June 2020

LIVE FUTURES REPORT 03/06: LME base metals prices consolidate after recent strength

Base metals price on the London Metal Exchange had moved sideways at the close of trading on Wednesday June 3, with most of the complex maintaining gains made earlier in the week against a steady improvement in risk-appetite.

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

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

LIVE FUTURES REPORT 03/06: LME copper price consolidates above $5,500/t; zinc slips below $2,000/t

The three-month copper price on the London Metal Exchange was up during morning trading on Wednesday June 3, maintaining a push above the nearby $5,500-per-tonne threshold achieved on Tuesday afternoon, while weak demand continues to pressure zinc futures downward.

LIVE FUTURES REPORT 02/06: LME lead price outperforms in 2.5% incline; copper, tin breach resistance

The London Metal Exchange three-month lead price was the standout performer at the close on Tuesday June 2 on continued optimism over easing pandemic concerns, while continued unrest in the United States did little to cap upward price action across the complex.

Zinc, lead TCs sink further in May on smelter restocking despite tentative mine restarts

Spot treatment charges (TCs) for zinc and lead concentrate continued their downward trajectories in May even as some South American miners announced restart of operations after two months of Covid-19 related shutdowns.

LIVE FUTURES REPORT 02/06: LME nickel price continues to climb; tin stocks keep falling

The London Metal Exchange three-month nickel price was the standout performer during morning trading on Tuesday June 2, climbing by 1.4% and continuing the buying momentum that emerged on Monday, while declining LME tin stocks support the price.

LIVE FUTURES REPORT 01/06: LME copper price nears $5,500; US construction spending lends support

The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday June 1, needing only a further slight push to rise above $5,500 per tonne – a level it has not breached since March 11 – while a smaller-than-expected fall in US monthly construction spending also supported the base-metals complex.

Open arbitrage sends Shanghai bonded copper stock levels to fresh low; zinc inventories also down

An open import arbitrage window during May has led to significant declines in copper and zinc stocks in the Shanghai bonded zone, while aluminium stocks rose following a rush by participants to deliver more metal in bonded warehouses to satisfy growing appetite to import the light metal into China.

LIVE FUTURES REPORT 01/06: LME copper price pushes above $5,400/t; outflows strengthen tin price

The three-month copper price on the London Metal Exchange inched up 0.8% during morning trading on Monday June 1, pushing back above nearby resistance levels amid strong turnover, while a 200-tonne outflow for LME tin stocks kept its price elevated.