June 2020

LIVE FUTURES REPORT 23/06: LME zinc sinks 1.6% in high-vol trading; copper surpasses $5,900/t

The London Metal Exchange three-month zinc price declined during morning trading on Tuesday June 23 on poor United States home sales figures and US-China trade concerns, while continued stock drawdowns in copper pushed the metal’s price higher.

CHINA REBAR: Rain, heat weigh on domestic demand

China’s domestic rebar prices dropped slight on Tuesday June 23 due to persistent rain affecting demand in many parts of the country.

MORNING VIEW: Volatility increased across markets overnight with mixed signals over US-China trade

Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was “fully intact”.

LIVE FUTURES REPORT 22/06: LME copper price up 1.8%; zinc swings to contango

The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday June 22, topping the complex with a 1.8% uptick despite thin trading volumes, while zinc’s forward curve loosened over the afternoon.

IRON ORE DAILY: Seaborne prices down amid increase in arrivals at Chinese ports

Seaborne iron ore prices fell on Monday June 22 after an increase in cargo arrivals at Chinese ports last week, sources told Fastmarkets.

COKING COAL DAILY: Seaborne premium indices diverge

Fastmarkets' seaborne premium hard coking coal indices diverged on Monday June 22, with the fob Australia premium rising while other prices mostly edged down and market participants decided to take a wait-and-see approach.

CHINA HRC: Prices stable on low inventories

China’s hot-rolled coil prices were largely stable on Monday June 22 amid low inventories.

CHINA REBAR: High ex-works prices keep market supported

China’s domestic rebar market was flat on Monday June 22 despite falling futures, with mills’ high ex-works prices keeping it supported.

LIVE FUTURES REPORT 22/06: LME copper price upbeat in 1% climb; zinc spreads flip to backwardation

The three-month copper price on the London Metal Exchange was higher during morning trading on Monday June 22, while a steady rise in Covid-19 cases over the weekend prompted a slight downturn across the rest of the complex.

SHFE STOCKS REPORT 19/06: Lead inventory continues to rise; copper tumbles 14%

Lead stocks in Shanghai Futures Exchange-registered warehouses rose by the highest percentage among the base metals, gaining 16.6% or 3,279 tonnes to 22,995 tonnes in the week to Friday June 19.