October 2020

MORNING VIEW: LME base metals prices weaker as US stimulus talks struggle, but underlying trends generally strong

Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne.

China’s domestic stainless steel prices edge up on strong nickel market

China’s domestic stainless steel prices narrowed upward in the past week on nickel gains.

BASE METALS WARRANT REPORT 21/10

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.

LIVE FUTURES REPORT 21/10: LME copper price soars above $7,000; nickel down 1%

The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel’s price rally cooled against selling pressure over the afternoon.

IRON ORE DAILY: Futures gain amid drop in steel inventories, physical market stable

Iron ore futures gained again on Wednesday October 21, following an uptrend in steel futures amid a drop in steel inventories, with the seaborne market remaining stable on limited trading activity, sources said.

COKING COAL DAILY: Premium low-vol fob price eases on limited demand

The premium hard coking coal price fob Australia dipped on Wednesday October 21 due to a lack of demand for material from the country, according to market participants.

CHINA HRC: Weak dollar props up export prices

China’s hot-rolled coil exporters raised their prices on Wednesday October 21 amid domestic gains and a strengthening dollar.

LIVE FUTURES REPORT 21/10: LME base metals prices rise on US stimulus, China spending hopes

London Metal Exchange three-month base metals prices were trading up on the previous day’s close during the morning session on Wednesday October 21, boosted by hopes of an imminent US fiscal stimulus package and increased government-sanctioned Chinese infrastructure spending.

MORNING VIEW: Base metals prices upbeat as risk-on sweeps through broader markets

Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21.

LIVE FUTURES REPORT 20/10: LME nickel price breaches $16,000/t; copper hits fresh high

London Metal Exchange three-month base metals prices except aluminium were trading up at the close on Tuesday October 20, buoyed by an upswing in United States equities markets.