May 2020

Glencore to stay focused on value over volume, CEO says

Global commodities miner-marketer Glencore will continue to take a disciplined approach to ensuring that it does not overproduce at a time of declining demand for some materials, the company’s chief executive officer has said.

LIVE FUTURES REPORT 28/05: LME copper price passes $5,300/t in 1.3% rise

The LME three-month copper price was again trading above the psychological $5,300-per-tonne level on Thursday May 28, ending the day up 1.3% day on day at $5,322.50 per tonne, buoyed by the fresh cancelation of 19,000 tonnes earlier in the day.

Peru copper mines to return to full swing in Q3 - IIMP

Peruvian copper and gold mining projects could return to full swing in the third quarter 2020 after a national lockdown led to significant disruptions and a sharp drop in export earnings, a local organization said.

LIVE FUTURES REPORT 28/05: 19k cancellation supports copper; LME metals lackluster

Base metals prices were mixed during morning trading on Thursday May 28, with geopolitical tensions still weighing on the complex.

LIVE FUTURES REPORT 27/05: Negative US-China rhetoric caps LME base metals gains

Three-month prices for base metals on the London Metal Exchange, except aluminium, closed in negative territory after trading on Wednesday May 27, with futures prices capped by risk-off sentiment created by reignited tensions between the United States and China.

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

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

Antamina copper, zinc mine resumes ops after Covid-19 suspension

The Antamina copper and zinc mine in Peru has resumed operations following its shutdown due to the Covid-19 pandemic, shareholder Teck Resources said.

GLOBAL ZINC & LEAD WRAP: US lead inquiries pick up; global lead, zinc premiums stable

Global zinc and lead premiums were stable in the week to Tuesday May 26, with increased spot inquiries for lead amid battery producer Exide’s bankruptcy failing to translate to higher United States premiums, while demand for zinc in all regions remained lackluster.

LIVE FUTURES REPORT 27/05: LME aluminium holds above $1,500/t despite 19kt fresh inflow

The London Metal Exchange three-month aluminium price held above $1,500 per tonne during morning trading on Wednesday May 27, despite a fresh inflow of 19,275 tonnes of material into LME sheds in Malaysia as of 9am.

MORNING VIEW: Markets mixed; rebound hopes running high, but participants remain nervous about US response to China over Hong Kong

Broad markets and the metals were mixed this morning, Wednesday May 27, while participants brace for what United States President Donald Trump’s response will be to China’s plans to impose national security laws in Hong Kong, which he said will be announced by the end of the week.