The number of new passenger car sales in the EU increased by 4.33% year-on-year in February 2018, making it the second month of consecutive growth.New car sales in Europe totaled 1,125,397 units in February, compared with 1,078,721 vehicles sold in the corresponding month of 2017, the...Read More
Global crude stainless steel production totaled 48.08 million tonnes in 2017, according to figures released by the International Stainless Steel Forum (ISSF) on Thursday March 15.This was up 5.79% from the revised figure of 45.45 million tonnes produced in 2016.Production in China was 25.77 million tonnes in 2017, up 4.74% from 24.61 million tonnes in 2016.Output in Asia -...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday March 15, apart from zinc and lead.A stronger dollar and a hesitant market saw copper and nickel both fall significantly, with the three-month copper price closing $68.50 per tonne lower. The red metal is finding it hard to push back and stabilize above $7,000 per tonne and has undone all of Wednesday's gain...Read More
Turkish import and export billet prices have increased, amid strong local demand and tightening supplies in the CIS region, sources said on Thursday March 15.Metal Bulletin's weekly price assessment for billet imports into Turkey was $560-570 per tonne cfr, up from $545-550 per tonne.There were several billet sales from the...Read More
Major international mining companies operating in the Democratic Republic of Congo (DRC) have resigned from the country's Chamber of Commerce ahead of a month of talks with the government to resolve their dispute over the new mining code. A legal and technical team representing Randgold Resources, AngloGold Ashanti, Glencore PLC, Ivanhoe Mines, Gold Mountain International/Zijin Mining Group, MMG (...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
SHANGHAI, Mar 15 (SMM) – Nonferrous metals slid across the board today as zinc led losses with a drop of more than 1%. Nickel fell 0.8%, tin dipped 0.7% and copper edged down.The ferrous complex saw some gains today as coking coal rose 1.6%. Rebar, hot-rolled coil, and iron ore gained over 1%, and coke inched up.Copper: The SHFE 1805 contract slumped after it reached a high of 52,400 yuan/mt...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a slip to 230,000 from 231,000 last week. Actual was a slip to 226,000. Consensus for March Philly Fed Index was a drop to 23.3 from 25.8 in February. Actual was a...Read More
Turkish steel producers have extended their silence in the deep-sea scrap markets amid weak demand for their finished steel products in both the export and domestic markets, sources said on Thursday March 15.The mills were expected to book more cargoes for April, but they stepped back from the deep-sea market late last week after Section 232 import tariffs were officially signed into effect in the...Read More
SHANGHAI, Mar 15 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of 400-500 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Thursday March 15.Jinchuan nickel was offered at a discount of 100-0 yuan/mt, and Jinchuan nickel plate was offered at 103,100 yuan/mt, SMM learned.As nickel prices remained high, traders sold actively while down...Read More
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
SHANGHAI, Mar 15 (SMM) – Trading remained flat in the Shanghai zinc spot market today as sellers were unwilling to releases cargoes after zinc prices fell.The 0# mainstream zinc traded at 24,710-24,790 yuan/mt, and the 0# common brand zinc traded at a discount of 80-70 yuan/mt today, SMM learned.Shuangyan brand traded at a smaller discount of around 30 yuan/mt, and 1# zinc traded at 24,660-2...Read More
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
The latest metal markets news and price moves to start the North American day on Thursday March 15.The LME aluminium price shrugged off news of a 22,270-tonne delivery in to listed warehouses in Port Klang. But the three-month tin price was the worst performer, falling $350 to $20,800 per tonne, coming under pressure from improved availability in China. Here is how the LME base meta...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Thursday March 15.Base metals traded on the Shanghai Futures Exchange were broadly weaker during Asian morning trading on Thursday, with heavy losses seen in nickel and zinc prices, while lead was the only metal to push higher. Disappointing US data overnight and dovish speech from European...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More