SHANGHAI, May 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell after it rose to a five-month high of 94.2 last night. It lost some gains after the US Federal Reserve released its meeting minutes overnight and disclosed that interest rates would not be raised at a faster-than-expected rate. As su...Read More
SHANGHAI, May 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell after it rose to a five-month high of 94.2 last night. It lost some gains after the US Federal Reserve released its meeting minutes overnight and disclosed that interest rates would not be raised at a faster-than-expected rate. As su...Read More
SHANGHAI, May 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell after it rose to a five-month high of 94.2 last night. It lost some gains after the US Federal Reserve released its meeting minutes overnight and disclosed that interest rates would not be raised at a faster-than-expected rate. As su...Read More
The latest news and price moves to start the Asian day on Thursday May 24.Lead prices on the London Metal Exchange held firm at the close of trading on Wednesday May 23, while the three-month copper contract fell by 1.6% amid a fresh 2018 high for the United States dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:US imports of aluminiu...Read More
The latest news and price moves to start the Asian day on Thursday May 24.Lead prices on the London Metal Exchange held firm at the close of trading on Wednesday May 23, while the three-month copper contract fell by 1.6% amid a fresh 2018 high for the United States dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:US imports of aluminiu...Read More
The London Metal Exchange is expected to publish its white paper on responsible sourcing of metal by around the start of July and is planning to publicly name companies that do not formally respond to a producer survey on standards by the end of the year, the exchange's chief executive officer said. Matthew Chamberlain told Metal Bulletin that a white paper of the results to date is being shared w...Read More
Base metals on the London Metal Exchange were broadly higher at the close of trading on Thursday May 24, with nickel prices leading the complex 1.6% higher while tin prices edge lower.Rallying to a daily high of $14,900 per tonne, nickel's three-month price experienced a late-afternoon surge, gaining more than $200 per tonne in the LME's kerb trading session. The metal's declining inventory p...Read More
Chinese customs agents have impounded 16,000 tonnes of lead concentrates they allege is secondary waste material shipped into the country by Swiss miner-trader Glencore, sources with knowledge of the matter told Metal Bulletin. The material has been classified by Chinese customs as "lead-rich slag", a type of solid waste prohibited from entering the country, sources said. A Glencore spokesman cont...Read More
A sharp increase in manganese ore market liquidity over the past two weeks reflects renewed consumer interest after price falls and fresh position-taking by traders, according to market participants. Metal Bulletin's 44% manganese ore index, cif Tianjin dropped 84 cents week on week to $6.55 per dry metric tonne unit (dmtu) on Friday May 18. Similarly, Metal Bulletin's 37% manganese ore...Read More
Chinese customs agents have impounded 16,000 tonnes of lead concentrates they allege is secondary waste material shipped into the country by Swiss miner-trader Glencore, sources with knowledge of the matter told Metal Bulletin. The material has been classified by Chinese customs as "lead-rich slag", a type of solid waste prohibited from entering the country, sources said. A Glencore spokesman cont...Read More
A sharp increase in manganese ore market liquidity over the past two weeks reflects renewed consumer interest after price falls and fresh position-taking by traders, according to market participants. Metal Bulletin's 44% manganese ore index, cif Tianjin dropped 84 cents week on week to $6.55 per dry metric tonne unit (dmtu) on Friday May 18. Similarly, Metal Bulletin's 37% manganese ore...Read More
The London Metal Exchange is expected to publish its white paper on responsible sourcing of metal by around the start of July and is planning to publicly name companies that do not formally respond to a producer survey on standards by the end of the year, the exchange's chief executive officer said. Matthew Chamberlain told Metal Bulletin that a white paper of the results to date is being shared w...Read More
A freezing order on copper-cobalt assets held by Katanga Mining in the Democratic Republic of Congo (DRC) has not so far had any material effect on the Glencore subsidiary's operations, it said last week.On April 27, Glencore said that Ventora Development Sasu - its former partner in the DRC, which is associated with Israeli businessman Dan Gertler - was suing it for $2.28 billion in unpaid royalt...Read More
Turkish steel producers broke their silence in the deep-sea scrap markets on Thursday May 24 with a fresh transaction for material from the Baltic Sea.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 10,000 tonnes of HMS 1&2 (80:20), 9,500 tonnes of shredded and 5,000 tonnes of plate and structural scrap (P&S) at an average price of $347.50 per tonne cfr.Due to the c...Read More
Chinese customs agents have impounded 16,000 tonnes of lead concentrates they allege is secondary waste material shipped into the country by Swiss miner-trader Glencore, sources with knowledge of the matter told Metal Bulletin. The material has been classified by Chinese customs as "lead-rich slag", a type of solid waste prohibited from entering the country, sources said. A Glencore spokesman cont...Read More
Chinese demand for iron ore is expected to be stable this year, with steel producers prioritizing capacity cuts in line with government directives, according to Liu Zhenjiang, secretary general of the China Iron & Steel Association (Cisa). China's gross domestic product growth of 6.8% in the first quarter of the year augured well for iron ore demand for the rest of the year, Zhenjiang told delegat...Read More
Comex copper prices bounced-back Thursday May 24 vmorning in the US amid a weaker dollar, which is lending support after a heavy sell-off on Wednesday.Copper for July settlement on the Comex division of the New York Mercantile Exchange recovered 1.2 cents or 0.4% to $3.0825 per lb. "Although copper's fundamentals are supportive over the long term, we see only limited upward pressure in the re...Read More
Three-month base metals prices on the London Metal Exchange were once again mixed on the morning of Thursday May 24, with copper up 0.4% at $6,864 per tonne, while aluminium, nickel and zinc prices were off between 0.2% and 0.5%.Volume on the LME has been above average, with 7,338 lots traded as of 7.40 am London time. This follows a general day of weakness on Wednesday that saw the complex down a...Read More
A freezing order on copper-cobalt assets held by Katanga Mining in the Democratic Republic of Congo (DRC) has not so far had any material effect on the Glencore subsidiary's operations, it said last week.On April 27, Glencore said that Ventora Development Sasu - its former partner in the DRC, which is associated with Israeli businessman Dan Gertler - was suing it for $2.28 billion in unpaid royalt...Read More
China's domestic hot-rolled coil prices stopped falling on Thursday May 24 amid gains in the futures market and a pick-up in trading activity. Domestic Eastern China (Shanghai): 4,180-4,200 yuan ($655-658) per tonne, unchanged Northern China (Tianjin): 4,060-4,080 yuan per tonne, unchanged HRC futures regained some strength during the day, which stimulated buying interest. Traders maintained their...Read More