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RARE PHOTOS: 3 - The Real Truth

European Commodities: After Asian Supply Shock, What's Next for Nickel?

European Commodity Markets Weekly 25 April 2024

Barchart

European Commodities: Cocoa Continues Its Impressive Rally, But With Less Liquidity and More Risk

Cocoa keeps rising while coffee pulls back, and nickel prices pop on new Russian restrictions.

Barchart

Where are Base Metals Prices Heading in Q2?

The commodity asset class’s base metals sector posted a marginal 0.27% gain in Q1 2023, with tin and copper leading the way on the upside. Three of the six base metals posted gains, while four moved lower, with zinc posting the most significant percentage decline.

Barchart

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Which Commodities are Undervalued Going into 2024?

As we move into 2024, more than a handful of commodities posted significant losses in 2023. The worst performers during one period tend to be the best during subsequent periods in the volatile raw materials asset class.

Barchart

What is in Store for Copper Prices in 2024?

Copper prices have traded on either side of $4 in 2023. Over the past year, copper has poked its head over the $4 level in seven months and was below it for five months. At just below the $3.90 per pound level on December 19, nearby copper futures could be…

Barchart

ShFE Prices Inspire LME's New Metals Contracts Plan

Uncover a radical metal market revolution! LME plans to unveil new, exclusive contracts, utilizing ShFE prices - a move expected to stir up industry currents.

Top News

Why Now Might be a Good Time to Buy Copper

Copper prices have increased over the past month but are not running away on the upside. Copper is a bellwether metal that many market participants monitor for clues about the health and well-being of the global economy.

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Elliott Management paid UK staff average of £1.3m each in 2022

The Guardian - UK

Why Now is Good Time for Investors to Scoop Up Copper

Copper has been consolidating between $3.50 and $4.00 per pound since late April 2023. At just over $3.85 per pound on July 13, now could be the perfect time to begin buying copper as the prospects for higher prices remain compelling.

Barchart

Should Investors be Buying the Dip in Base Metals in Q3 2023?

The base metals sector includes copper, aluminum, nickel, lead, zinc, and tin, the nonferrous metals that trade on the London Metals Exchange. While the CME’s COMEX division offers a liquid copper futures contract, the LME is the world’s leading base metals exchange. In Q2, base metals prices declined.

Barchart

Base Metals in Q2 and Beyond- Dips to Buy?

Barchart

A Mining Legend Says Copper is in the Buy Zone

Copper prices continue to make lower lows after reaching a record $5.01 per pound high in March 2022. The copper market’s technical trend remains bearish, but fundamentals do not support the red metal’s current path of least resistance.

Barchart

Copper Update - Pretty Fundamentals and Ugly Technicals

Fundamental supply and demand analysis finds support from technical analysis; the case for higher or lower prices can be compelling. It creates market confusion when they diverge, leading to sudden and potentially violent price volatility. Copper’s fundamentals remain bullish, but the technical picture has turned ugly.

Barchart

UK to ban Russian diamonds, US sanctions target major gold miners

Britain published plans to ban imports of Russian diamonds, copper, aluminium and nickel on Friday and announced new sanctions against Russia, targeting companies connected to the suspected theft of Ukrainian grain.

Reuters

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Barchart

Copper Falls Below $4 per Pound

Many market participants remain bullish on the prospects for copper prices as Goldman Sachs and other analysts continue to call the red industrial metal the new crude oil. Copper is a critical input in green energy initiatives, boosting demand in an environment where inventories have declined, and new production will…

Barchart

Q1 2023 and Beyond- Base Metals

The base metals sector of the commodities market includes copper, aluminum, nickel, lead, zinc, and tin forwards that trade on the London Metals Exchange and copper futures that trade on the CME’s COME division. The base metals and industrial commodities sector declined in Q1 2023.

Barchart

Base Metals- Q1 2023 and Beyond

Fortune

JPMorgan is the unlucky owner of LME's fake nickel shipments

It's the second scandal involving fake nickel in as many months.

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Evening Standard

London Metal Exchange faces probe into $4 billion chaos in nickel market

The price spike of 250% last March led to cancelled trades and the first suspension of dealing in decades

The Independent UK

Labour group tells Keir Starmer to end Brexit silence by backing new deals with EU

Exclusive: Labour Movement for Europe says there is ‘no excuse’ for leader failing to back closer ties – proposing trade, energy and security

Caixin Global

Elliott Associates Sues LME for $456 Million in Nickel Debacle

HKEX’s London Metal Exchange wrongfully canceled trades in March price spike, American vulture fund alleges in U.K. lawsuit

Evening Standard

London Metal Exchange sued for £360 million over suspended nickel market

The London Metal Exchange is being sued for $456 million (£363 million) over its decision to suspend nickel trading and cancel a day of trades.

The Guardian - UK

London Metal Exchange sued for $456m over cancelled trades

US hedge fund Elliott Management criticises decision to halt nickel trading after spike in prices

Evening Standard

LME boss Matthew Chamberlain reverses decision to leave after nickel market chaos

The boss of the London Metal Exchange has reversed an earlier decision to leave, pledging to help fix the market instead following the controversial suspension of nickel trading last month.

Benzinga

Surging Power Prices Trigger Severe Metal Crisis: FT

Inventories of aluminum, copper, nickel, and zinc, four of the main contracts traded on the London Metal Exchange, have plunged by up to 70% over the past year, as record power prices in Europe hit production and the Ukraine war threatened output from Russia, the Financial Times reports. Traders and big…

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