SHANGHAI, May 3 (SMM) – Nonferrous metals futures mostly inched up except for zinc on Thursday May 3. SHFE aluminium rose nearly 1%, while copper, lead, nickel, and tin went up slightly.The ferrous complex also rose for the most part. Coke gained over 1.5%, coking coal and iron ore grew more than 1%. Hot-rolled coil fell nearly 1%, and rebar edged down.Aluminium: As LME aluminium g...Read More
SHANGHAI, May 3 (SMM) –Copper: As the US dollar index rebounded to a fresh high, LME copper traded rangebound overnight and SHFE copper’s trading range fell slightly. We expect LME copper to trade at $6,770-6,820/mt today with the SHFE 1806 contract at 50,800-51,200 yuan/mt. In the physical market, offers are stabilising as futures consolidate. Spot discounts are seen at 60-20 yuan/mt....Read More
SHANGHAI, May 3 (SMM) – Spot copper in the Shanghai market was offered at a discount of 50-10 yuan/mt against the SHFE 1805 contract on the morning of Thursday May 3, SMM learned.This is down from a discount of 20 yuan/mt to a premium of 20 yuan/mt in the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our re...Read More
SHANGHAI, May 3 (SMM) –Copper: As the US dollar index rebounded to a fresh high, LME copper traded rangebound overnight and SHFE copper’s trading range fell slightly. We expect LME copper to trade at $6,770-6,820/mt today with the SHFE 1806 contract at 50,800-51,200 yuan/mt. In the physical market, offers are stabilising as futures consolidate. Spot discounts are seen at 60-20 yuan/mt....Read More
Export prices for pig iron from the Commonwealth of Independent States have weakened again because of low demand in key markets, sources have told Metal Bulletin.Trading activity was also affected by May Day public holidays in Europe and the CIS region.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region was $365-385 per tonne fob Black Sea on Thursday May 3, na...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc breaking below $3,000 per tonne and diving to its lowest point since August 2017. Zinc kept steady early in the day but took a 1.3% drop prior to the close after spending much of the week consolidating around the $3,050-$3,100-per-tonne mark.A delivery of more than 60,000 tonnes was ship...Read More
Nyrstar's earnings before interest, taxes, depreciation, and amortization (Ebitda) for the first quarter of 2018 fell by ?,?3 million ($3.6 billion) or 5.5% year on year to ?,?54 million, the company said on Thursday May 3. Despite benefitting from a 23% increase in zinc prices, after London Metal Exchange prices rallied to a high of $3,259 per tonne, and ramp-up of the Middle Tennessee Mines, Nyr...Read More
European spot prices for molybdic oxide and ferro-molybdenum dropped this week while May public holidays took place across much of the continent but trading activity is likely to pick back up in the near term, sources said.Consumers in the steel sector are due to issue tenders for prompt delivery, which should provide near-term direction for spot prices, they said. Prices have been generally drift...Read More
The latest metal markets news and price moves to start the North American day on Thursday May 3. Base metals on the London Metal Exchange were broadly positive during morning trading, with copper leading the complex's blanket gains after climbing 1.1%."The base metals have been looking weak, but some dip-buying has emerged today, with the likes of nickel, aluminium and copper seeing buying over th...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday May 3. Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday May 3. Base metal prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday May 3 amid continued strength in the dollar, with only alu...Read More
Chris Eger will step down from his role as chief financial officer with miner and metals supplier Nyrstar in the summer, the company said on Thursday May 3.Eger has been at Nyrstar for two-and-a-half years since joining the company from Trafigura."Chris has communicated to the board over recent months that he has decided to...Read More
Bradley Levitan and William Copp have left London Metal Exchange category I member INTL FCStone, sources said. Copp has joined rival trading firm ED&F Man Capital Markets, according to his LinkedIn page, with sources saying Levitan will also join him...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc breaking below $3,000 per tonne and diving to its lowest point since August 2017. Zinc kept steady early in the day but took a 1.3% drop prior to the close after spending much of the week consolidating around the $3,050-$3,100-per-tonne mark.A delivery of more than 60,000 tonnes was ship...Read More
Bradley Levitan and William Copp have left London Metal Exchange category I member INTL FCStone, sources said. Copp has joined rival trading firm ED&F Man Capital Markets, according to his LinkedIn page, with sources saying Levitan will also join him...Read More
Comex copper prices were spurred higher during the morning session on Thursday May 3 after the US Federal Reserve decided to maintain the Fed Funds rate, pressuring the dollar lower. Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 2.35 cents or 0.8% to $3.0920 per oz. "The blip higher in the LME copper price this morning is encouraging though buyers need...Read More
The Turkish deep-sea scrap markets have been quiet on Thursday May 3 while steel mills in the country and their scrap suppliers continued to negotiate prices for cargoes to be delivered in May.The steel producers have so far booked around 20 deep-sea cargoes for May, and have seen an uptick in offer prices. They then went quiet in the deep-sea markets at the end of last week.Current offer prices f...Read More
Bradley Levitan and William Copp have left London Metal Exchange category I member INTL FCStone, sources said. Copp has joined rival trading firm ED&F Man Capital Markets, according to his LinkedIn page, with sources saying Levitan will also join him...Read More
Comex copper prices were spurred higher during the morning session on Thursday May 3 after the US Federal Reserve decided to maintain the Fed Funds rate, pressuring the dollar lower. Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 2.35 cents or 0.8% to $3.0920 per oz. "The blip higher in the LME copper price this morning is encouraging though buyers need...Read More
Summary of Glencore's production results for the first quarter of 2018(own-sourced output volume, year-on-year % change).Copper 345,400 tonnes, +7% Zinc 242,700 tonnes, -13% Lead...Read More
The latest metal markets news and price moves to start the North American day on Thursday May 3. Base metals on the London Metal Exchange were broadly positive during morning trading, with copper leading the complex's blanket gains after climbing 1.1%."The base metals have been looking weak, but some dip-buying has emerged today, with the likes of nickel, aluminium and copper seeing buying over th...Read More