June 2022

Three reasons behind China’s steel price rout

China’s domestic steel prices collapsed over the period Friday-Monday June 17-20 amid sparse demand, and with market participants believing that steel prices have yet to reach the market bottom.

Seaborne coking coal cfr prices fall on coke price cuts, bearish sentiment

Seaborne coking coal prices in the cfr China market dropped sharply on Monday June 20, following a slump in coking coal futures prices, prompted by the first round of coke price cuts since July 17, sources told Fastmarkets.

Chinese HRC prices fall for sixth day, tumbling to 1.5-year low

China’s domestic spot hot-rolled coil prices fell sharply to a one-and-a-half year low on Monday June 20, with ferrous futures tumbling across the board amid the prevailing pessimism, sources told Fastmarkets.

LME copper falls to 9-month low; base metals under pressure again

Base metals prices on the London Metal Exchange were mostly under pressure again during morning trading on Monday June 20, with copper falling to its lowest level since September 2021.

China’s domestic rebar price slump accelerates amid bearish sentiment

China’s domestic rebar prices dropped sharply on Monday June 20, following declines in steel billet and futures over the weekend.

SHFE to revise copper cathode contract specifications from December 21, 2022

The Shanghai Futures Exchange is to revise the grade and quality specifications of its copper cathode contract, to better reflect the latest developments in the domestic copper industry, the exchange said on Friday June 17.

Seaborne iron ore concentrate, pellet prices track downtrend in futures, swaps

Seaborne iron ore concentrate and pellets prices slid on Friday June 17 in response to sharp declines in average prices of forward month swap contracts amid thin trading activity, sources told Fastmarkets.

LME aluminium closes below $2,500/t; copper below $2,900/t

Aluminium and copper prices dipped to 2021 lows at the close of trading on the London Metal Exchange on Friday June 17, while other base metals also suffered losses, with the exception of nickel.

LME to implement proposed OTC position reporting following consultation

The London Metal Exchange has announced that following a consultation period with the market, the exchange will implement the proposals it set out in a consultation on May 13, regarding over the counter (OTC) position reporting and accountability levels.

Premium hard coking coal fob price firm

The premium hard coking coal price in the fob Australia market edged up on Friday June 17, while news of reduced production rates increased bearishness in China.