August 2020

BASE METALS WARRANT REPORT: 12/08

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 12.

LIVE FUTURES REPORT 12/08: LME copper price breaches $6,400 in high-volume trading; zinc struggles

The three-month price of copper on the London Metal Exchange was higher at the close of trading on Wednesday August 12, with high turnover during the day prompting a push beyond key resistance levels, while a morning inflow of 15,225 tonnes of zinc saw selling pressure continue into the close.

IRON ORE DAILY: Seaborne prices tick upward on healthy demand, upcoming maintenance

Seaborne iron ore prices showed slight upticks on Wednesday August 12 with firm support from a healthy appetite for the raw material among steelmakers, according to trade sources.

CHINA HRC: Exporters keep offers high despite domestic decline

China’s hot-rolled coil exporters kept their offers high on Wednesday August 12 despite a weakening of domestic prices.

LME off-warrant stock rises 8%; nearly 1 million tonnes now in Asia

The London Metal Exchange’s latest data shows a rise of 109,968 tonnes of off-warrant stock available outside of the LME network, including nearly 70,000 tonnes more aluminium.

LIVE FUTURES REPORT 12/08: LME nickel sinks 1.1%; zinc falters after 15kt inflow

The London Metal Exchange three-month nickel price made the biggest downward move during morning trading on Wednesday August 12, with selling pressure emerging overnight and in Asian trading sessions, while a fresh inflow of 15,225 tonnes pushed LME zinc lower.

Wuxi Stainless Steel Exchange to launch cobalt sulfate contract in September

The Wuxi Stainless Steel Exchange plans to launch electronic trading contracts for cobalt sulfate in September, to align with the development of the electric vehicle (EV) sector in China, a spokeswoman for the exchange told Fastmarkets on Wednesday August 12.

MORNING VIEW: Metals prices under pressure, especially gold; broader markets mixed as they face crosswinds

Increased choppiness in the base metals in recent days suggests the bullish and bearish camps are getting more balanced and a new fight for supremacy is unfolding.

LIVE FUTURES REPORT 11/08: Positive US PPI data boosts LME base metals; lead up 3%

The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Tuesday August 11, climbing by 3% and breaking past nearby resistance, while a continued uptick in producer inflation from the US further supported buying momentum in the afternoon.

COKING COAL DAILY: Seaborne premium prices relatively flat; premium mid-vol price under pressure

Seaborne premium hard coking coal prices were relatively flat on Tuesday August 11 due to a lack of transactions, but the premium mid-volatility hard coking coal price was under pressure, sources said.