May 2020

LIVE FUTURES REPORT 29/05: Zinc price up 2.5% but still closes below $2,000

The three-month price of zinc on the London Metal Exchange rose by 2.50% during trading on Friday May 29 to close at $1,988 per tonne.

Covid-19 will hit LME nickel hardest of all base metals - Citi

End-use demand for nickel will be so badly affected by Covid-19 that the London Metal Exchange nickel price will recover at the slowest pace among the base metals, Citi analyst Oliver Nugent told Fastmarkets.

IRON ORE DAILY: Seaborne iron ore prices rise sharply on concerns over supplies from Brazil

Seaborne iron ore prices increased rapidly on Friday May 29 on growing concerns over supplies from Brazil.

COKING COAL DAILY: Seaborne premium prices slump after emergence of lower-priced deals

Premium hard coking coal prices slumped after lower transaction prices emerged on Friday May 29, amid concerns that quota restrictions in China will be tightened.

SHFE STOCKS REPORT 29/05: Copper stocks plunge 17%; lead gains 16%

Deliverable stocks of base metals in Shanghai Futures Exchange-approved warehouses moved in different directions in the week to Friday May 29, with copper posting the biggest decline, while lead saw the biggest gains.

LIVE FUTURES REPORT 29/05: LME copper holds gains on 17kt cancellation; rest of complex subdued

The London Metal Exchange three-month copper price held on to the previous day’s gains during morning trading on Friday May 29, while a second consecutive day of fresh cancellations of metal offered support to LME copper futures.

MORNING VIEW: Markets mixed; participants remain nervous about US response to China over Hong Kong

Broader markets were generally weaker this morning, Friday May 29, while they wait for what United States President Donald Trump’s response will be to China’s plans to impose national security laws in Hong Kong.

LIVE FUTURES REPORT 28/05: LME copper price passes $5,300/t in 1.3% rise

The LME three-month copper price was again trading above the psychological $5,300-per-tonne level on Thursday May 28, ending the day up 1.3% day on day at $5,322.50 per tonne, buoyed by the fresh cancelation of 19,000 tonnes earlier in the day.

Alcoa brings consultation for collective dismissal at San Ciprián smelter

Aluminium producer Alcoa said it has started a consultation period for a collection dismissal process for staff, as well as the possible shutdown, of its San Ciprián aluminium smelter in Spain.

IRON ORE DAILY: Seaborne prices rise amid surge in mid-grade ore market activity

Seaborne iron ore went up on Thursday May 28 with mid-grade iron ores such as Newman fines and Pilbara Blend fines from Australia performing well, sources told Fastmarkets.