June 2020

LIVE FUTURES REPORT 30/06: LME copper hits 6-month high on supply fears

The London Metal Exchange three-month copper price closed above $6,000 per tonne for the first time since January 23 on Tuesday June 30.

IRON ORE DAILY: 62% Fe fines index continues losing while others recover

Seaborne iron ore prices have fluctuated at current levels amid increasing Chinese manufacturing PMI, which is helping market sentiment to recover, sources said.

CHINA HRC: Importers snub cargoes from India amid higher freight rates

China’s domestic hot-rolled coil prices rebounded on Tuesday June 30, but importers still had little interest in shipments from India due to an increase in freight rates.

COKING COAL DAILY: Seaborne coking coal prices flat on inactive trading

Seaborne coking coal prices across the board stayed relatively flat on Tuesday June 30 due to a lack of trading, Fastmarkets heard.

CHINA REBAR: Price decline persists despite Tangshan output curbs

China’s domestic rebar prices fell further on Tuesday June 30 amid soft demand despite the country’s steelmaking hub of Tangshan announcing a new round of restrictions for July.

LIVE FUTURES REPORT 30/06: Chile production woes push LME copper above $6,000/t

The London Metal Exchange three-month copper price rose during morning trading on Tuesday June 30, surpassing resistance at $6,000 per tonne against a narrowing forward curve, while nickel futures maintained gains made on Monday.

MORNING VIEW: Broader markets firmer despite mixed economic data, Covid-19 concerns

Asian-Pacific equities and pre-market major western equity index futures were stronger this morning, Tuesday June 30, while base metals prices were for the most part firmer too - this despite Federal Reserve chairman Jerome Powell saying the US economy faces “extraordinary uncertainty”.

LIVE FUTURES REPORT 29/06: LME zinc price gains 1% in afternoon trading; nickel tops complex in 1.2% climb

Steady buying over the afternoon brought the three-month zinc price on the London Metal Exchange higher at the close of trading on Monday June 29, eradicating the metal’s morning price weakness, while nickel futures topped gains despite minimal volume traded on the day.

COKING COAL DAILY: Seaborne premium hard coking coal prices stable

Seaborne premium hard coking coal prices were largely stable on Monday June 29 due to a lack of trading, but most market participants expect hard coking coal prices to climb in line with the earlier increase in premium hard coking coal prices.

IRON ORE DAILY: 62% Fe fines index falls below $100/t for first time in three weeks

Seaborne iron ore prices fell on Monday June 29 due to a weak demand outlook, reflecting heavy rainfall in several parts of China and fresh pollution control restrictions imposed on mills in Tangshan for the month of July.