August 2021

CHINA HRC: Domestic prices drop, Beijing’s mixed messaging casts doubt on H2 steel cut plans

Prices of hot-rolled coil across China’s domestic market fell sharply on Monday August 2, while futures prices tumbled after Beijing’s latest comments on carbon emissions reductions sent confusion across the markets, sources told Fastmarkets.

COKING COAL DAILY: China’s domestic market strong on tight supply

China’s domestic coking coal market maintained its upward trend in the week to August 2 amid continuous supply tightness. Seaborne coking coal prices remained largely stable in both the cfr China and fob Australia markets on Monday August 2 due to quiet trading, sources told Fastmarkets.

CHINA REBAR: Prices drop on possible changes to production restrictions

China’s domestic rebar prices fell sharply on Monday August 2 due to market expectations of lighter production restrictions in some regions, sources told Fastmarkets.

MORNING VIEW: Base metals prices firm on LME but mixed on SHFE; outlook brighter

Base metals prices on the London Metal Exchange were generally trending higher this morning, Monday August 2, with copper the metal that seems to be struggling the most. Base metals trading on the Shanghai Futures Exchange gave a mixed performance, however.

LIVE FUTURES 02/08: Small gains for LME prices; Al above $2,600/t, zinc holds $3,000/t level

There were higher prices across the base metals complex during morning trading on the London Metal Exchange on Monday August 2, but bullish sentiment was capped by lower-than-expected Chinese economic data.