July 2021

LIVE FUTURES: Aluminium rises 5.3% in July to new year-to-date peak, tin at new all-time high

Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.

Yunnan Shenhuo to lose 50,000t of aluminium output due to power cuts

Chinese aluminium producer Yunnan Shenhuo will cut its output by 50,000 tonnes because of the latest round of power restrictions announced by local power supplier Yunnan Power Grid on July 27.

COKING COAL DAILY: China’s cfr market strong with active buying

Seaborne coking coal prices increased in the cfr market on Friday July 30 with more buying interest and fewer tradable resources, sources told Fastmarkets. The fob market was broadly stable on the last workday of the week.

IRON ORE DAILY: Prices nosedive amid bearish sentiment

Iron ore prices drop drastically on Friday July 30 with market sentiment depressed by worsening demand.

SHFE STOCKS REPORT 30/07: Most base metals inventories down bar lead, nickel

Most base metals registered declines in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday July 30, although lead was up by 6.5% and nickel rose by 1.5%.

CHINA HRC: Domestic prices rise after removal of more steel export rebates

China’s domestic hot-rolled coil prices rose on Friday July 30, while export prices held stable after tax authorities announced the cancellation of more steel export rebates.

CHINA REBAR: Prices rise, new Nanjing Covid-19 cases cause demand drop

The new infection cases in Eastern China’s Nanjing city made some construction sites in a few districts slowing work, but didn’t cause major influence in a large range and the rebar prices kept the upward trend on Friday July 30.

LIVE FUTURES 30/07: New 2021 high for LME aluminium; zinc above $3,000/t

The three-month aluminium contract on the London Metal Exchange hit a new year-to-date high of $2,615 per tonne in morning trading on Friday July 30, while zinc moved back above the $3,000-per-tonne psychological level.

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.