SHANGHAI, Feb 26 (SMM) – China’s planned infrastructure investment and construction projects in 2018 are set to give firm support to metals, SMM learned. Efforts put into transportation and water conservancy by local governments are set to spur growth in commodities consumption, especially of steel and cement, according to Jiang Xingchun, director of Soochow Futures Study. He add...Read More
SHANGHAI, Feb 26 (SMM) – China’s planned infrastructure investment and construction projects in 2018 are set to give firm support to metals, SMM learned. Efforts put into transportation and water conservancy by local governments are set to spur growth in commodities consumption, especially of steel and cement, according to Jiang Xingchun, director of Soochow Futures Study. He add...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ? China releases data on its import and export of copper in January 2018 (Unit: mt): Read More
SHANGHAI, February 26 (SMM)? 1/4 ? China releases data on its import and export of zinc in January 2018 (Unit: mt):Read More
SHANGHAI, Feb 26 (SMM) - Copper: Copper is set to remain firm in the medium term as a rebound in downstream consumption provides support to the physical market and as imports of copper scrap face restrictions. We expect LME copper to trade at $7,080-7,150/mt and SHFE copper to trade at 53,000-53,600 yuan/mt today. In the physical market, smaller spot discounts are seen at...Read More
SHANGHAI, Feb 26 (SMM) - Copper: Copper is set to remain firm in the medium term as a rebound in downstream consumption provides support to the physical market and as imports of copper scrap face restrictions. We expect LME copper to trade at $7,080-7,150/mt and SHFE copper to trade at 53,000-53,600 yuan/mt today. In the physical market, smaller spot discounts are seen at...Read More
SHANGHAI, Feb 26 (SMM) - Copper: Copper is set to remain firm in the medium term as a rebound in downstream consumption provides support to the physical market and as imports of copper scrap face restrictions. We expect LME copper to trade at $7,080-7,150/mt and SHFE copper to trade at 53,000-53,600 yuan/mt today. In the physical market, smaller spot discounts are seen at...Read More
SHANGHAI, February 26 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in January 2018 (unit: mt):Read More
SHANGHAI, February 26 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in January 2018 (unit: mt):Read More
SHANGHAI, February 26 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in January 2018 (unit: mt):Read More
First impressions are that we are off to a bullish start to the week, with the base metals prices on the London Metal Exchange up by an average of 0.6% this morning, Monday February 26. Nickel and lead prices lead the way with gains of 0.9%, followed by zinc and copper prices that are up by 0.6%, with the latter at $7,155 per tonne, while tin and aluminium prices are up 0.4% and 0.3% respectively....Read More
The price difference between lead and zinc on the London Metal Exchange has moved to its widest in over 10 years, with lead lagging significantly behind. At the close on Thursday February 22, the three-month zinc price closed $960.50 per tonne higher than lead. But when the spread - or switch - last moved to over $900 in early 2007, lead staged an incredible fightback and ended up overtaking its s...Read More
Lead prices on the London Metal Exchange continued to strengthen and closed 1.4% higher at 5pm London time on Monday February 26, with its cash/three-month spread moving into backwardation. "LME lead has rebounded well... So far, sellers have failed to take its below $2,500 per tonne; buyers now have the chance to push it higher," Metal Bulletin analyst Andy Farida said. "Since the base metals are...Read More
The price difference between lead and zinc on the London Metal Exchange has moved to its widest in over 10 years, with lead lagging significantly behind. At the close on Thursday February 22, the three-month zinc price closed $960.50 per tonne higher than lead. But when the spread - or switch - last moved to over $900 in early 2007, lead staged an incredible fightback and ended up overtaking its s...Read More
Comex copper prices softened in the US morning on Monday February 26 amid a dollar reversal, although market action should be more volatile this week with Chinese investors back from their Lunar New Year holidays. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.95 cents or 0.6% to $3.1930 per lb. "The bulls now have a platform...Read More
Export prices for hot-rolled coil (HRC) and cold-rolled coil (CRC) from Latin America have risen, with Brazilian producers seizing the opportunity presented to them by high global prices and a lack of offers from China.Metal Bulletin's weekly assessment of Latin America's HRC export price reached $630-635 per tonne fob on Friday February 23, up from $570-580 per tonne fob a week earlier, while the...Read More
Turkish domestic scrap prices have remained largely stable over the past week, because most of the steel producers in the country have kept their purchasing prices unchanged.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,230-1,400 ($324-369) per tonne delivered on Monday February 26, widening slightly from last week's TRY1,260-1,390 per tonne.The sligh...Read More
The sale of Rio Tinto's stake in the giant Grasberg mine to the government of Indonesia would be an ideal outcome for Freeport-McMoRan, the company's top executive said.Such a sale would reduce the size of the stake in its PT-Freeport Indonesia subsidiary (PT-FI) that Freeport has to sell to the government - a separate negotiation that is currently being discussed, Richard Adkerson said, spea...Read More
Freeport-McMoRan is considering ways it could develop the Kisanfu cobalt project in the Democratic Republic of Congo following the sharp rise in prices of the raw material, the company's top executive said. Since Freeport opted to reassess its 2016 decision to sell Kisanfu, the miner started to consider alternatives - including taking a joint venture partner for the project, according to company p...Read More
Comex copper prices softened in the US morning on Monday February 26 amid a dollar reversal, although market action should be more volatile this week with Chinese investors back from their Lunar New Year holidays. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.95 cents or 0.6% to $3.1930 per lb. "The bulls now have a platform...Read More