April 2020

MORNING VIEW: Metals weak in early trading but could benefit from pick-up seen in wider markets

Despite signs of the Covid-19 virus being brought more under control with daily death tolls in most major economies now in decline, the rebound in demand is slow and this seems to be weighing on metals prices this morning, Wednesday April 22.

More than 100k lots traded on Comex copper, pushing May-July spread to super contango

More than 100,000 lots of Comex copper futures traded on Tuesday April 21, pushing the May-July spread into a super contango - with prices for future delivery well above spot levels.

LIVE FUTURES REPORT 21/04: LME base metals suffer losses amid risk-off sell off

London Metal Exchange base metals were universally trading down at the close on Tuesday April 21, with risk-off sentiment capping LME base metals' futures prices, which precipitated a broad-base sell off across the whole complex.

COKING COAL DAILY: Seaborne prices down on bearish sentiment

Seaborne coking coal prices dropped further on Tuesday April 21 due to inactive trading and persistent bearish sentiment among market participants.

CHINA HRC: Market weakens amid US oil crash

China’s domestic hot-rolled coil prices dropped on Tuesday April 21, with market sentiment hurt by a slump in financial markets triggered by an oil crash in the United States.

LIVE FUTURES REPORT 21/04: LME copper loses gains in 2.3% downslide; tin below $15,000/t

The London Metal Exchange three-month copper price declined during morning trading on Tuesday April 21, threatening to dip below the key $5,000-per-tonne support level, while tin futures fell 2.5% despite a sizeable stock outflow.

CHINA REBAR: Spot prices slide further amid US oil crash

China’s domestic rebar prices slid further on Tuesday April 21 amid futures losses sparked by an oil market crash in the United States.

MORNING VIEW: Metals, broader markets weaker; negative oil prices highlight how odd times are

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were weaker this morning, Tuesday April 21, and Asian-Pacific and pre-market major western equity indices were weaker too.

LIVE FUTURES REPORT 20/04: Strong buying in LME nickel futures sees price climb 3.7%; copper dips below $5,200/t

The three-month nickel price on the London Metal Exchange was the standout metal at the close of trading on Monday April 20, while the rest of the base metals complex remained pinned down amid broad risk aversion.

LME pauses required pre-trade transparency changes amid Covid-19 uncertainty

The London Metal Exchange has paused plans to implement pre-trade transparency (PTT) changes to its inter-office market, it said in a note to members on Monday April 20, citing the significant impact of Covid-19 in the postponement of the initiative.