May 2020

BASE METALS WARRANT REPORT 20/05

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 20.

LIVE FUTURES REPORT 20/05: LME copper breaches $5,400/t in 1.6% uptick; China arb narrows

The London Metal Exchange three-month copper price closed trading on Wednesday May 20 higher, on optimism of a possible slowing in the coronavirus-related economic downturn and while buying in the LME drove the price up and reduced arbitrage profits.

COKING COAL DAILY: Seaborne prices steady due to active trading

The seaborne price indices for coking coal rose further on Wednesday May 20, except for the premium hard coking coal cfr China index. There was active trading in the seaborne market with several transactions reported.

IRON ORE DAILY: Seaborne iron ore prices down in thin trading

Seaborne iron ore prices fell on Wednesday May 20 amid slow trading activity, bringing to an end a run of consecutive increases seen since the start of May.

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

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

GLOBAL ALUMINIUM WRAP: MJP spot premium up; rest of global premiums stable

Asian spot aluminium premiums divert, with the MJP market edging up on higher deals amid China’s open arbitrage window while the Southeast Asian market went down on lower offers from buyers, yet elsewhere, premiums were stable in a quiet market.

LIVE FUTURES REPORT 20/05: LME aluminium subject to 35kt inflow; tin gains 1.2%

The London Metal Exchange three-month aluminium price was once more capped by a significant fresh inflow of material during morning trading on Wednesday May 20, with 35,300 tonnes of metal put back into LME-approved sheds as of 9am.

FOCUS: China’s aluminium import arb window likely to remain open until end of May, analysts say

China’s import arbitrage window for aluminium may remain open until the end of May amid expectations of a stronger price performance on the Shanghai Futures Exchange relative to that on the London Metal Exchange, Fastmarkets understands.

LIVE FUTURES REPORT 19/05: 26.5kt inflow caps gains in LME aluminium; nickel gains 1.6%

Aluminium was the only LME three-month base metals contract to close negatively on Tuesday May 19, with gains in aluminium futures capped by a 26,500-tonne fresh inflow as of 9am.

Demand from China continues to push alumina prices upward

Alumina prices on an fob Australia basis continued to climb over the past week with buyers from China happy to pay above market levels to import cargoes, Fastmarkets heard on Tuesday May 19.