Marex @MarexGlobal Twitter profile

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Marex

@MarexGlobal

6 years

#LME #copper stocks this morning fell to 143,125t, just north of the 141kt lows from April 2016 and Aug 2014. Prior to this you would need to go back to July 2008 to see lower levels. #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

#Copper global inventory now at multi-year lows. #LME on-warrant stocks dip to 80.9kt, lowest since Dec 2005. Cancelled material is exiting the warehouses. Curve stops reflecting the tightness & starts regulating near-term demand. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

3 years

#Copper up today - appears set for an almost 7% increase this quarter, as demand recovers. But it is #tin , aluminium & #lead that have outperformed this quarter on tight supplies. #AnnaStablum #AsiaReport

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Marex

@MarexGlobal

6 years

Sharp rally in base #metals today with #Copper & #Nickel in the spotlight rising 4.6% and 5.0% by close, although most metals made session highs on lates. Follows reports of China plans to cut tariff rates on imports & further reducing VAT. #DeePerera #LondonClose

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Marex

@MarexGlobal

5 years

#LME #Copper on-warrant stocks have tumbled 36kt (-47.6%) to 39.8kt, a low not seen since 2005. Flat price rallies to $6471. A sharp turnaround in the last hour sees the #SHFE comp rally to levels not seen since the last week of Sep. #AlMunro #LondonReport #commodities #metals

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Marex

@MarexGlobal

6 years

#Copper appeared to takes it cue from the #USD for much of the day, then reports out from #Codelco of being almost sold out of the #metal on strong demand. Settled nr session highs at $6292 (+1.8%). #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

World 1st structured product transacted & custodied using #blockchain Created by @MarexSolutions , partnered by Chartered Opus, on ResonanceX platform, with @nivaura #tech , @ALLENANDOVERY legal support, & executed in FCA sandbox. #revolutionisingfinance

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Marex

@MarexGlobal

3 years

Base #metals see an increase in net spec length in the week to Thursday 29th July. #Tin continues to exhibit the largest long followed by #Lead . Meanwhile the #Copper net spec long picks up from YTD lows... #Nanolytics

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Marex

@MarexGlobal

5 years

Good luck to all those taking part in this Sunday's @LondonMarathon . Look out for our very own @MarexSpectron rhino running for @savetherhino . Weighing in at 10kg, this adds an extra challenge to the 26 miles... To sponsor us click on

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Marex

@MarexGlobal

3 years

Speculators trimmed their net long positions across the main #LME base metals, except for #Tin , over the past week through Thursday, according to our #Nanolytics data. The net long in #Copper was erased.

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Marex

@MarexGlobal

6 years

#Copper is the only metal not to have traded back beneath its closing level of last night following a strong Comex bid right from the open whilst the rest of the metals have chopped either side of last nights closes. #MattFrance #AsiaReport #SHFE

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Marex

@MarexGlobal

3 years

According to our #Nanolytics data, net length in #LME base metals falls for a second consecutive week on 27 May. Speculators are neutral #nickel , while the net long in #tin is the largest among the main LME #metals .

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Marex

@MarexGlobal

5 years

#Copper is the only #metal to breach 24hr trading range, pushing above yday's highs triggering some decent Western short covering with the current highs having been made during the lower liquidity #SHFE lunch break. #MattFrance #AsiaReport #metals

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Marex

@MarexGlobal

5 years

#Copper rallied to a fresh high not seen since Jul 2018 amidst a pickup in stock markets and crude. Today marks the 6th up day in a row. This is the first time we have seen this since May/June last year when the market made the $7348 high. #DeePerera #LondonClose #metals #LME

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Marex

@MarexGlobal

3 years

A net long position returned in #Zinc and a net short was erased in #Aluminum last week, according to our latest #LME Analytics data through last Thurs. In #Nickel , a small net long appeared. Investors were pretty neutral #Copper and #Lead .

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Marex

@MarexGlobal

6 years

Sharp reversal in EUR/USD boosted #metals this afternoon. US equity markets also rallied. Closes were strong with most #metal settling at session highs. #Copper was today’s outperformer, led by #Comex , settling up 2.3% and extending its climb on lates. #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

#Copper sees very good volume overnight with 6.4k lots trading by 8am, +67% on the 20-day avg. Intraday range contracts this week, although expect near-term resistance into $6780-820 area basis 10-day ATR and 38.2% fibb of YTD high to low. #AlMunro #LondonReport #metals #LME

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Marex

@MarexGlobal

6 years

#Copper 3m spanned a range of $101, running into resistance at 22 Mar high of $6999, before settling at $6975 (+1.1%). Curve tightened considerably, with Jun-Sep moving $12.5 to $1.25c. Now see spec positioning in the #metal as largely neutral. #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

#Copper currently looks set to be the outperformer this month (+5.1% as of yday close) amidst short covering. Our ests suggest spec short in the #metal sits at 11% of OI (cob Mon), this is down from 30% of OI in mid-Jul. Expect supp into $6200. #AlMunro #LondonReport

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Marex

@MarexGlobal

3 years

#Copper advances to an almost decade high among a broader rally in #commodities as #USD weakens to a 2-month low. #SGX #iron ore & #steel hit record highs as environmental curbs in China tightened supplies of metals. #AnnaStablum #AsiaReport #basemetals #metals

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Marex

@MarexGlobal

6 years

One eye on #copper stocks with on-warrant climbing to 100kt last, while total stocks at 124.5kt sit at lows not seen since 2008. #Yangshan premiums ticked up from $62.5 on Mon to $67.5 last. Next resis on flat price $6230 basis a move of the 20-day ATR. #AlMunro #LondonReport

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Marex

@MarexGlobal

6 years

Base #metals bounced back despite a cont’d recovery in #USD , with a pm bid seeing most #metal close nr session highs, with #nickel up 4.7%! Vols were impressive even in the absence of Chinese mkt. #DeePerera #LondonClose #commodities #LME #COMEX #futures #copper #aluminium #tin

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Marex

@MarexGlobal

2 years

Marex today agreed to acquire ED&F Man Capital Markets, the financial services division of ED&F Man Group, a move that expands the business across Clearing, Metals, Fixed Income and Equities, and expands the firm's global footprint.

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Marex

@MarexGlobal

6 years

Base #metals | Whilst there remain CTA sell progs on #London open, we are starting to see a small change in flows with buying also emerging on some metals. We await announcements from annual #China economic meeting for 2019. #AlMunro #LondonReport #metal #LME #SHFE #copper

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Marex

@MarexGlobal

6 years

Having hit $6308, #copper retreated to settle at $6225 (+0.8%). Vols did improve & by close they were +16% on 20-day avg. All 3 major exchanges exhibit net spec shorts in the #metal (our ests), the largest being #COMEX at 24% of OI. #DeePerera #LondonClose #basemetals #metal

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Marex

@MarexGlobal

6 years

All focus on #zinc this am, jumping as #SMM reports #China smelters plan to cut output by 10% (altho no source cited on the claims). #LME on-warrant zinc stocks fall 6%. The #metal exhibits largest spec short of the complex on our estimates... #AlMunro #LondonReport #basemetals

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Marex

@MarexGlobal

6 years

#Copper data | #China imports of unwrought/ products up 8% m/m and 22% y/y, to the level highest in 17 months & highest May figure in a decade. #Scrap imports fall 36.7% y/y in April. Cochilco reports #Codelcos April copper production fell 12% m/m. #AlMunro #LondonReport

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Marex

@MarexGlobal

6 years

#Zinc aggressively rallied to just over $2600 - a key area of resis over past week - which is where it settled (+3.5%). Saw consumer buying & spec short covering, prompted perhaps by #NBS release that showed China Zinc output fell 5% y/y to y/y in June #DeePerera #LondonClose

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Marex

@MarexGlobal

7 years

#ZINC up 3.4% at last night’s close with systematic buy progs evident over the past few sessions. Breach of $3200 area opens potential for test of recent highs into $3265/75 area #AlMunro #LondonReport

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Marex

@MarexGlobal

3 years

#Copper looks set for the biggest weekly gain in the past two months as Chinese buying re-emerged & #USD softened. Quarterly Chinese data jumped to a record from last year, but slowed from the fourth quarter. #AnnaStablum #AsiaReport #basemetals #metals #SHFE #LME

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Marex

@MarexGlobal

6 years

#Copper nailed it as it ripped to fresh high of $7348, a level not seen since Jan 2014 (peaked at $7460), before settling at $7332 (+1.6%). Evidence of short covering, also cash selling for 2nd ring close. #SHFE agg OI conts to rise +14.5% so far in June. #DeePerera #LondonClose

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Marex

@MarexGlobal

7 years

#NICKEL was last week's underperformer reaching a low of $10,940 on Fri before closing in the black. Rebound continues this am amidst rally in #ferrous with #Ironore hitting highs not seen since 9th Sept. #AlMunro #LondonReport #Basemetals

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Marex

@MarexGlobal

5 years

“The [ #ironore ] price spike is starting to introduce new supply into the market...” commented #GeorgiSlavov @MarexSpectron .

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Marex

@MarexGlobal

6 years

#Nickel was today’s outperformer, with #SHFE evening session seeing a bid & it settled at session highsat $14,500. The 38.2% fibb retrace of YTD high to low comes in at $14,970. NB SHFE agg OI has jumped 12% since Friday morning to 724k lots last. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

6 years

#Copper was the only #metal to see avg turnover today with 18.2k lots trading by 17:30. Flat price settled at $7255 (-0.8%). Our est spec positioning is largely neutral on #SHFE while #LME exhibits a modest spec long. #LondonClose #DeePerera #base #metals

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Marex

@MarexGlobal

6 years

#Nickel rose to $14,375, mid-Feb levels, before settling at $14,335 (+2.8%). Key resis remains $14,420 high from 15 Feb. On wires Vale reported Q1 nickel output fell 18% y/y to 58.6kt, but expects this to rise to 65kt in Q2. #DeePerera #LondonClose

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Marex

@MarexGlobal

5 years

With #LME launching 7 new contracts today, @Marex Spectron is delighted to be the 1st to broker LME #Aluminium Premium!

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Marex

@MarexGlobal

5 years

#Savant Global #Copper #Smelting Index, the unique copper index launched by @Earthi_ & Marex Spectron, saw a small decline in November’s average global smelting activity compared to October, but saw an uptick towards the end of the month. #China #metals

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Marex

@MarexGlobal

6 years

A #zinc bid into close saw the #metal settle at session highs of $3122 (+0.7%). Key resis into 31 May high of $3164.5. According to our ests, spec short in #zinc has been covered & the #metal now exhibits a largely neutral stance. #DeePerera #LondonClose #base #metals

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Marex

@MarexGlobal

6 years

#Coffee mkts late yday & early AM today showed big signs of capitulation as prices accelerated lower on heavy vols. Intraday prices reversed sharply with #Robusta rallying $55 off its low, #Arabica was even more impressive rallying a huge 7.5 cents. #CoffeeReport

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Marex

@MarexGlobal

4 years

Our #Nanolytics #LME data now shows #TIN exhibits the largest net spec long as a percentage of open interest, followed by #COPPER (through to last Thursday). #basemetals #metals #commodities #positioning

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Marex

@MarexGlobal

6 years

Ydays sellers are today's buyers. #Zinc & #copper have outperformed the 20 day avg with the former particularly finding a decent onshore bid. #Aluminium & #nickel have been the most consistently bid all day. No #metals have tested yday low prints. #MattFrance #AsiaReport

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Marex

@MarexGlobal

4 years

Mixed moves in #base #metal spec positioning in the week leading up to Thurs 20 Feb. The net spec short in #aluminium rebuilds with the metal exhibiting the largest short of the complex once again... #Nanolytics #analytics #LME #estimates #positioning

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Marex

@MarexGlobal

7 years

Sudden media interest in #cryptocurrencies puts the #dotcom era to shame (see comparative #charts ). #CryptoCurrencies #Ethereum #blockchain #litecoin #cryptocurrencynews #Crypto #Bitcoin #zerotohero #Hypeorthenewreality

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Marex

@MarexGlobal

6 years

A #zinc surge saw it settle at $3199.50 (up 2.5%) making it the outperformer in base #metals today. This was the highest settle since 24 April. Expect resis into $3210 area that marks the 38.2% fibb retrace of YTD high to low. #DeePerera #LondonClose #metal

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Marex

@MarexGlobal

4 years

O'night session again brings an onshore bid with #Zinc seeing much higher volumes than avg. Shanghai is running record shorts on the #metal & IF as the market hope, Chinese authorities announce any sort of fiscal stimulus package, it should benefit. #AlMunro #LondonReport #metals

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Marex

@MarexGlobal

7 years

#COPPER cont's to exhibit the largest long in the #BASEMETAL complex on our est at 9.9% of OI (as of Mon close), back to levels not seen since July & significantly below the multi-year high of 58% registered in early-Sept. #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

“Incredibly long, but shallow, bull market for #copper ....The best time to bet on a [ #base #metals ] bull market is when everyone doubts it.” #GuyWolf @MarexSpectron #LMEWeek #nickel #aluminium #zinc #lead #basemetals

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Marex

@MarexGlobal

6 years

#Zinc spec long down substantially from 29% of OI at start of month, to 1.3% as of Tue. 3m traded in a range of just $16 overnight (tighter than any other metals) as it hovers close to yday $3595.5 peak - a level not seen since 2007. #AlMunro #LondonReport #metals #base #LME

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Marex

@MarexGlobal

4 years

Our June Global #Copper Smelting Index shows a small increase in smelting activity from the previous month despite incr number of maintenance outages & reduction in Chinese activity, but clear bifurcation btw N America & China. @Earthi_ #satellite

Rise in China copper production suggests ‘robust’ recovery

Second consecutive increase in June feeds optimism for world’s second-biggest economy

www.ft.com

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Marex

@MarexGlobal

6 years

#Copper down 0.3% on the day but the clear outperformer this week up 6.0%. Yday multi-year high of $7348 likely to provide short-term resistance & above that the $2460 high from Jan 2014. #LME spec long is 2.5% of OI a level not seen since Feb. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

6 years

9-days until #LMEWeekAsia where Dr #GuyWolf , Global Head of Analytics, will update the mkt on the latest insights from our proprietary #Nanolytics analysis. Click to see Dr Wolf’s #nickel presentation from last October's #LME Week London. #metals

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Marex

@MarexGlobal

6 years

#Copper pickedup as #USD temp weakened, but unable to break $6k & settled at $5986.5 (-0.3%). #LME on-warrant stocks fell a further 12.9kt today, now down 51.5kt this week. #LME spec short sits at 24% of OI (COB Tue) while #Comex is 28% of OI. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

6 years

#Nickel again outperforming this morning with shorts on London getting squeezed. Now eyeing $14,587 which is the 50% retrace of the whole move from May 14 high of $21,625 to Feb 16 low of $7550. #AlMunro #LME #LondonReport #metals #traders

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Marex

@MarexGlobal

6 years

#Nickel today hit a low of $14,930, finding some support into $38.2% fibb retrace of YTD high to low which comes in at $14,970, & settled at $14,975t (-1.4%). Turnover was particularly light -37% on the 20-day avg. #LondonClose #DeePerera #base #metals

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Marex

@MarexGlobal

6 years

#Copper 3m under pressure as #SHFE resumes post lunch - back to Oct 2017 levels. Expect supp in the Sep lows c $6400 area. #Yangshan premiums also back to Oct 2017 levels. #SHFE agg OI increases 22k lots or 3.3% in signs of fresh #shorts . #AlMunro #LondonReport #metals

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Marex

@MarexGlobal

6 years

#Nickel still largest long in #base complex. Rallied overnight & made session high of $14,080 in late morning before settling +1.6%. Next wk we have the Shanghai @metalbulletin conference that may result in some nickel headlines. #DeePerera #LondonClose #base #metals

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Marex

@MarexGlobal

6 years

#Iron ore above $90 a tonne #metals #commodities

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Marex

@MarexGlobal

2 years

"Politics has beaten economics," said Marex...

Lula's fuel tax U-turn likely to hit sugar, ethanol industry

Brazilian sugar and ethanol companies are likely to be negatively impacted after Brazil's new President Luiz Inacio Lula da Silva surprised markets with a decree that keeps fuels exempt from federal...

www.reuters.com

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Marex

@MarexGlobal

6 years

On one hand #Glencore on wires indicating that global #nickel consumption will outpace supply by 124kt next yr from a deficit of 178kt this year. On the other #LME nickel net spec short expanded to 10.7% of OI as of Tue close. #AlMunro #LondonReport #metals #SHFE #commodities

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Marex

@MarexGlobal

6 years

#Copper consolidating around $6800. We cont to see #CTA selling in recent sessions met by Far Eastern buying & arb support. Expect some supp into $6710-30 area. On wires early wage talks at Cerro Verde in Peru appear to have stalled. #AlMunro #LondonReport #metals

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Marex

@MarexGlobal

6 years

China and EM rallies driving #metals higher on short covering & fresh spec buying. Strong vols across complex, with only #aluminium & #nickel marginally beneath 20 day ma. #Zinc in particular well bid & prices up well bid from start. #MattFrance #AsiaReport #commodities

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Marex

@MarexGlobal

5 years

#Copper flat price tumbled to $6155 overnight with 4.3k lots trading within the first two hours of the open. The modest bounce was quickly erased after #LME stocks release that showed a 41kt or 46.5% increase in on-warrant inventory. #AlMunro #LondonReport #metals

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Marex

@MarexGlobal

6 years

#Copper stocks dip just 0.5% today to 135kt, but over past 7 sessions stocks have declined 99kt to levels not seen since Sept 2017. Reports suggest workers striking at #Andina Copper mine in Chile are unlikely to accept latest wage offer. #AlMunro #LondonReport #metals #LME

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Marex

@MarexGlobal

3 years

Our #Nanolytics data shows all base #metals except #Tin saw length liquidate in the week to Thurs 17 June. #Ali exhibits the largest net spec long after Tin; meanwhile the #Copper net spec long has fallen to YTD lows...

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Marex

@MarexGlobal

3 years

After falling 1.7% last week, #copper rebounds today on possible supply disruptions in Chile as BHP's remote operation center votes to strike. #AnnaStablum #AsiaReport #SHFE #LME

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Marex

@MarexGlobal

6 years

#Nickel has been today’s #base laggard despite reports from the #Philippines #mines bureau that ore output fell 6% last year, with a number of mines under maintenance or closed for environmental issues. Exhibits 2nd largest long in complex after #tin . #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

#Zinc led the pack today, settling nr session highs at $2434 +3.6%. The rally began swiftly overnight with an onshore bid. NB #SHFE agg OI has risen 62k lots since Mon morning/ onshore tightness/ China Zinc premiums at levels not seen since 2013. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

5 years

#Nickel has been outperformer this month +15%, with #lead the only other #metal in black & rest of complex suffers from #macro worry/ lack of genuine demand. #China PMI data tmw is important on expectation that infrastructure spend shld pick up end of yr #AlMunro #LondonReport

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Marex

@MarexGlobal

6 years

Marex Spectron today announced an agreement to acquire Dublin-based Energy Broking Ireland Limited, a leading Irish energy broker, in a deal expected to complete in February. To see release #energy #gas #Ireland #Mifid #Dublin #broking

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Marex

@MarexGlobal

5 years

As a world leading #commodity broker, we provide our clients with unrivaled breadth of coverage across #metals , #energy & #agricultural markets, with leading franchises, and extensive range of services and intellectual content across all commodity markets

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Marex

@MarexGlobal

6 years

Macro conts to dominate #metals . #Zinc has been the only #metal to register above avg vols, atho we note spec selling. Trade for month/ quarter end & #lead still exhibits largest short, as well the underperformer over the 3 months thus far -17 mtm. #AlMunro #LondonReport

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Marex

@MarexGlobal

5 years

#Savant Global #Copper #Smelting Index, a unique copper index launched by @Earthi_ & Marex Spectron, shows a small increase in global copper smelting activity in December, with the index particularly strong in the first half, offsetting a decline in the second.

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Marex

@MarexGlobal

6 years

Something for a #Friday .... Marex Spectron #Metals . #alloy #aluminium #cobalt #copper #gold #moly #NASAAC #nickel #palladium #platinum #silver #tin #zinc #broking

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Marex

@MarexGlobal

6 years

Very positive across the #base complex - all metals gaining strongly fuelled by onshore short covering and Western stop loss buying through ydays highs. #Copper the standout in terms of volume, over 3.5k #LME lots trading within an $85 range. #MattFrance #AsiaReport #metals

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Marex

@MarexGlobal

6 years

#Nickel & #zinc appear to have benefited from the pickup in #ferrous post GoldenWeek. Back at levels not seen since 26 Sept. Settles at $13,010 (+3.5%). #SHFE agg OI up another 11k lots this pm to 375k lots. #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

7 years

#ZINC hit multi-year high of $3359 this am, a level not seen since 2007. The metal exhibits the second largest long of the complex (our est). Zinc #SHFE aggregate OI continues to climb, last at 492k lots, back to levels not seen since the 21st Nov. #AlMunro

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Marex

@MarexGlobal

6 years

Plenty of geopolitical headlines, with #G7 fallout the greatest concern to our mkts. #Lead & #aluminium so far outperformed, with neither trading below Fri settle on back of decent onshore bid. Other #metals chopping around trading in v tight ranges #MattFrance #AsiaReport

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Marex

@MarexGlobal

3 years

#Copper rose above $10,000 a ton for a second time in the past decade today on optimism of firm demand, tight supply & lower-trending dollar. As the price moves higher investors are keeping a close eye on supply pipeline #AnnaStablum #AsiaReport #LME

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Marex

@MarexGlobal

5 years

This was #zinc ’s day as it extended outperformance. Flat price rallied to a fresh YTD high of $2840 & settled at $2838 (+3.7%). Solid turnover once again with 14.9k lots trading by 17:35, +67% on 20-day avg. #DeePerera #LondonClose #metals #commodities #data #base #trading

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Marex

@MarexGlobal

7 years

Hype or something far bigger? #Cryptocurrency press coverage... #CryptoCurrencies #Ethereum #blockchain #litecoin #cryptocurrencynews #Crypto #Bitcoin

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Marex

@MarexGlobal

5 years

It has been all about #Nickel overnight. About an hour after the open this morn flat price rallies to as high as $16,690, spanning an intraday range of $1355 (the widest seen since $1880 on the 19th Apr 2018). #LondonReport #AlMunro #LME #commodities #metals

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Marex

@MarexGlobal

4 years

Dr Copper up this morning, after rallying more than 6% last week (altho closed lower on Friday). This week industrial production, retail sales and quarterly GDP data is expected to show a robust economic recovery being underway in China. #AnnaStablum #AsiaReport #metals

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Marex

@MarexGlobal

2 years

“Money flow is what has driven metals in 2023 thus far, and that’s about a China reopening story.” Al Munro.

China’s comeback turbocharges base metal prices

Industrial commodities, led by tin, have surged more than 20 per cent in three months

www.ft.com

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Marex

@MarexGlobal

6 years

Another noticeable move in #metals inventories was today in #zinc which saw a 31.9kt or 23% fall in on-warrant stocks to 105.4kt, back to lows not seen since Mar (nb In mid-2017 the stocks reached a low of 70kt - a low not seen since 2007). #LME #DeePerera #LondonClose

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5

Marex

@MarexGlobal

5 years

Delighted to be the first to trade LME Alumina on LMEselect. #commodities #LME #alumina

London Metal Exchange (LME)

@LME_news

5 years

LME Alumina traded for the first time today on LMEselect. @MarexSpectron transacted the first client orders: a total of 30 lots exchanged hands on maturities November 2019 and January 2020 at $284/ MT and $294/MT respectively. For more about LME Alumina

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Marex

@MarexGlobal

6 years

#Zinc the outperformer so far this week, +1.4%. Reached a high of $2721 yday in the London am, before its decline to close marginally in the red. 1/3 of yday's volume however went through in the $10 between $2695-2705. Systematic type buying noted this am. #AlMunro #LondonReport

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Marex

@MarexGlobal

7 years

#COPPER hit $6689 today before settling at $6663 (-0.1%). $6670 is the 50% move of Tuesday’s selloff with the 10 and 100 day ma also coming in between $6675/85. A break above $6710 is now required to negate the downside & generate further upside #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

Our net spec ests across LME base #metals (23 Aug) #Copper net spec short climbed week-on-week to 23% of OI #Lead largest short although net spec retreated to 37% of OI #Nickel remains largely neutral #Tin net spec short fell to 18% of OI . #Zinc largely unchanged at 24% of OI

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Marex

@MarexGlobal

6 years

Only #Zinc has so far managed to beat the 20 day average in volumetric terms as a woeful morning session ends albeit on a positive note as bids emerge into the #SHFE close. #MattFrance #AsiaReport #metals

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Marex

@MarexGlobal

6 years

#Metals mkts moving into a new bull cycle & asset managers will have greater interest in the asset class, which have been ignored due to cheap cash & more attractive yields elsewhere. #GuyWolf @MarexSpectron #LMEWeekAsia #nickel #copper #aluminium #LME

Metals entering new longer, shallower bull cycle as inflation turns

Metals markets are moving into a new bull cycle that will be longer and shallower than the last, driven by rising inflation and dispersed demand growth, panelists said at the LME week Asia conference...

www.reuters.com

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Marex

@MarexGlobal

6 years

#Copper climbed to $6033 this morning soon after the LME stocks release, but gradually retreated to settle at $5991.5 (+1.2%). LME on-warrant inventory dipped 11,125t (-4.7%) to 223.2kt (nb YTD range in stocks is 152kt - 343kt). #DeePerera #LondonClose #metals

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Marex

@MarexGlobal

4 years

SAVANT, a geo-spatial analytics tool we run with @Earthi_ , shows a significant decline in July's global #copper smelting activities vs the robust recovery observed in recent months, material reduction in China #smelting & poor N American numbers.

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Marex

@MarexGlobal

5 years

#Nickel extends outperformance, breaking through 50% fibb retrace of 2018 high to 2019 low ($13,607.5) to reach high of $13,725 b4 settling at $13,650 (+3.0%). Onshore demand evident with SHFE agg OI last at 481k lots, up 10k lots since the morning #DeePerera #LondonClose

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Marex

@MarexGlobal

6 years

#Zinc remains base #metals laggard YTD, now down 27%. Next supp into $2375 area basis 23.6% fibb of Aug high to low & 21st Aug low. #Lead / zinc switch tightened to $339 yday, the tightest seen since $299 settle on 16 Jul. #AlMunro #LondonReport #metal

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Marex

@MarexGlobal

6 years

#Copper price rises to highs of last two sessions into $6310 . Next target is c. $6360 basis the 20-day ATR, then $6393.5 high from 4 Oct. SMM reported #China produced 716.8kt of copper cathode in Sept, down 2.8% m/m. #AlMunro #LondonReport

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Marex

@MarexGlobal

6 years

#Nickel rallied into close, settling +1.5%. Noted steady #CTA buying. Next resis is $15,235 high from 20 April, altho still some way off the YTD high of $16,690. #SHFE agg OI jumped during evening back to levels not seen since Nov 2017. #DeePerera #LondonClose #base #metals

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