May 2023

LME base metals decline on strong US dollar and weak China data

Base metal prices on the London Metal Exchange were largely trading lower at the 5pm close on Wednesday May 31, under pressure from a more bearish macroeconomic sentiment and a strong US dollar.

LME launches consultations on off-warrant stocks, revamp of closing price methodology

The London Metal Exchange and LME Clear (LME Group) has launched two market consultations to try to bring greater visibility to unwarranted metal stocks and enhance transparency on closing prices.

Weaker Chinese PMI data pressures LME base metals prices further amid demand fears

Base metals prices on the London Metal Exchange were mostly down during morning trading on Wednesday May 31, as weaker-than-expected Chinese economic data continues to weigh on the metals markets while boosting the US Dollar.

US, Italy aluminium premiums down despite recent uptick in Japanese market

Global aluminium markets continued to stray in the week to Tuesday May 30, with premiums in the United States and Italy weakening on slow demand, while the MJP spot premium edged higher.

China to relax import regulations on copper, aluminium scrap in December, sources say

China will once again reclassify the types of copper scrap and aluminium scrap that will be allowed into the country, with bronze and copper-nickel alloy scrap to be allowed in soon, Fastmarkets heard on Tuesday May 30.

LME base metals prices muted on US debt ceiling talks; tin bucks downtrend

Base metal prices on the London Metal Exchange were almost all down at the 5pm close of trading on Tuesday May 30 amid the continuing debate about the US debt ceiling, with only tin bucking the trend.

LME base metals prices mostly under pressure; tin starts day up 3%

London Metal Exchange three-month base metals prices were broadly down during the morning trading session on Tuesday May 30 following a three-day weekend. Tin bucked the downtrend to move up by 3%, however.

LME base metal futures finish the week mostly stronger on positive macro-economic signals

Base metal futures on the London Metal Exchange were mostly up on Friday May 26, with the metals regaining some of their losses from earlier in the week with participants short covering.

Aluminium billet market loses upward momentum as demand fails to materialize

An expected increase in demand for aluminium billet has failed to materialize because of weakness in end-user sectors, with some sellers responding by revising their offer prices downward for spot tonnages and third-quarter negotiations, Fastmarkets has learnt.