July 2021

LIVE FUTURES 29/07: Aluminium at two-month high, all LME prices strengthen before month-end

The London Metal Exchange’s base metals prices were robust at the close of trading on Thursday July 29, supported in part by a US Dollar Index that reached its lowest since June 29 and fundamental factors affecting the metals themselves.

Henan’s impaired railway restricts aluminium delivery

Aluminium delivery from northern China through central China remains restricted due to flooding in Hennan, with a section of the Longhai Line railway under repair, sources told Fastmarkets.

IRON ORE DAILY: Seaborne prices slump amid thin liquidity, soft sentiment

Iron ore prices fell on Thursday July 29 amid thin liquidity and soft market sentiments, sources said.

CHINA REBAR: NDRC’s new power pricing policy to influence rebar output

China’s domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.

COKING COAL DAILY: Prices strong amid continuous supply tightness

Seaborne coking coal prices inched up in both the cfr and fob markets on Thursday July 29 amid supply tightness and firm buying interest, sources said.

CHINA HRC: Domestic prices rise on positive industry data; export market remains quiet

Prices of hot-rolled coil across China’s domestic market followed futures prices higher on Thursday July 29, while the export market remained muted amid persistent fears of changes in the export tax policy, sources told Fastmarkets.

LIVE FUTURES 29/07: Gains of 1% and over for LME copper, nickel, tin

Base metals prices on the London Metal Exchange were up across the board during morning trading on Thursday July 29 given a range of price-supportive events, with nickel the standout performer with an increase of 1.4% from its closing price on Wednesday.

Bigger discounts emerge in second round of China's copper auction

Chinese copper fabricators bought copper cathode at bigger discounts against exchange prices during a second batch of sales by China's state reserves administration on Thursday July 29.

Blowout in Chicago/London arbitrage has copper market looking to US

An arbitrage between two of the world’s main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.

LIVE FUTURES 28/07: Base metals prices mixed approaching month-end, aluminium up 1.9%

Base metals prices remained mixed on the London Metal Exchange at the 5pm close of trading on Wednesday July 28, with the month-end approaching and the market still waiting for signals of fresh direction from the US Federal Reserve bank.