November 3, 2021

LME Aluminum 3M rallies as China reverses course in coal market intervention, sending domestic thermal coal prices higher. 

During a web conference on Wednesday, China’s state planner stated that coal prices should not drop too far too fast.  This statement comes after prior state intervention caused Chinese thermal coal prices to drop nearly 50% in the last two weeks.  Thermal coal futures rallied nearly 9% with China’s policy clarification, and aluminum also rallied.  Aluminum prices could rally further if higher energy costs hinder production.  (11/03/2021).

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AEGIS Insights

11/01/2021: Section 232 Tariffs: Most relevant developments (AEGIS Reference)

10/28/2021: AEGIS Factor Matrices: Most important variables affecting metals prices

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Important Headlines & Economic Data

AISI Steel Capability Utilization Rate

Investing.com Economic Calendar 

11/03/2021: China coal prices claw back after Beijing signals pacing down price drive

11/03/2021: China coking coal futures track spot prices higher, jump over 14%

11/02/2021: Iron Ore Back Below $100 as China’s Steel Curbs Roil Market

11/02/2021: China eases power crunch with boost to coal production

11/02/2021: Aluminium prices to stay high until next year, owing to high energy cost: Global Analysts

10/31/2021: EU and US agree to start discussions on a Global Arrangements on Sustainable Steel and Aluminum and suspend steel and aluminum trade disputes

10/30/2021: U.S., EU end Trump-era tariff war over steel and aluminum

10/30/2021: APAA Supports the Biden Administration's Tariff-Rate Quota Deal with the European Union

10/30/2021: USW Supports Interim Arrangement with EU on Section 232