Dip-buying quick to provide support Nickel prices...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 late...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,120/mt on weaker bullish sentiment while SHFE 1803 is expected to trade at 53,450-54,000 yuan/mt. We see spot discounts at 130-90 yuan/mt today.Aluminium: LME aluminium remains strong and is expected to trade at $2,220-2,260/mt while SHFE aluminium is expected to trade at 14,600-14,800 yuan/mt, driven b...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,120/mt on weaker bullish sentiment while SHFE 1803 is expected to trade at 53,450-54,000 yuan/mt. We see spot discounts at 130-90 yuan/mt today.Aluminium: LME aluminium remains strong and is expected to trade at $2,220-2,260/mt while SHFE aluminium is expected to trade at 14,600-14,800 yuan/mt, driven b...Read More
Investors have more conviction on the...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...Read More
Underpinned by robust data and rising...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...Read More
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’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS 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 lat...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Tuesday January 23, with the complex up by an average of 0.3%.Three-month nickel prices ($12,860 per tonne) are up the most with a 0.9% gain, lead prices ($2,625 per tonne) are up by 0.6%, zinc ($3,427 per tonne) and copper prices (7,091 per tonne)are up by 0.2% and 0.3% respectively, while aluminium ($2,2...Read More
The three-month copper price on the London Metal Exchange plummeted over 2% at the close on Tuesday January 23 after on-warrant stocks hit their highest since October 20, 2017. Copper prices hit their 2018 low at $6,914.50 earlier today following the delivery of 40,000 tonnes of copper into LME warehouses, with the majority of the stock into Busan while 8,100 tonnes was re-warranted across Asian l...Read More
Iron ore prices dropped close to $74 per tonne cfr China on Tuesday January 23 amid weakening steel billet and futures markets. Metal Bulletin's 62% Fe Iron Ore Index Today: $74.29 per tonne cfr Qingdao Daily change: down by $2.32 per tonne. Month-to-date average: $76.50 per tonne Metal Bulletin's 58% Fe Premium Index Today: $60.73 per tonne cfr Qingdao Daily change:...Read More
Sentiment in the seaborne coking coal spot market remained downbeat on Tuesday January 23, with lower offers failing to pique any interest among buyers. "Since there's very little interest, sellers will have to give larger discounts in order to seal the deals," a trading source said. But market participants reported that coking coal was fetching attractive prices at Tangshan's Jingtang port, which...Read More
Most buyers of flat steel in the United Arab Emirates and in Saudi Arabia preferred to delay their purchasing this week because end-user demand was not strong and they expected discounts, sources told Metal Bulletin on Tuesday January 23.UAEHot-rolled coil (HRC) was offered at $600-605 per tonne cfr from China, and a buyer was bidding $580 per tonne cfr.India offered the product at $605-610 per to...Read More
Metal Bulletin Research topped the base metals leaderboard in the Apex fourth-quarter 2017 contest, with an accuracy rating of 99.35%. Click on the image below to download the full report. Bunk Muscat's Ajit S Mauskar was second in the base metals table with an accuracy rating of 98.88%, Casper Burgering of ABN Amro was third with 98.66%. SP Angel's John Meyer and Sergey Raevskiy were fourth with...Read More
The sharp increase in aluminium premiums in the United States - in addition to the potential import tariff there - is putting the Brazilian market under upward pressure, but weak demand has kept spot premiums in check until now.The US Midwest delivered premium hit its highest level since May 2015 this week and has risen by 16.4% thus far in January, to 10.5-11.5 cents per pound ($231.50-$253.50 pe...Read More
A series of put options bought at bearish strike prices served as an indication of potential copper deliveries onto the LME, market sources said after more than 36,000 tonnes of the metal hit LME sheds on Tuesday January 23.LME stocks surged by 17% when updated warehouse stock data showed several large deliveries on the exchange, notably 24,625 in Busan. In addition, the 28% increase in on-warrant...Read More
Chrome ore and charge chrome import prices rose in China on Friday January 19 amid tight supply after mills failed to secure sufficient alloy supply for their steel-making needs, while domestic prices rose on New Year stockpiling. Ore and alloy prices continued to propel each other in ChinaFurther price strength predicted amid new round of stockpiling before Lunar New YearJapanese, South Korean p...Read More
Global ferro-vanadium markets experienced sharp gains once again this past week, with supply concerns continuing to support prices....Read More
The international trade committee of the European Parliament has now endorsed the political agreement on the modernization of the EU's trade defense instruments, the European Commission (EC) said on Tuesday January 23.The agreement was reached between the EC, the European Council and the European Parliament on December 5 last year.The changes to the EU's anti-dumping and anti-subsidy regulations w...Read More
(Repeats without change to text. The opinions expressed here are those of the author, a columnist for Reuters)* LME Volumes long term: * LME Volumes by contract: * CME copper positioning: By Andy HomeLONDON, Jan 22 (Reuters) - Trading volumes on the London Metal Exchange (LME) increased by a marginal 0.5 percent last year. Not exactly the most exciting headline in the world of commodities trading...Read More
(Kitco News) - Even though gold is still trading above $1,330 an ounce, the metal is looking to consolidate in the near-term while the precious market is waiting for a new catalyst, according to the latest report by TD Securities.“Gold took a breather after several consecutive weeks of strong performance, as its run toward its 2017 highs ran out of steam,” said Bart Melek, head of glob...Read More