June 2020

SHFE aluminium uptrend persists; new projects, imported material pressure market

The Shanghai Futures Exchange aluminium price uptrend will last at least until the end of June on recently strong downstream demand but new aluminium projects as well imported material may cap that, several aluminium market experts said to Fastmarkets on June 16.

IRON ORE DAILY: Seaborne prices buckle amid lack of clarity on demand outlook

Seaborne iron ore prices weakened on Wednesday June 17 amid concerns over the demand outlook for steel products.

CHINA REBAR: Growing concerns over Beijing Covid-19 outbreak chip off prices

China’s domestic rebar prices dropped slightly on Wednesday June 17 amid concerns over whether the construction sector would come under restrictions due to a fresh Covid-19 outbreak in Beijing.

LIVE FUTURES REPORT 17/06: LME nickel price holds above $13,000/t; zinc up 1.6%

The London Metal Exchange three-month nickel price held just above $13,000 per tonne during morning trading on Wednesday May 17, having rallied by 2.2% at the previous day’s close and shrugged off a marginal 180-tonne inflow of stock into Kaohsiung, Taiwan.

MORNING VIEW: Markets pause to evaluate impact of Covid-19 secondary waves

Markets were mixed this morning, Wednesday June 17, while bullish sentiment continues to be fueled by government liquidity and stimulus but Covid-19 concerns and economic reality remain headwinds.

GLOBAL COPPER WRAP: China premiums halt decline; European, US terms unchanged

A narrowing loss in the London Metal Exchange-Shanghai Futures Exchange import arbitrage has helped improve Shanghai ER copper premiums in China, whereas sluggish demand kept premiums in Europe and the United States unchanged.

LIVE FUTURES REPORT 16/06: US Fed drives risk-on bull rally across LME base metals

The unveiling of the US Federal Reserve's corporate bond purchase program late in the European trading day on Monday June 15 revived investor confidence in commodities on Tuesday, boosting LME three-month base metals prices.

COKING COAL DAILY: Seaborne prices flat on inactive trading

Seaborne prices were generally flat on Tuesday June 16 after no transactions were heard, with market participants trying to figure out how China’s import restrictions and ex-China demands will affect the market.

IRON ORE DAILY: Seaborne prices rebound amid weekly decrease in shipments

Seaborne iron ore prices went up on Tuesday June 16 following a rise in the futures market due to a weekly decrease in shipments from Australia and Brazil, sources told Fastmarkets.

CHINA REBAR: Prices flat amid adverse weather, but futures rise

China’s domestic and export prices for rebar were flat on Tuesday June 16 amid low trading activity as a result of bad weather, with rising futures keeping the market supported.