May 2022

LME base metals prices mostly down at close of trading

Base metals prices on the London Metal Exchange were mostly down at the 5pm close of trading on Tuesday May 31.

Premium hard coking coal fob prices continue to slide

The price of seaborne premium hard coking coal from Australia continued to fall on Tuesday May 31, while the Chinese domestic coke market was relatively stable, with sentiment partly supported by the impending removal of Covid-19 restrictions in Shanghai.

Iron ore prices up amid optimism over Shanghai reopening

Seaborne iron ore prices increased on Tuesday May 31 amid the celebrated reopening of Shanghai and further easing of restrictions in Beijing, with futures prices also increasing, sources told Fastmarkets.

Chinese HRC spot prices widen upward after futures rise for 3rd day

Spot prices for hot-rolled coil in China’s domestic market widened upward on Tuesday May 31, after futures for the flat steel product rose for a third straight trading day. This comes amid improved demand outlook following the easing of Shanghai lockdowns and the introduction of a series of stimulus measures.

China domestic rebar prices edge up on stronger demand, potential end to Covid-19 restrictions in Shanghai

Chinese domestic rebar prices moved up slightly on Tuesday May 31 because of rising demand stimulated by futures gains, after plans to end Shanghai Covid-19 lockdown announced.

Chinese ferrous market participants cautiously optimistic as Shanghai emerges from lockdown

Market participants in the Chinese steel industry are cautiously hopeful in their outlook for iron ore and steel demand in the second half of the year, as Shanghai announces significant rollbacks in existing pandemic-related restrictions over its 25 million residents.

LME base metals little changed during morning trading

Base metals prices on the London Metal Exchange were mixed but little changed at 9am on Tuesday May 31, except for nickel, which was down by 2.6%.

LME base metal prices higher on low volumes, nickel rises 3.5%

Base metals prices on the London Metal Exchange were higher across the board at the 5pm close on Monday May 30 after trading on lower volumes due to US public holidays.

Seaborne coking coal prices in both markets drop on Monday

Seaborne coking coal prices in the fob Australia and cfr China markets dropped on Monday May 30, with offer prices in the fob Australia market falling and no buying interest for seaborne premium hard coking coal heard in the cfr China market, sources told Fastmarkets.

Positive sentiment lifts iron ore prices

Seaborne iron ore prices rose on Monday May 30 amid better market sentiment after lower cases of Covid-19 were reported in China and restrictions eased in Shanghai, sources told Fastmarkets.