U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures moved slightly lower following release of economic news. Consensus for May ADP Employment reported at 8:15 AM EDT was a drop to 186,000 from 204,000 in April. Actual was 178,000. Consensus for second estimate of annualized first quarter real GDP reported at 8:30 AM EDT was...Read More
Prices drift as risk sentiment remains...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
Aluminium Aluminium prices remain confined to narrow ranges and...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plu...Read More
SHANGHAI, May 30 (SMM) – Spot copper was mostly offered at a discount of 70 yuan/mt to flat over the SHFE 1806 contract on Wednesday May 30 in the Shanghai market. This compared with a discount of 80-20 yuan/mt on Tuesday May 29.The SHFE 1806 contract slumped to close at 50,900 yuan/mt in the morning trading session, over 400 yuan/mt lower from the end of Tuesday morning. As p...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
SHANGHAI, May 30 (SMM) – Despite lower offers in China's spot zinc market, downstream buyers held back from purchases on Wednesday May 30 amid bearish sentiment on prices of futures, SMM learned.The SHFE zinc 1806 contract fell to a low of 24,080 yuan/mt near noon on May 30 and closed at 24,150 yuan/mt, some 30 yuan/mt lower from Tuesday.In Shanghai, #0 zinc mostly traded at 23,960-24,13...Read More
In this week’s analysis, we identify...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
SHANGHAI, May 30 (SMM) – Copper: Copper prices dipped overnight amid bearish sentiment as US-Sino trade tension re-emerged and as Italy entered a political crisis. LME copper is expected to trade at $6,800-6,860/mt with the SHFE 1807 contract at 51,200-51,700 yuan/mt today. Spot discounts are seen at 90-30 yuan/mt as a deadlock continues between sellers and downstream buyers.A...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
Lead prices driven higher by...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as i...Read More
SHANGHAI, May 30 (SMM) – Some 2,805 mt of copper scrap imports received the green light in the 13th batch of approvals for restricted solid scrap material imports, according to the solid waste management centre of China’s Ministry of Ecology and Environment.This brought the total approved copper scrap imports this year to 485,100 mt, down 83.9% from 11 batches last year.Two companies i...Read More
SHANGHAI, May 30 (SMM) – Copper: Copper prices dipped overnight amid bearish sentiment as US-Sino trade tension re-emerged and as Italy entered a political crisis. LME copper is expected to trade at $6,800-6,860/mt with the SHFE 1807 contract at 51,200-51,700 yuan/mt today. Spot discounts are seen at 90-30 yuan/mt as a deadlock continues between sellers and downstream buyers.A...Read More
Targeting $15,000 per tonne... Despite a more...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest i...Read More
SHANGHAI, May 30 (SMM) – Copper: Copper prices dipped overnight amid bearish sentiment as US-Sino trade tension re-emerged and as Italy entered a political crisis. LME copper is expected to trade at $6,800-6,860/mt with the SHFE 1807 contract at 51,200-51,700 yuan/mt today. Spot discounts are seen at 90-30 yuan/mt as a deadlock continues between sellers and downstream buyers.A...Read More
Tin under selling pressure... LME tin...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
Prices for domestic hollow steel sections narrowed downward in Northern Europe this week, with market activity remaining thin amid regulatory uncertainty, market sources told Metal Bulletin on Wednesday May 30.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe narrowed downward by ?,?5 per tonne to ?,?640-650 ($741-752) per...Read More