October 2021

CHINA HRC: Spot trading stagnates after futures tumble again

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.

LIVE FUTURES 21/10: Copper price retreats, cash/3-month spread near to $300/t backwardation

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.

CHINA REBAR: Futures drops to two-month low

China’s domestic rebar prices decreased on Thursday October 21 on weaker demand amid plunging futures.

China's domestic stainless steel supply rises

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.

LIVE FUTURES 20/11: New 2021 high for lead, nickel above $21,000 on LME

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.

IRON ORE DAILY: Easing coke prices prompts demand for iron ore fines, seaborne prices rangebound movements

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.

COKING COAL DAILY: Seaborne prices relatively stable; NDRC to tackle coal price surge

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.

Trafigura says its canceled copper destined for customers in Asia, Europe

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.

China's Yulin calls for coal prices to be cut, price ceiling imposed

The mayor of China's Yulin city, Shaanxi province, has urged local state-owned coal mines to lower thermal coal prices by 100 yuan ($16) per tonne and set price ceilings for long-term coal supply contracts.

CHINA HRC: Prices fall amid broad-based decline

Spot prices for hot-rolled coil in China fell on Wednesday October 20, after futures tumbled to a one-week low amid a broad-based decline led by coal-related products.