October 2021

SHFE STOCKS REPORT 22/10: Stocks mixed; aluminium up by 8.3%

Changes to deliverable stocks of base metals in Shanghai Futures Exchange warehouses were mixed during the week to Friday October 22, with aluminium increasing the most in percentage terms and tin leading the declines.

COKING COAL DAILY: PCI prices up on tight supply; NDRC meeting depresses futures again

Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.

IRON ORE DAILY: Prices up despite weak demand outlook

Seaborne iron ore prices corrected upward on Friday October 22 after a sharp decrease on Thursday amid continuous bearish outlook for iron ore demand.

CHINA HRC: Prices drop following previous day’s sharp futures losses

Spot prices for hot-rolled coil in China fell sharply on Friday October 22 following the tumble in futures prices on Thursday triggered by Beijing’s moves to rein in soaring coal prices.

CHINA REBAR: Demand rises following cut in prices

China’s domestic rebar prices fell sharply on Friday October 22 following a drop in the futures market, but the lower prices stimulated an increase in buying interest.

LIVE FUTURES 22/10: LME Al price continues to fall; others try to recoup Thursday's losses

Base metals prices on the London Metal Exchange mostly rebounded during morning trading on Friday October 22, with aluminium the lone metal in negative territory.

MORNING VIEW: Base metals prices mixed following Thursday’s sharp pullbacks

Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down – this follows significant losses on the LME on Thursday.

Backwardated forward spreads on LME spur P1020 sell-off in Europe

Looming backwardations on London Metal Exchange spreads sparked a sell-off of P1020 aluminium in Europe on Thursday October 21, with participants concerned about carrying metal into 2022.

LIVE FUTURES 21/10: Aluminium prices down 5% on LME, nickel C/3M in $88 backwardation

Base metal prices on the London Metal Exchange were down across the board at the 5pm close of trading on Thursday October 21, with market participants beginning to sell off material following the recent price rally.

IRON ORE DAILY: Prices down amid drop in steel prices

Iron ore prices were largely down on Thursday October 21, following the bearish mood in terms of steel prices and demand, sources said.