LME WEEK 2019: The pivotal stories from the biggest week in metals
LME Week 2019 saw metals stuck in the middle of largely bullish supply-side fundamentals and decidedly bearish demand, with the global economy and industry looking shaky.
Chatter in London was largely focused on nickel - with the stainless steel and battery metal’s price soaring on the London Metal Exchange amid major stock drawdowns from the exchange system. Several panels and interviews looked at whether the price could sustain its current highs.
Elsewhere, participants discussed the potential impacts of LME warehousing reforms; explained how US-China trade tensions continue to drag on metal prices and trade flows; highlighted environmental and social duties of the industry; and heard a surprisingly candid account from EN+ chairman Lord Barker of the negotiations that resulted in the removal of US sanctions.
The following contains some of Fastmarkets’ top stories from LME Week.
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