Base metals on the London Metal Exchange were broadly lower during morning trading on Friday June 8, with lead, nickel and copper prices edging lower."After copper achieved a 4 1/2 -year high of $7,350 per tonne yesterday, profit-taking ensued in late trading. Weak Asian stock markets this morning are helping drive the copper price down to a good $7,200 per tonne," Commerzbank Research noted. The...Read More
SHANGHAI, Jun 8 (SMM) – Social inventories of zinc as of Friday June 8 increased 12,900 mt from Monday June 4 and stood at 131,300 mt across Shanghai, Guangdong and Tianjin, SMM data showed.Inventory in Shanghai rose 17,600 mt this week due to an inflow of imported zinc and sluggish downstream demand on high zinc prices. Inventory inched up 300 mt during the week in Guangdong, but declined 5...Read More
SHANGHAI, Jun 8 (SMM) –Copper: Copper prices slowed their upward trends overnight. LME copper came off from highs and hit the highest in four and a half years. The SHFE 1808 contract also lost some previous gains as some longs took profit and left. We remain bullish on copper prices in the short term. LME copper is likely to trade at $7,250-7,300/mt today; the SHFE 1808 contract is likely to...Read More
China's domestic hot-rolled coil prices were mixed on Friday June 8, with those in the east region easing slightly while the market in north china picked up some strength.Domestic Eastern China (Shanghai): 4,300-4,320 yuan ($673-676) per tonne, narrowed downward by 10 yuan per tonne Northern China (Tianjin): 4,220-4,240 yuan per tonne, up 10 yuan per tonne A softening of the futures market led to...Read More
Copper stocks in Shanghai Futures Exchange-approved warehouses fell to 256,030 tonnes in the week to Friday June 8, down 6% or 16,224 tonnes from last week's 272,254 tonnes. This week, Zhongchu Lingang recorded the most copper stock withdrawals, with 5,478 tonnes leaving its sheds. "The decline in SHFE copper stocks was mainly due to the pick-up in restocking demand from downstream consumers," Xia...Read More
The following Metal Bulletin minor metals prices changed on Friday June 8:Minor metals Antimony MB free market regulus, $/tonne: $8,200-8,450 per tonne from $8,200-8,500 Antimony MMTA standard grade II, $/tonne: $8,150-8,400 per tonne from $8,150-8,450 Arsenic MB free market, $/Ib: $1.02-1.22 per Ib from $1.10-1.30 Bismuth MB China domestic, yuan/tonne: 61,000-63,000 yuan...Read More
Three-month base metals prices on the London Metal Exchange consolidated on the morning of Friday June 8 amid concerns that the latest trade figures from China could stoke further trade tensions. This as world leaders gather in Canada for the 44th G7 Summit, where likely topics for discussion include global economic issues such as trade relations and tariffs.The three-month aluminium price on the...Read More
Base prices for flat stainless steel products in Europe widened downward this week with buyers seeking to avoid bearing the full burden of June's higher alloy surcharges, Metal Bulletin has heard.Feedback on demand has been mixed in recent weeks, with some sources starting to see consumption slow down ahead of the summer holiday period, while others reported robust buying interest.Indeed, one sour...Read More
China's domestic stainless steel prices rose further over the past week to reach their highest so far this year amid strong demand.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,800-16,100 yuan ($2,471-2,518) per tonne including VAT for the week ended Thursday June 7, up 400-600 yuan per tonne from a week earlier. Environmental...Read More
Prices for containerized shredded scrap imports into India increased while market conditions improved toward the end of the week, market sources told Metal Bulletin on Friday June 8.Metal Bulletin's weekly index for containerized imports of shredded scrap into India moved up to $379.94 per tonne cfr Nhava Sheva on June 8, from $374.03 per tonne cfr Nhava Sheva on June 1. Many market participants r...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday June 8:Aluminium scrap Floated Frag: ?,?1,280-1,320 per tonne from ?,?1,270-1,310...Read More
Lead Mcx – Lead Sell Call b47, given at price 170.80 CMP Made 168.35. Low risk taker book 2.45 x 2 lot = 4.90 Points / Rs 24500TIPS ID b47 : Mcx Lead HNI POS Call - SELL Lead at CMP 170.80 Add more at 174.50 with SL Above price 177.90 for Target 165 - 163. RISK Taker trade 2 lots Read More
Nickel Commodity Call – Nickel SELL Call b49, given at price 1053 Achieved 1st 1042 & 2nd Target 1035. Made 1034. Total profit of 18 Points per lotCALL ID b49 : Nickel Carry - SELL Nickel at CMP 1053 with SL Above price 1063.8 for Target 1042 - 1035 Read More
Nickel Carry – SELL Nickel at CMP 1053 with SL Above price 1063.8 for Target 1042 – 1035 Read More
MCX LEAD HNI POSITIONAL CALLMcx Lead HNI POS Call – SELL Lead at CMP 170.80 Add more at 174.50 with SL Above price 177.90 for Target 165 – 163. RISK Taker trade 2 lots Read More
Gold has been holding steady and trading above $1,300 per ounce (basis the most active August 2018 Comex contract) as it awaits the outcome of three events which most certainly have the potential to shape the future direction of gold pricing, as well as the financial markets as a whole.The Group of SevenBeginning on Friday of this week and continuing over the next two weeks, three critical events...Read More
ZincMini Mcx – ZincMini BUY Call b2b, given at price 214.30 (214.60+214), Achieved 1st Target 215.70. Made 215.75. Total profit of 1.4 x 2 lot = 2.8 PointsTIPS ID b2b : Mcx ZincMini Call - BUY ZincMini at CMP 214.60 Add more at price 214 for Target 215.70 - 216.40 with Small SL below price 213.70 Read More
TODAY LEAD TRADING TIPSLead Trading – Mcx Lead Buy Carry Call b1f, given at price 169.30 Achieved 1st 170.90 & 2nd Target 171.50. CMP Made 171.60. Total profit of 2.2 Points per lotTIPS ID b1f : Mcx Lead Tomorrow call - BUY Lead today at CMP 169.30 for Tomorrow Target 170.90 - 171.50 with SL below price 168.10 Read More
MCX ZINC TRADINGMcx Zinc Trading Call – ZincMini Buy Call 2b2, given at 214.30 (214.60+214), CMP 215.25. Low risk taker book 0.95 x 2 lot = 1.90 Points at CMPb2b : Mcx ZincMini Call - BUY ZincMini at CMP 214.60 Add more at price 214 for Target 215.70 - 216.40 with Small SL below price 213.70 Read More
(Kitco News) - This past week saw a rollercoaster of activity as stocks tumbled and rallied back in response to Italy’s on-and-off again political turmoil.Meanwhile, tensions with North Korea have stalled as the world awaits the outcome of the highly anticipated June 12th summit between U.S. President Donald Trump and North Korean leader Kim Jong-un.While geopolitical fears abated, economic...Read More