January 2020

CHINA REBAR: Fears over Wuhan virus cloud market

China’s rebar market remained quiet on Thursday January 23 with most participants already on holiday for the Chinese New Year, though the emergence of a mysterious respiratory virus in the country has resulted in a bearish outlook for prices after the break.

SHFE STOCKS REPORT 23/01: SHFE stocks rise while Coronavirus concerns pressure demand

Pre-Lunar New Year re-stocking abated in the week to Thursday January 23 with all Shanghai Futures Exchange base metals' deliverable stocks, bar lead, subject to increases while the growing Coronavirus outbreak pressures demand for material.

CHINA HRC: Holiday mood keeps market quiet

China’s hot-rolled coil market remained quiet on Thursday January 23 with most participants already on vacation for the Chinese New Year, though many of them are concerned about prices falling due to the outbreak of a mysterious respiratory virus in the country.

Chinese stainless steel prices steady amid quiet pre-Lunar New Year market

China’s stainless steel prices were flat over the past week amid thin trading ahead of the January 24-30 Lunar New Year holiday in the country.

LIVE FUTURES REPORT 23/01: SHFE base metals prices retreat as coronavirus concerns escalate

Base metals prices on the Shanghai Futures Exchange were all down at the close of morning trading on Thursday January 23, the final trading day before Lunar New Year holidays kick off in China.

LIVE FUTURES REPORT 22/01: High turnover, fresh inflows see LME copper lose ground; zinc down 2.3%

The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday January 22, settling at a six-week low against strong trading volumes, while a 2.3% decline in zinc saw it close below nearby support levels.

GLOBAL ZINC & LEAD WRAP: Lead arb window closes; US holds while Italy zinc premium up

The lead arbitrage window has shut after briefly opening in the week to January, while the LME three-month zinc spread remains backwardated, keeping spot trading minimal and premiums unchanged, except for in Italy, Fastmarkets was told.

FOCUS: LME stock inflows check copper price rally – but don’t mention the fundamentals

From coronavirus to spread plays, the copper market is seeing recent London Metal Exchange stock deliveries as driven by anything other than supply and demand.

COKING COAL DAILY: Seaborne market inches higher [CORRECTED]

The seaborne coking coal market moved up marginally, with premium low-vol coking coal fetching prices around $153-154 per tonne fob Australia, sources said on Wednesday January 22.

LIVE FUTURES REPORT 22/01: LME copper price capped by further 34kt fresh inflow

Any upward momentum in the London Metal Exchange three-month copper price was capped in the morning session on Wednesday January 22 by a significant 34,250 tonne fresh inflow of the red metal into LME-approved sheds as of 9am on the same day.