October 2020

LIVE FUTURES REPORT 27/10: LME base metals rise before China policy meeting; copper holds below $6,800/t

London Metal Exchange three-month base metals prices were upbeat during morning trading on Tuesday October 27, recovering from broad consolidation on Monday ahead of Chinese policy meetings scheduled this week, while LME copper futures struggled to breach nearby resistance despite steady volumes.

MORNING VIEW: LME base metals look upward after recent consolidation

Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates.

LIVE FUTURES REPORT 26/10: Selling pressure sees LME tin price fall 1.7%; copper below $6,800

The three-month price of tin on the London Metal Exchange was the laggard at the close of trading on Monday October 26, losing just under 2% of its price against the highest daily volume count since September 23, while selling pressure saw the LME copper price sink below nearby support levels over the afternoon.

LITHIUM CONF: Trading volumes have reached ‘critical mass’ to support lithium futures contract – LME

The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26.

LIVE FUTURES REPORT 26/10: LME base metals prices subdued on US virus stimulus doubts; tin tumbles

Three-month base metals prices on the LME were lower in morning trading on Monday October 26, with tin suffering the most after doubts emerged over the US coronavirus stimulus package and with a steady uptick in the US dollar index.

IRON ORE DAILY: Trading activity limited awaiting outcome of China’s five-year plan talks

Iron ore prices in both the futures and seaborne markets fell further on Monday October 26, due to a dip in liquidity while the market waits for a clear direction to emerge from China’s 14th five-year plan discussions.

COKING COAL DAILY: Halt in Australia cargo demand slashes seaborne prices

Seaborne premium hard coking coal and hard coking coal prices in both fob and cfr markets dropped drastically on Monday October 26 due to lack of demand with sources reporting a stalemate between miners and buyers.

LIVE FUTURES REPORT 23/10: Base metals lose momentum amid low turnover

Three-month prices for all base metals on the London Metal Exchange lost momentum before the close on Friday October 23, falling in tandem with a drop in the US stock markets.

COKING COAL DAILY: Seaborne premium prices edge down amid spot market lull

Seaborne premium hard coking coal prices edged down on Friday October 23, with market participants from China unable to purchase Australian coking coal while sources from India were in wait-and-see mode.

IRON ORE DAILY: Seaborne prices fall after high port inventories weaken sentiment

Seaborne iron ore prices fell sharply on Friday October 23 amid high inventories at Chinese ports that signaled weak demand, according to sources.