Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Friday January 19.Base metals prices on the Shanghai Futures Exchange gave a varied performance during Asian morning trading on Friday, with aluminium and lead prices pushing higher, while the rest were little changed to weaker.Check Metal Bulletin's live futures report here.LME snapshot a...Read More
The South African mining industry has had a tumultuous time because of the controversial Reviewed Draft Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, also known as Mining Charter III, which, amid lingering political uncertainty, led to low investor confidence and continuing breaches of trust between government and industry, resulting in declinin...Read More
Base metals prices on the London Metal Exchange are stronger across the board this morning, Friday January 19, with the complex up by an average of 0.6%. Aluminium prices ($2,262 per tonne) saw the biggest increases with a 0.8% gain and lead is the laggard with a 0.4% gain ($2,616 per tonne), while copper prices, at $7,125 per tonne, are up 0.7%. Volume has been high with 11,182 lots traded as of...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures are responding to news that the House of Representatives passed a continuing resolution last night.Fourth quarter reports continue to flow in. Companies that have reported since the close yesterday included Canadian Pacific, American Express, IBM and Schlumberger.Alphabet ga...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper prices are expected to rise, overall, in 2018 despite current declines.This is in line with expectations from financial institutes such as Deutsche Bank, Société Générale and the Chilean state copper commission, Cochilco. All three have raised their price expectations in anticipation of tighter supply.SMM believes that, as i...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Premiums of non-original briquette for foreign trade are $140-150/mt while premiums of original briquette traded higher at $300/mt due to tight supply. In China, spot briquette on the Wuxi Stainless Steel Market saw discounts of 700 yuan/mt while Russian nickel saw discounts of 200 yuan/mt.China’s domestic steel mills and nickel sulfate plants...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?LME zinc has performed strongly since the start of the year. Similarly, SHFE zinc is also performing well.Downstream companies have cut back operations significantly, SMM learned. As galvanizing companies in north China face environmental restrictions and higher energy costs, some companies have already shut down for the Chinese New Year holiday in mid-February, w...Read More
The following is a summary of our recent interview with Amy Castoro at The Williams Group, which can be accessed on our site here or on iTunes here.Many individuals who have accumulated wealth over their lifetime want to help their children thrive and grow. But, when it comes to transferring wealth along to future generations, money often tears families apart.Studies...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper: Copper is expected to remain rangebound today. LME copper is to trade at $7,020-7,120/mt while SHFE 1803 is to trade at 53,190-54,050 yuan/mt. Spot discounts are expected at 130-80 yuan/mt.Aluminium: We see LME aluminium trading at $2,220-2,250/mt while SHFE aluminium is likely to follow LME tendency at 14,600-14,800 yuan/mt today. We see spot discoun...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper: Copper is expected to remain rangebound today. LME copper is to trade at $7,020-7,120/mt while SHFE 1803 is to trade at 53,190-54,050 yuan/mt. Spot discounts are expected at 130-80 yuan/mt.Aluminium: We see LME aluminium trading at $2,220-2,250/mt while SHFE aluminium is likely to follow LME tendency at 14,600-14,800 yuan/mt today. We see spot discoun...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper: Copper is expected to remain rangebound today. LME copper is to trade at $7,020-7,120/mt while SHFE 1803 is to trade at 53,190-54,050 yuan/mt. Spot discounts are expected at 130-80 yuan/mt.Aluminium: We see LME aluminium trading at $2,220-2,250/mt while SHFE aluminium is likely to follow LME tendency at 14,600-14,800 yuan/mt today. We see spot discoun...Read More
Base metals prices on the London Metal Exchange were on divergent paths at the close on Friday January 19, after a week of volatility. Zinc and tin both set fresh 2018-highs during the early morning London session, sustaining their gains throughout the day to close in positive territory."Zinc is forecast to continue its strong rally as global production is on track to trail demand for a third stra...Read More
Gains in China's futures market gave seaborne iron ore prices a boost on Friday January 19. Metal Bulletin's 62% Fe Iron Ore Index Today: $76.75 per tonne cfr Qingdao Daily change: Up by $1.88 per tonne per tonne Month-to-date average: $76.65 per tonne Metal Bulletin's 58% Fe Premium...Read More
Prices for both iron ore fines and lumps picked up on Friday January 19 amid an uptick in the futures market. Key drivers China's ferrous futures, having trended downward since Thursday night, surged across the board on Friday afternoon. The benchmark iron ore contract ending the day 1.6% higher than the previous day's settlement price. A futures trader in Beijing attributed the rebound to technic...Read More
Base metals prices on the London Metal Exchange were on divergent paths at the close on Friday January 19, after a week of volatility. Zinc and tin both set fresh 2018-highs during the early morning London session, sustaining their gains throughout the day to close in positive territory."Zinc is forecast to continue its strong rally as global production is on track to trail demand for a third stra...Read More
Selenium prices rose over the past week on dwindling supply and buoyant demand from India. "There are usually two reasons for selenium prices to go up or down - a change in demand from either India or China. And both Chinese and Indian markets are hot right now," a market participant said. Metal Bulletin's selenium price rose to $18-19.5 per lb in the midweek assessment on Wednesday January 1...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday January 19:Aluminium scrap Floated Frag: ?,?1,300-1,330 per tonne from ?,?1,290-1,330 Cast: ?,?1,200-1,270 per tonne...Read More