June 2020

LIVE FUTURES REPORT 30/06: LME copper hits 6-month high on supply fears

The London Metal Exchange three-month copper price closed above $6,000 per tonne for the first time since January 23 on Tuesday June 30.

MRI appoints Nunnenmacher new CEO; Paterson becomes President

Swiss metal merchant MRI Trading has appointed Markus Nunnenmacher as its new chief executive officer, with longstanding head Iain Paterson stepping down from the role effective from July 1.

LIVE FUTURES REPORT 30/06: Chile production woes push LME copper above $6,000/t

The London Metal Exchange three-month copper price rose during morning trading on Tuesday June 30, surpassing resistance at $6,000 per tonne against a narrowing forward curve, while nickel futures maintained gains made on Monday.

MORNING VIEW: Broader markets firmer despite mixed economic data, Covid-19 concerns

Asian-Pacific equities and pre-market major western equity index futures were stronger this morning, Tuesday June 30, while base metals prices were for the most part firmer too - this despite Federal Reserve chairman Jerome Powell saying the US economy faces “extraordinary uncertainty”.

LIVE FUTURES REPORT 29/06: LME zinc price gains 1% in afternoon trading; nickel tops complex in 1.2% climb

Steady buying over the afternoon brought the three-month zinc price on the London Metal Exchange higher at the close of trading on Monday June 29, eradicating the metal’s morning price weakness, while nickel futures topped gains despite minimal volume traded on the day.

LIVE FUTURES REPORT 29/06: LME copper price holds below $6,000/t despite cancelations

The three-month copper price on the London Metal Exchange consolidated higher during morning trading on Monday June 29, although it remained firmly below the $6,000 per tonne threshold.

MORNING VIEW: Supply threats underpin base metals prices; broader markets weaker on Covid-19 spread fears

Asian-Pacific equities and pre-market European equity index futures were weaker this morning, Monday June 29, but base metals prices were for the most part firmer.

LIVE FUTURES REPORT 26/06: LME aluminium price breaches $1,600/t in 1.8% upsurge; copper clears $5,900/t but spreads narrow

The LME three-month aluminium price was the standout performer on Friday June 26, breaching nearby resistance despite limited turnover, while a steady rise in LME copper futures prompted a tightening of the red metal’s forward curve.

LIVE FUTURES REPORT 26/06: LME nickel price gains 1.5% in steady incline; lead drawdowns continue

The three-month nickel price on the London Metal Exchange was higher during morning trading on Friday June 26, topping gains across the complex despite thin turnover, while the ongoing drawdown of LME lead stocks saw the heavy metal’s underlying price stay elevated.

MORNING VIEW: Base metals prices firmer in light volume; gold consolidates

Markets were mainly firmer this morning, Friday June 26, with the base metals up across the board and most Asian-Pacific equities indices showing gains, while gold prices were consolidating - all of which suggesting a slight risk-on sentiment.