SHANGHAI, Mar 2 (SMM) – Spot zinc discounts in the Shanghai market continued to widen downwards over the past week on high inventories, slower consumption recovery and tighter cash, SMM learned.Many smelters maintained normal operations during the Chinese New Year holiday last month and accumulated inventories. This gave pressure to the market and led traders to cut prices in order to offloa...Read More
SHANGHAI, Mar 2 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe US dollar index edged down slightly from a six-week high to 90.2 following the Federal Reserve chair Jerome Powell’s statement that the US economy was not overheating and President Donald Trump’s announcement of imposing global tariffs on steel and aluminium...Read More
The latest metal markets news and price moves to start the North American day on Friday March 2.Base metals prices on the London Metal Exchange were little changed during morning trading with the complex restricted by thin liquidity and a firmer dollar.Here's how base metals prices look at 12.19pm London time: Read our live futures report here.In other exchange news, deliverable copper stocks at S...Read More
SHANGHAI, Mar 2 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe US dollar index edged down slightly from a six-week high to 90.2 following the Federal Reserve chair Jerome Powell’s statement that the US economy was not overheating and President Donald Trump’s announcement of imposing global tariffs on steel and aluminium...Read More
SHANGHAI, Mar 2 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe US dollar index edged down slightly from a six-week high to 90.2 following the Federal Reserve chair Jerome Powell’s statement that the US economy was not overheating and President Donald Trump’s announcement of imposing global tariffs on steel and aluminium...Read More
SHANGHAI, Mar 2 (SMM) -Copper: LME copper fell to a low of $6,858.5/mt last night while SHFE copper closed at 52,520 yuan/mt. We expect LME copper to trade at $6,850-6,920/mt today with the SHFE 1805 contract at 52,300-52,800 yuan/mt. Spot discounts are seen widening to 210-130 yuan/mt as sellers were keen to destock.Aluminium: LME aluminium rebounded and hit a high at $2,164.5/mt as US President...Read More
Published on: Mar 2, 2018 | by finfeedMetals junior, Pacifico Minerals (ASX:PMY), today updated the market on its progress across its exploration portfolio of polymetallic projects in Colombia and Australia.PMY is focused on advancing its Borroloola West Copper/Zinc/Lead/Cobalt/Silver Project in the Northern Territory. This project covers a promising package of ground north-west of the McArthur Ri...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Friday March 2.Base metals traded on the Shanghai Futures Exchange remained weak during Asian morning trading on Friday, with only aluminium and copper prices showing some resilience - the former finding support from news that US President Donald Trump will enact a 10% tariff on aluminium...Read More
SHANGHAI, Mar 2 (SMM) -Copper: LME copper fell to a low of $6,858.5/mt last night while SHFE copper closed at 52,520 yuan/mt. We expect LME copper to trade at $6,850-6,920/mt today with the SHFE 1805 contract at 52,300-52,800 yuan/mt. Spot discounts are seen widening to 210-130 yuan/mt as sellers were keen to destock.Aluminium: LME aluminium rebounded and hit a high at $2,164.5/mt as US President...Read More
SHANGHAI, Mar 2 (SMM) -Copper: LME copper fell to a low of $6,858.5/mt last night while SHFE copper closed at 52,520 yuan/mt. We expect LME copper to trade at $6,850-6,920/mt today with the SHFE 1805 contract at 52,300-52,800 yuan/mt. Spot discounts are seen widening to 210-130 yuan/mt as sellers were keen to destock.Aluminium: LME aluminium rebounded and hit a high at $2,164.5/mt as US President...Read More
Colorado School of Mines is excited to announce that the university is now an official partner of the Kern Entrepreneurial Engineering Network (KEEN). KEEN is a growing network of 30+ undergraduate engineering programs around the United States, including institutions such as Arizona State University, Santa Clara University and Villanova University. The network's mission is to graduate engineers...Read More
US President Donald Trump's decision to enact a 10% tariff on aluminium imports is expected to give suppliers stronger grounds to ask for higher premiums for second-quarter aluminium supply to main Japanese ports (MJP), market participants said. Trump confirmed on Thursday March 1 that he will impose a 10% tariff on aluminium imports into the United States as a result of the Section 232 inves...Read More
Peru's government has hailed the successful auction of the Michiquillay copper project as a sign of a revival in mining investment in the Andean nation, but several industry participants dispute that notion.Southern Copper Corp, controlled by Grupo Mexico, last week won a public tender to develop the world-class mining project in Peru's northern region of Cajamarca with an offer of $400 million. T...Read More
Base metals on the London Metal Exchange mostly closed the week in negative territory on Friday March 2, with aluminium the sole exception.The three-month aluminium price held steady throughout today's trading while the market assessed news that US President Donald Trump intends impose a 10% tariff on aluminium imports."Who knows what it will mean to for exchange prices? For sure it will affect th...Read More
Trading activity in the seaborne coking coal market picked up ahead of the weekend, which saw the first cargo of premium low-vol product being sold to a Chinese buyer on a fixed-price basis in at least a week.The top-tier cargo changed hands around $238 per tonne cfr China, sources told Metal Bulletin on Friday March 2. A cargo of second-tier materials was also traded at $195 per tonne fob Austral...Read More
Base metals prices on the London Metal Exchange were little changed during morning trading on Friday March 2, with the complex restricted by thin liquidity and a firmer dollar. Aluminium's benchmark cash/three-month spread swung back into contango for the first time since February 14 this morning - now at $1.75 per tonne contango from $6 per tonne backwardation at the close yesterday.The backwarda...Read More
The UK inter-merchant price range for austenitic alloy steel scrap has gone unchanged this week because a rise in nickel prices at the end of last week was offset by a later drop this week, sources said on Friday March 2.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-990 ($1,306-1,361) per tonne delivered on Friday, unchanged over the week."The ni...Read More
The base price assessments for flat and long stainless steel products in Europe were unchanged this week on reduced market activity, sources told Metal Bulletin on Friday March 2.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,110 ($1,294-1,355) per tonne delivered in Northern Europe on March 2, steady over the week."Market activit...Read More
Hydro has declared force majeure at its Alunorte alumina refinery in Brazil's northern state of Par?? following an order by the country's authorities to cut output by 50%. The Norwegian company said it had issued the notice due to the production cut as well as a lack of clarity into what measures it would take to return Alunorte to normal. "Contingency plans are being implemented, and Alunorte is...Read More
Brazil's aluminium industry is concerned about a potential surge of Chinese sheet and foil shipments into the country following US President Donald Trump's decision to enact a 10% tariff on US aluminium imports under Section 232."The biggest question is what China will do now... The idea of China looking for new destinations for its aluminium products is very concerning to us," Milton Rego, presid...Read More