SHANGHAI, May 24 (SMM) – Environmental taxes are likely to drive up production costs for nonferrous metals, given the high levels of emissions in production, said Huang Fuping, Secretary General of the Guangxi Environmental Industry Association. As the Chinese government steps up environmental protection, environmental taxes will become commonplace, he added.At the SMM Le...Read More
SHANGHAI, May 24 (SMM) – Copper: Prices of copper weakened last night as US President Donald Trump's remarks grew US-Sino trade uncertainties. LME copper lost the gains that it made during the past three days and fell back to all moving averages. The SHFE 1807 contact also fell to the 10-day moving average. We expect LME copper to trade at $6,800-6,880/mt today with the SHFE contrac...Read More
The Indian government has launched a disputes proceeding at the World Trade Organisation (WTO), protesting the United States' imposition of duties of 25% on imports of India-made steel and 10% duties on aluminium products.New Delhi argues that the tariffs, imposed on March 23 by the Trump administration to protect and expand American aluminium and steel production, break the WTO's general agreemen...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
International steel trading group Stemcor has appointed Martyn Konig as non-executive chairman effective immediately, it said on Wednesday May 23.Konig, who is also non-executive chairman of Belgian-listed zinc smelting group Nyrstar, replaces Scott MacDonald, who had been Stemcor chairman...Read More
Planned deliveries of stainless steel by Bahrain's United Stainless Steel Co (USCO) after a factory fire will not be disrupted and the company does not plan to declare force majeure, a spokesman for plant managing entity Chromiumsteel told Metal Bulletin on Thursday May 24.A fire halted operations at USCO's stainless steel re-rolling mill in Salman Industrial City in Al Hidd, northern Bahrain, ear...Read More
China's hot-rolled coil futures bucked the trend during morning trading on Thursday May 24, ending the session higher while other contracts continued to soften.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,529 ($553) per tonne, down 7 per tonne October hot-rolled coil: 3,729 yuan per tonne, up 18 per tonne Dalian Commodity Exchange September iron ore: 456 yuan...Read More
Stainless steel prices in East Asia fell slightly over the past week amid persistently low buying interest, although a few mills were still reluctant to lower their offers due to a spike in the nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,170-2,290 per tonne cif East Asian ports for the week ended Wednesday May 23, down $20-40...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
UC Rusal has warned shareholders that the US Treasury's sanctions on the company may hamper its cashflow and its ability to obtain financing, according to a statement released on Thursday May 24.A separate announcement was also released on Thursday announcing the resignation of the company's chief executive officer and seven directors. The Russian aluminium company, which accounts for 7% of global...Read More
The Indian government has launched a disputes proceeding at the World Trade Organisation (WTO), protesting the United States' imposition of duties of 25% on imports of India-made steel and 10% duties on aluminium products.New Delhi argues that the tariffs, imposed on March 23 by the Trump administration to protect and expand American aluminium and steel production, break the WTO's general agreemen...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
Nickel Call – SELL Nickel at CMP 996 for Small target tomorrow 987 – 981 with Small SL Above price 1002.60AFTER POST CONTENT Read More
FREE NICKEL CALL TODAYFree Nickel Call – Nickel SELL Call 9a6 Advised at price 997.30 CMP 990.60. Low risk taker book 6.7 x 2 lot = 13.4 Points at CMP. RISK taker Hold as per call9a6 : NICKEL Hold Call - Only Risk taker SELL Nickel at CMP 997.30 for Target 986 - 980 with SL Above price 1007.10AFTER POST CONTENT Read More
NICKEL Hold Call – Only Risk taker SELL Nickel at CMP 997.30 for Target 986 – 980 with SL Above price 1007.10AFTER POST CONTENT Read More
Copper Option Call – BUY Copper 465 CE between 8.40 – 8.80 (CMP 8.8) with SL below 6 and for Target 11 to 12AFTER POST CONTENT Read More
This morning's release of the minutes from last month's FOMC meeting provided some upside momentum to move gold off this morning's lows. After trading to a high of $1,298 in overseas trading last night, traders bid prices lower in morning trading taking gold to $1,287 per ounce. This low remained up until the release of the minutes which indicated a less aggressive Fed then had been factored into...Read More
Today Zinc Tips Live – Zinc BUY Call 99d given at price 205.80 Achieved 2nd Target 207.20. CMP 207.25. Total profit of 1.4 Points per lotTIPS ID 99d : Zinc Calls - BUY Zinc at CMP 205.80 for Target 206.60 - 207.20 with SL below price 205AFTER POST CONTENT Read More
NICKEL TODAY TIPSMcx Nickel Today Tips – Nickel BUY Call 998 Given at price 993.10 (996.20+990) (SL Suggested BELOW Price 985.40. Return from 985.20) CMP 997.20. Total 4.1 x 2 lot = 8.20 Points Profit those who HoldingTIPS ID 998 : Nickel Today - BUY Nickel between 996.1 - 996.80 (CMP 996.20), Add more at price 990 with SL 985.40 for Target 1004.0 - 1009.0AFTER POST CONTENT Read More
MCX ZINC TARGET LEVELZinc Target Level – Zinc BUY Call 99d given at price 205.80 Achieved 1st Target 206.60. CMP 206.90. Total 1.10 Points per lot profitTIPS ID 99d : Zinc Calls - BUY Zinc at CMP 205.80 for Target 206.60 - 207.20 with SL below price 205AFTER POST CONTENT Read More