November 2021

Spotlight on Omicron Covid-19 variant sees copper, aluminium, nickel prices down on LME

Base metals price movements on the London Metal Exchange were mixed at the 5pm close of trading on Tuesday November 30, with copper down by more than $100 per tonne.

Seaborne coking coal prices largely down on market expectations

Seaborne coking coal prices largely decreased in both the cfr and fob markets on Tuesday November 30, with sources expecting lower prices in January next year; concerns over the Covid-19 Omicron variant supported the Mongolian coking coal price.

Iron ore prices ease slightly despite stable market sentiment

Seaborne iron ore prices eased slightly on Tuesday November 30 despite calmer market sentiment, sources told Fastmarkets.

LME base metal futures mixed amid Omicron variant concerns

Base metal futures on the London Metal Exchanged were mixed at the 9am open on Tuesday November 30 due to increasing concerns about the Covid-19 Omicron variant.

Chinese HRC prices edge up on positive manufacturing PMI

Spot prices for hot-rolled coil in China gained some upward momentum on Tuesday November 30, with sentiment improving after the release of data showing the country’s factory activity returning to expansion territory in November.

China's rebar prices stop dropping on positive housing data

China’s domestic rebar prices - having softened a day earlier - held steady on Tuesday November 30 after the country’s National Bureau of Statistics (NBS) released data showing higher activity in the housing market.

Metals volatile amid uncertainties over Omicron Covid-19 variant

Most base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were weaker during the morning of Tuesday November 30, with drugmaker Moderna warning that Covid-19 vaccines were unlikely to be that effective against the Omicron variant of Covid-19.

Nickel back above $20,000/t with slight pick ups for all LME prices

All London Metal Exchange futures prices were up at the end of trading on Monday November 29, with dip-buying present in the complex following a steep sell off across risk assets on Friday following the discovery of a new Covid-19 variant.

Seaborne premium hard coking coal fob price gains support from rainfall alarm

Seaborne coking coal prices largely decreased on Monday November 29, except for premium hard coking coal fob price, which got some support from La Nina in eastern Australia.

Iron ore prices rise amid jitters over Omicron variant

Seaborne iron ore prices rose on Monday November 29 amid earlier jitters over the new strain of the Covid-19 virus reported over the weekend emerging from South Africa, sources told Fastmarkets.