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Metals Industry News

Backwardation fades in LME zinc three-month spread to single-digits

Base Metals Market - Fri, 07/05/2019 - 12:48
Backwardation in zinc has been a persistent theme in the market since the start of 2019, but the tightness in the cash-to-three-month spread on the London Metal Exchange has largely waned over Thursday-Friday July 4-5, with no significant deliveries into the exchange’s sheds.
Categories: Metals Industry News

Deadline for sales of Alcoa’s La Coruña and Avilés smelters extended to July 31

Base Metals Market - Fri, 07/05/2019 - 11:58
Alcoa and its workers’ unions in Spain have reached an agreement to extend the deadline to complete a sale of La Coruña and Avilés aluminium smelters to Swiss private equity fund Parter Capital.
Categories: Metals Industry News

LIVE FUTURES REPORT 05/07: LME base metals prices dip; zinc falls 2.1%

Base Metals Market - Fri, 07/05/2019 - 11:46
Trading in the base metals on the London Metal Exchange was subdued on Friday July 5 in the absence of many participants a day after the Independence Day holiday in the United States.
Categories: Metals Industry News

MORNING VIEW: Base metals prices under pressure again while economic headwinds persist; participants await US employment report

Base Metals Market - Fri, 07/05/2019 - 09:44
Market participants seem to be waiting for the next development to provide direction and that is likely to come from the US employment report due later on Friday July 5.
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LIVE FUTURES REPORT 05/07: SHFE base metals prices broadly range-bound; zinc, lead down over 1%

Base Metals Market - Fri, 07/05/2019 - 04:37
Base metals prices on the Shanghai Futures Exchange were mostly range-bound during morning trading on Friday July 5 while investors awaited the key US jobs report due later for possible clues on the Federal Reserve’s policy decision at the end of the month.
Categories: Metals Industry News

Minmetals’ possible takeover of Yunnan Tin 'would be good for market'

Base Metals Market - Thu, 07/04/2019 - 21:15
Yunnan Tin Group (YTG) has begun negotiations for its potential incorporation into China Minmetals Corp (CMC), according to a notice released on June 17 by Shanghai-listed Yunnan Tin Co Ltd, a wholly owned subsidiary of YTG.
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ALUMINA SNAPSHOT: Discount for Atlantic units widens; global alumina prices continue to fall

Base Metals Market - Thu, 07/04/2019 - 20:00
Key data from the July 4 pricing session in London and Shanghai.
Categories: Metals Industry News

LIVE FUTURES REPORT 04/07: Low turnover caps range-bound LME base metals prices

Base Metals Market - Thu, 07/04/2019 - 18:42
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday July 4, with price movements largely subdued by a national holiday in the United States while volumes traded were markedly lower.
Categories: Metals Industry News

LIVE FUTURES REPORT 04/07: LME base metals price consolidate in mixed trading; tin finds support

Base Metals Market - Thu, 07/04/2019 - 10:20
Base metals prices on the London Metal Exchange were mixed across morning trading on Thursday July 4, with low liquidity capping three-month prices in broadly narrow ranges.
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MORNING VIEW: Base metals remain in choppy waters with prices low enough to find support, but lack inspiration to climb

Base Metals Market - Thu, 07/04/2019 - 09:23
While US equities remain upbeat on expectations for looser monetary policy, the base metals continue to reflect the soft economic conditions brought about by the lack of a United States-China trade deal.
Categories: Metals Industry News

LIVE FUTURES REPORT 04/07: SHFE base metals stage broad recovery; Ni up 0.8%

Base Metals Market - Thu, 07/04/2019 - 05:35
Base metals prices on the Shanghai Futures Exchange were mostly up during morning trading on Thursday July 4, following record closing highs for US stocks on Wednesday.
Categories: Metals Industry News

IN CASE YOU MISSED IT: 5 key stories from July 3

Base Metals Market - Thu, 07/04/2019 - 00:05
Here are five Fastmarkets MB stories you might have missed on Wednesday July 3 that are worth another look.
Categories: Metals Industry News

LIVE FUTURES REPORT 03/07: LME tin price recovers losses in high-vol trading; Ni follows higher

Base Metals Market - Wed, 07/03/2019 - 17:42
Tin’s three-month price on the London Metal Exchange climbed by more than 3% at the close of trading on Wednesday July 3, settling above the nearby $18,000-per-tonne resistance level after sliding by more than 6% at Tuesday’s close.
Categories: Metals Industry News

GLOBAL NICKEL WRAP: China premiums drop on closed arb window, good supply; EU, US premiums flat on price volatility, illiquidity

Base Metals Market - Wed, 07/03/2019 - 17:24
Chinese nickel premiums dipped in the week to Tuesday July 2 while the closed import arbitrage window and sufficient supply of material in the region dampened physical appetite for the metal and European and United States’ premiums continued to trade flat on holiday season illiquidity.
Categories: Metals Industry News

Open Mineral named Tech Pioneer by World Economic Forum

Base Metals Market - Wed, 07/03/2019 - 17:12
Open Mineral Exchange beat hopefuls to be named one of 56 Technology Pioneers of 2019 by the World Economic Forum (WEF) in Zug, Switzerland, on July 1 for its trading platform.
Categories: Metals Industry News

ALUMINIUM ARB INDICATOR: Lack of risk appetite keeps participants away from slightly wider US aluminium arbitrage

Base Metals Market - Wed, 07/03/2019 - 16:20
Market participants avoided sending aluminium to the United States in June despite a widening arbitrage between Southeast Asian warehouses and the US Midwest, with uncertainty about tariffs continuing to limit risk appetite.
Categories: Metals Industry News

GLOBAL TIN WRAP: Premiums flat across the board while participants question LME price instability

Base Metals Market - Wed, 07/03/2019 - 16:00
Tin premiums in Europe, North America and Asia were stable over the week to July 3, with demand reportedly slowing before the summer period, while a recent slump in LME tin’s three-month price to a four-year low has prompted further questions about the LME tin price’s current instability.
Categories: Metals Industry News

GLOBAL COPPER WRAP: Tight Chinese credit, arb loss weigh on Shanghai premiums; Southeast Asia, Taiwan premiums tick up

Base Metals Market - Wed, 07/03/2019 - 11:41
Shanghai copper premiums fell in the week ending Tuesday July 2 after import arbitrage losses widened, while copper premiums in Italy and the United States were flat amid stagnant demand.
Categories: Metals Industry News

PEOPLE MOVES: Marc Bailey to replace Overlander as Sucden Financial CEO

Base Metals Market - Wed, 07/03/2019 - 11:40
Michael Overlander will leave his role as chief executive officer at Sucden Financial and move to become non-executive Chairman of the company, effective of January 1, 2020.
Categories: Metals Industry News

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