SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
SHANGHAI, Mar 30 (SMM) – To improve air quality, the city of Handan plans will oversee staggered production during non-heating season from April 1-November 15, 2018. The city will intensify their efforts to regulate key companies, reduce pollutant emission from manufacturers, reinforce control on emission from heavy duty trucks and overhaul traffic control....Read More
SHANGHAI, Mar 30 (SMM) – To improve air quality, the city of Handan plans will oversee staggered production during non-heating season from April 1-November 15, 2018. The city will intensify their efforts to regulate key companies, reduce pollutant emission from manufacturers, reinforce control on emission from heavy duty trucks and overhaul traffic control....Read More
SHANGHAI, Mar 30 (SMM) – To improve air quality, the city of Handan plans will oversee staggered production during non-heating season from April 1-November 15, 2018. The city will intensify their efforts to regulate key companies, reduce pollutant emission from manufacturers, reinforce control on emission from heavy duty trucks and overhaul traffic control....Read More
SHANGHAI, Mar 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index stood above 90, buoyed by month-end capital flows.Most SHFE metals registered gains following China’s announcement of corporate tax cuts, with nickel and tin rising over 1%. SHFE copper inched up. LME nickel sharply jumped close to 3%, tin edged up...Read More
SHANGHAI, Mar 30 (SMM) – China's imports of zinc ingots in February fell 43.8% on the month and stood at 37,710 mt. Zinc imports are likely to remain in a downward trend in April, at a slower pace from the previous month, SMM expects. Zinc imports have seen losses for five consecutive months as the SHFE/LME zinc price ratio declined. Amid sensitive sentiment...Read More
SHANGHAI, Mar 30 (SMM) – Operating rates at wire and cable companies rebounded in March from February, driven by higher rates at large plants, SMM found. Orders grew and downstream consumers purchased actively, prompted by the recent low copper prices. Resumption of orders across large producers of wire and cable also improved from last year, as output surged. Meanwhile, State Grid Corp...Read More
SHANGHAI, Mar 30 (SMM) –Copper: Copper prices rebounded as concerns of a trade war cooled. LME copper stood above the five-day moving average and tested the 10-day moving average, with its KDJ indicator extending upwards. SHFE copper performed similarly, and stablised at a low level with strong pressure. As the LME is closed today, we expect the SHFE 1805 contract to trad...Read More
SHANGHAI, Mar 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index stood above 90, buoyed by month-end capital flows.Most SHFE metals registered gains following China’s announcement of corporate tax cuts, with nickel and tin rising over 1%. SHFE copper inched up. LME nickel sharply jumped close to 3%, tin edged up...Read More
SHANGHAI, Mar 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index stood above 90, buoyed by month-end capital flows.Most SHFE metals registered gains following China’s announcement of corporate tax cuts, with nickel and tin rising over 1%. SHFE copper inched up. LME nickel sharply jumped close to 3%, tin edged up...Read More
SHANGHAI, Mar 30 (SMM) –Copper: Copper prices rebounded as concerns of a trade war cooled. LME copper stood above the five-day moving average and tested the 10-day moving average, with its KDJ indicator extending upwards. SHFE copper performed similarly, and stablised at a low level with strong pressure. As the LME is closed today, we expect the SHFE 1805 contract to trad...Read More
SHANGHAI, Mar 30 (SMM) –Copper: Copper prices rebounded as concerns of a trade war cooled. LME copper stood above the five-day moving average and tested the 10-day moving average, with its KDJ indicator extending upwards. SHFE copper performed similarly, and stablised at a low level with strong pressure. As the LME is closed today, we expect the SHFE 1805 contract to trad...Read More
China's hot-rolled coil prices rose steadily on Friday March 30 after futures soared during the day.DomesticEastern China (Shanghai): 3,820-3,840 yuan ($607-610) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,790-3,810 yuan per tonne, up 50 yuan per tonneSpot prices jumped in both eastern and northern regions after the paper market strengthened throughout the day, according to market p...Read More
Ferrous futures in China continued their recent run of strength during the morning trading session on Friday March 30, with only iron ore weakening slightly.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,324 yuan ($528) per tonne, up 34 yuan per tonne May hot-rolled coil: 3,644 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 436 yuan...Read More
Egypt's biggest steel producer, Ezz Steel, enjoyed normal industrial operations in 2017 after several years of disturbed activity, the company said on Thursday March 29. Firstly, Ezz Steel did not suffer any interruptions to the electricity or natural gas supplies. Secondly, the foreign currency needed for the purchase of imported raw materials was made available without limitation, company chairm...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
China's domestic rebar prices increased on Friday March 30, tracking increases in the futures market.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($564-572) per tonne, up 60-90 yuan per tonneNorthern China (Beijing): 3,710-3,740 yuan per tonne, up 30-40 yuan per tonneTraders raised their prices in line with the strong gains in the futures market, while buyers with urgent needs maintained a...Read More
The seaborne iron ore concentrate market saw limited activity in the week ended Thursday March 29, with some sellers offering lower premiums to entice business.The weekly Metal Bulletin 66% Fe Iron Ore Concentrate Index was at $86.64 per tonne cfr China on Thursday, down by $1.55 per tonne or 1.8% from a week earlier. The daily Metal Bulletin 65% Fe Iron Ore Index averaged $80.68 per tonne cfr Chi...Read More