SHANGHAI, Mar 26 (SMM) – After it was forecast that Tangshan's air pollution is likely to reach the orange level, the city activated its emergency level ?...? response to heavy air pollution at 20:00 on March 25 until further notice, SMM learned.An orange-level alert is the second-highest in China’s four-level air pollution warning system. An orange-level alert indicates that...Read More
SHANGHAI, Mar 26 (SMM) – After it was forecast that Tangshan's air pollution is likely to reach the orange level, the city activated its emergency level ?...? response to heavy air pollution at 20:00 on March 25 until further notice, SMM learned.An orange-level alert is the second-highest in China’s four-level air pollution warning system. An orange-level alert indicates that...Read More
SHANGHAI, Mar 26 (SMM)? 1/4 ? China releases data on its import and export of copper in Feruary 2018 (Unit: mt): Read More
SHANGHAI, Mar 26 (SMM) – The price spread between spot nickel briquette and Russian nickel plate stood at just 200 yuan/mt during the week ended March 23, compared with a typical price spread of 600-700 yuan/mt.This is because traders have held back from selling nickel briquette and offered high given their losses in imports, SMM believed.The average weekly loss of imported nickel briquette...Read More
Brazil has launched an anti-dumping investigation into imports of steel rolling-mill rollers from China, according to the country's foreign trade secretariat, Secex.The decision follows indications that Chinese rollers were entering the country at lower prices than domestic products, resulting in significant dumping margins, Secex said...Read More
SHANGHAI, Mar 26 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightGrowing trade tension dragged the US dollar index down to a month-low of 89.496, down 0.4% during the day and 0.8% over the week.Such bearish sentiment also led base metals to fall across the board except for zinc. SHFE copper saw a smaller decline but fell cl...Read More
SHANGHAI, Mar 26 (SMM) – Spot copper in the Shanghai market was offered at a discount of 200-150 yuan/mt on the morning of Monday March 26, SMM learned. This compared with discounts of 190-130 yuan/mt on the morning of Friday March 23. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.e...Read More
SHANGHAI, Mar 26 (SMM) – High-grade nickel pig iron (NPI) plants in China saw mixed profits as of late-March mainly due to their locations and furnaces, SMM research showed.While some high-grade NPI plants in Shandong province registered profits of more than 30% higher than their cash costs, those in Jiangsu and Fujian provinces saw profits between 20-30%. In Inner Mongolia, however, profits...Read More
SHANGHAI, Mar 26 (SMM) –Copper: While the market was rattled by the rising trade tension, crude oil saw a big jump in prices, which may give certain support to copper prices. We expect LME copper to trade at $6,620-6,670/mt today with SHFE copper at 49,700-50,200 yuan/mt. In the physical market, spot discounts are seen at 140-220 yuan/mt with thin trading activity as downstream consumers tak...Read More
SHANGHAI, Mar 26 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightGrowing trade tension dragged the US dollar index down to a month-low of 89.496, down 0.4% during the day and 0.8% over the week.Such bearish sentiment also led base metals to fall across the board except for zinc. SHFE copper saw a smaller decline but fell cl...Read More
SHANGHAI, Mar 26 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightGrowing trade tension dragged the US dollar index down to a month-low of 89.496, down 0.4% during the day and 0.8% over the week.Such bearish sentiment also led base metals to fall across the board except for zinc. SHFE copper saw a smaller decline but fell cl...Read More
South Korea is working to ease the steel import quota limits imposed by the United States following its Section 232 investigations, the Korea Iron & Steel Association (Kisa) said on Monday March 26.The 70% quota is based on the average US import volumes from South Korea for 2015-2017, which is about 74% of 2017's total, and was imposed after the US exempted South Korea from the Sect...Read More
SHANGHAI, Mar 26 (SMM) –Copper: While the market was rattled by the rising trade tension, crude oil saw a big jump in prices, which may give certain support to copper prices. We expect LME copper to trade at $6,620-6,670/mt today with SHFE copper at 49,700-50,200 yuan/mt. In the physical market, spot discounts are seen at 140-220 yuan/mt with thin trading activity as downstream consumers tak...Read More
SHANGHAI, Mar 26 (SMM) –Copper: While the market was rattled by the rising trade tension, crude oil saw a big jump in prices, which may give certain support to copper prices. We expect LME copper to trade at $6,620-6,670/mt today with SHFE copper at 49,700-50,200 yuan/mt. In the physical market, spot discounts are seen at 140-220 yuan/mt with thin trading activity as downstream consumers tak...Read More
Chinese rebar exports declined 58% year-on-year in February due to high prices.The country shipped 467,502 tonnes of rebar last month, down 58.37% from a year earlier, according to Chinese customs data released on Monday March 26. This number, however, is 48.07% higher than the 315,727 tonnes exported in January. High prices...Read More
China's stainless flat steel exports experienced a sharp year on year increase in February, although they dropped month on month.China exported 243,205 tonnes of stainless flat steel products, up 46,767 tonnes or 23.81% from 196,438 tonnes a year earlier, according to Chinese customs data released on Monday March 26. Last month's volume, however, is down 42,095 tonnes or 14.75% from January's 285,...Read More
London-based metals merchant Concord Resources is eyeing opportunities brought about by resource nationalism and protectionism, after announcing results that show how the company's rapid expansion accelerated through 2017. Concord tripled its net profit after tax, bringing in $20.73 million over 2017 - its second full trading year - representing a 23.9% gross return on average equity. Annuall...Read More
Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States adopted a wait-and-see attitude toward the market in the week ended Monday March 26, trying to avoid price declines, sources told Metal Bulletin."Prices are coming down and the market [for CIS-origin flat steel] seems to be frozen," a trader said.Metal Bulletin's weekly price assessment for CI...Read More
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday March 26, with copper the only exception. After a morning of price dips across the complex, the majority of metals found support throughout the day from the weaker the weaker dollar. The dollar index hit a low of 89.02. "The dollar is weak once again which helped prices pick up throughout the day. But cop...Read More
Antimony prices fell last week in Europe after more material reached warehouses in Rotterdam while demand remained weak; the Chinese market continued to be subdued lacking further direction.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,500-8,675 per tonne, down 0.7% from Wednesday's assessment and down from $8,600-8,800 per tonne level the week before....Read More