October 2020

LIVE FUTURES REPORT 28/10: LME nickel price declines amid spread tightness; lead surpasses $1,800/t after close

The three-month nickel price on the LME was weaker at the close of trading on Wednesday October 28, down by more than 1% against spread tightness and selling pressure, in addition to a steady rise in the US dollar index.

Pilbara Minerals to take control of Altura Mining’s lithium project

Spodumene producer Pilbara Minerals has entered a conditional deal to acquire Altura Mining’s lithium project in Western Australia, it said on Wednesday October 28.

IRON ORE DAILY: Low rebar inventories indirectly spark rise in seaborne iron ore prices

Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.

COKING COAL DAILY: China steel mills turn to Canada for high-quality coking coal

The seaborne premium hard coking coal price on the fob market remained relatively stable on Wednesday October 28, while steel mills in China turned to countries such as Canada to source premium hard coking coal, sources said.

LIVE FUTURES REPORT 28/10: LME nickel price hits fresh year high in 2.5% rally

The London Metal Exchange three-month nickel price made significant gains in the morning session on Wednesday October 28, rising 2.5% from the previous day’s close to hit an intraday high of $16,310 per tonne - a fresh year-to-date high.

CHINA ALUMINIUM INGOT ADC 12 SNAPSHOT: Export, domestic prices keep rising; tight scrap supply

Key data from the Wednesday October 28 pricing session in Shanghai.

MORNING VIEW: Base metals prices firm despite broader markets showing increased stress from Covid-19

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the main part firmer this morning, Wednesday October 28, this despite early weakness in major western equity index futures that were suffering because parts of Europe look set to escalate lockdown measures.

LIVE FUTURES REPORT 27/10: LME base metals trade sideways in lead-up to US election

Three-month base metals prices on the London Metal Exchange lacked a clear direction at the close of trading on Tuesday October 27, with a weaker US dollar and a slew of positive data from the region failing to outweigh the uncertainty about the country’s presidential election on November 3.

IRON ORE DAILY: Prices inch up on sentiment recovery in raw materials

Iron ore prices in the futures and seaborne markets rebounded on Tuesday October 27, with the increase in coke prices and drop in iron ore shipments supporting the sentiment recovery in the raw materials markets and helping iron ore prices to rise slightly, sources said.

COKING COAL DAILY: Premium mid-vol fob price up amid strong trade

The seaborne premium hard coking coal price in the fob Australia market rose on Tuesday October 27 amid strong trade on a trading platform, sources said.