh 24kt inflow pressures LME aluminium price; risk-off sentiment sees complex weaker

The three-month aluminium price on the London Metal Exchange was lower during morning trading on Monday March 30, with price action falling by around 1.6% after more than 24,000 tonnes of metal was delivered back to LME-registered warehouses across Asia.

MORNING VIEW: Base metals prices face numerous cross currents

Markets were looking quite mixed this morning, Monday March 30, with most Asian-Pacific equity indices down, the pre-market Dow Jones Industrial Average up by 0.2%, oil prices down by around 5% and the base metals prices mixed.

LIVE FUTURES REPORT 30/03: SHFE base metals prices retreat on surge in coronavirus cases

Base metals prices on the Shanghai Futures Exchange were down across the board at the close of morning trading on Monday March 30, with aluminium leading the complex lower with a fall of 2.1%.