October 2021

SHFE STOCKS REPORT 15/10: Base metals stocks mixed; zinc up by 16%

Inventory changes of base metals in Shanghai Futures Exchange warehouses were mixed during the week to Friday October 15, with zinc gaining the most in percentage terms at 16% and copper declining by 20.1%.

MORNING VIEW: Metals prices have made a strong statement during LME Week

LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.

LIVE FUTURES 15/10: LME still bullish, with 92% of copper booked for removal, new 2021 high for aluminium

Copper's benchmark London Metal Exchange spreads moved into steep backwardations on the back of further stock removals on Friday October 15, with bullish sentiment extending across the base metals complex.

LIVE FUTURES 14/10: Prices up across board, copper reaches $10,000/t

Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply.

IRON ORE DAILY: Seaborne prices up on active spot trading, increased demand

Seaborne iron ore prices rose on Thursday October 14 amid active trading activity in the spot market and at Chinese ports because of a slight increase in buying interest, sources told Fastmarkets.

COKING COAL DAILY: Prices up in cfr market amid necessary restocking

Seaborne coking coal prices in the cfr China market increased on Thursday October 14 due to necessary restocking activities from Chinese steel mills; fob prices remained largely flat, market sources said.

CHINA HRC: Price decline stemmed by winter production cuts plan

Spot prices for hot-rolled coil in China narrowed on Thursday October 14, while futures prices edged higher on expectations that production curbs in north China could extend into early 2022.

SHFE zinc price surges to upper limit; copper up by 3.40%

Bullish sentiment on Thursday October 14, driven by Nyrstar’s announcement of production cuts, has pushed the zinc price on the Shanghai Futures Exchange to its highest level since 2019.

CHINA REBAR: Prices pick up on steady demand

China domestic rebar prices increased on Thursday October 14 on good and steady demand over the previous two days.

LIVE FUTURES 14/10: LME zinc price at highest since 2007; copper cash/3-month spread in backwardation

Supply concerns continue to support zinc's three-month price on the London Metal Exchange, which reached a peak of $3,837.50 per tonne on the morning on Thursday October 14, with most other base metal prices also starting the day higher.