Base Metal Stocks Articles

Inner Mongolia NPI plants maintenance reduces output in Jan

Jan 24 2018 / Staff reporter

SHANGHAI, Jan 24 (SMM)? 1/4 ?Three nickel pig iron (NPI) plants in Inner Mongolia were set to be suspended for maintenance this month due to aging facilities, SMM learned.We estimate about 1,250 mt of nickel ouput will be lost, accounting for 4% of China’s high-grade NPI output.SMM forecast China’s high-grade NPI output to drop 8% to 35,000 in January from the previous month as a numbe...Read More

Flash: China Copper Group sees record profits in 2017

Jan 24 2018 / Staff reporter

China Copper Group has generated 706 million yuan of profits in 2017, setting a new record high since its establishment. The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article. Read More

FOCUS: Tin has strong start to 2018 with LME stocks at record lows

January 24, 2018 / Alice Mason

Tin stocks at London Metal Exchange warehouses have fallen further since the start of 2018, with a 34% reduction in on-warrant stocks pushing tin prices to a three-month high.Total tin stock levels are at 1,780 tonnes as of Wednesday January 24 - their lowest since the 1980s - after a series of cancelations and deliveries out since January 10. This is in comparison with the start of 2017, when Jan...Read More

Tech Talk for Wednesday January 24th 2018

24/01/2018 / Staff reporter

Technical action by S&P 500 stocks to 11:15: Quiet. Breakouts: $MAC $WY. No breakdownsEditor's Note: After 11:15 AM EST, breakouts included CB, PAYX, ORCL, BMY and BIIB. CGI Group $GIB, a TSX 60 stock moved above $54.99 to an all-time high extending an intermediate uptrend.Imperial Oil $IMO.CA, a TSX 60 stock moved above $39.98 setting intermediate uptrend.'Tis the season for Imperial Oil to m...Read More

SMM Morning Comments (Jan 24)

Jan 24 2018 / Staff reporter

SHANGHAI, Jan 24 (SMM)? 1/4 ?Copper: Surging inventory has seen LME copper prices wander around the $7,000/mt level for a few days. Inventory levels and changes in spot premiums would set the tone for future LME copper movement in the short term. On the SHFE, open interest has increased to 708,000 lots with many of them speculative bets. We see increased volatility in the near term.Aluminium: LME...Read More

SMM Morning Comments (Jan 24)

Jan 24 2018 / Staff reporter

SHANGHAI, Jan 24 (SMM)? 1/4 ?Copper: Surging inventory has seen LME copper prices wander around the $7,000/mt level for a few days. Inventory levels and changes in spot premiums would set the tone for future LME copper movement in the short term. On the SHFE, open interest has increased to 708,000 lots with many of them speculative bets. We see increased volatility in the near term.Aluminium: LME...Read More

SMM Morning Comments (Jan 24)

Jan 24 2018 / Staff reporter

SHANGHAI, Jan 24 (SMM)? 1/4 ?Copper: Surging inventory has seen LME copper prices wander around the $7,000/mt level for a few days. Inventory levels and changes in spot premiums would set the tone for future LME copper movement in the short term. On the SHFE, open interest has increased to 708,000 lots with many of them speculative bets. We see increased volatility in the near term.Aluminium: LME...Read More

LIVE FUTURES REPORT 24/01: LME nickel, lead, zinc prices set multi-year highs on plummeting dollar

January 24, 2018 / Alice Mason

Base metals prices on the London Metal Exchange put in a strong performance on the afternoon of Wednesday January 24, supported by the weaker dollar, to close in positive territory across the board.The three-month nickel price ended more than 5% higher than Tuesday's closing price after hitting its highest since June 2015. Volumes were also high today, with more than 18,000 lots traded by 17:15 Lo...Read More

FOCUS: Tin has strong start to 2018 with LME stocks at record lows

January 24, 2018 / Alice Mason

Tin stocks at London Metal Exchange warehouses have fallen further since the start of 2018, with a 34% reduction in on-warrant stocks pushing tin prices to a three-month high.Total tin stock levels are at 1,780 tonnes as of Wednesday January 24 - their lowest since the 1980s - after a series of cancelations and deliveries out since January 10. This is in comparison with the start of 2017, when Jan...Read More

IRON ORE PRICES: Benchmark index flat at $74 per tonne cfr

January 24, 2018 / Sophie Zhao

Iron ore prices remained steady around $74 per tonne cfr China on Wednesday January 24 amid mixed signals from China's steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.53 per tonne cfr Qingdao Daily change: up by $0.24 per tonne Month-to-date average: $76.38 per tonne Metal Bulletin's 58% Fe...Read More

EUROPE BEAMS: Strong end-user demand keeps prices stable

January 24, 2018 / Lee Allen

European domestic prices for steel beams have remained unchanged this week, with solid demand and well-booked mill rolling schedules supporting the market, sources told Metal Bulletin on Wednesday January 24."There is no problem at all in the beam market. Demand is good," one stockholder said."As far as we are seeing, there is no weakening in prices," one producer source told Metal Bulletin."Mill...Read More

LIVE FUTURES REPORT 24/01: LME nickel, lead, zinc prices set multi-year highs on plummeting dollar

January 24, 2018 / Alice Mason

Base metals prices on the London Metal Exchange put in a strong performance on the afternoon of Wednesday January 24, supported by the weaker dollar, to close in positive territory across the board.The three-month nickel price ended more than 5% higher than Tuesday's closing price after hitting its highest since June 2015. Volumes were also high today, with more than 18,000 lots traded by 17:15 Lo...Read More

GLOBAL ZINC & LEAD WRAP: Zinc and lead premiums stay flat; prices set fresh multi-year highs

January 24, 2018 / Echo Ma

Premiums for zinc and lead ingots were unchanged in a week where prices hit multi-year highs for both metals.The price of zinc continues to ratchet up, with the London Metal Exchange's three-month zinc contract peaking at $3,432 per tonne on Friday January 19, its highest point since July 2007. Similarly, the LME's three-month lead price gained to $2,616 per tonne on Wednesday January 24...Read More

Brazil's primary aluminium production grows 1% in 2017

January 24, 2018 / Danielle Assalve

Brazil's primary aluminium production has edged up in 2017, according to figures from the country's aluminium association Abal.Output totaled 801,000 tonnes last year, a modest 1.05% increase from the 792,700 tonnes produced in 2016. Only two primary aluminium producers are operating...Read More

OBITUARY: Cobalt and nickel trader Derek Benham dies at 65

January 24, 2018 / Perrine Faye

Derek John Benham, who had more than 40 years of experience in the metals industry - mostly in cobalt and nickel - died earlier this month at the age of 65.Born in Enfield, UK, in 1952, Benham passed away on January 7 after bravely and discreetly fighting prostate cancer for many years. His wife Joan survives him."Derek was a true gentleman and it is a big loss to the metals industry," collea...Read More

Antofagasta's 2017 copper output drops on lower grades; expects to conclude Los Pelambres labor talks in Q1

January 24, 2018 / Julian Luk

Chilean miner Antofagasta produced 704,300 tonnes of copper in 2017, down 0.7% from a year ago, mainly attributed to lower grades at Los Pelambres and Centinela mines. The London-listed company said on Wednesday January 24 that the drop in output was partly offset by the start of operations at its Encuentro Oxides and a ramp-up at Antucoya projects. "The new additions to our portfolio at Zald?-var...Read More

GLOBAL COPPER WRAP: Cathode premiums quiet in Europe, US; Chinese market softens once again

January 24, 2018 / Danielle Assalve

Copper premiums in the United States and Europe were little changed on Tuesday January 23, although US participants are gaining more confidence as the year progresses, while in China premiums once again saw downward pressure on sluggish demand. US participants growing more optimistic due to construction figures and freight costs Chinese premiums falling due to softening demand European...Read More

Moody's upgrades Usiminas credit ratings in recovering Brazilian steel sector

January 24, 2018 / Ana Paula Camargo

Ratings agency Moody's has upgraded the global-scaled ratings of Brazilian flat steel producer Usiminas to B2 from Caa1, amid a gradual rebound in the national steel sector, the agency said on Wednesday January 24.The firm's national-scale rating was also upgraded to Ba1.br from B3.br."The upgrade of Usiminas to B2 reflects primarily the conclusion of its debt renegotiation process with the amorti...Read More

EUROPE WIRE ROD: Southern European prices narrow upward on raised offers

January 24, 2018 / Viral Shah

Domestic prices for steel wire rod narrowed upward by ?,?20 per tonne in Southern Europe this week as mills in the region raised their offer prices, sources told Metal Bulletin on Wednesday January 24.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe narrowed upward to ?,?540-550 ($662-675) per tonne delivered on January 24, from ?,?520-550 per tonne de...Read More

NORTHERN EUROPE REBAR: Prices largely stable

January 24, 2018 / Viral Shah

Domestic prices for rebar in Northern Europe remained largely stable week-on-week as European mills looked to raise offers, sources told Metal Bulletin on Wednesday January 24.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?555-565 ($681-693) per tonne delivered on Wednesday, narrowing ?,?5 per tonne on each end...Read More

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