May 2021

GLOBAL NICKEL WRAP: China briquette premium dips despite SHFE listing; all others flat

Quiet spot trade, apart from in China’s nickel briquette market, left nickel premiums flat worldwide in the week to Tuesday May 25, sources told Fastmarkets.

MORNING VIEW: Base metals consolidate, but dip buying half-hearted

Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price.

LIVE FUTURES REPORT 25/05: Zinc, lead prices rise to defy broader LME downtrend

The three-month prices of zinc and lead were the only ones to rise on Tuesday May 25, while other futures contracts on the London Metal Exchange ended the day lower, with consolidation continuing in the base-metals complex.

LME ASIA 2021: Global commodity pricing center shifting toward China, panelists say

“Pricing power” was again one of the hot topics at this year’s LME Asia Metals Seminar on Tuesday May 25, with several panelists talking about China’s position in the global base metals markets.

IRON ORE DAILY: Seaborne prices up amid liquidity recovery

Seaborne iron ore prices rose on Tuesday May 25, on support from a trading activity recovery in the physical market, sources told Fastmarkets.

FOCUS: High freight rates decouple aluminium supply-chain costs

High freight rates are pushing prices along the aluminium supply chain to multi-year highs, but there is one area where it is having the opposite effect: alumina.

LIVE FUTURES REPORT 25/05: LME prices mostly stable; re-warranting in lead inventories

Base metal prices on the London Metal Exchange were little changed during morning trading on Tuesday May 25 from Monday’s closing prices, with the complex consolidating following a month of peaks and declines.

CHINA REBAR: Demand returns amid steady prices

Sellers in China’s domestic rebar market stopped lowering prices on Tuesday May 25, which led to a pick-up in end-user demand.

SHFE approves delivery of Glencore’s nickel brand 'Nikkelverk'

The Shanghai Futures Exchange has allowed Glencore’s Nikkelverk nickel brand to be physically deliverable as a registered brand against its nickel futures contracts as of May 21, the exchange said.

LME ASIA 2021: Bullish commodities market 'due to supply-demand mismatch'

The current bullish commodities market is mainly driven by a supply-demand mismatch during a pandemic instead of a super cycle, panelists said at the LME Asia Metal Seminar 2021 on Tuesday May 25.