SHANGHAI, Mar 6 (SMM) –Copper: We see an upward room in copper prices as downstream consumption continues to recover and sellers are keen to destock. LME copper is expected to trade at $6,890-6,970 mt with SHFE at 52,000-52,700 yuan/mt today.Aluminium: LME aluminium is facing increasing downward pressure but support was seen at the five-day moving average. We expect it to trade at $2,135-2,1...Read More
Sentiment has certainly turned more bullish in...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
SHANGHAI, Mar 6 (SMM) –Copper: We see an upward room in copper prices as downstream consumption continues to recover and sellers are keen to destock. LME copper is expected to trade at $6,890-6,970 mt with SHFE at 52,000-52,700 yuan/mt today.Aluminium: LME aluminium is facing increasing downward pressure but support was seen at the five-day moving average. We expect it to trade at $2,135-2,1...Read More
SHANGHAI, Mar 6 (SMM) – The purchasing managers’ index (PMI) for China’s copper downstream industries is expected to be 54.61 in March, according to SMM survey. This would compare with 38.43 in February. 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@smm.cnRead More
Prices hanging on for now, in...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
Prices falls as LME stocks jump 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
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 traded on the London Metal Exchange are mixed this morning, Tuesday March 6, with lead, zinc and tin prices down by an average of 0.5%, while copper, aluminium and nickel prices are up by an average of 0.3%.Volume has been average with 7,431 lots traded as of 07.16am London time. Precious metals prices are little changed to slightly firmer with the complex up by an average of 0.1%, wit...Read More
The changing dynamics of bauxite and alumina markets have demanded an evolution in the means of pricing them. The alumina market - and the way it is priced - has transitioned over the past 10 years. Fixed-price, long-term contracts, agreed as a percentage of the aluminium price on the London Metal Exchange, have instead transformed into contracts tied to third-party reference prices or indices, in...Read More
The three-month copper price rebounded over $7,000 per tonne for the first time this month at the close on Tuesday March 6, with the metal undergoing a short-covering rally. "Given the drop in open interest so far this week, LME copper seems to be experiencing a short-covering rally. But fresh buying needs to emerge to make the LME copper strength sustainable," Boris Mikanikrezai, Metal Bulletin a...Read More
Iron ore prices fell to $76 per tonne cfr China on Tuesday March 6 on growing port inventories.Metal Bulletin's 62% Fe Iron Ore Index Today: $76.07 per tonne cfr QingdaoDaily change: down by $0.96 per tonneMonth-to-date average: $77.71 per tonneMetal Bulletin's 58% Fe Premium Index Today: $60.56 per tonne cfr QingdaoDaily change: down by...Read More
Trading activity remained thin in the coking coal market on Tuesday March 6 despite burgeoning offers with end-users yet to come to terms with how much sellers are asking.A cargo of second-tier hard coking coal was heard to have traded around $201-202 per tonne fob Australia while a shipment of semi-hard materials changed hands at $195 per tonne fob Australia. A trader source said that "despite th...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week despite the strong demand in the UAE, sources told Metal Bulletin on Tuesday March 6.UAEHot-rolled coil (HRC) was being offered to the UAE at $640-650 per tonne cfr from China while a buyer was bidding $610-620 per tonne cfr.No price was heard from India this week.About 2,000 tonnes of HRC was booked fro...Read More
Cobalt prices rose closer to $40 per lb on Friday March 2 when suppliers raised their offers again, confident that buyers will soon have to book at higher levels on bullish expectations for electric vehicle batteries and good demand from the super-alloys sector.Metal Bulletin's benchmark low-grade cobalt price climbed to $38.80-39.85 per lb from $38.75-39.70 per lb on Wednesday February 28, while...Read More
A summary of base metals premiums across the globe for the week to Tuesday March 6.Read More
Comex copper prices recovered in morning trading on Tuesday March 6, with a bout of short-covering lifting the metal from the doldrums.Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 4.05 cents or 1.3% to $3.1685 per lb. "Copper has enjoyed a rebound since the start of the week, with (LME) prices up nearly 1%," Metal Bulletin analyst...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 6.Base metals prices on the London Metal Exchange were mostly higher the board during morning trading - with the complex beginning to recover from Monday's weakness.Here's how LME prices looked at 11:45 London time:Read our live futures report here. "The rise in zinc stocks on the LME sent jitters t...Read More
Base metals prices on the London Metal Exchange were higher across the board during morning trading on Tuesday March 6 - with the complex beginning to recover from Monday's weakness. Zinc prices hit a fresh two-month low yesterday after 78,950 tonnes were delivered into LME-approved warehouses in New Orleans. But the three-month zinc price was $26.50 higher per tonne this morning despite 14,175 to...Read More
Spanish steel import volumes rose by 4.90% year-on-year in 2017, while exports fell in the same year, according to Unesid, the country's steel association.The volume of steel imported into Spain was 9.90 million tonnes in 2017, up by 4.90% year-on-year, according to Unesid, while exports fell by 5.90% to 8.80 million tonnes.One reason for this was that local consumption increased at the same time...Read More