October 2019

LIVE FUTURES REPORT 17/10: LME nickel down 1.1% despite further drawdowns; Cu gains ground

The London Metal Exchange three-month nickel price shed 1% from the previous day’s close to trade at around $16,285 per tonne during the morning session on Thursday October 17, with the weakness coming despite further drawdowns leaving LME nickel stocks at 88,302 tonnes - the lowest since December 2012.

LIVE FUTURES REPORT 17/10: SHFE nickel price slumps 2.1%, mirroring weakness seen on LME; other metals mixed

Base metals on the Shanghai Futures Exchange gave a largely subdued performance during the morning trading session on Thursday October 17, amid persistent macroeconomic uncertainty that continues to weigh on the complex.

IN CASE YOU MISSED IT: 5 key stories from October 16

Here are five Fastmarkets MB stories you might have missed on Wednesday October 16 that are worth another look.

PEOPLE MOVES: Andrew Stonkus to retire from Teck, replaced by Réal Foley

Andrew Stonkus is to retire as Teck Resources Limited’s senior vice president, marketing and logistics, on December 31 and will be replaced by Réal Foley.

Global zinc output to rise by 555,000 tonnes in 2020, Founder Commodity says

The global production of refined zinc in 2020 is expected to increase by 555,000 tonnes amid high treatment charges (TCs) for zinc concentrates, Yuan Yuchen of Founder Commodity told delegates at the 2019 Lead & Zinc Week in Kunming on Wednesday October 16.

LIVE FUTURES REPORT 16/10: LME nickel price hits six-week low amid 3% decline; lead tops gains

The three-month price of nickel on the London Metal Exchange was down at the close of trading on Wednesday October 16, settling at its lowest level since August 29 amid thin turnover, while lead continued to rally over the afternoon.

BASE METALS WARRANT REPORT 16/10

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 16.

GLOBAL ZINC & LEAD WRAP: Shanghai, Europe zinc premiums soften; global lead premiums unchanged

Physical zinc premiums in Shanghai softened in the week to Tuesday October 15, with the import loss for bringing zinc into the region widening by just under $100 per tonne since last week; meanwhile a drop in the Northern Europe premium was exacerbated by poor demand and tight forward spreads.

Incoming EC members take aim at metal imports with 'carbon border tax'

Members of the incoming European Commission, expected to take office in November, have released more details of a planned “carbon border tax”, which could levy charges on metal imports into the European Union.

LIVE FUTURES REPORT 16/10: LME base metals trade capped by US-China trade-talk pessimism

The three-month base metals prices traded on the London Metal Exchange were broadly down in the morning session on Wednesday October 16 with the macro-sensitive complex reacting to news of the passing of a US act to support Hong Kong protestors, which is stifling hopes of a trade deal between the country and China.