68
around US$ 1 839. Meanwhile, LME
licensed warehouses totalled 66 850
tonnes. Metallurgical soft lead fetched
US$ 2 112 – 2 155. Soft lead scrap was
valued at US$ 1 600 – 1 730.
NICKEL
Nickel prices on the LME have recently
hovered around US$ 12,525 – 12,530,
interestingly at roughly the same level
this time last year. Only in the course
of 2019 did quotations rise significantly
only to lose ground again. LME
stocks recently amounted to 224
700 tonnes. Alloyed scrap fetched US$
958 – 1 045 for V2A and US$ 1 470 – 1
665 for V4A.
ZINC
Initial data compiled by the ILZSG for
2019 shows that the global market for
refined zinc metal recorded a deficit of
189 000 tonnes. World zinc mine pro-
duction rose by 0.9%. Refined zinc
metal increased by 2.8% globally in
2019, primarily as a consequence of a
substantial rise in Chinese production
and increases in Mexico and Peru.
The metal was recently trading on the
LME around US$ 2 104 while stocks in
the LME warehouses were at 75 425
tonnes. Chinese market participants are
currently missing but trading activities in
Europe were nevertheless quite lively.
Prices for fine zinc were last around US$
2 320, while old zinc scrap fetched US$
1 775 – 1 840.
CONTRIBUTED BY
* Ralf Schmitz, German non-ferrous
trade association VDM (Europe)
* Robin Latchem
MARKET ANALYSIS
LME Non-Ferrous Prices & Stocks Reference date: February 26, 2020
/ Aluminium / Copper
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
/ Lead / Zinc
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
F M A M J J A S O N D J F
1870 1872 1811 1761 1773 1777 1713 1744 1809 1805 1799 1764 1705
1280 1221 1250 1200 1150 1100 910 910 948 1150 1425 1115 1115
1000
1500
2000
2500
3000
3500
1000
2000
3000
4000
5000
6000
F M A M J J A S O N D J F
F M A M J J A S O N D J F
6100 6368 6180 5780 5970 5925 5652 5792 5932 6000 6186 5965 5687
135 116 228 235 250 270 271 271 241 185 135 160 160
4000
5000
6000
7000
8000
9000
0
100
200
300
400
500
F M A M J J A S O N D J F
F M A M J J A S O N D J F
2050 2092 1894 1782 1913 2002 2038 2117 2132 2000 1912 1900 1846
115 76 74 76 78 82 70 70 70 68 66 67 67
0
500
1000
1500
2000
2500
0
70
140
210
280
350
F M A M J J A S O N D J F
F M A M J J A S O N D J F
2650 2700 2761 2680 2580 2472 2284 2313 2482 2440 2406 2354 2062
350 598 800 795 790 785 598 598 532 520 513 752 752
1000
1500
2000
2500
3000
3500
100
240
380
520
660
800
F M A M J J A S O N D J F
66-67-68_manon-ferrous.indd 68 05-03-20 12:32
