SHANGHAI, May 29 (SMM) – Nonferrous metals futures rose across the board on Tuesday May 29 except for SHFE aluminium. SHFE tin soared 3.7% and hit the highest level in one and an half years at 155,140 yuan/mt. SHFE nickel jumped 2.8% and finished the day at a three-year high at 112,880 yuan/mt. SHFE lead and zinc rose over 1% with copper slightly up.The ferrous complex also rose across the b...Read More
SHANGHAI, May 29 (SMM) – Nonferrous metals futures rose across the board on Tuesday May 29 except for SHFE aluminium. SHFE tin soared 3.7% and hit the highest level in one and an half years at 155,140 yuan/mt. SHFE nickel jumped 2.8% and finished the day at a three-year high at 112,880 yuan/mt. SHFE lead and zinc rose over 1% with copper slightly up.The ferrous complex also rose across the b...Read More
SHANGHAI, May 29 (SMM) – Nonferrous metals futures rose across the board on Tuesday May 29 except for SHFE aluminium. SHFE tin soared 3.7% and hit the highest level in one and an half years at 155,140 yuan/mt. SHFE nickel jumped 2.8% and finished the day at a three-year high at 112,880 yuan/mt. SHFE lead and zinc rose over 1% with copper slightly up.The ferrous complex also rose across the b...Read More
Three-month base metals prices on the London Metal Exchange were for the most part stronger on the morning of Tuesday May 29, with gains averaging 0.8%, except aluminium where prices are off 0.1%, while copper prices are up 0.3% at 46,879 per tonne. Volume on the LME has been high, with 10,305 lots traded as of 6:59am London time. This follows a general day of weakness on Friday, when all the meta...Read More
SHANGHAI, May 29 (SMM) – Copper: The SHFE 1807 contract mostly hovered above the daily moving average at 51,200 yuan/mt last night but jumped to a high of 51,470 yuan/mt near closing as investors cut their shorts. It closed slightly lower from last Friday night with pressure from a stronger US dollar. We see it trading at 51,300-51,650 yuan/mt today with support at 51,300 yuan/mt. LME c...Read More
SHANGHAI, May 29 (SMM) – While the SHFE 1807 zinc contract saw three consecutive days of increase and closed 260 yuan/mt higher at 51,710 yuan/mt on Tuesday May 29 due to declining social inventory, a downward turn may be in sight.This is due to sluggish downstream demand from galvanising plants despite stable orders across zinc die-casting alloy producers, market participants told SMM....Read More
SHANGHAI, May 29 (SMM) – Spot copper was mostly offered at a discount of 80-20 yuan/mt to the SHFE 1806 contract on Tuesday May 29 in the Shanghai market. This compared with a discount of 90-20 yuan/mt on Monday May 28.The SHFE 1806 contract gained nearly 300 yuan/mt to a high of 51,560 yuan/mt in the morning. Transaction liquidity was down from the previous day as sellers were unwillin...Read More
SHANGHAI, May 29 (SMM) – Copper: The SHFE 1807 contract mostly hovered above the daily moving average at 51,200 yuan/mt last night but jumped to a high of 51,470 yuan/mt near closing as investors cut their shorts. It closed slightly lower from last Friday night with pressure from a stronger US dollar. We see it trading at 51,300-51,650 yuan/mt today with support at 51,300 yuan/mt. LME c...Read More
SHANGHAI, May 29 (SMM) – Copper: The SHFE 1807 contract mostly hovered above the daily moving average at 51,200 yuan/mt last night but jumped to a high of 51,470 yuan/mt near closing as investors cut their shorts. It closed slightly lower from last Friday night with pressure from a stronger US dollar. We see it trading at 51,300-51,650 yuan/mt today with support at 51,300 yuan/mt. LME c...Read More
Kudumane Manganese Resources (KMR) will start production from its Hotazel mine in South Africa's Northern Cape from September and the output will be 40% manganese ore with 5% iron content, Gautam Kumar, associate director of Asia Minerals Ltd (AML), confirmed to Metal Bulletin.AML, which is based in Hong Kong, has a 36.75% share of KMR under a joint venture agreement. The first commercial shipment...Read More
Three-month base metals prices on the London Metal Exchange were for the most part stronger on the morning of Tuesday May 29, with gains averaging 0.8%, except aluminium where prices are off 0.1%, while copper prices are up 0.3% at 46,879 per tonne.Volume on the LME has been high, with 10,305 lots traded as of 6:59am London time. This follows a general day of weakness on Friday, when all the metal...Read More
The downward price trend in the CIS export billet market continued early this week amid sluggish trading activity and pressure from the import scrap market in Turkey.Metal Bulletin's CIS billet export index was $509 per tonne fob Black Sea on Tuesday May 29, down by $6 per tonne from $515 per tonne fob Black Sea on May 25.The CIS billet export index was not published...Read More
Chinese ferro-silicon prices strengthened in the week ended Friday May 25 after a major consumer increased its monthly buying price for May and showed a willingness to pay more for June shipments, while European prices dropped on the high end, but lower grade sales shored up support for standard grade, while in the United States prices remained steady in a quiet market. China moves up and set to c...Read More
European alloy steel surcharges for June deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fifth consecutive month on an increase in nickel costs to reach a six-year high.The June alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,503-1,535 ($1,752-1,790) per tonne. This is up sharply mont...Read More
Chinese vanadium exporters held prices steady last week amid sluggish trading activity, while European ferro-vanadium prices bounced back due to tightening inventories. Chinese vanadium export prices steady amid thin trading activity European ferro-vanadium prices rebound on signs of inventory tightness Ferro-vanadium market weaker in the United States, with traders reduc...Read More
The latest metal markets news and prices moves for the start of the North American day on Tuesday May 29. Nickel and lead prices maintained broad strength during morning trading in Europe today, while the three-month tin and zinc prices rebounded from recent lulls amid a rallying US dollar. Here's how LME base metals prices looked at 13:18 London time:Check out the latest futures price moves in ou...Read More
Kudumane Manganese Resources (KMR) will start production from its Hotazel mine in South Africa's Northern Cape from September and the output will be 40% manganese ore with 5% iron content, Gautam Kumar, associate director of Asia Minerals Ltd (AML), confirmed to Metal Bulletin.AML, which is based in Hong Kong, has a 36.75% share of KMR under a joint venture agreement. The first commercial shipment...Read More
Selenium prices dropped from three-year highs last week in Europe on weakening demand and increasing spot market availability.Metal Bulletin assessed selenium free market in-warehouse prices at $21-23.5 per lb on Friday May 25, down from the mid-week assessment of $23-24.5 per lb.Selenium prices in Europe had been in an upward trend since the beginning of this year on healthy demand from Asia.Sele...Read More
Chinese ferro-silicon prices strengthened in the week ended Friday May 25 after a major consumer increased its monthly buying price for May and showed a willingness to pay more for June shipments, while European prices dropped on the high end, but lower grade sales shored up support for standard grade, while in the United States prices remained steady in a quiet market. China moves up and set to c...Read More
European alloy steel surcharges for June deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fifth consecutive month on an increase in nickel costs to reach a six-year high.The June alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,503-1,535 ($1,752-1,790) per tonne. This is up sharply mont...Read More