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Seaborne low-vol PCI prices in both the fob and cfr markets fell following the drop in thermal coal prices. And China’s National Development & Reform Commission intervention, plus the news that stranded Australian coal was allowed to clear Chinese customs, have put market participants in a wait-and-see mode.
Spot prices for imported ferrous scrap into the key Vietnamese market slipped in the week to Friday October 29, on weakening sentiment caused by sharp losses in the ferrous complex in China, sources told Fastmarkets.
Base metals prices on the London Metal Exchange were broadly down on the morning of Friday October 29 following a brief rally on Thursday, however all but aluminium look set for a positive monthly close.
Battery-grade lithium prices in Asia nudged higher over the week to Thursday October 28 on lingering tightness in supply, costlier feedstock and monthly restocking among buyers.
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