March 2021

INE starts first copper delivery

The March bonded-copper contract on the Shanghai International Energy Exchange (INE) is now under way for delivery through March 16-22 - the very first delivery of bonded copper futures on the bourse since its debut on November 19, 2020 - Fastmarkets understands.

ISRI members 'adamantly oppose' LME margin change

Proposed changes to the London Metal Exchange’s margin methodology would have detrimental implications for collateral and credit lines, increase transaction costs and brokerage fees, and inhibit scrap recyclers’ ability to hedge, according to the non-ferrous division of the Institute of Scrap Recycling Industries (ISRI).

LIVE FUTURES REPORT 19/03: LME aluminium at highest since June 2018, up 4% week-on-week

Aluminium’s price on the London Metal Exchange was up 2.2% at the close to $2,265 per tonne on March 19, with the rest of the base metals complex also benefiting from a short-covering bounce on Friday.

Algorithms, banks to benefit from LME discussion paper - Sucden floor trader

The beneficiaries of the London Metal Exchange’s proposal to close the ring, incentivize electronic trade and change its margin methodology are likely to be algorithmic traders and banks, a floor trader at the exchange said.

IRON ORE DAILY: Tougher restrictions in Tangshan prompt seaborne price weakness

Iron ore prices fell on Friday March 19 amid tighter emission restrictions imposed in Tangshan until the end of June, sources told Fastmarkets.

CHINA HRC: Fresh production cuts give further boost to domestic prices

China’s hot-rolled coil prices continued to gain strength on Friday March 19, rising to their highest since August 2018 following the announcement of a new round of production cuts in Tangshan, in northern China.

SHFE STOCKS REPORT 19/03: Nickel inventory down 16.2% on strong EV demand; copper stocks up 9.1%

Deliverable stocks of base metals, with the exception of copper and aluminium, in Shanghai Futures Exchange-registered warehouses decreased during the week to Friday March 19, with nickel posting the largest decline in percentage terms at 16.2%.

LIVE FUTURES REPORT 19/03: Near 200kt of LME Al cancelled in Port Klang; tin dips 1.7%

Almost 200,000 tonnes of aluminium were cancelled on Friday March 19, London Metal Exchange warehouse data showed, while most futures prices traded sideways with only tin dropping nearly 2%.

LIVE FUTURES REPORT 18/03: Zinc down 1.2%; tin nears 26,000 per tonne

Zinc’s futures price showed the biggest fall among the base-metals complex at the close of trading on the London Metal Exchange on Thursday March 18, with consolidation in the complex continuing, while tin’s price edged close to the $26,000 per tonne mark.

IRON ORE DAILY: Seaborne prices up slightly after China announces less-strict emissions restrictions for Tangshan

Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.