Metals News
Base Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade
industry news
Sep 6,2015

By  Paul Ploumis 04 Sep 2015  Last updated at  04:10:29 GMT 


Base Metals: LME metals increased in the first held as risk sentiments improved on speculation that Fed may go for delay in rate hikes on downbeat of US economic data but later on ECB Draghi dovish comment put pressure on Euro against USD. Copper took a breather today but was set to log a second weekly gain, with traders expecting a short-covering rally to gain steam given thin liquidity due to holidays in China. Nickel climbed 2%, Copper 2.5%, Aluminum 1% while lead and zinc stabilized last night. We may see some correction in initial trading but buying can do in specific counters like copper, Nickel as recovered well from six years low. Copper also getting support from supply disturbances as Peruvian mine shut due to strikes. Zinc and lead looks flattish as overvalued counters.

Change in
Change in
CW % of
Aluminum-85253237800500122647537.88CW ratio started improving from the lowest pace
Copper-1850360825129006557518.17Canceled warrants jump 36% to highest since July 14
Nickel-366453678-240615798034.82Stocks have fallen very sharply from highest levels in
Lead-375017950003455019.25Cancelled warrants 26% in the last week
Zinc-225528900014567527.54Stockpiles in Antwerp double to highest since Feb 14

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