Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday February 14.Base prices on the Shanghai Futures Exchange rose during Asian morning trading on Wednesday, the last trading day before the Lunar New Year break. Check Metal Bulletin's live futures report here. LME snapshot at 02.00 am London timeLatest three-month LME Prices Price (...Read More
Base metals on the London Metal Exchange are for the most part consolidating this morning, Wednesday February 14. Nickel prices are the most energetic with a 0.7% gain to $13,520 per tonne, the others are ranged between down 0.2% and up 0.3%, with copper prices unchanged at $7,017 per tonne.Volume has been below average, with 7,611 lots traded as of 07.19 am London time. This follows a second day...Read More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points in pre-opening trade. Index futures moved lower following release of economic news at 8:30 AM EST. Consensus for January Consumer Prices was an increase of 0.3% versus a gain of 0.1% in December. Actual was an increase of 0.5%. Excluding food and energy, consensus for January Consumer Prices was an increase...Read More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
SHANGHAI, Feb 14 (SMM) –Copper: Copper prices rebounded following the global stock market rally and a decline in LME inventory. While investors are expected to close out their positions on the SHFE on the last trading day before Chinese New Year, we see SHFE copper to trade at 52,200-52,800 yuan/mt today. LME copper is still likely to hit the $7,000/mt level in the short term. In the physica...Read More
Short term momentum indicators (Stochastics, RSI, MACD) for U.S. equity indices and most major sectors have turned up from oversold levels. See tables below.Copper and copper stocks were notably stronger yesterday. 'Tis the season for copper and copper/base metal stocks to move higher into early May!Potential equity ETFs in this sector include ZMT.CA in Canada and PICK and COPX in the U.S.Strength...Read More
SHANGHAI, Feb 14 (SMM) –Copper: Copper prices rebounded following the global stock market rally and a decline in LME inventory. While investors are expected to close out their positions on the SHFE on the last trading day before Chinese New Year, we see SHFE copper to trade at 52,200-52,800 yuan/mt today. LME copper is still likely to hit the $7,000/mt level in the short term. In the physica...Read More
SHANGHAI, Feb 14 (SMM) – SMM expects zinc social inventory in Shanghai, Guangdong and Tianjin to hit 200,000 mt after Chinese New Year, up by at least 20,000-30,000 mt during the week-long holiday. Production at smelters and deliveries remain normal but trading was muted, SMM learned. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on ho...Read More
SHANGHAI, Feb 14 (SMM) –Copper: Copper prices rebounded following the global stock market rally and a decline in LME inventory. While investors are expected to close out their positions on the SHFE on the last trading day before Chinese New Year, we see SHFE copper to trade at 52,200-52,800 yuan/mt today. LME copper is still likely to hit the $7,000/mt level in the short term. In the physica...Read More
Colorado School of Mines hosted the largest Spring Career Day in its history Feb. 13, with a record 248 companies present.Hundreds of students entered the Student Recreation Center for the chance to speak to recruiters about opportunities. For some students, that meant waiting in the long lines that formed at larger companies. Among the larger employers at Career Day were Kiewit, Martin/Martin, Or...Read More
Amy Landis, presidential faculty fellow for access, attainment and diversity at Colorado School of Mines, has been invited to speak about diversity in STEM at the 2018 American Association for the Advancement of Science Annual Meeting Feb. 15-19 in Austin, Texas. Landis, who leads the President's Council on Diversity, Inclusion and Access at Mines, will present during two sessions at the conferen...Read More
The Mining Engineering Department at Colorado School of Mines has received approval from the Board of Trustees to launch an innovative new graduate degree program. The Professional Masters in Mining Engineering and Management is an advanced degree that focuses on the practical integration of the technical, financial, management and other linked disciplines that make up the mining industry today. T...Read More
Base metals prices on the London Metal Exchange took advantage of the weakening dollar to close higher across the board on Wednesday February 14, with nickel leading the charge."LME prices strengthened further on a lack of Chinese selling and a softer US dollar, which saw upside stops triggered with an accompanying sharp increase in turnover. 5pm closes were all up on the day and just off the high...Read More
Iron ore prices jumped to more than $78 per tonne cfr China on Wednesday February 14 despite inactive physical trading. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.41 per tonne cfr Qingdao Daily change: up by $1.05 per tonne Month-to-date average: $76.19 per tonne Metal Bulletin's 58% Fe Premium Index...Read More
Base metals prices on the London Metal Exchange were mostly consolidating during morning trading on Wednesday February 14, with the complex trying to stabilize after two days of rebounds. "Despite the low volumes, the resilience of the markets at their new higher levels is impressive, there is some light short-covering but more importantly a genuine lack of selling as the US dollar slips lower yet...Read More
During the past couple of years, US steelmakers, especially on the carbon flat-rolled side, have been consistently reporting better margins, albeit after a horrendous 2015 when falling demand was exacerbated by high import volumes.But with the US economy now booming and predicted to accelerate this year, it looks as if things can only get better through 2018. Unsurprisingly, some of the most profi...Read More
Spot prices have eased so far this week in European molybdic oxide and ferro-molybdenum trading due to the absence of key world trader China which has had a dampening effect on international markets, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $12.00-12.25 per lb in-warehouse Rotterdam on Wednesday February 14, from $12.20-12.50 per lb on Friday. The market w...Read More
Prices for commodity-grade hollow sections increased by $5-10 per tonne in Southern Europe this week, with Italian tube producers continuing to ask customers to pay higher prices.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-655 ($771-808) per tonne on Wednesday, compared with ?,?620-645 per tonne delivered last week.Domestic Northern European hollow secti...Read More