July 2020

LIVE FUTURES REPORT 31/07: LME zinc price clears $2,300/t in 1.2% uptick; copper holds near $6,400/t

The three-month zinc price on the London Metal Exchange was the standout performer at the close of trading on Friday July 31, breaching nearby resistance in a continued incline over the day, while sideways trading in LME copper futures kept the metal’s outright price firmly near the $6,400 per tonne threshold.

SHFE STOCKS REPORT 31/07: Tin stocks surge by 12%; lead drops by 7%

Tin stocks in Shanghai Futures Exchange-registered warehouses increased the most in percentage terms across the base metals complex, rising by 12% or 352 tonnes to 3,283 tonnes in the week to Friday July 31.

CHINA HRC: Prices strong on persistent tight supply

China’s hot-rolled coil prices remained firm on Friday July 31 amid continuous supply shortages in the east of the country, sources told Fastmarkets.

LIVE FUTURES REPORT 31/07: Strong Asian buying boosts LME zinc price; tin spread narrows amid price spike

There was strong demand in London Metal Exchange zinc during the Asia trading hours on Friday July 31, causing the three-month price to rise by 1.3%, while an easing of LME tin’s forward curve prompted similar buying momentum over the morning.

MORNING VIEW: Metals rebound after brief dip on Thursday - China manufacturing PMI supports

Some hesitation in the base metals prices on Thursday was short-lived, with all the prices up this morning on Friday July 31 by an average of 0.5%, with stronger economic data out in Asia, earlier in the day, which boosted sentiment.

LIVE FUTURES REPORT 30/07: US GDP woes see LME base metals prices slide; copper spread tightens

Three-month base metals prices on the London Metal Exchange were collectively lower at the close of trading on Thursday July 30, with LME nickel’s 1.3% price dip leading the complex-wide decline, while a tightening of copper’s forward curve led to thin volumes and a negative close on the day.

COKING COAL DAILY: Seaborne prices little changed amid China import restriction worries

Seaborne prices were relatively flat across the board on Thursday July 30 due to thin trading in the spot market, with China’s import restrictions on seaborne materials continuing to be the biggest obstacle for most Chinese steel mills.

IRON ORE DAILY: Steady prices prompt active trading to continue

Iron ore prices were relatively stable on Thursday July 30, encouraging trading in both the seaborne market and at ports in China.

CHINA HRC: Prices strenghten amid tight supply

China’s hot-rolled coil prices strengthened on Thursday July 30 amid supply shortages, sources told Fastmarkets.

CHINA REBAR: Prices rise, but supply pressures remain

China’s domestic rebar prices increased on Thursday July 30 on stronger demand, though market participants tempered their expectations amid high production rates and inventory levels.