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Base Metal Prices Fall on Shfe, Nickel Leads Downside
Prices of most base metals listed on the Shanghai Futures Exchange (SHFE) fell in the morning session on Thursday, June 12, with nickel falling sharply, reflecting a combination of macroeconomic pressures and market fundamentals. The prices of the most active SHFE...
Trans-Pacific Container Rates Rise Strongly as Peak Season Starts Earlier
Trans-Pacific container rates to the U.S. West Coast doubled in the week ending June 1, hitting $5,488 per forty-foot equivalent unit (FEU), driven by an early peak season and heavy frontloading activity by shippers. The latest data shows rates above $6,000/FEU, with...
LME Stocks Rise in May as Aluminium and Lead Growth Offsets Copper Slump
Total open stocks in London Metal Exchange (LME) warehouses rose 6.4% in May to 880,419 tonnes from 827,565 tonnes in April. The monthly increase reversed a sharp 24.3% year-on-year decline (1,163,127 tonnes in May 2024), and was driven by a near-doubling of lead...
Copper Spreads in Sharp Backwardation on LME: Pressure from Declining Inventories and Arbitrage Activity
The copper market on the London Metal Exchange (LME) showed a picture of increasing tension on Tuesday 10 June, with spreads in sharp backwardation, driven by a sharp drop in registered inventories and a new wave of warrant cancellations. In just two days, over 16,000...