April 2020

SHFE STOCKS REPORT 30/04: Base metals stocks fall for third week; copper slumps 10%

Deliverable stocks of base metals in Shanghai Futures Exchange-approved warehouses all declined in the week ended Thursday April 30, with those for copper decreasing the most in percentage terms.

LIVE FUTURES REPORT 30/04: LME nickel price sinks 1.3% on low turnover; copper below $5,200

The three-month nickel price on the London Metal Exchange lost ground at the close of trading on Thursday April 30, closing at its lowest level in more than a week against thin turnover, while selling pressure pushed copper futures below nearby support levels.

BASE METALS WARRANT REPORT 29/04

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 29.

IRON ORE DAILY: Seaborne prices up despite slower trading

Prices in the seaborne iron ore market continued to gain ground on Thursday April 30, in line with higher futures curves for steel rebar, but trading activity in the seaborne and Chinese portside markets slowed down before China’s Labor Day holiday on May 1.

CHINA HRC: Prices up on April's higher steel PMI

China’s domestic hot-rolled coil prices edged up on Thursday April 30, with sentiment lifted by news that the country’s manufacturing activity continued to grow in April.

LIVE FUTURES REPORT 30/04: LME copper price holds above $5,200/t; aluminium sinks below $1,500/t

The three-month copper price on the London Metal Exchange held on to support above $5,200 per tonne during morning trading on Thursday April 30, while a fresh cancellation of 10,000 tonnes did little to support aluminium futures prices.

CHINA REBAR: Domestic prices edge up on higher steel PMI

China’s domestic rebar prices increased slightly on Thursday April 30 on rising futures following the release of the latest steel purchasing managers’ index (PMI).

MORNING VIEW: Metals prices supported by dovish Fed, strength in broader markets

Base metals prices and global equity indices were holding up in high ground this morning, Thursday April 30, helped by the US Federal Open Market Committee’s message of continued support, an expansion in manufacturing activity at China’s larger factories, a stronger oil price and because state-sponsored inventory buying in China bodes well for the metals.

LIVE FUTURES REPORT 29/04: LME copper price holds above $5,200/t in 1.2% uptick; tin loses momentum

The three-month copper price on the LME was higher at the close of trading on Wednesday April 29, staying firmly above nearby support levels despite only average turnover, while tin futures showed some weakness over the afternoon.

GLOBAL NICKEL WRAP: Premiums flat on weak demand in all regions during pandemic

Global nickel premiums held steady amid the ongoing Covid-19 pandemic in the week to Tuesday April 28, with demand lackluster in all regions, sources said.