June 2020

IRON ORE DAILY: Seaborne prices up amid active trading before Chinese holidays

Seaborne iron ore prices rebounded on Wednesday June 24 amid active trading ahead of the Chinese Dragon Boat Festival holidays from June 25-27.

China’s stainless CRC prices slide on destocking pressure

Domestic and export prices for Chinese stainless cold-rolled coil decreased slightly over the past week, with sellers maintaining their efforts to draw down their stock levels.

CHINA HRC: Import concerns emerge after China-India border clash

China’s hot-rolled coil prices weakened in the domestic market on Wednesday June 24 ahead of the three-day Dragon Boat Festival holiday from June 25-27, while importers started to worry about the delivery of goods from India after the border clash between the two countries last week.

CHINA REBAR: Prices flat, but market sentiment still bearish

Cost pressures kept China’s domestic rebar prices from falling further on Wednesday June 24 despite a pessimistic outlook for demand in the next two months amid high production rates.

SHFE STOCKS REPORT 24/06: Tin falls 10.1%; Ni gains 2.2%

Tin stocks in Shanghai Futures Exchange-registered warehouses declined the most among the base metals, down 10.1% or 349 tonnes to 3,106 tonnes in the week ended on Wednesday June 24 before China’s Dragon Boat holiday starts on June 25-27.

LIVE FUTURES REPORT 24/06: Macro-sensitive LME base metals prices capped in lackluster trading

Three-month base metals prices traded on the London Metal Exchange were broadly range-bound during the morning session on Wednesday June 24, with the macro-sensitive complex unsure which direction to follow.

MORNING VIEW: Metals holding up well; continuing spread of Covid-19 in some regions could threaten supply

Broader markets were consolidating this morning, Wednesday June 24, underpinned by better economic data, but conversely held back by concerns about how the spread of the Covid-19 is accelerating in some regions; the spread in some mining countries is now a potential threat to supply.

LIVE FUTURES REPORT 23/06: LME copper holds slim gains on macro optimism, fresh outflows

The LME three-month copper price maintained slim gains made during the day, closing up 0.4% on Tuesday June 23, with high turnover buoyed by US financial stimulus optimism, while stock outflows added further price support.

COKING COAL DAILY: Seaborne premiums up with market sources changing estimates

Seaborne premium hard coking coal prices went up on Tuesday June 23 after most market participants increased their estimates in the segment in accordance with recent transactions, Fastmarkets heard.

CHINA HRC: Mills raise export offers despite thin trading

China’s hot-rolled coil prices weakened on Tuesday June 23 amid falling futures, while mills raised their export offers despite overseas buyers showing little interest in Chinese products.