Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Tuesday March 13.Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday. Zinc was the only metal to witness any gains, while nickel prices edged downward following their rally on Monday with negative sentiment stemming from a weaker do...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
Last week we attended Metal Bulletin’s...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest iss...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More
Price has weakened further as...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More
Nickel prices holding up well Since pulling...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest iss...Read More
Tin down for a 3rd week...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More
Supply: Growth forecasts raised as concentrate...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
Base metals prices on the London Metal Exchange are for the most part little changed this morning, Tuesday March 13. The exceptions are copper, where the three-month price is down by 0.4% at $6,888 per tonne, and zinc which is up by 0.6% at $3,262 per tonne.Volume has been average with 6,532 lots traded as of 07.02am London time. This follows a day of weakness on Monday when the base metals comple...Read More
Hiroki Oda has been appointed vice president, marketing and sales, for Freeport Cobalt, based in Tokyo, Japan, US-based parent company Freeport-McMoRan has announced.Oda will be responsible for strategy development, marketing and global sales for the entire Freeport Cobalt product line, and will report to Stephen Higgins, president of Freeport Cobalt.He was previously Freeport Cobalt's global busi...Read More
Despite the better-than-expected 2018 Chinese government's subsidy policy on electric vehicles (EVs), cobalt demand in local market is likely to be subdued after transitional period specified in the new policy expires in June, market participants told Metal Bulletin.As the market had expected, China's 2018 EV subsidy policy prioritizes pure EVs with a higher driving range and energy density. Yet,...Read More
Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More
Due to a change in publication time by the London Bullion Market Association (LBMA) to midnight on the day of publication, the daily LBMA gold and silver prices will be published by Metal Bulletin on the following day. The change will apply to the prices below from April 1, 2018: Gold London Morning Daily Price $ per troy oz Gold London Morning Daily price ? per troy oz Gold London Afternoon...Read More
Iron ore prices stayed above $69 per tonne cfr China on Tuesday March 13 on a lack of trading activity. Metal Bulletin's 62% Fe Iron Ore Index Today: $69.78 per tonne cfr Qingdao Daily change: down by $0.15 per tonne Month-to-date average: $74.41 per tonne Metal Bulletin's 58% Fe...Read More
The manganese ore price-trend outlook was firmly above $8 per dry metric tonne unit (dmtu) on Friday March 9, while producers reckon consumer interest will act as support, though there was a downbeat assessment among consumers. Ore producers say they are sold out through April But Chinese consumers signal otherwise Europe holds, awaits quarterly deals US markets held in rangesMajor manganese ore p...Read More