Import prices for steel billet and slab in Southeast Asia were relatively steady over the past week amid soft demand as a result of subdued sales downstream, particularly in Indonesia.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $550-560 per tonne cfr for the week ended Monday May 14, narrowing upward by $5 per tonne from a week earlier.Deals involving billet...Read More
Aluminium consolidating around the $2,300 per...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest i...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade. Index futures moved lower following release of economic news at 8:30 AM EDT. Consensus for April Retail Sales was an increase of 0.3% versus a revised gain of 0.8% in March. Actual was an increase of 0.3%. Excluding auto sales, consensus for April Retail Sales was an increase of 0.5% ve...Read More
Market acceptance of the quarterly European ferro-chrome benchmark system will continue for at least the short term, according to market participants polled by Metal Bulletin. Discontent with the settlement in previous years appears to have faded because of the stability it offers in relation to the volatility seen on the Chinese spot market. The benchmark is set in negotiations between the buy an...Read More
SHANGHAI, May 15 (SMM) – Most nonferrous metals rose on Tuesday May 15 except for SHFE copper and lead. SHFE nickel led the gains and closed 1.7% higher. Aluminium, zinc, and tin went up slightly. The ferrous complex rose across the board with coke leading the gains with a rise of over 1%. Coking coal increased nearly 1%, hot-rolled coil gained 0.7%, while rebar and iron ore inched up.C...Read More
SHANGHAI, May 15 (SMM) – Most nonferrous metals rose on Tuesday May 15 except for SHFE copper and lead. SHFE nickel led the gains and closed 1.7% higher. Aluminium, zinc, and tin went up slightly. The ferrous complex rose across the board with coke leading the gains with a rise of over 1%. Coking coal increased nearly 1%, hot-rolled coil gained 0.7%, while rebar and iron ore inched up.C...Read More
Aluminium Last week our headline was that aluminium prices...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus dow...Read More
SHANGHAI, May 15 (SMM) – Most nonferrous metals rose on Tuesday May 15 except for SHFE copper and lead. SHFE nickel led the gains and closed 1.7% higher. Aluminium, zinc, and tin went up slightly. The ferrous complex rose across the board with coke leading the gains with a rise of over 1%. Coking coal increased nearly 1%, hot-rolled coil gained 0.7%, while rebar and iron ore inched up.C...Read More
Chinese ferro-silicon prices strengthened in the week ending Friday May 11 after production was cut in the country due to higher electricity costs for producers, with the trend seen persisting through June. Chinese consumers look to buy ahead of higher prices US market sags amid inactivity, more imports European spot market stagnates after second-quarter settlements Chinese domestic f...Read More
HONG KONG, May 15 (SMM) – The outlook on China’s macroeconomics appears more bullish than it was at the start of the year, according to Ian Roper, general manager of SMM Singapore.It was clear at the start of the year that China looked to slow down growth by tightening credit and cutting infrastructure spending, given stronger global economic growth, Roper told delegates at t...Read More
SHANGHAI, May 15 (SMM) –Copper: LME copper plummeted to a low of $6,850/mt last night as LME copper inventory grew 8,900 mt. This was the first increase in inventory after close to two weeks of decline. LME copper stood below the five-day moving average with significant pressure from several moving averages above. It is likely to trade at $6,850-6,900/mt today. The SHFE 1807 contract was dra...Read More
Copper witnesses some short-covering... LME copper...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
HONG KONG, May 15 (SMM) – The outlook on China’s macroeconomics appears more bullish than it was at the start of the year, according to Ian Roper, general manager of SMM Singapore.It was clear at the start of the year that China looked to slow down growth by tightening credit and cutting infrastructure spending, given stronger global economic growth, Roper told delegates at t...Read More
China's import markets for charge chrome and chrome ore have shown signs of recovery after producers refused to cut offers. Charge chrome import prices gain in China UG2 chrome ore prices edge higherChina's domestic ferro-chrome prices holdAlloy prices weaken in South Korea and Japan Alloy prices flatline in Europe and the United StatesCharge chrome and chrome ore prices staged a modest rebound in...Read More
SHANGHAI, May 15 (SMM) – Nickel prices received support as capital inflows surged on short supplies in the market as of Tuesday May 15. However, SMM does not expect the uptick in prices to be sustained as stainless steel consumption is likely to cool in June and as optimism from nickel sulphate for the battery industry weakens.The SHFE nickel 1807 contract climbed up to c...Read More
Support found around $2,240 per...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon a...Read More
SHANGHAI, May 15 (SMM) –Copper: LME copper plummeted to a low of $6,850/mt last night as LME copper inventory grew 8,900 mt. This was the first increase in inventory after close to two weeks of decline. LME copper stood below the five-day moving average with significant pressure from several moving averages above. It is likely to trade at $6,850-6,900/mt today. The SHFE 1807 contract was dra...Read More
SHANGHAI, May 15 (SMM) –Copper: LME copper plummeted to a low of $6,850/mt last night as LME copper inventory grew 8,900 mt. This was the first increase in inventory after close to two weeks of decline. LME copper stood below the five-day moving average with significant pressure from several moving averages above. It is likely to trade at $6,850-6,900/mt today. The SHFE 1807 contract was dra...Read More
Déjà vu: LME Week and EV bullishness...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
Tin starts weakening LME tin weakened...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More