SHANGHAI, Feb 12 (SMM) – The operating rates at Chinese domestic zinc concentrate mines are expected to drop further in February, leaving smelters more reliant on imported materials.However, SMM expects a slight increase in treatment charges (TCs) in March as domestic output is set to recover from March onwards.China’s zinc concentrate output in January failed to meet expectations as o...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points in pre-opening trade. Cisco added $0.97 to $40.50 after RBC Capital raised its target price to $44 from $40. CAE (CAE $21.94 Cdn) is expected to open higher after RBC Capital upgraded the stock to Outperform from Sector Perform.Restaurant Brands International (QSR $71.09 Cdn) is expected to open higher after...Read More
SHANGHAI, Feb 12 (SMM) – Nickel ore exports from the Philippines and Indonesia are expected to rise in February due to better weather condition in both countries and restocking need at Chinese nickel pig iron (NPI) producers after the country’s week-long new year holiday, SMM believes.We also see Indonesian 1.65% Ni ore to trade at $41.5-45/wmt cifr China this month.In January, nickel...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Monday February 12.Base metals prices on the Shanghai Futures Exchange are off to a mixed start this week, with nickel prices leading on the upside with a gain of 1%, while zinc, copper and lead prices are little changed and tin and aluminium prices are down by 0.5% and 0.9% respectively.F...Read More
SHANGHAI, Feb 12 (SMM) – Only SHFE aluminium resisted a drop among nonferrous metals today with a rise of close to 1%. SHFE tin lost 1.5% while zinc was down over 1%.In the ferrous complex, coking coal and rebar edged up when iron ore was down around 1% and coke was down 0.73%. Hot-rolled coil also slipped.Copper: The SHFE 1804 copper contract was trading below all moving averages as the mar...Read More
SHANGHAI, Feb 12 (SMM) –Copper: As investors grew cautious against the backdrop of falling global stock market and sluggish physical demand ahead of Chinese New Year, we see copper prices staying weak in the short term. However, we also see limited downward room with support level at 50,500-51,000 yuan/mt for SHFE copper. LME copper is expected to trade at $6,710-6,780/mt today.Aluminium: Ch...Read More
Listen to this podcast on our site by clicking here or subscribe on iTunes here.After gaining nearly 38% from the November 2016 election to Trump's State of the Union speech, the amazing stock market boom finally suffered it first test.Just as soon as the S&P 500 logged a new entry in the record books of going 18 months without a 5% correction, another record quickly followed wi...Read More
SHANGHAI, Feb 12 (SMM) – Zinc prices may be under pressure after Chinese New Year as import loss narrows, SMM believes.Operations at most domestic zinc smelters would remain normal during the week-long holiday, leaving inventory to increase continuously. In addition, over 200,000 mt of zinc imports in November and December last year would be entering the market.As the SHFE/LME price ratio co...Read More
SHANGHAI, Feb 12 (SMM) –Copper: As investors grew cautious against the backdrop of falling global stock market and sluggish physical demand ahead of Chinese New Year, we see copper prices staying weak in the short term. However, we also see limited downward room with support level at 50,500-51,000 yuan/mt for SHFE copper. LME copper is expected to trade at $6,710-6,780/mt today.Aluminium: Ch...Read More
Summary: After gaining more than 7% by late January, US stocks have fallen into a 10% correction. It's the quickest decline of that magnitude from an all-time high in 90 years. While a fall in stocks was not a surprise, the speed and severity certainly were.So what happens next? Prior falls like this have led to quick recoveries. That likelihood is further supported by a washout in breadth,...Read More
Published on: Feb 12, 2018 | by finfeedArcher Exploration Limited (ASX:AXE) has today informed the market of outstanding results from recent metallurgical test work it conducted on drill samples from its Ketchowla Cobalt Manganese Project in South Australia.The positive metallurgical tests, combined with the results from AXE's earlier drilling at the site, both reinforce the potential for the comp...Read More
Base metals prices on the London Metal Exchange seem to have found buying interest this morning, Monday February 12, with all of the base metals, except lead (-0.3%), showing gains averaging 1%. The three-month copper price leads the way with a 1.8% rally to $6,870 per tonne - this after a low last Friday of $6,733 per tonne.Volume has been high with 12,015 lots traded as of 07:09 am London time -...Read More
SHANGHAI, Feb 12 (SMM) –Copper: As investors grew cautious against the backdrop of falling global stock market and sluggish physical demand ahead of Chinese New Year, we see copper prices staying weak in the short term. However, we also see limited downward room with support level at 50,500-51,000 yuan/mt for SHFE copper. LME copper is expected to trade at $6,710-6,780/mt today.Aluminium: Ch...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
CALGARY, Alberta, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to provide its shareholders an update on Carmax Mining Corp. (“Carmax”) (TSX-V:CUX). Copper Fox hold 60.4% of the shares of Carmax. Carmax has completed a compilation of all available historical and current dat...Read More
Chow Chung Kong, chairman of the Hong Kong Exchanges and Clearing, will retire at the end of April this year, the exchange announced on Monday February 12."I will...be retiring at the end of April. I feel very honored to have presided over a period of substantial progress in HKEX's development, helping strengthen Hong Kong's leadership position as an...Read More
The copper price trading on the London Metal Exchange managed to hold on to most of its early morning gains to close $76 per tonne higher on Monday February 12. The three-month copper price is now trading back above $6,800 per tonne and the red metal continues to stabilize after falling to a two-month low after the equity market plummeted and the dollar recovered. The majority of metals closed in...Read More
Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
Turkish domestic auto bundle scrap prices have shown mixed dynamics over the past week, with some mills reducing their prices in line with falling imported scrap values, while other mills raised their prices to buy more material, sources said on Monday February 12.A number of steel mills in Turkey reduced their buy prices for scrap material by TRY10-15 ($3-4) per tonne in the past seven days, whil...Read More