February 2021

Shanghai bonded aluminium stocks more than double in February; copper slips

Aluminium stock volumes in Shanghai bonded warehouses more than doubled in February 2021 on increased import activity due to a favorable arbitrage between London and Shanghai.

LIVE FUTURES REPORT 26/02: Zinc down 5%, tin falls $1,000 in month-end consolidation

All futures prices on the London Metal Exchange showed decreases of more than 3% at the close of trading on Friday February 26, with a mix of consolidation and profit-taking on the base-metals complex just a few days after they all rallied to new year-to-date highs.

COKING COAL DAILY: Seaborne coking coal prices weak with limited buying interest

Seaborne premium hard coking coal prices in both the fob and cfr markets edged down on Friday February 26 with most market participants, especially trading houses, taking a wait-and-see attitude.

LIVE FUTURES REPORT 25/02: Tin down 3%, copper drops 2%, LME complex falls on higher US Dollar Index [UPDATED]

London Metal Exchange metals prices were all lower on Friday February 26, following a spike in US 10-year Treasury bonds and a higher US Dollar Index.

IRON ORE DAILY: Low-grade iron ore attracts buyers amid falling coke prices

Iron ore prices increased on Friday February 26, with low-grade iron ore fines rising fast due to lower coke prices, sources said.

SHFE STOCKS REPORT 26/02: Base metals inventories all rise; Cu climbs 31%

Deliverable base metals stocks at Shanghai Futures Exchange-registered warehouses all rose in the week to Friday February 26, with copper recording the largest gain in percentage terms at 31.2%, according to the exchange’s latest stocks report.

LIVE FUTURES REPORT 25/02: LME aluminium up 2%, copper at $9,400, nickel down to $19,200

The price of aluminium showed a 2.3% rise and held close to its new 2021 high of $2,243 per tonne during trading on the London Metal Exchange on Thursday February 25.

Copper spread tightness balloons, price continues to surge

The backwardation in copper’s benchmark cash-to-three-month spread reached a near two-year high of $51.50 per tonne, with the bullish rally on the red metal showing no signs of relenting.

COKING COAL DAILY: Seaborne premium fob price tumbles

The seaborne premium low-volatility hard coking coal fob price slumped dramatically on Thursday February 25, with the latest transaction sealed at $126 per tonne fob Australia.

IRON ORE DAILY: Prices rise on positive expectations of growth in demand for steel

Iron ore prices mostly increased on Thursday February 25, supported by healthy mill margins and expectations of a steady rise in demand for steel, sources told Fastmarkets.