SHANGHAI, May 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US-Sino trade concerns eased, the US dollar surged to a high of 93.97 overnight. It closed 0.1% lower at 93.55.Base metals received support as fears of a trade war abated but faced resistance from a stronger US dollar. LME base metals rose across the board with...Read More
The latest news and price moves to start the Asian day on Tuesday May 22.Base metals on the London Metal Exchange were predominantly higher at the close of trading on Monday May 21, with zinc and lead breaking through recent support and resisting the US dollar's six-month high. Read more in our live futures report.Here are how prices looked at the close of trading:Jiangxi Copper, China's larg...Read More
The latest news and price moves to start the Asian day on Tuesday May 22.Base metals on the London Metal Exchange were predominantly higher at the close of trading on Monday May 21, with zinc and lead breaking through recent support and resisting the US dollar's six-month high. Read more in our live futures report.Here are how prices looked at the close of trading:Jiangxi Copper, China's larg...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 22.Please click...Read More
The London Metal Exchange has confirmed that its "temporary conditional suspension" of Rusal-warranted metal will remain in place, Metal Bulletin has learned.The LME first announced the suspension on April 10 following the US' decision to sanction Oleg Deripaska and UC Rusal. The bourse specified that Rusal-warranted metal will remain under suspension unless deemed acceptable, highlighting that pr...Read More
Base metals on the London Metal Exchange were mixed at the close of trading on Tuesday May 22, with lead, copper and nickel prices rallying higher amid struggling performances elsewhere in the complex. Edging 2.6% higher, lead's three-month is leading the complex's gains, breaking above the resistance level at $2,400 per tonne.The metal is finding support from the open arbitrage between the LME an...Read More
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market. Chinese export prices soften on thin trading European vanadium prices remain under pressure amid profit-taking US FeV market grinds to a halt, prices flatThe Chinese vanadium expor...Read More
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market. Chinese export prices soften on thin trading European vanadium prices remain under pressure amid profit-taking US FeV market grinds to a halt, prices flatThe Chinese vanadium expor...Read More
The rally in manganese flake prices is likely to resume after production cuts at Ningxia Tianyuan, the world's biggest manganese flake producer, market participants told Metal Bulletin. Ningxia Tianyuan has reduced manganese flake output by around 16,000 tonnes per month due to one of its three facilities closing down for maintenance, a source at the company told Metal Bulletin. Ningxia Tianyuan h...Read More
The Turkish deep-sea scrap market remained silent on Tuesday May 22, with mills still looking for lower prices.The mills continue to struggle with the weakness of the lira against the US dollar, which is affecting the local market very badly, while the demand for finished steel in the export markets was also sluggish, according to market sources.Turkish mills booked only three deep-sea cargoes las...Read More
Comex copper maintained optimism through to the US morning on Tuesday May 22 with the red metal trading at the highest point since late April. Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 3.95 cents or 1.4% to $3.1380 per lb. The contract hit a high of $3.1430, the strongest point since...Read More
Three-month base metals prices on the London Metal Exchange were little changed to weaker on the morning of Tuesday May 22, with prices down by an average of 0.3%. This was skewed, however, by losses of around 0.6% in aluminium, nickel and zinc. Copper was off by 0.1% at $6,894 per tonne.Volume on the LME has been average with 5,183 lots traded as at 07.02 am London time. This follows a strong per...Read More
“On...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 it’s published.S...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Micron jumped $3.24 to $58.72 after announcing a $10 billion share buyback program. The company also announced an arrangement to provide specialty chips to Intel. Adobe (ADBE $238.10) is expected to open higher after announcing an $8 billion extension to its share buyback program.Macy's a...Read More
Available aluminium LME inventory surged last...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 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
Canada-based minerals supplier Cobalt 27's Electric Metals Streaming subsidiary has entered a metal purchase and sale agreement with Ramu Nickel (RNL) for cobalt and nickel produced at the Ramu mine in Papua-New Guinea, Metal Bulletin has learned.Under the agreement, Cobalt 27 will have the right to purchase 55% of RNL's share of cobalt metal produced at Ramu, and 27.5% of its nickel, for the life...Read More
Aluminium LME aluminium has failed in several attempts to...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 down...Read More