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‘Unprecedented’ period for commodities sees base metals under pressure: LME Week
The base-metals commodity markets are going through an “unprecedented” period, Saad Rahim, chief economist at global trader Trafigura, said at the London Metal Exchange’s own metals seminar which started the 2023 LME Week event in London on Monday October 9
October 17, 2023
·
By Laura Roberts
Insights
Share of Russian, Chinese nickel in LME warehouses grows amid weaker demand
Nickel metal produced in China has appeared in the London Metal Exchange warehouse system for the first time since the exchange began reporting its country-of-origin data in January 2023
October 16, 2023
·
By Callum Perry
Insights
Aluminium prices bullish outlook, will it last into 2024?
The aluminium market is experiencing a bullish sentiment, with rising prices. As we reach the end of the financial year, aluminium buyers are left wondering if this trend will last
October 12, 2023
·
By the Fastmarkets team
Insights
Copper prices, capital costs driving project decisions, Freeport says: LME Week | Hotter Commodities
The price of copper and capital costs will be central to Freeport-McMoRan’s decision on the timing of an expansion at its Bagdad copper operation in the US state of Arizona, the president of the US producer told Fastmarkets
October 11, 2023
·
By Andrea Hotter
Insights
China copper premium rises after holiday; US premium faces pressure: LME week
China’s premium for copper cathode imports increased after the country’s golden week holiday from September 29 to October, supported amid favorable import conditions, while the premium in the US copper market came under pressure due to excess supply, sources said
October 11, 2023
·
By Sally Zhang, Orla O'Sullivan
Insights
LME trialing VWAP expansion ahead of January launch, CEO says: LME Week | Hotter Commodities
The London Metal Exchange (LME) is trialing the expansion of its closing price methodology across five of its base metals contracts ahead of launching next year, the exchange’s chief executive officer told Fastmarkets
October 9, 2023
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By Andrea Hotter
Insights
Nickel industry rules out Class 2 products for LME contract delivery, CEO says: LME Week | Hotter Commodities
Nickel market participants rejected the idea of making nickel sulfate or other Class 2 products eligible for delivery against the Class 1 London Metal Exchange (LME) contract and want the exchange to instead focus on fixing the existing contract, according to the LME chief executive officer
October 9, 2023
·
By Andrea Hotter
Insights
LME CEO confident in stability of nickel contract: LME Week | Hotter Commodities
While there’s more work to be done, stability has been restored to the London Metal Exchange nickel contract and confidence in its value as a pricing mechanism is starting to return, according to the exchange’s chief executive officer
October 9, 2023
·
By Andrea Hotter
Insights
Weak demand across global base metal markets as LME warehouse stocks continue to climb: LME Week
Rising base metal stock levels on the London Metal Exchange continue to highlight a poor physical demand environment, with the anticipated return in global demand remaining a key talking point ahead of LME Week, participants told Fastmarkets on Friday October 6
October 9, 2023
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By the Fastmarkets team, Imogen Dudman, Albert MacKenzie, Josh Fulton, Laura Roberts
Insights
Bearish investors hinder near-term copper, but outlook still strong, Codelco chair says: LME Week | Hotter Commodities
The short-term outlook for copper is being understandably muted by investors’ macroeconomic and geopolitical concerns despite an ongoing positive story for the longer term, the chairman of Chilean state-owned copper producer Codelco said in an interview
October 9, 2023
·
By Andrea Hotter
Insights
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