June 2022

SHFE base metal stocks fall, barring copper

Deliverable stocks of all base metals in Shanghai Futures Exchange-registered warehouses fell in the week ended Friday June 24.

Weak steel market drives down seaborne coking coal, PCI prices

Seaborne coking coal prices were mostly down on Friday June 24, with weak demand for steel having a knock-on effect on steelmaking raw materials, sources said.

China’s rainy season dampens demand for domestic rebar

China’s domestic rebar prices decreased on Friday June 24 due to weak demand caused by adverse weather in the rainy season.

Chinese HRC prices fall, futures fluctuating at lows

China’s hot-rolled coil prices fell on Friday June 24, with futures prices for the flat steel product dipping following Thursday’s rally.

LME base metal futures decline further; tin collapse continues with 8% drop

Base metal futures on the London Metal Exchange remained under pressure at the 9am open on Friday June 24, due to a continuing broad-based sell-off amid growing macroeconomic uncertainty and hawkish sentiment from the United States Federal Reserve.

LME base metal futures remain under pressure, tin falls another 7%

Base metals futures prices on the London Metal Exchange came under further pressure at the 5pm close of trading on Thursday June 23 while the broad-based selloff continued across the complex.

Oliver Wyman to lead independent review into LME nickel market suspension

The London Metal Exchange has announced that management consultancy firm Oliver Wyman, and its sister company NERA UK, have been appointed to lead the independent review into the events that led to the suspension of the nickel market on March 8 this year.

Iron ore prices rebound on firmer import appetite, market outlook split

Seaborne prices for iron ore cargoes became firmer on Thursday June 23 in line with an upward movement in prices on futures and swaps, supported by firmer buying sentiment for cargoes with August laycans, sources told Fastmarkets.

China stainless steel prices continue to slide on persistent weak demand, LME nickel losses

China’s stainless steel prices, in both the domestic and export markets, continued to fall in the week to Wednesday June 22, due to weak demand and a drop in nickel prices on the London Metal Exchange.

Seaborne coking coal prices continue downtrend

Seaborne coking coal prices continued to decline across the board on Thursday June 23; the fob Australia market was relatively well-offered amid weak global steel prices, while the cfr China market was quiet amid the proposal of the second round of coke price cuts since June 17.