Base metals prices on the London Metal Exchange were on divergent paths at the close on Thursday January 25, with the weak dollar still the key supportive factor. The dollar index continued to crumble further; it is now down 13% since the turn of the year and hit a low of 88.43 today. "For the time being, it seems that commodity markets want to push higher, with a weaker dollar being a formidable...Read More
SHANGHAI, January 25 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in December 2017 (unit: mt): Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?The General Administration of Customs on January 25 released data of China's import and export of refined zinc and other zinc products for December 2017 (unit:mt):Read More
Comex copper prices were little changed in the US morning on Thursday January 25 after the metal experienced outsized price movements over the last couple of sessions. Copper for March settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents or 0.1% to $3.2295 per lb. The red metal saw prices tumble to a one-month low on Tuesday before rebounding on Wednesday, sugg...Read More
SHANGHAI, January 25 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in December 2017 (unit: mt): Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?While the LME nickel price is likely to go up further to $13,800-14,000/mt as stainless steel mills continued to restock ahead of the Chinese New Year holiday, SMM believes there is downside risk around March and April. This would be mainly due to the increase in Indonesian nickel ore supply and less maintenance work at nickel pig iron (NPI) plants.In addition, st...Read More
SHANGHAI, January 25 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in December 2017 (unit: mt): Read More
Iron ore prices strengthened further on Thursday January 25 though trading activity appears to have slowed down following higher fixed-price transactions concluded recently. Metal Bulletin's 62% Fe Iron Ore Index Today: $75.04 per tonne cfr Qingdao Daily change: up by $0.51 per tonne Month-to-date average: $76.31 per tonne Metal Bulletin's 58% Fe Premium...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Copper: The market is monitoring SHFE copper to see if it reaches 54,000 yuan/mt today. LME copper is expected to trade at $7,050-7,200/mt while SHFE 1803 is to trade at 53,500-54,200 yuan/mt. Spot discounts are expected at 120-70 yuan/mt.Aluminium: LME aluminium performed poorer than other base metals, testing support at $2,250/mt, and is expected to tr...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Imported refined zinc hit 100,845 mt in December, up 329.4% on a yearly basis. Total import volume stood at 674,789 mt in 2017, up 59%.Exports of refined zinc fell to 1,858 mt in December, down 12.8% on a yearly basis. Total export volume stood at 14,761 mt in 2017, down 30.9%.Imports of refined lead fell to 580 mt in December, down 18.3% on a...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Copper: The market is monitoring SHFE copper to see if it reaches 54,000 yuan/mt today. LME copper is expected to trade at $7,050-7,200/mt while SHFE 1803 is to trade at 53,500-54,200 yuan/mt. Spot discounts are expected at 120-70 yuan/mt.Aluminium: LME aluminium performed poorer than other base metals, testing support at $2,250/mt, and is expected to tr...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Guangdong: 0# zinc traded at 26,240-26,300 yuan/mt, with the premium over the Shanghai market at 30 yuan/mt. Discounts from SHFE 1803 are 10-0 yuan/mt. Downstream purchases continue with unchanging demand.Tianjin: 0# zinc ingot traded at 26,000-26,470 yuan/mt. 0# zinc of the common brand traded around 26,000-26,100 yuan/mt. Discounts from ...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Copper: The market is monitoring SHFE copper to see if it reaches 54,000 yuan/mt today. LME copper is expected to trade at $7,050-7,200/mt while SHFE 1803 is to trade at 53,500-54,200 yuan/mt. Spot discounts are expected at 120-70 yuan/mt.Aluminium: LME aluminium performed poorer than other base metals, testing support at $2,250/mt, and is expected to tr...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) has increased its production of downstream products 6.1% year on year in 2017 amid improved demand from the automotive industry and railcar producers.The company's range of downstream products includes tin plate, galvanized steel, polymer-coated steel, band, formed sections and pipes.In total, the company produced 2 million tonnes of various downstrea...Read More
Buying activity in the Iranian flat steel import market remained sluggish in the week ended Wednesday January 24, while local prices were more competitive to import.Iran's national currency - the rial (IRR) - continued to devalue against the US dollar, which made import prices less attractive compared to domestic ones.On Wednesday January 24, $1 was equivalent to IRR 36,567, while on January 17, $...Read More
The International Tin Research Institute (ITRI) will change its name to International Tin Association Ltd on February 1 to reflect its evolution toward more diverse activities including sustainability, it said. Established in 1932 in London, ITRI for its first 70 years brought together tin producing governments and producers to focus on the promotion of tin and the research and...Read More
Comex copper prices were little changed in the US morning on Thursday January 25 after the metal experienced outsized price movements over the last couple of sessions. Copper for March settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents or 0.1% to $3.2295 per lb. The red metal saw prices tumble to a one-month low on Tuesday before rebounding on Wednesday, sugg...Read More
Freeport-McMoRan is in talks with a group led by the Indonesian government to negotiate and create documentation for the divestment of a stake in its Grasberg project interests, the company said.The parties have a mutual objective of completing negotiations and the required documentation during the first half of 2018, Freeport added.Freeport operates the Grasberg copper and gold mine through its 9...Read More
The latest metal markets news and price moves to start the North American day on Thursday January 25.Base metals prices on the London Metal Exchange were little changed during morning trading, while most metals held on to Wednesday's rally.The weak dollar remains a key supporting factor for base metals prices. It fell to a low of 88.81 this morning, its lowest since 2014.Here is how the LME base m...Read More
Base metals prices on the London Metal Exchange were little changed during morning trading on Thursday January 25, while most metals held on to Wednesday's rally. The weak dollar remains a key supporting factor for base metals prices. It fell to a low of 88.81 this morning, its lowest since 2014. "Every few years it seems an event takes place that upturns current market logic and changes the entir...Read More