SHANGHAI, Apr 18 (SMM) – Nonferrous metals rebounded across the board on Wednesday April 18, except for lead. SHFE zinc, tin and nickel rose close to 1%, copper gained 0.63%, and aluminium edged up slightly.The ferrous complex remained strong. Coke surged close to 5%, coking coal jumped 3%, hot-rolled coil and iron ore gained over 2% and rebar rose close to 2%.Copper: SHFE copper broke the 5...Read More
SHANGHAI, Apr 18 (SMM) – Nonferrous metals rebounded across the board on Wednesday April 18, except for lead. SHFE zinc, tin and nickel rose close to 1%, copper gained 0.63%, and aluminium edged up slightly.The ferrous complex remained strong. Coke surged close to 5%, coking coal jumped 3%, hot-rolled coil and iron ore gained over 2% and rebar rose close to 2%.Copper: SHFE copper broke the 5...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 – China's zinc spot market traded more actively on Wednesday April 18 than yesterday. As the SHFE 1805 contract failed to stay firm above 24,000 yuan/mt this morning, downstream demand in Shanghai held steady amid relatively tight supplies, SMM learned.In the Shanghai market, 0# zinc traded at 24,150-24,230 yuan/mt. The 0# common brand traded at a pre...Read More
Prices for domestic hollow sections remain unchanged in Northern and Southern Europe over the week although mills were pushing for price increases, sources told Metal Bulletin on Wednesday April 18.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Southern Europe was unchanged week-on-week at ?,?620-655 ($767-810) per tonne delivered on A...Read More
SHANGHAI, Apr 18 (SMM) – China’s copper anode imports have risen as the country continued to expand its copper smelting capacity and as its domestic raw material supply percentage is below 30%.In 2017, imported copper anode accounted for 9.1% of the total raw materials used for copper smelting in China. This compared with 8.8% in 2016, SMM data showed.Zambia, Chile, and the Democr...Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More
SHANGHAI, Apr 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rebounded to 89.4 from a low of 89.215 overnight. Most base metals rose. SHFE copper and nickel dipped, zinc rose over 1%. LME aluminium, zinc, and tin went up over 1%, lead and nickel inched up slightly. Only copper edged down.China’s gr...Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More
SHANGHAI, Apr 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rebounded to 89.4 from a low of 89.215 overnight. Most base metals rose. SHFE copper and nickel dipped, zinc rose over 1%. LME aluminium, zinc, and tin went up over 1%, lead and nickel inched up slightly. Only copper edged down.China’s gr...Read More
SHANGHAI, Apr 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rebounded to 89.4 from a low of 89.215 overnight. Most base metals rose. SHFE copper and nickel dipped, zinc rose over 1%. LME aluminium, zinc, and tin went up over 1%, lead and nickel inched up slightly. Only copper edged down.China’s gr...Read More
SHANGHAI, Apr 18 (SMM) –Copper: LME copper fell with higher trading levels. Technically, it struggled among the moving averages as longs significantly reduced their positions. Affected by its LME counterpart, the SHFE 1806 contract saw a lower trading level and moved rangebound. It stood above the 20-day moving average, away from the 40-day moving average. We expect LME copper to trade...Read More
The number of new passenger car sales in the EU fell by 5.25% year on year in March 2018, following two consecutive months of rises.New car sales in Europe totaled 1,792,599 units in March, compared with 1,891,999 vehicles sold in the corresponding month of 2017, the European Automotive Manufacturers Assn (ACEA) said...Read More
SHANGHAI, Apr 18 (SMM) –Copper: LME copper fell with higher trading levels. Technically, it struggled among the moving averages as longs significantly reduced their positions. Affected by its LME counterpart, the SHFE 1806 contract saw a lower trading level and moved rangebound. It stood above the 20-day moving average, away from the 40-day moving average. We expect LME copper to trade...Read More
SHANGHAI, Apr 18 (SMM) –Copper: LME copper fell with higher trading levels. Technically, it struggled among the moving averages as longs significantly reduced their positions. Affected by its LME counterpart, the SHFE 1806 contract saw a lower trading level and moved rangebound. It stood above the 20-day moving average, away from the 40-day moving average. We expect LME copper to trade...Read More
The flat steel import trade in Iran has been almost non-existent in the past several weeks because of currency exchange rate issues.One of the major concerns for traders selling material to Iran and Iranian customers has been the 20% devaluation of the country's national currency, the rial, since the beginning of April.On Wednesday April 18, the rial was trading at IRR57,000 to $1 on the country's...Read More
Rio Tinto is expecting its Canadian iron ore pellet and concentrate output to drop this year but is maintaining its guidance for its Australian iron ore and coking coal operations.Pilbara iron oreThe miner shipped 80.3 million tonnes of iron ore on a 100% basis from its Pilbara operations in Western Australia in the first three months of 2018, up 5% from a year earlier but down 11% in comparison w...Read More