April 2020

SHFE STOCKS REPORT 30/04: Base metals stocks fall for third week; copper slumps 10%

Deliverable stocks of base metals in Shanghai Futures Exchange-approved warehouses all declined in the week ended Thursday April 30, with those for copper decreasing the most in percentage terms.

LIVE FUTURES REPORT 30/04: LME nickel price sinks 1.3% on low turnover; copper below $5,200

The three-month nickel price on the London Metal Exchange lost ground at the close of trading on Thursday April 30, closing at its lowest level in more than a week against thin turnover, while selling pressure pushed copper futures below nearby support levels.

BASE METALS WARRANT REPORT 29/04

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 29.

LIVE FUTURES REPORT 30/04: LME copper price holds above $5,200/t; aluminium sinks below $1,500/t

The three-month copper price on the London Metal Exchange held on to support above $5,200 per tonne during morning trading on Thursday April 30, while a fresh cancellation of 10,000 tonnes did little to support aluminium futures prices.

MORNING VIEW: Metals prices supported by dovish Fed, strength in broader markets

Base metals prices and global equity indices were holding up in high ground this morning, Thursday April 30, helped by the US Federal Open Market Committee’s message of continued support, an expansion in manufacturing activity at China’s larger factories, a stronger oil price and because state-sponsored inventory buying in China bodes well for the metals.

IN CASE YOU MISSED IT: 5 key stories from April 29

Here are five Fastmarkets stories you might have missed on Wednesday April 29 that are worth another look.

MSC resumes tin production after pandemic pause

Malaysia Smelting Corp (MSC), the world’s second-largest tin exporter, has resumed production following a hiatus related to the Covid-19 pandemic, the company told Fastmarkets.

LIVE FUTURES REPORT 29/04: LME copper price holds above $5,200/t in 1.2% uptick; tin loses momentum

The three-month copper price on the LME was higher at the close of trading on Wednesday April 29, staying firmly above nearby support levels despite only average turnover, while tin futures showed some weakness over the afternoon.

LIVE FUTURES REPORT 29/04: LME base metals prices continue sideways trading

London Metal Exchange three-month prices traded sideways for the second consecutive day on Wednesday April 29, with LME futures finding their footing at relatively low levels amid month-end book squaring and Asian countries preparing to come out of the market for a series of public holidays starting tomorrow.

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

The latest forecasts from Fastmarkets’ team of analysts are ready to view.