The European Commission has warned that it is prepared to impose temporary safeguard duties on imports into the European Union of US-made steel and aluminium in response to new US import duties on aluminium and steel imports. The EC has released a draft list of products which may in future attract retaliatory duties, including a wide range of aluminium and steel products, such as bars, rods, angle...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Monday March 19, while Jinchuan stayed flat at 101,500 yuan/mt, SMM learned.While traders made offers actively due to ample supply, downstream customers took a wait-and-see approach. Trading was relatively thin with transactions d...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 260-220 yuan/mt on the morning of Monday March 19, SMM learned. This compared with discounts of 290-250 yuan/mt last Friday morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More
SHANGHAI, Mar 19 (SMM) –Copper: LME copper lost the support from the five- and 10-day moving averages as the US dollar strengthened, while its SHFE counterpart performed no better. We expect LME copper to trade at $6,830-6,900/mt today, with SHFE copper at 51,400-51,900 yuan/mt. Spot discounts are seen smaller at 250-200 yuan/mt.Aluminium: LME aluminium gradually fell with resistance at the...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More
Cobalt prices have consolidated their move last week to more than $40 per lb, amid increased spot demand for metal against a backdrop of tight supplies, a limited number of sellers, and strong downstream demand."The days of sub-$40 [per lb] buying are history," a trader source said on Monday March 19.High-grade cobalt prices were assessed at $41.70-43.00 per lb, in-warehouse, on March 16. This was...Read More
SHANGHAI, Mar 19 (SMM) –Copper: LME copper lost the support from the five- and 10-day moving averages as the US dollar strengthened, while its SHFE counterpart performed no better. We expect LME copper to trade at $6,830-6,900/mt today, with SHFE copper at 51,400-51,900 yuan/mt. Spot discounts are seen smaller at 250-200 yuan/mt.Aluminium: LME aluminium gradually fell with resistance at the...Read More
SHANGHAI, Mar 19 (SMM) –Copper: LME copper lost the support from the five- and 10-day moving averages as the US dollar strengthened, while its SHFE counterpart performed no better. We expect LME copper to trade at $6,830-6,900/mt today, with SHFE copper at 51,400-51,900 yuan/mt. Spot discounts are seen smaller at 250-200 yuan/mt.Aluminium: LME aluminium gradually fell with resistance at the...Read More
Steel traders in the central region of Russia, around Moscow, have held back from the markets in the past week and have not accepted higher offers for April-production hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was unchanged at 43,000-45,000 roubles ($747-782) cpt Moscow, including VAT, on Monday...Read More
Competition in the export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States has been intense over the past week, because suppliers preferred to hold back their offers despite a continued price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $605-625 per tonne fob Black Sea on Monday Mar...Read More
Several deals were heard secured early last week, after which buying activity in the CIS export billet market faded with downward sentiment starting to spread while prices fell in China."The market got frozen recently [and] people are watching Chinese prices falling significantly," an international trading source told Metal Bulletin.Metal Bulletin's export CIS Billet Index remained largely unchang...Read More
The latest metal markets news and price moves to start the North American day on Monday March 19.Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected.Here's how base...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Monday March 19.Base metal prices on the Shanghai Futures Exchange were all lower during Asian morning trading on Monday, with several factors including easing supply concerns, a stronger dollar and an upcoming United States monetary policy meeting pressuring copper prices in particular.Che...Read More
Lithium mostly hits the headlines in debate about increasing battery production, but it's probably not presently the mineral that worries the industry most. That distinction likely goes to cobalt, for a few reasons. It is - with today's technology - a vital part of lithium-ion batteries, which are those used in smartphones, laptops and other devices, including, importantly, the current generation...Read More
London Metal Exchange warehouse stocks have staged a recovery over the first few months of this year from the multi-year lows of 2017, due to a flurry of large deliveries across many of the base metals. After last year was marked by dwindling stock levels across the board, the first few months of 2018 have seen a reversal - with companies putting more metal back into LME-approved warehouses. "The...Read More