October 2021

LIVE FUTURES 15/10: LME copper spreads backwardated until 2024, zinc up 22% from Monday

The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board.

COKING COAL DAILY: PCI prices up in cfr, fob market amid supply tightness

Seaborne coking coal prices stayed largely stable in the cfr China market but decreased in the fob market on Friday October 15, amid weak offers and bids.

Zinc tops $3,700 with high energy prices to curtail European production further

The three-month zinc price on the London Metal Exchange reached a 14-year high of $3,750 per tonne on Friday October 15, with prices and premiums spiking amid concerns over supply in Europe and the United States.

IRON ORE DAILY: Seaborne prices ease amid fizzling demand at Chinese ports

Seaborne iron ore prices fell on Friday October 15 amid lower traded volumes at Chinese ports, sources told Fastmarkets.

CHINA HRC: Production curbs keep prices supported

Domestic hot-rolled coil prices in China cruised higher on Friday October 15, with the futures market extending its gains on production curbs in the country showing no signs of easing.

CHINA REBAR: Eastern prices stop rising on destocking need

Eastern China rebar prices lost upward momentum on Friday October 15 due to sellers’ need to reduce inventories.

SHFE STOCKS REPORT 15/10: Base metals stocks mixed; zinc up by 16%

Inventory changes of base metals in Shanghai Futures Exchange warehouses were mixed during the week to Friday October 15, with zinc gaining the most in percentage terms at 16% and copper declining by 20.1%.

MORNING VIEW: Metals prices have made a strong statement during LME Week

LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.

LIVE FUTURES 15/10: LME still bullish, with 92% of copper booked for removal, new 2021 high for aluminium

Copper's benchmark London Metal Exchange spreads moved into steep backwardations on the back of further stock removals on Friday October 15, with bullish sentiment extending across the base metals complex.

LIVE FUTURES 14/10: Prices up across board, copper reaches $10,000/t

Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply.