July 2019

BASE METALS WARRANT REPORT 31/07

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 31.

GLOBAL ZINC & LEAD WRAP: European zinc premiums slide as backwardation returns; US, Asia lead unchanged

Zinc premiums dipped in Europe but were flat elsewhere, reflecting the onset of the summer slowdown, although US demand for lead and zinc is reportedly improving.

LIVE FUTURES REPORT 31/07: LME nickel price ignores imminent Fed rate cut; lead closes above $2,000/t

The three-month nickel price on the London Metal Exchange climbed by 1.4% at the close of trading on Wednesday July 31, shaking off downward momentum emanating from an expected US Federal Reserve interest rate cut and subsequent dollar incline.

Trafigura completes Nyrstar restructure, HQ will move to Netherlands

Global integrated miner Nyrstar will be run as an independently operated company within the Trafigura group after a deal was concluded with its creditors and completed on Wednesday July 31.

LIVE FUTURES REPORT 31/07: LME lead price falls 0.5% on further 12.5kt inflow

The London Metal Exchange three-month lead price moved lower again in morning trading on Wednesday July 31, after a second day of significant inflows into LME global warehouses continued to exert downward price pressure.

GLENCORE AT A GLANCE: Copper output drops, zinc production up in H1; ferro-chrome guidance revised downward again

A summary of Glencore’s production results for the half year ended on June 30, 2019, as well as its adjusted full-year production guidance.

MORNING VIEW: Metals prices firmer, helped by improvement in Chinese manufacturing PMI

Asian equities were weaker in the morning of Wednesday July 31 on uncertainty on the progress in US/China trade negotiations, although base metals, which have focused more on brighter Chinese manufacturing purchasing managers’ index (PMI) data, rose by an average of 0.4%.

LIVE FUTURE REPORT 31/07: SHFE base metals prices retreat on Trump’s trade comments, weak China data; lead slides 1.7%

In a reversal of the previous day’s show of strength, base metals prices on the Shanghai Futures Exchange were down across the board during morning trading on Wednesday July 31.

WEEKLY BASE METAL PREMIUMS REPORT: 30/07

A summary of base metals premiums from across the globe for the week to Tuesday July 30.

LIVE FUTURES REPORT 30/07: LME base metals dip on strong dollar; Pb dips 2.7% on 12kt inflow

Three-month base metals prices traded on the London Metal Exchange universally closed down at the afternoon kerb on July 30, with a strengthened dollar complex and inflows across all metals, except zinc, exerting downward price pressure.