SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
Canada-based minerals supplier Cobalt 27's Electric Metals Streaming subsidiary has entered a metal purchase and sale agreement with Ramu Nickel (RNL) for cobalt and nickel produced at the Ramu mine in Papua-New Guinea, Metal Bulletin has learned.Under the agreement, Cobalt 27 will have the right to purchase 55% of RNL's share of cobalt metal produced at Ramu, and 27.5% of its nickel, for the life...Read More
Aluminium LME aluminium has failed in several attempts to...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus down...Read More
SHANGHAI, May 22 (SMM) – China invested 99.3 billion yuan in power grid projects in the first four months of this year, down 24.1% year on year, according to data from the China Electricity Council.Planned investment in 2018 by the State Grid is 7.1% higher than in 2017. Thus, SMM expects investment in power grid projects to grow the rest of the year. For editorial queries, please...Read More
SHANGHAI, May 22 (SMM) – China invested 99.3 billion yuan in power grid projects in the first four months of this year, down 24.1% year on year, according to data from the China Electricity Council.Planned investment in 2018 by the State Grid is 7.1% higher than in 2017. Thus, SMM expects investment in power grid projects to grow the rest of the year. For editorial queries, please...Read More
SHANGHAI, May 22 (SMM) – China invested 99.3 billion yuan in power grid projects in the first four months of this year, down 24.1% year on year, according to data from the China Electricity Council.Planned investment in 2018 by the State Grid is 7.1% higher than in 2017. Thus, SMM expects investment in power grid projects to grow the rest of the year. For editorial queries, please...Read More
Bulls de-risk LME copper came under...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
Cobalt prices continued to slide last week as muted buying activity and uncertainty over market direction met cheaper offers from last year's opportunistic buyers. Metal Bulletin's benchmark price assessment for low-grade cobalt was $42.85-43.85 per lb, in-warehouse, on Friday May 18, down 0.57% over the course of the week. High-grade cobalt prices settled at $42.85-44 per lb on Friday, down...Read More
SHANGHAI, May 22 (SMM) – In China's spot zinc market on Tuesday May 22, traders lowered premiums with the highest offers flat from the previous day. Downstream buyers purchased on demand as supplies were adequate and as the outlook on zinc prices remained bearish, SMM learned. Overall transaction liquidity shrank in Shanghai and stayed flat in Guangdong. The SHFE zinc...Read More
SHANGHAI, May 22 (SMM) – Spot copper was mostly offered at a discount of 90 yuan/mt to flat over the SHFE 1806 contract on Tuesday May 22 in the Shanghai market. This compared with a discount of 50 yuan/mt to a premium of 20 yuan/mt on Monday.Sellers lowered offers from Monday as thin transactions grew supplies. Offers of standard-quality copper were lowered first in the morning t...Read More
SHANGHAI, May 22 (SMM) – Copper: LME copper stuck between all moving averages with support at the 40-day moving average overnight. It rebounded and closed higher at $6,898/mt after it dipped twice as the US dollar gained and LME copper inventory registered a fourth consecutive day of gain of 1,425 mt. We see it rising to $6,870-6,930/mt today as pressure from shorts let up. Th...Read More
Bullish ILZSG data helps to...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it...Read More
SHANGHAI, May 22 (SMM) – Zinc social inventories shrank during the last weekend with fewer deliveries arriving in China’s three major markets, SMM learned. Overall zinc inventories in warehouses across Shanghai, Tianjin and Guangdong stood at 129,400 mt as of Monday May 21, down 2,100 mt from last Friday. It was also down 9,900 mt from the start of last week, according to SMM data...Read More
SHANGHAI, May 22 (SMM) – Copper: LME copper stuck between all moving averages with support at the 40-day moving average overnight. It rebounded and closed higher at $6,898/mt after it dipped twice as the US dollar gained and LME copper inventory registered a fourth consecutive day of gain of 1,425 mt. We see it rising to $6,870-6,930/mt today as pressure from shorts let up. Th...Read More
Right to be bullish We made a...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia showed only small changes this week because demand was limited by the start of the Islamic holy month of Ramadan, sources told Metal Bulletin on Tuesday May 22.Buyers preferred to postpone bookings during the holy month, which started last week.Working hours are reduced in Saudi Arabia, with Ramadan always being a slow month in...Read More
SHANGHAI, May 22 (SMM) – Copper: LME copper stuck between all moving averages with support at the 40-day moving average overnight. It rebounded and closed higher at $6,898/mt after it dipped twice as the US dollar gained and LME copper inventory registered a fourth consecutive day of gain of 1,425 mt. We see it rising to $6,870-6,930/mt today as pressure from shorts let up. Th...Read More
In this weeks analysis, we review...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More