Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States increased their offer prices in the week ended Monday March 5 because of the higher prices being sought for China-origin material."The increase mainly related to the bullish mood of Chinese exporters, which are pushing prices higher and higher every day," a trader told Metal Bulletin.Metal Bul...Read More
CIS export billet prices continued to climb in the week ended Monday March 5, supported by strong demand in most sales outlets as well as reduced availability of material and rising scrap costs.Metal Bulletin's export CIS Billet Index was $534 per tonne fob Black Sea on March 5, up by $14 per tonne week-on-week. This took the index to its highest value since January 2013, according to Metal Bullet...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
The latest metal markets news and price moves to start the North American day on Monday March 5.The three-month zinc price is trading 1.5% lower on the London Metal Exchange, following a large stock delivery into New Orleans.On-warrant stock levels in LME-listed warehouses in New Orleans have almost doubled following the 78,950 tonne delivery. This is the largest one-day net increase for zinc stoc...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Investors are responding partially to no clear decision from Italy's election held yesterday.TJX added $0.35 to $84.00 after MKM Partners raised its target price to $94 to $87. XL Group gained $13.25 to $56.55 after receiving a takeover offer from AXA for $57.60 per share. The offer is.v...Read More
SHANGHAI, Mar 5 (SMM) – SMM assessed spot imported copper concentrate treatment charges (TCs) $4/mt lower to $70-78/mt on Friday March 2 due to higher demand and possible lower output.While some small and medium-sized smelters stocked up before the Chinese New Year holiday, traders actively sourced copper concentrate in anticipation of tighter supply. Lingbao Gold’s additiona...Read More
SHANGHAI, Mar 5 (SMM) – This is a roundup of global macro-economic news over the weekend and what is expected today.Last Friday nightThe US dollar slid following the country’s plan to impose sweeping tariffs on steel and aluminium imports. LME zinc dropped over 1% and tin edged down slightly, while SHFE tin inched up.Germany’s retail sales in January dropped 0.7% month on month a...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Monday March 5.Base metals traded on the Shanghai Futures Exchange were broadly weaker during Asian morning trading on Monday, with only nickel and tin prices managing to post slight gains. Check Metal Bulletin's live futures report here.SHFE snapshot at 10.02am Shanghai timeMost-traded SH...Read More
SHANGHAI, Mar 5 (SMM) – This is a roundup of global macro-economic news over the weekend and what is expected today.Last Friday nightThe US dollar slid following the country’s plan to impose sweeping tariffs on steel and aluminium imports. LME zinc dropped over 1% and tin edged down slightly, while SHFE tin inched up.Germany’s retail sales in January dropped 0.7% month on month a...Read More
SHANGHAI, Mar 5 (SMM) – This is a roundup of global macro-economic news over the weekend and what is expected today.Last Friday nightThe US dollar slid following the country’s plan to impose sweeping tariffs on steel and aluminium imports. LME zinc dropped over 1% and tin edged down slightly, while SHFE tin inched up.Germany’s retail sales in January dropped 0.7% month on month a...Read More
SHANGHAI, Mar 5 (SMM) - Copper: As SHFE copper stayed firm with support at the 52,000 yuan/mt level, we expect the 1805 contract to trade at 52,000-52,600 yuan/mt today, with LME copper at $6,880-6,950/mt. Spot discounts are seen slightly smaller at 180-130 yuan/mt today with the recovery of downstream consumption.Aluminium: With the US dollar index falling below the 90 level, LME aluminium i...Read More
SHANGHAI, Mar 5 (SMM) - Copper: As SHFE copper stayed firm with support at the 52,000 yuan/mt level, we expect the 1805 contract to trade at 52,000-52,600 yuan/mt today, with LME copper at $6,880-6,950/mt. Spot discounts are seen slightly smaller at 180-130 yuan/mt today with the recovery of downstream consumption.Aluminium: With the US dollar index falling below the 90 level, LME aluminium i...Read More
SHANGHAI, Mar 5 (SMM) - Copper: As SHFE copper stayed firm with support at the 52,000 yuan/mt level, we expect the 1805 contract to trade at 52,000-52,600 yuan/mt today, with LME copper at $6,880-6,950/mt. Spot discounts are seen slightly smaller at 180-130 yuan/mt today with the recovery of downstream consumption.Aluminium: With the US dollar index falling below the 90 level, LME aluminium i...Read More
Base metals traded on the London Metal Exchange are for the most part weaker this morning, Monday March 5, with the complex down by an average of 0.4%.Nickel leads on the downside with a 1.1% fall, copper prices are down by 0.4% at $6,887 per tonne and tin is the only metal where prices are higher, up by 0.2% at $21,595 per tonne.Volume has been high with 10,045 lots traded as of 07.30am London ti...Read More
The largest zinc delivery in nearly five years has swung zinc's London Metal Exchange cash/three-month spread into contango for the first time in 2018. Some 78,950 tonnes were delivered into LME-approved warehouses in New Orleans on Monday March 5 - the largest inflow since July 2013, increasing on-warrant stock levels by 94%. And it is not just the LME which has seen stocks rising; Shanghai Futur...Read More
The Atlantic alumina market will swing back to a premium over the Pacific as a result of a 50% cut to output, and subsequent force majeure announcement, from Hydro's Alunorte refinery in Brazil, according to market participants spoken to by Metal Bulletin. The tightness resultant from the cut to Hydro's production will be sufficient to see alumina trade at a premium in the Atlantic, while absolute...Read More
Lead and zinc prices on the London Metal Exchange both closed lower on Monday March 5, reflecting recent stock increases. Zinc hit a two-month low of $3,273.50 per tonne today after a massive 78,950-tonne delivery into LME-listed warehouses in New Orleans. The metal was still $59 per tonne lower at $3,296 at the 5pm London close.The metal's cash/three-month spread briefly swung back into contango...Read More
The largest zinc delivery in nearly five years has swung zinc's London Metal Exchange cash/three-month spread into contango for the first time in 2018. Some 78,950 tonnes were delivered into LME-approved warehouses in New Orleans on Monday March 5 - the largest inflow since July 2013, increasing on-warrant stock levels by 94%. And it is not just the LME which has seen stocks rising; Shanghai Futur...Read More