January 2020

LIVE FUTURES REPORT 31/01: LME lead recoups losses in 2.8% uptick; tin follows up

The London Metal Exchange three-month lead price was higher by close of trading on Friday January 31, regaining the bulk of losses made earlier in the week against moderately low turnover, while tin futures similarly made gains over the afternoon.

EUROPE STAINLESS STEEL: Prices stable despite higher surcharges; decreases by March - sources

The price of stainless steel in the European domestic market was unchanged this week, despite monthly allow surcharges increasing slightly for February, sources told Fastmarkets on Friday January 31.

IRON ORE DAILY: Market participants expect bearish outlook amid coronavirus outbreak [CORRECTED]

Seaborne iron ore prices were flat on Friday January 31 while the widespread coronavirus has cast a bearish outlook into the market.

Cochilco forecasts global copper deficit in 2020, price up to $2.85 per lb

The supply-demand dynamics in the global copper market were likely to turn into a deficit in 2020, helping to boost the average price to $2.85 per lb during the year, Chilean state copper commission Cochilco said on Thursday January 30.

COKING COAL DAILY: Supply, coronavirus woes set to shape market

Seaborne coking coal prices ended the week flat on a muted market due to the absence of participants in China, though concerns over a possible tightening of Australian and Chinese supply have emerged.

LIVE FUTURES REPORT 31/01: LME lead price tops complex up 1.1%; zinc holds below $2,200/t

The three-month lead price on the London Metal Exchange was higher during morning trading on Friday January 31, climbing by more than 1% to show signs of improvement after slipping through key support levels over January, while zinc futures failed to push above nearby resistance.

LIVE FUTURES REPORT 30/01: LME zinc price tumbles to 3.5-year low; copper sinks below $5,600

The three-month zinc price on the London Metal Exchange closed at its lowest level in more than three years at the close of trading on Thursday January 30, settling below the nearby $2,200 per tonne support level, while the price of copper futures continued to decline over the afternoon.

COKING COAL DAILY: Moranbah North coal mine's roof falls; spot market steady

Seaborne coking coal prices were unchanged on Thursday January 30, despite Australian miner Anglo American confirming a 'geotechnical issue at Moranbah North [mine in Queensland, Australia] during development works, which resulted in a roof fall incident.'

IRON ORE DAILY: Buyers will honor long-term contracts amid talks of downstream cuts

Seaborne iron ore prices were down on Thursday January 30 while market participants further lowered estimates of physical transaction prices amid talk of steel production cuts in China and resulting concerns over the impact on mills’ raw material procurement.

LIVE FUTURES REPORT 30/01: LME nickel price decline stalled by 11kt fresh cancelation; copper breaks below $5,600/t

The three-month nickel price on the London Metal Exchange was marginally higher during morning trading on Thursday January 30, supported by a fresh cancelation of 11,874 tonnes, while copper’s downturn continued.