The latest metal markets news and price moves to start the North American day on Friday January 26.Base metals prices on the London Metal Exchange were stable during morning trading on Friday January 26, with recent gains well supported by the weak dollar.Here is how the LME base metals complex looked at 12.18pm London time:For a snapshot of exchange news, check out our live futures report.China's...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Friday January 26.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Friday after profit-taking emerged following a strong performance across the complex on Thursday.Check Metal Bulletin's live futures report here.LME snapshot at 01.53am L...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets in the week from Monday January 22 to Friday January 26.Base metalsSingaporean trading house Kyen Resources is opening a London office to expand its operations into Europe and will trade base metals, starting with aluminium and concentrates.Freeport-McMoRan reported a strong finish to 2017, with net incom...Read More
Base metals prices on the London Metal Exchange are mixed this morning, Friday January 26, with the complex up by an average of 0.2%.Three-month nickel prices ($13,800 per tonne) are strongest with a 0.6% gain, lead prices ($2,599 per tonne) and copper prices ($7,143 per tonne) are up by 0.5% and 0.4% respectively, while aluminium, zinc and tin are down between 0.1% and 0.2%. This week has seen co...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Nonferrous futures retreated today for the most part, except for a 2% rise in nickel prices. SHFE lead and aluminium dropped about 1%. Tin, copper and zinc all edged down slightly.The ferrous complex was mixed with coke registering a small rise. Hot-rolled coil finished flat while iron ore dropped 1.5% and coking coal slipped 0.5%. Rebar also closed lower.Copper: SHFE...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Nonferrous futures retreated today for the most part, except for a 2% rise in nickel prices. SHFE lead and aluminium dropped about 1%. Tin, copper and zinc all edged down slightly.The ferrous complex was mixed with coke registering a small rise. Hot-rolled coil finished flat while iron ore dropped 1.5% and coking coal slipped 0.5%. Rebar also closed lower.Copper: SHFE...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Nonferrous futures retreated today for the most part, except for a 2% rise in nickel prices. SHFE lead and aluminium dropped about 1%. Tin, copper and zinc all edged down slightly.The ferrous complex was mixed with coke registering a small rise. Hot-rolled coil finished flat while iron ore dropped 1.5% and coking coal slipped 0.5%. Rebar also closed lower.Copper: SHFE...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. U.S. equity indices were virtually unchanged following release of U.S. economic news at 8:30 AM EST. Consensus for fourth quarter real GDP was annual growth at 2.9%. Actual was 2.6%. Consensus for December Durable Goods Orders was an increase of 0.8% versus a gain of 1.3% in November. Act...Read More
SHANGHAI, Jan 26 (SMM) – The likely rebound of US dollar poses the biggest downside risk for commodities in the short term, according to Xu Maili, commodities research director at Guangda Futures.“Funds are currently holding quite a lot of long bets, I think the need to cover their positions once the US dollar becomes stronger would be intense,” Xu said in an interview with SMM.W...Read More
SHANGHAI, Jan 26 (SMM) – The likely rebound of US dollar poses the biggest downside risk for commodities in the short term, according to Xu Maili, commodities research director at Guangda Futures.“Funds are currently holding quite a lot of long bets, I think the need to cover their positions once the US dollar becomes stronger would be intense,” Xu said in an interview with SMM.W...Read More
SHANGHAI, Jan 26 (SMM) – The likely rebound of US dollar poses the biggest downside risk for commodities in the short term, according to Xu Maili, commodities research director at Guangda Futures.“Funds are currently holding quite a lot of long bets, I think the need to cover their positions once the US dollar becomes stronger would be intense,” Xu said in an interview with SMM.W...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?China’s nickel ore port inventory continued its decline to 7.62 million wet mt, as at January 26, down 430,000 mt on a weekly basis. This is about 62,300 mt for metal content, down 3,100 mt on a weekly basis.For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please emai...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Treatment charges (TC) of zinc concentrate were low in January and is expected to remain low in February due to a shorter supply of zinc ores, according to SMM research.In Inner Mongolia and Shaanxi provinces, TC stood at 3,500 yuan/mt of metal content while it was below 3,500 yuan/mt of metal content in Guangxi and Yunnan.SMM predicts TC will remain low...Read More
Nickel prices on the London Metal Exchange have climbed 10% since the start of 2018 - with the dollar the main supporting factor of the rise, the spotlight is being shone on the nickel price's extreme volatility. On Thursday January 25, nickel closed on the LME in positive territory for the sixth consecutive trading day and was trading at a two-and-a-half-year high of $13,915 per tonne. The last t...Read More
Base metals prices on the London Metal Exchange closed the week on divergent paths, with most metals on a strong footing after a week of intense rallies.The three-month tin price hit its highest since November 2016 after it hit a high of $21,895 per tonne - record low stocks and restocking ahead of Lunar New Year (mid-February) have kept tin prices well supported."With barely 1,800 tonnes of LME s...Read More
Nickel prices on the London Metal Exchange have climbed 10% since the start of 2018 - with the dollar the main supporting factor of the rise, the spotlight is being shone on the nickel price's extreme volatility. On Thursday January 25, nickel closed on the LME in positive territory for the sixth consecutive trading day and was trading at a two-and-a-half-year high of $13,915 per tonne. The last t...Read More
Iron ore prices retreated on Friday January 26 on China's declining steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.40 per tonne cfr QingdaoDaily change: down by $0.64 per tonneMonth-to-date average: $76.21 per tonneMetal Bulletin's 58% Fe Premium Index Today: $61.03 per tonne cfr QingdaoDaily change: down by $0.82 per...Read More
Base metals prices on the London Metal Exchange closed the week on divergent paths, with most metals on a strong footing after a week of intense rallies.The three-month tin price hit its highest since November 2016 after it hit a high of $21,895 per tonne - record low stocks and restocking ahead of Lunar New Year (mid-February) have kept tin prices well supported."With barely 1,800 tonnes of LME s...Read More
European stainless steel base prices have remained unchanged over the past week, with market participants expecting new mill offers to come in early February, sources told Metal Bulletin on Friday January 26.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,120 ($1,318-1,392) per tonne delivered in Northern Europe."Mills seem to have...Read More
Copper prices remained resilient this week despite deliveries into London Metal Exchange sheds that totaled more than 100,000 tonnes - and do not necessarily reflect changes in supply-demand fundamentals, market participants said. On Tuesday January 23, more than 36,000 tonnes of the red metal hit LME sheds, mainly Busan warehouses; subsequent deliveries moved copper into Singapore, Rotterdam and...Read More