Base metal stocks Articles

SHFE Zinc to Maintain Upward Momentum (2017-5-23)

May 23 2017 / Staff reporter

SHANGHAI, May 23 (SMM) - LME zinc will breach the 40- and 10-week moving average and maintain strong momentum. Eurozone May manufacturing PMI, US April manufacturing PMI and new home sales due for release today are expected to be mixed. LME zinc will move between USD 2,630-2,660/mt today. SHFE 1707 zinc will fluctuate between RMB 22,100-26,400/mt, with spot prices RMB 370-450/mt above SHFE 1706 zi...Read More

SMM Price Outlook for Base Metals on SHFE (May 23, 2017)

May 23 2017 / Staff reporter

SHANGHAI, May 23 (SMM) - Base metals finished mixed on Monday's night trading, and prices are expected to keep diverging on Tuesday.Key Macroeconomic Indicators for Base Metal Prices (2017-5-23)ProductPrice RangeCopper45,850-46,100Aluminum13,900-14,080Lead15,600-15,850Zinc22,100-26,400Tin144,500-147,500Nickel77,700-78,800Unit: yuan/tonneSource: SMMSMM Weekly Price Outlook for Base Metals on LME an...Read More

Downstream consistency holds lessons for upstream

23rd May 2017 / Andy Tidey

Recent Q1 results from the majors (publically reported results from: BP, Chevron, ExxonMobil, Shell, Total) have attracted a lot of attention due to the resurgence in upstream earnings, but we believe it is too early for upstream to declare success when it is faced with ongoing efficiency challenges.Aggregate upstream earnings for the majors were US$8.3 billion in Q1, a dramatic improvement on the...Read More

Main sea freight index at Baltic Exchange continues to decline to 956 point

May 22 2017 / Staff reporter

UNITED KINGDOM May 22 2017 1:38 PMLONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to decline to 956 points on Friday driven by lower panamax and supramax rates.The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials - such as coal, iron ore and grain - by sea by taking in 23 shipping...Read More

SHFE Market Movement (2017-05-22

May 22 2017 / Staff reporter

SHANGHAI,May.22 (SMM) - The following table is base metals movement on the SHFE market on May.22 2017. ContractOpenHighLowCloseSettleCh1Ch2VolumePositionChangeAl17061401514090138901393513990-154047192127286-12212Al17071410514170139501399014060-565243462254118-11146Al17081417014235140101404514115575726301195688150Al17091420514285140651410014160157516866807963546Cu170645520459704544045780...Read More

SMM Weekly Price Outlook for Base Metals on LME and SHFE (May 22-26, 2017)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Last week, base metals advanced at first, but then fell back. Precious metals got a boost after the commodity's appeal as a haven grew following Trump's biggest crisis of his presidency. Base metals are expected to swing in a wide range this week. LME 3-M (USD/mt)SHFE 3-M (RMB/mt)Copper5,485-5,63544,500-45,650Aluminum1,885-1,93013,800-14,100Zinc2,490-2,59021,000-21,600Lead...Read More

China Nickel Ore Inventories Keep Growing, SMM Reports

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Nickel ore inventories at seven major Chinese ports kept growing in the week ending May 19, Shanghai Metals Market data showed. Inventories at the seven ports grew after falling two weeks ago, up 120,000 last week, according to SMM data. How Much Further Can Nickel Ore Fall? SMM ReportsLast week, prices of medium and high-grade nickel ore, both for spot and future delivery...Read More

How Much Further Can Nickel Ore Fall? SMM Reports

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Last week, CIF prices for Ni 1.5% nickel ore extended declines, and fell below the low-end traded prices seen two weeks ago. Nickel ore prices have been falling since the beginning of 2017 according to SMM data, and will nickel ore prices keep falling? China Nickel Ore Inventories Keep Growing, SMM Reports "Weak demand is expected to continue weighing down nickel ore price...Read More

Key Macroeconomic Indicators for Base Metal Prices (2017-5-22)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) -Market attention will focus on Chicago Fed National Activity Index for April, as well as remarks by President of Philadelphia Federal Reserve and Minneapolis Federal Reserve today. Recent political scandal in the US hit the US dollar and reduced possibility of rate hike in June. But, optimistic remarks by US Fed officials earlier still supported rate hike in June. US Fed o...Read More

SMM Price Outlook for Base Metals on SHFE (May 22, 2017)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Base metals rallied across the board last Friday's night trading, and eyes should be on price resistance at highs on Monday.Key Macroeconomic Indicators for Base Metal Prices (2017-5-22)ProductPrice RangeCopper45,500-46,000Aluminum14,000-14,200Lead15,500-15,800Zinc21,800-22,300Tinresistance at 148,000Nickel77,200-79,000Unit: yuan/tonneSource: SMMNote: Prices all above are...Read More

Main sea freight index at Baltic Exchange continues to decline to 956 point

May 22 2017 / Staff reporter

UNITED KINGDOM May 22 2017 1:38 PMLONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to decline to 956 points on Friday driven by lower panamax and supramax rates.The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials - such as coal, iron ore and grain - by sea by taking in 23 shipping...Read More

SHFE Copper Finishes with Big Gains (2017-5-22)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - On Monday, ferrous metals surged and zinc outperformed base metals. SHFE 1707 copper fluctuated at around RMB 45,900/mt after opening and declined to RMB 45,750/mt at the tail of mid-day trading with longs taking profits. Later, the contract rebounded thanks to leaving of shorts and closed at RMB 45,800/mt, up RMB 670/mt. Trading volumes rose 37,000 to 317,000 lots and pos...Read More

SHFE Market Movement (2017-05-22

May 22 2017 / Staff reporter

SHANGHAI,May.22 (SMM) - The following table is base metals movement on the SHFE market on May.22 2017. ContractOpenHighLowCloseSettleCh1Ch2VolumePositionChangeAl17061401514090138901393513990-154047192127286-12212Al17071410514170139501399014060-565243462254118-11146Al17081417014235140101404514115575726301195688150Al17091420514285140651410014160157516866807963546Cu170645520459704544045780...Read More

SMM Weekly Price Outlook for Base Metals on LME and SHFE (May 22-26, 2017)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Last week, base metals advanced at first, but then fell back. Precious metals got a boost after the commodity's appeal as a haven grew following Trump's biggest crisis of his presidency. Base metals are expected to swing in a wide range this week. LME 3-M (USD/mt)SHFE 3-M (RMB/mt)Copper5,485-5,63544,500-45,650Aluminum1,885-1,93013,800-14,100Zinc2,490-2,59021,000-21,600Lead...Read More

Key Macroeconomic Indicators for Base Metal Prices (2017-5-22)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) -Market attention will focus on Chicago Fed National Activity Index for April, as well as remarks by President of Philadelphia Federal Reserve and Minneapolis Federal Reserve today. Recent political scandal in the US hit the US dollar and reduced possibility of rate hike in June. But, optimistic remarks by US Fed officials earlier still supported rate hike in June. US Fed o...Read More

LME Copper to Strengthen (2017-5-22)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - LME copper will move at USD 5,640-5,700/mt during Asian trading hours on Monday and SHFE 1707 copper will move at RMB 45,500-46,000/mt.In China's domestic market, spot copper should trade at discounts of RMB 40-100/mt on Monday.Read More

SMM Price Outlook for Base Metals on SHFE (May 22, 2017)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - Base metals rallied across the board last Friday's night trading, and eyes should be on price resistance at highs on Monday.Key Macroeconomic Indicators for Base Metal Prices (2017-5-22)ProductPrice RangeCopper45,500-46,000Aluminum14,000-14,200Lead15,500-15,800Zinc21,800-22,300Tinresistance at 148,000Nickel77,200-79,000Unit: yuan/tonneSource: SMMNote: Prices all above are...Read More

Main sea freight index at Baltic Exchange continues to decline to 956 point

May 22 2017 / Staff reporter

UNITED KINGDOM May 22 2017 1:38 PMLONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to decline to 956 points on Friday driven by lower panamax and supramax rates.The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials - such as coal, iron ore and grain - by sea by taking in 23 shipping...Read More

SHFE 1707 Zinc Lead Price Gains of Nonferrous Metals (2017-5-22)

May 22 2017 / Staff reporter

SHANGHAI, May 22 (SMM) - SHFE 1707 zinc opened at RMB 22,260/mt today and pulled up to RMB 22,525/mt, the highest from April 10, and then fluctuated around RMB 22,320/mt. In the afternoon, SHFE 1707 zinc hovered around RMB 22,200/mt, and closed at RMB 22,195/mt, up RMB 895/mt or 4.20%.Trading volumes on SHFE 1707 zinc increased 64,448 to 990,000 lots, and positions fell 1,176 to 303,000. SHFE 1707...Read More

Zinc Inventories Fall for 3 Months in a Row in China Major Markets, SMM Reports

May 22 2017 / Staff reporter

SHANGHAI, May. 22 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong decreased 8,400 to 137,100 tonnes last week, down for three months on end, SMM data show.China Zinc Concentrate TCs are Flat, SMM ReportsZinc inventories grew slightly in Tianjin, but continued falling in Shanghai and Guangdong.Zinc to Fluctuate at High Levels This Week, SMM ForeseesTotal inventories in the thre...Read More