China's iron ore and coking coal futures largely bucked the downtrend during morning trading on Monday June 4, with seaborne prices for physical cargoes finding support at the end of last week.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,722 yuan ($580) per tonne, down 34 yuan per tonne October hot-rolled coil: 3,863 yuan per tonne, down 60 yuan per tonne Dal...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
SHANGHAI, Jun 4 (SMM) – China’s copper scrap imports are likely to remain at low levels in May as Chinese authorities imposed broad-based inspections on all scrap materials from the US from May 4, SMM believed.China imported 180,000 mt of copper scrap in April, down 36.7% year on year and 19.3% month on month, according to data from Chinese Customs. This marked a third l...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
SHANGHAI, Jun 4 (SMM) – Social inventories of zinc as of Monday June 4 increased 3,800 mt from Friday June 1 and stood at 122,100 mt across Shanghai, Guangdong and Tianjin, SMM data showed.A rise of 4,800 mt across Shanghai's warehouses and more deliveries of imported zinc during the weekend accounted for the increase.Compared to last Friday, inventories shrank 650 mt to 20,200 mt in Gua...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
Volumes traded on the CME's European aluminium futures premiums contract recorded positive figures for May, attributed to participants looking to position following the US sanctions on Rusal. The duty-paid premium contract rebounded tenfold against continued strength in duty-unpaid volumes, while the duty-unpaid futures were steadily high. In May, 1,785 lots of the Rotterdam duty-paid aluminium pr...Read More
The Comex copper price edged higher on Monday June 4 on a weaker dollar and positive fundamentals for the US economy. Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 2.7 cents or 0.9% to $3.1255 per lb. "This morning, global risk-taking appetite is positive because investors continue to digest the...Read More
The three-month copper and aluminium prices rose slightly on the London Metal Exchange in morning trading on Monday June 4. The copper price ticked $48 higher to $6,944 per tonne, with the market awaiting further developments in wage negotiations at the Escondida copper mine in Chile, which produces 5% of the world's copper supply. "Because relations between the mine's operator and the union have...Read More
The rising trend in the Chinese antimony market continued last week - tightness in concentrate supply and concerns about further production cuts while environmental inspections continue propelled prices there higher. Metal Bulletin assessed the MMTA Standard Grade II delivered duty paid antimony metal price at 52,000-52,500 yuan ($8,111-8,189) per tonne on Wednesday May 30, up 1,000 yuan from...Read More
The Chinese silicon export price dropped on weakening demand from Japanese automakers with some domestic production to resume by mid-June, while European prices followed the Chinese market down.The Chinese grade-553 silicon export price widened downward 0.8% to $1,810-1,900 per tonne on Friday June 1 from $1,840-1,900 per tonne on May 25.Although Japanese traders, the largest buyers of Chinese sil...Read More
Cobalt prices continued to fall during the second half of last week, and prices for both grades converged, amid continuing profit-taking and slower demand from consumers. Metal Bulletin assessed prices for low and high-grade cobalt metal at $42-43 per lb, in-warehouse, on Friday June 1, down 0.8% and 0.9% respectively compared with the midweek assessment. Consumers have taken a step...Read More
June Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Metal Bulletin's...Read More
Almost all cobalt production in Jiangxi province, China, has been suspended due to an ongoing environmental inspection in the region, according to market sources. China's central government has sent inspection teams to 10 provinces, including Jiangxi, to carry out one-month inspections in the region starting on Friday June 1, the Ministry of Ecology and Environment said on its website on Friday. T...Read More
Metal Bulletin is proposing a change to the publication day of its China stainless steel assessments and specifications of that for East Asia to better reflect trading fundamentals and align weekly price movements.From July 11, 2018, the China domestic grade 304 stainless steel cold-rolled coil (2mm) yuan per tonne in-warehouse price and the China domestic grade 430 2mm stainless steel cold-rolled...Read More
US scrap exporters are enjoying short-term relief from the restart of China's North American customs inspections division, but longer-term fears are emerging about stricter guidelines complicating future shipments and trade with that nation.The inspection operations of the Chinese Certification and Inspection Group (CCIC) North America will officially resume on Friday June 8."Due to the need for s...Read More
The North American division of the China National Certification and Inspection Group (CCIC) will resume inspections of scrap shipments following the end of a one-month suspension, CCIC said on Friday June 1. The CCIC's North American division will start accepting inspection applications on Friday June 8 and it takes at least five working days to arrange the date of the inspection, the group said i...Read More
There have been many adjectives used to describe the current president of the United States, both by his supporters as well as his critics. However, words like "tight-lipped, wordless, and quiet," are rarely if ever used to describe Trump. Case in point, an early morning tweet at 7:21 AM EST, one hour and nine minutes before the release of the Labor Department's monthly employment numbers. Simply...Read More