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Metal Price News Week 22

Week 22 most important news, that have affected the metal prices

Todays commodity prices

3 months LME USD 1.510 / EUR 1.375

3 months CLME USD 5.360 / EUR 4.890

 

As many major economies are reopening the demand for commodities are slowly picking up. Aluminium have breached USD 1.500 per ton, and copper has breached USD 5.300 per ton several times. Due to stronger aluminium prices and demand this past week the alumina prices have risen as Chinese buyers have payed above market prices.

 

Generally there is an optimism at the financial markets at the moment, and the investors are taking risk-off. Japan have revoked the state of emergency and at the same time announced new economic stimulus for approx. USD 900 bio. The German GDP (Gross Domestic Product) yesterday showed a decrease of 2,2% compared to last quarter, this was as expected, and the financial markets were relief when the fall was in line with expected.

 

The discussions between USA and China, at the moment over Hong Kong and the trade agreement, are the topics to be aware of. If these discussions escalates further the commodity prices could start to fall again.

 

Factors that makes the price higher

News reading coronavirus.

Announcement of public stimulus in China, Europe and USA.

Trade agreements between China and USA.

 

Factors that makes the price lower

News regarding the coronavirus.

Low economic growth from China, US and Europe.

The trade war between China and USA. There is a possibility that there will not be an agreement before the summer 2020.

 

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