December 2018

2018 REVIEW: Sanction, tariff volatility stifle fickle base metals complex; zinc down 26%; tin’s fourth-quarter freeze

While base metals prices began the first quarter of 2018 following the uptrend from the previous year, the advent of sanctions, global trade tensions and tariffs – notably Section 232 – swiftly became a focal point in what became a year of volatile price action.

LIVE FUTURES REPORT 31/12: LME nickel, Al prices hit fresh 2018 lows; zinc up 1.2%

Base metals on the London Metal Exchange were predominantly lower at the close of trading on Monday December 31, consolidating lower despite slight upticks in equity markets and a continued easing in the US dollar index.

LIVE FUTURES REPORT 31/12: Comex copper softens ahead of the New Year

Comex copper prices dipped to start the week in the United States on a lack of trading volumes and continued market worries over a prolonged trade war.

LME proposes to lift conditional suspension on Rusal material

The London Metal Exchange has recommended to its Special Committee that the conditional suspension on the warranting of UC Rusal metal be lifted, according to a notice to members on Monday December 31, after a period for market feedback provided no further concerns.

LIVE FUTURES REPORT 31/12: Low-volumes limit LME base metals prices; copper back above $6k/t

Base metals on the London Metal Exchange were mixed during morning trading on Monday December 31, with low volumes across the board limiting the complex to narrow trading ranges despite a marked slump in the US dollar index.

LIVE FUTURES REPORT 31/12: LME base metals prices up on positive US-China trade developments

Base metals prices on the London Metal Exchange were all up during Asian morning trading on Monday December 31 amid renewed optimism in the market after US President Donald Trump reported “big progress” in trade talks with his Chinese counterpart, Xi Jinping.

LIVE FUTURES REPORT 28/12: Low volumes typify mixed LME base metals trading; zinc falls 2.2%, lead up 1.5%

Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday December 28, with most of the complex trading in narrow ranges while both lead and tin futures climbed more than 1% over the afternoon.

Access World delists 8 warehouses in ongoing diversification

Glencore-owned Access World has delisted eight of its LME-registered warehouses this week, according to a notice to members on Friday December 28, continuing its move beyond LME storage amid its company-wide diversification strategy.

IRON ORE DAILY: Hesitance prevails among participants ahead of New Year

Chinese iron ore buyers continued to take caution on Friday December 28, the last trading day for most market participants in 2018.

CHINA HRC: Prices drop slightly on moderate trading

China’s hot-rolled coil (HRC) prices dipped on Friday December 28, although trading was moderate because downstream demand was stable, sources told Fastmarkets MB.