U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Index futures were virtually unchanged following release of the March Housing Start report at 8:30 AM EDT. Consensus was 1.27 million units versus 1.236 million in February. Actual was 1.32 million units.Johnson & Johnson gained $1.04 to $132.80 after reporting higher than consensus...Read More
Metal Bulletin proposes to increase the frequency of the CIS export steel billet index, fob Black Sea ports, assessment from weekly to daily.Metal Bulletin proposes to change the frequency of the CIS export steel billet index assessment to daily.Metal Bulletin has put this proposal to the market in response to sufficient liquidity being observed to adjust the weekly price to a daily calculation. T...Read More
SHANGHAI, Apr 17 (SMM) – Nonferrous metals received a boost on Tuesday April 17 as China's gross domestic product (GDP) for the first quarter came in along expectations. SHFE aluminium surged 2.4% and tin and lead rose over 1%. Copper and zinc gained close to 1%, and nickel edged up.Most ferrous metals came off from highs and closed with mixed results. Coke rose over 1% and coking coal a...Read More
Aluminium Having secured a fresh 2018 high on April...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 t...Read More
SHANGHAI, Apr 17 (SMM) – Nonferrous metals received a boost on Tuesday April 17 as China's gross domestic product (GDP) for the first quarter came in along expectations. SHFE aluminium surged 2.4% and tin and lead rose over 1%. Copper and zinc gained close to 1%, and nickel edged up.Most ferrous metals came off from highs and closed with mixed results. Coke rose over 1% and coking coal a...Read More
SHANGHAI, Apr 17 (SMM) – Nonferrous metals received a boost on Tuesday April 17 as China's gross domestic product (GDP) for the first quarter came in along expectations. SHFE aluminium surged 2.4% and tin and lead rose over 1%. Copper and zinc gained close to 1%, and nickel edged up.Most ferrous metals came off from highs and closed with mixed results. Coke rose over 1% and coking coal a...Read More
Copper on the way up again... 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 as it...Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
Bearish chart continuation pattern triggered......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
SHANGHAI, Apr 17 (SMM) – Trading in the imported copper concentrate market was thin during the week ended April 13 as smelters held back purchasing on the relatively low treatment charges (TCs).SMM assessed clean copper concentrate TCs at $70-76/mt as of Friday April 13, down $0.5/mt from a week ago.The copper concentrate market remains in a tight balance even though impact of strikes at ove...Read More
SHANGHAI, Apr 17 (SMM) – Norilsk nickel in the Shanghai market traded at a premium of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on Tuesday April 17, while Jinchuan traded at a premium of 600 yuan/mt, SMM learned.Jinchuan offered nickel plate at 103,500 yuan/mt.Traders made offers actively due to ample supply. As nickel futures prices traded at high levels...Read More
SHANGHAI, Apr 17 (SMM) – In the first three months of this year, China produced 212.15 million mt of crude steel, up 5.4% year on year, according to latest data from the National Bureau of Statistics.The output of aluminium stood at 8.12 million mt, up 0.3% on the year.The output of nonferrous metals stood at 13.39 million mt, up 2.4% on the year. For editorial queries, please cont...Read More
In sight of fresh highs on Rusal’s...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 a...Read More
SHANGHAI, Apr 17 (SMM) – In the first three months of this year, China produced 212.15 million mt of crude steel, up 5.4% year on year, according to latest data from the National Bureau of Statistics.The output of aluminium stood at 8.12 million mt, up 0.3% on the year.The output of nonferrous metals stood at 13.39 million mt, up 2.4% on the year. For editorial queries, please cont...Read More
SHANGHAI, Apr 17 (SMM) – Spot copper in the Shanghai market was offered at a premium of 190-250 yuan/mt over the SHFE 1805 contract on Tuesday April 17, SMM learned. This compared with a premium of 40-100 yuan/mt over the 1804 contract the previous day.Spot premiums are unlikely to stay at high levels in the short term as sellers were keen to destock while buyers mostly purchased as needed d...Read More
SHANGHAI, Apr 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates declined, the US dollar index fell 0.41% overnight and hovered around 89.4. Base metals rose across the board, with LME metals driving their SHFE counterparts. LME aluminium rose close to 5% and hit a new high since September 2011 at one...Read More
Tin looks weak LME tin is...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 as it&#...Read More
SHANGHAI, Apr 17 (SMM) – In the first three months of this year, China produced 212.15 million mt of crude steel, up 5.4% year on year, according to latest data from the National Bureau of Statistics.The output of aluminium stood at 8.12 million mt, up 0.3% on the year.The output of nonferrous metals stood at 13.39 million mt, up 2.4% on the year. For editorial queries, please cont...Read More