July 2019

WEEKLY BASE METAL PREMIUMS REPORT: 23/07

A summary of base metals premiums from across the globe for the week to Tuesday July 23.

Noranda Income Fund cuts zinc production, sales forecast

Noranda Income Fund (NIF) has reduced its 2019 zinc metal sales and output guidance after unexpected maintenance outages and challenges to its production.

LIVE FUTURES REPORT 23/07: LME tin dips 2% in high-vol trading; copper below $6,000/t

Tin’s three-month price on the London Metal Exchange fell by some 2% at the close of trading on Tuesday July 23, slipping to a fresh low of $17,555 per tonne over the day’s trading - the lowest level since 2016 - while copper futures failed to close above the nearby $6,000-per-tonne resistance level.

LIVE FUTURES REPORT 23/07: LME tin price climbs while tin lags behind in mixed trading

Nickel’s three-month price on the London Metal Exchange was higher during morning trading on Tuesday July 23, continuing its upward trajectory above $14,300 per tonne, while tin’s three-month price slipped to just over $17,630 per tonne - close to its lowest level since 2016.

MORNING VIEW: LME base metals prices consolidate after Monday’s pullbacks

Against a backdrop of poor economic growth, especially in Germany and China, and in the absence of fresh news, markets seem to be content to consolidate this morning, Tuesday July 23.

LIVE FUTURES REPORT 23/07: Most SHFE base metals prices drift; zinc rises 0.5%

Base metals prices on the Shanghai Futures Exchange were split into two camps during morning trading on Tuesday July 23 with zinc, lead and tin ticking upward, while the rest drifted lower.

LIVE FUTURES REPORT 22/07: LME nickel price holds above $14,000/t despite 3% drop; tin climbs higher

Nickel’s three-month price on the London Metal Exchange fell by 3% over the afternoon but held above the $14,000 per tonne support level at the close of trading on Monday July 22, while a predominantly negative complex was upended by tin’s 1.3% climb.

LIVE FUTURES REPORT 22/07: Base metals drift on weak macro; Ni down 2.3%

The prices paid for base metals traded on the London Metal Exchange were almost universally suppressed during morning trading on Monday July 22, with uninspiring macro data precipitating thin trading volumes

MORNING VIEW: LME base metals prices correct while traders reconsider US rate cut expectations

Rising tension over Iran and a reduction in expectations on the size of the next US Federal Reserve rate cut were weighing on sentiment this morning, Monday July 22.

LIVE FUTURES REPORT 22/07: SHFE base metals prices retreat; nickel slumps 2.8%

Base metals prices on the Shanghai Futures Exchange were all down during morning trading on Monday July 22, with nickel and zinc leading the decline with drops of 2.8% and 1.7% respectively.