August 2020

MORNING VIEW: Markets consolidate now that more of them have regained their coronavirus losses

Markets were for the most part upbeat this morning, Friday August 21, with all of the base metals on the London Metal Exchange firmer, as were most Asian-Pacific equities, although they are firmer within consolidation patterns.

NEWSBREAK: China's Tisco changing hands

Taiyuan Iron & Steel (Tisco), China’s second-largest stainless steel producer, suspended the trading of its stock on the Shenzhen Stock Exchange on Friday August 21 following an announcement on Thursday evening that there will be a change in its controlling shareholder.

LIVE FUTURES REPORT 20/08: LME copper price holds above $6,600; zinc slips below $2,500

The three-month price of copper on the London Metal Exchange was the underperformer at the close of trading on Thursday August 20, with the price holding above nearby support despite losing more than 1.2% over the day.

COKING COAL DAILY: Premium hard coking coal fob index up on bullish sentiment

The seaborne premium hard coking coal fob index edged up on Thursday August 20 due to the bullish market sentiment from India, while Chinese participants, however, still feel trapped by a lack of coking coal import quotas, Fastmarkets heard.

IRON ORE DAILY: Seaborne prices stable, port sales reflect steady demand

Seaborne iron ore prices were largely stable on Thursday August 20 in a much calmer market than the previous three days of trading, sources told Fastmarkets.

CHINA HRC: Mill secures order from South America at higher price

China’s domestic hot-rolled coil prices weakened on Thursday August 20, but a mill was reported to have secured an order from South America at a price above prevailing levels.

LIVE FUTURES REPORT 20/08: LME copper price wipes out gains in 1.7% downturn; fresh cancellation supports nickel

The LME three-month copper price was the biggest faller in morning trading on Thursday August 20, dropping by 1.7% against a slight uptick in the US dollar index, while a fresh cancellation supported the nickel price.

CHINA REBAR: Domestic prices fall again amid supply pressures

China’s domestic rebar prices continued to drop on Thursday August 20 amid falling futures and the release of data showing high steelmaking rates.

MORNING VIEW: LME base metals prices, Asian-Pacific equities mainly lower this morning

Three-month base metals prices on the London Metal Exchange were mostly weaker this morning, Thursday August 20, as were Asian-Pacific and pre-market major western equity index futures.

China’s domestic stainless steel prices hit six-month high

China’s domestic stainless steel prices rose for an eighth week reach their highest since February 19, while export prices too have risen to levels not seen since late last year.