January 2022

Nickel closes above $24,000/t in week marked by milestones for most LME prices

London Metal Exchange base metals prices finished the week to Friday January 21 in a positive tone, with most having overcome important psychological levels one week before the Chinese New Year holiday begins.

Chamberlain moves on after a near-decade in the LME trenches: Hotter on metals

Nobody ever wants to be the chief executive officer that goes down in history as permanently closing the London Metal Exchange open outcry floor. That undesirable title, should the situation arise, will now not go to its current head, Matthew Chamberlain.

Premium hard coking coal cargo sealed at historic high in fob Australia market

Seaborne coking coal fob prices continued higher on Friday January 21 on a deal sealed at a historic high of $445 per tonne fob Australia, while the seaborne low-volatility pulverized coal injection (low-vol PCI) fob price also jumped week on week in line with the coking coal fob Australia segment.

Iron ore prices up despite less restocking activity at China’s ports

Seaborne iron ore prices continued to increase on Friday January 21 amid a bullish outlook for demand after the Lunar New Year holiday, while most mills have finished restocking iron ore at China’s ports, market sources said.

LME aluminium, nickel prices under pressure following strong gains

Base metal futures on the London Metal Exchange were largely down at the 9am open on Friday January 21, following two days of strong gains in which nickel and tin reached fresh high levels, with the latter reaching an all-time high.

SHFE zinc, copper stocks rise; nickel inventories continue to decline

Changes in deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses were mixed during the week to Friday January 21.

Chamberlain steps down as LME CEO

Matthew Chamberlain, chief executive officer of the London Metal Exchange, will step down on April 30 to “pursue career interests outside the group”, Hong Kong Exchanges and Clearing Ltd (HKEX) announced on Friday January 21.

China's domestic HRC prices flat amid weaker demand, steady futures

Spot prices for hot-rolled coil in China’s domestic market remained flat on Friday January 21 amid soft demand and mild gains for futures.

China domestic rebar prices continue mild rise

China’s domestic rebar prices kept moving up slightly on Friday January 21 after billet gains late on Thursday.

Base metals on back foot after Thursday gains

Base metals prices on the London Metal Exchange were down across the board on the morning of Friday January 21, but this was after impressive across-the-board gains averaging 4% a day earlier.