Market participants were aloof following the London Metal Exchange's recent measures imposed to rein in the spike in copper spreads, but backwardations have eased, as the Exchange intended.
21 October 2021
Alice Mason, Ana de Liz
Seaborne coking coal cfr prices increased following a trade on Thursday, while despite a fall in the futures market, coking coal prices in the physical market stayed reasonably strong, sources said.
21 October 2021
Min Li
Spot trading for hot-rolled coil in China stagnated in the afternoon of Thursday October 21 after the continued tumble in futures prices kept market participants cautious.
21 October 2021
Zihuan Pan
The London Metal Exchange three-month copper price was trading below $10,000 per tonne during morning trading on Thursday October 21, while the backwardation in the metal’s cash/three-month spread had narrowed to below $300 per tonne.
21 October 2021
Julian Luk
China’s domestic rebar prices decreased on Thursday October 21 on weaker demand amid plunging futures.
21 October 2021
Jessica Zong
China’s domestic stainless steel prices were unchanged over the week ended Wednesday October 20, but market participants are expecting them to drop on increased supply.
21 October 2021
Jessica Zong
Lead’s three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.
20 October 2021
Ana de Liz
Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.
20 October 2021
Alex Theo
Seaborne coking coal prices remained relatively stable on Wednesday October 20 with no trading activity. In China, market participants were cautious after the National Development and Reform Commission (NDRC) held meetings on thermal coal price controls on Tuesday.
20 October 2021
Min Li
Trafigura has been drawing down stocks of copper from London Metal Exchange warehouses to deliver to customers, mainly in Asia and Europe, amid extremely tight market conditions, the company said.
20 October 2021
Andrea Hotter
