NexusFi: Find Your Edge


Home Menu

 





Metals


Discussion in Commodities

Updated
      Top Posters
    1. looks_one Sagal with 47 posts (28 thanks)
    2. looks_two SMCJB with 32 posts (54 thanks)
    3. looks_3 myrrdin with 22 posts (17 thanks)
    4. looks_4 Schnook with 8 posts (17 thanks)
      Best Posters
    1. looks_one Schnook with 2.1 thanks per post
    2. looks_two SMCJB with 1.7 thanks per post
    3. looks_3 myrrdin with 0.8 thanks per post
    4. looks_4 Sagal with 0.6 thanks per post
    1. trending_up 32,542 views
    2. thumb_up 131 thanks given
    3. group 31 followers
    1. forum 137 posts
    2. attach_file 29 attachments




 
Search this Thread

Metals

  #131 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,206

Reuters: U.S. metals buyers pay the price of broken supply chains

https://www.reuters.com/article/idUSKBN2EX229

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
REcommedations for programming help
Sierra Chart
ZombieSqueeze
Platforms and Indicators
Better Renko Gaps
The Elite Circle
MC PL editor upgrade
MultiCharts
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Spoo-nalysis ES e-mini futures S&P 500
29 thanks
Just another trading journal: PA, Wyckoff & Trends
25 thanks
Tao te Trade: way of the WLD
24 thanks
Bigger Wins or Fewer Losses?
22 thanks
GFIs1 1 DAX trade per day journal
17 thanks
  #132 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,206

Reuters: Europe's power crunch sparks aluminium smelter meltdown: Andy Home

https://www.reuters.com/markets/commodities/europes-power-crunch-sparks-aluminium-smelter-meltdown-andy-home-2022-01-06/

European aluminium consumers are already paying the price. Physical premiums have surged, the CME's duty-paid spot contract jumping from $290 per tonne at the start of December to a current $423.

Reply With Quote
Thanked by:
  #133 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,206


Reuters :- LME nickel trading halted as big short hits big trouble

https://www.reuters.com/business/energy/lme-nickel-trading-halted-big-short-hits-big-trouble-andy-home-2022-03-08/

LME three-month nickel , the primary pricing reference for the global physical supply chain, hit $101,365 a tonne early on Tuesday, up from just $30,000 on Friday.

The contract was suspended at $80,000 as the exchange stepped in to halt trading at 0815 GMT. All Tuesday's trades up until then will be cancelled until further notice, the LME said.


Reuters :- China's Tsingshan fires nickel rally as it cuts costly exposure-sources

https://www.reuters.com/business/chinas-tsingshan-fires-nickel-rally-it-cuts-costly-exposure-sources-2022-03-08/

Reply With Quote
Thanked by:
  #134 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,206

I think what's happening with the LME and Nickel should concern people. They are basically changing market rules & adjusting trades on the fly to protect one counterparty.

Conspiracy Theory Anyone? ... It just happens that the LME is now owned by the Hong Kong Exchange, which is now a Chinese territory, and maybe not surprisingly the counterparty they are protecting is the largest Nickel producer in China!

Reuters :- Nickel, the devil's metal with a history of bad behaviour

https://www.reuters.com/markets/commodities/nickel-devils-metal-with-history-bad-behaviour-2022-03-10/

Reply With Quote
Thanked by:
  #135 (permalink)
 
vmodus's Avatar
 vmodus 
Somewhere, Delaware, USA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Barchart.com
Trading: Everything, it all tastes like chicken
Posts: 1,271 since Feb 2017
Thanks Given: 2,958
Thanks Received: 2,853

The drama continues in nickel:

Reuters: Nickel market in disarray after chaotic London return

https://www.reuters.com/world/china/caution-reigns-nickel-trading-resumes-london-2022-03-16/

I would have zero confidence trading on the LME, especially after they protect bad actors at their discretion. Incredible, but not unbelievable.

~vmodus

Enjoy everything!
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #136 (permalink)
 
Schnook's Avatar
 Schnook 
Munich, Germany
 
Experience: Advanced
Platform: Sierra Chart
Broker: Interactive Brokers
Trading: liquid products
Posts: 570 since Jul 2016
Thanks Given: 1,166
Thanks Received: 1,917

In my opinion, the issue with nickel is that the contract is poorly designed with regards to eligible deliverability criteria. As a physical settlement contract the current deliverability criteria choke off most of the liquidity around rolls and expirations. I wonder if simply allowing for a cash settlement option would alleviate the issue. Either way, until its resolved, you'd have to be a special kind of stupid to trade nickel on the LME right now.

Reply With Quote
Thanked by:
  #137 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,206

Launching May 2*, Micro Copper futures (Globex code: MHG) will offer a new, cost-effective way to access the Copper futures market.

Micro Copper futures are conveniently sized and tailored to the individual trader at 1/10 of the full-size Copper contract.

https://www.cmegroup.com/education/courses/understanding-micro-futures-contracts-at-cme-group/micro-gold-and-silver-futures/micro-copper-futures-product-overview.html

https://www.cmegroup.com/media-room/press-releases/2022/4/05/cme_group_to_launchmicrocopperfuturesonmay2.html

Reply With Quote
Thanked by:
  #138 (permalink)
 
vmodus's Avatar
 vmodus 
Somewhere, Delaware, USA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Barchart.com
Trading: Everything, it all tastes like chicken
Posts: 1,271 since Feb 2017
Thanks Given: 2,958
Thanks Received: 2,853


SMCJB View Post
Launching May 2*, Micro Copper futures (Globex code: MHG) will offer a new, cost-effective way to access the Copper futures market.

Micro Copper futures are conveniently sized and tailored to the individual trader at 1/10 of the full-size Copper contract.

https://www.cmegroup.com/education/courses/understanding-micro-futures-contracts-at-cme-group/micro-gold-and-silver-futures/micro-copper-futures-product-overview.html

https://www.cmegroup.com/media-room/press-releases/2022/4/05/cme_group_to_launchmicrocopperfuturesonmay2.html

I have mixed feeling about this one. On one hand, this offers the copper product to a lot more traders. It provides the ability for traders to test the waters in a market they may not consider regardless of approach (discretionary, systematic). It also allows diversification for those with smaller accounts.

On the other hand, I feel these micros are a money grab for the CME, especially given the transaction fees compared to the minis. I think they are targeting speculators rather than hedgers or those taking physical delivery.

My uneasiness aside, though I cannot trade copper, this is an interesting product that I would trade if I could, as I have a couple copper systems that perform well.

~vmodus

Enjoy everything!
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on April 5, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts