March 2021

LIVE FUTURES REPORT 04/03: LME selloff continues; copper down 2%, nickel down $1,200

Copper’s price dipped to $8,907.50 per tonne while nickel sank by 7.4% at the 5pm close of trading on the London Metal Exchange on Thursday March 4, with sell-offs and corrections seen for a second day.

IRON ORE DAILY: 65% Fe index hits historical high

Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao recorded a fresh high at $202.90 per tonne on Thursday March 4 after a trade on the Globalore trading platform.

COKING COAL DAILY: Weak buying interest continues to weigh on premium cfr price

Seaborne premium hard coking coal prices in the cfr market fell on Thursday March 4, with end users in China not interested in seaborne cargoes due to sufficient domestic supplies.

CHINA HRC: Export prices mixed on mills’ varied strategies

The different strategies of hot-rolled coil exporters in China emerged on Thursday March 4 amid retreating prices in the country’s domestic market, sources told Fastmarkets.

LIVE FUTURES REPORT 02/03: LME nickel down over 7%; copper below $9,000/t

The sell-off in the London Metal Exchange three-month nickel price continued on March 4, with the metal down to its lowest since November 2020 during early trading, with a higher US Dollar also dragging the rest of the complex down by an average of 2%.

CHINA REBAR: Prices retreat on reduced buying interest

China’s domestic rebar prices dropped slightly on Thursday March 4 amid buyer resistance toward sharp gains in the market a day earlier.

China’s stainless steel prices drop on declining nickel market

China’s stainless steel prices decreased in the past week amid a flagging nickel market.

BASE METALS WARRANT REPORT 03/03

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 3.

LIVE FUTURES REPORT 03/03: LME nickel price plunges $1,200/t on Nornickel mine restart news

Nickel’s futures price on the London Metal Exchange plummeted by over 6% at the 5pm close on Wednesday March 3 following the news that Norilsk Nickel expects to stabilize flooding issues at two of its mines next week.

Restart for Nornickel Cu, Ni mines under review; Ni price dips

Nornickel said it would review restarting two nickel and copper mines in the Polar Division on March 9, which were partially suspended on February 24 due to flooding, Fastmarkets understands.