August 2019

LIVE FUTURES REPORT 30/08: LME nickel price closes at 5-year high in 9% upturn; tin climbs 3.6%

The three-month nickel price on the London Metal Exchange continued to surge at the close of trading on Friday August 30, closing at its highest level since September 2014, while a 3.6% uptick in tin futures did little to close a widening gap between the two metals.

SHFE STOCKS REPORT 30/08: Nickel inventories slump by 15%; copper stocks down 8%

All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday August 30, with the biggest percentage fall in nickel stocks, which tumbled by 15.2% or 4,509 tonnes to 25,262 tonnes.

LIVE FUTURES REPORT 30/08: LME nickel hits 5-yr high, backwardation nears $100/t

Nickel’s three-month price on the London Metal Exchange continued to trend higher during morning trading on Friday August 30, breaking through the 2018-high while its cash/three-month spread remains tight.

MORNING VIEW: Markets off to a quiet start despite China saying it is open to trade deal

Markets are once again consolidating in the morning of Friday August 30, waiting to see how the United States responds to China’s comments that it wants to make a trade deal.

LIVE FUTURES REPORT 30/08: SHFE nickel maintains strength

Base metals on the Shanghai Futures Exchange mostly traded higher during morning trading on Friday August 30 following improved sentiment attributed to positive comments from the Chinese Commerce Ministry late on Thursday amid China's trade war with the United States.

LIVE FUTURES REPORT 29/08: LME nickel climbs 2.3%: copper holds above $5,700 per tonne

The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday’s close at $16,085 per tonne.

PEOPLE MOVES: Mark Lowe leaves Nizi as head of base metals trading

Mark Lowe left Nizi International, where he was head of base metals, in June after one year with the Luxembourg trading house, Fastmarkets has learned.

LIVE FUTURES REPORT 29/08: LME copper above $5,700/t on 24kt cancelation; nickel-tin switch at $560/t

The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen.

MORNING VIEW: Metals prices consolidate but markets remain nervous

Markets remain nervous on Thursday August 29, especially since the next wave of US tariff increases on Chinese goods are set to come into effect on September 1 and the US yield curve is showing the deepest inversion since 2007, with the 30-year yield falling to a historic low on Wednesday.

LIVE FUTURES REPORT 29/08: SHFE nickel outshines other base metals

Market caution over developments surrounding the trade spat between the United States and China left metals prices on the Shanghai Futures Exchange mixed, with nickel being the best-performing contract during morning trading on Thursday August 29 amid supply uncertainties and strong speculative sentiment.