SHANGHAI, May 11 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 11. SHFE lead led the gains with a rise of over 1%. Copper grew nearly 0.7%, and aluminium inched up. Zinc, nickel, and tin went down slightly. The ferrous complex strengthened across the board with more gains in the afternoon. Coke rose nearly 3.2% from Thursday, iron ore gained almost 3%, while rebar, h...Read More
SHANGHAI, May 11 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 11. SHFE lead led the gains with a rise of over 1%. Copper grew nearly 0.7%, and aluminium inched up. Zinc, nickel, and tin went down slightly. The ferrous complex strengthened across the board with more gains in the afternoon. Coke rose nearly 3.2% from Thursday, iron ore gained almost 3%, while rebar, h...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.The Canadian Dollar slipped 0.09 to 78.41 cents U.S. following release of Canada' April Employment report at 8:30 AM EDT. Consensus was a gain in employment of 19,600 versus an increase of 32,300 in March. Actual was a drop of 1,100. Consensus for the Unemployment Rate was 5.8%, unchanged...Read More
SHANGHAI, May 11 (SMM) – Both production and sales of vehicles in China saw month-on-month declines in April but maintained their stable year-on-year increases, according to data from the China Association of Automobile Manufacturers (CAAM).China’s vehicle sales reached 2.32 million units in April, down 12.7% from a month ago but up 11.5% from a year ago. This brought the January-April...Read More
SHANGHAI, May 11 (SMM) – Both production and sales of vehicles in China saw month-on-month declines in April but maintained their stable year-on-year increases, according to data from the China Association of Automobile Manufacturers (CAAM).China’s vehicle sales reached 2.32 million units in April, down 12.7% from a month ago but up 11.5% from a year ago. This brought the January-April...Read More
SHANGHAI, May 11 (SMM) – Both production and sales of vehicles in China saw month-on-month declines in April but maintained their stable year-on-year increases, according to data from the China Association of Automobile Manufacturers (CAAM).China’s vehicle sales reached 2.32 million units in April, down 12.7% from a month ago but up 11.5% from a year ago. This brought the January-April...Read More
Three-month base metals prices on the London Metal Exchange gave a mixed performance on the morning of Friday May 11, with the complex averaging a slight 0.1% gain as at 06.42 am London time. Copper and aluminium were down by 0.2% and 0.4% respectively, nickel and zinc were little changed, while lead (+0.7) and tin (+0.3%) were the complex’s strongest performers. But with a total trading volu...Read More
SHANGHAI, May 11 (SMM) – Buyers in the spot zinc market in China showed a preference over lower-priced imported materials amid sufficient supply on Friday May 11, SMM learned.Trading liquidity was flat from the previous day as most downstream customers purchased on demand without stockpiling intention. In addition, some smelters were reluctant to let go cargoes at a lower price.In Shanghai,...Read More
SHANGHAI, May 11 (SMM) – Major copper ore producing countries including Chile, Peru and Zambia have raised their output forecast by 700,000 mt this year following higher production registered in the first quarter.In 2017, the total output of these three countries accounted for 44.3% of global copper ore production. SMM expects global copper ore output growth to reach 3.3% this year...Read More
SHANGHAI, May 11 (SMM) –Copper: The US dollar fell as the US consumer-price inflation growth for April missed expectations. Crude oil prices extended its gains as closing prices registered a new high since 2014, and this buoyed copper prices. LME copper surged overnight with a higher trading range, and now stands among moving averages. The SHFE 1807 contract cli...Read More
SHANGHAI, May 11 (SMM) –Copper: The US dollar fell as the US consumer-price inflation growth for April missed expectations. Crude oil prices extended its gains as closing prices registered a new high since 2014, and this buoyed copper prices. LME copper surged overnight with a higher trading range, and now stands among moving averages. The SHFE 1807 contract cli...Read More
SHANGHAI, May 11 (SMM) – Zinc inventories in China continued to decline as of Friday May 11 as deliveries arriving warehouses across Shanghai, Guangdong and Tianjin from smelters dwindled due to maintenance works at smelters in May, SMM believed.China's zinc inventories in warehouses across Shanghai, Tianjin and Guangdong shrank 11,900 mt to 136,100 mt as of Friday May 11, according to S...Read More
SHANGHAI, May 11 (SMM) – Operating rates in May across zinc oxide plants, especially in Shandong, Jiangsu and Hebei provinces, are likely to be affected as environmental inspections intensify ahead of the Shanghai Cooperation Organisation (SCO) Summit in Qingdao, Shandong province, in June. Hebei and Jiangsu border Shandong in the north and south,...Read More
China's vehicle production and sales maintained their year-on-year upward trend in April. The country produced 2.40 million vehicles last month, up 12% from 2.14 million units in April 2017, according to data released by the China Association of Automobile Manufacturers (CAAM) on Friday May 11. The sales...Read More
Colorado School of Mines celebrated its Spring 2018 Undergraduate Commencement on May 11, conferring a total of 910 bachelor's degrees as it welcomed its newest class of graduates into the Oredigger alumni community. At the ceremony, held at Marv Kay Stadium at the Harold M. and Patricia M. Korell Athletics Center, 16 outstanding students representing each of Mines' academic departments recei...Read More
SHANGHAI, May 11 (SMM) –Copper: The US dollar fell as the US consumer-price inflation growth for April missed expectations. Crude oil prices extended its gains as closing prices registered a new high since 2014, and this buoyed copper prices. LME copper surged overnight with a higher trading range, and now stands among moving averages. The SHFE 1807 contract cli...Read More
ArcelorMittal predicts that demand for steel will continue to pick up after posting positive financial results for the first quarter of 2018, the company said on Friday May 11."The improvement in global steel market dynamics has continued into 2018, supporting an encouraging financial performance in the first quarter," chairman and chief executive officer Lakshmi Mittal said.The world's biggest st...Read More
ArcelorMittal Europe's first-quarter 2018 earnings jumped 14.9% year-on-year due to higher steel shipments and prices, the company said on Friday May 11.Earnings before interest, taxes, depreciation and amortization (Ebitda) at ArcelorMittal Europe increased to $1.04 billion in the first three months of 2018, up from an Ebitda of $909 million in the corresponding period in 2017. The increase was m...Read More
Hot-rolled coil prices in the United States inched up for a third straight week as some market participants questioned whether widespread speculation about a summer correction would survive a recent plunge in imports.American Metal Market's hot-rolled coil index stands at $43.96 per hundredweight ($879.20 per ton), up 0.2% from $43.87 per cwt ($877.40 per ton) a week ago and up 34.7% from $32...Read More
Perhaps the most exciting thing about the Orexplore GeoCore X10 core scanner and Chrysos Corporation's photon assay tools is that nobody is really sure where their biggest impacts will be.Read More