SHANGHAI, May 29 (SMM) – While the SHFE 1807 zinc contract saw three consecutive days of increase and closed 260 yuan/mt higher at 51,710 yuan/mt on Tuesday May 29 due to declining social inventory, a downward turn may be in sight.This is due to sluggish downstream demand from galvanising plants despite stable orders across zinc die-casting alloy producers, market participants told SMM....Read More
SHANGHAI, May 29 (SMM) – Spot copper was mostly offered at a discount of 80-20 yuan/mt to the SHFE 1806 contract on Tuesday May 29 in the Shanghai market. This compared with a discount of 90-20 yuan/mt on Monday May 28.The SHFE 1806 contract gained nearly 300 yuan/mt to a high of 51,560 yuan/mt in the morning. Transaction liquidity was down from the previous day as sellers were unwillin...Read More
SHANGHAI, May 29 (SMM) – Copper: The SHFE 1807 contract mostly hovered above the daily moving average at 51,200 yuan/mt last night but jumped to a high of 51,470 yuan/mt near closing as investors cut their shorts. It closed slightly lower from last Friday night with pressure from a stronger US dollar. We see it trading at 51,300-51,650 yuan/mt today with support at 51,300 yuan/mt. LME c...Read More
SHANGHAI, May 29 (SMM) – Copper: The SHFE 1807 contract mostly hovered above the daily moving average at 51,200 yuan/mt last night but jumped to a high of 51,470 yuan/mt near closing as investors cut their shorts. It closed slightly lower from last Friday night with pressure from a stronger US dollar. We see it trading at 51,300-51,650 yuan/mt today with support at 51,300 yuan/mt. LME c...Read More
Kudumane Manganese Resources (KMR) will start production from its Hotazel mine in South Africa's Northern Cape from September and the output will be 40% manganese ore with 5% iron content, Gautam Kumar, associate director of Asia Minerals Ltd (AML), confirmed to Metal Bulletin.AML, which is based in Hong Kong, has a 36.75% share of KMR under a joint venture agreement. The first commercial shipment...Read More
Three-month base metals prices on the London Metal Exchange were for the most part stronger on the morning of Tuesday May 29, with gains averaging 0.8%, except aluminium where prices are off 0.1%, while copper prices are up 0.3% at 46,879 per tonne.Volume on the LME has been high, with 10,305 lots traded as of 6:59am London time. This follows a general day of weakness on Friday, when all the metal...Read More
The downward price trend in the CIS export billet market continued early this week amid sluggish trading activity and pressure from the import scrap market in Turkey.Metal Bulletin's CIS billet export index was $509 per tonne fob Black Sea on Tuesday May 29, down by $6 per tonne from $515 per tonne fob Black Sea on May 25.The CIS billet export index was not published...Read More
Chinese ferro-silicon prices strengthened in the week ended Friday May 25 after a major consumer increased its monthly buying price for May and showed a willingness to pay more for June shipments, while European prices dropped on the high end, but lower grade sales shored up support for standard grade, while in the United States prices remained steady in a quiet market. China moves up and set to c...Read More
European alloy steel surcharges for June deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fifth consecutive month on an increase in nickel costs to reach a six-year high.The June alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,503-1,535 ($1,752-1,790) per tonne. This is up sharply mont...Read More
Chinese vanadium exporters held prices steady last week amid sluggish trading activity, while European ferro-vanadium prices bounced back due to tightening inventories. Chinese vanadium export prices steady amid thin trading activity European ferro-vanadium prices rebound on signs of inventory tightness Ferro-vanadium market weaker in the United States, with traders reduc...Read More
The latest metal markets news and prices moves for the start of the North American day on Tuesday May 29. Nickel and lead prices maintained broad strength during morning trading in Europe today, while the three-month tin and zinc prices rebounded from recent lulls amid a rallying US dollar. Here's how LME base metals prices looked at 13:18 London time:Check out the latest futures price moves in ou...Read More
Kudumane Manganese Resources (KMR) will start production from its Hotazel mine in South Africa's Northern Cape from September and the output will be 40% manganese ore with 5% iron content, Gautam Kumar, associate director of Asia Minerals Ltd (AML), confirmed to Metal Bulletin.AML, which is based in Hong Kong, has a 36.75% share of KMR under a joint venture agreement. The first commercial shipment...Read More
Selenium prices dropped from three-year highs last week in Europe on weakening demand and increasing spot market availability.Metal Bulletin assessed selenium free market in-warehouse prices at $21-23.5 per lb on Friday May 25, down from the mid-week assessment of $23-24.5 per lb.Selenium prices in Europe had been in an upward trend since the beginning of this year on healthy demand from Asia.Sele...Read More
Chinese ferro-silicon prices strengthened in the week ended Friday May 25 after a major consumer increased its monthly buying price for May and showed a willingness to pay more for June shipments, while European prices dropped on the high end, but lower grade sales shored up support for standard grade, while in the United States prices remained steady in a quiet market. China moves up and set to c...Read More
European alloy steel surcharges for June deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fifth consecutive month on an increase in nickel costs to reach a six-year high.The June alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,503-1,535 ($1,752-1,790) per tonne. This is up sharply mont...Read More
The continuing strike by Brazilian truck drivers over the recent rises in fuel prices in the country has had a minor effect on Vale's mining operations, chief executive officer Fabio Schvartsman has said.If the strike action persists for a few more days, however, the company will have to reduce its pace of production, he told the local press on Tuesday May 29.Market rumors indicate that Vale's ope...Read More
Turkish steel mills have continued their deep-sea scrap bookings for June deliveries, while prices for Baltic Sea-origin material have been falling, sources said on Tuesday May 29.A steel mill in the Iskenderun region booked a Baltic Sea cargo on Tuesday, comprising 28,000 tonnes of HMS 1&2 (80:20) at $333 per tonne, a minimum of 4,000 tonnes of bonus at $343 per tonne, and a minimum of 1,000...Read More
A second producer has offered aluminium for July-September delivery to main Japanese ports (MJP) on cif basis at a $159 per tonne premium over the London Metal Exchange cash price, several trade sources told Metal Bulletin.This came after Rusal's offer at $160 per tonne earlier this week, which is 24% higher than...Read More
Copper Tips Online – Copper Buy call a1c given at price 454.70 Achieved 1st target 457.70. CMP 459.70 Achieved 2nd Target. profit of 5 Points x 2 lot = 10 PointsTIPS ID a1c : Copper Carry Call - BUY Copper JUN at CMP 454.70 with Small SL 452.60 for Target 457.70 - 459.70 Read More
COPPER TRADING CALLCopper Trading Call – Copper BUY Call a1c, Given at price 454.70 Achieved 1st Target 457.70. Total profit of 3 Points x 2 lot = 6 Points ProfitTIPS ID a1c : Copper Carry Call - BUY Copper JUN at CMP 454.70 with Small SL 452.60 for Target 457.70 - 459.70 Read More