Stainless steel prices in Asia are likely to remain bearish on expectations of continued low demand in the second quarter of the year, while prices in North America are likely to be supported by the Section 232 import tariffs in the United States.Asian outlook bearishEast Asian import prices for stainless steel are likely either to decline further or to hold relatively steady at low levels during...Read More
European mills producing hollow sections are unhappy with current pricing and intend to issue higher offer prices over the next few weeks, market sources told Metal Bulletin on Wednesday April 11."The development of tube prices does not match that of flat steel," one Southern European producer said."None of the pipemakers are happy with the current situation. They're all confronted with higher coi...Read More
Turkish pipe export prices have gone down slightly this month, in line with weak demand for such products and falling costs for pipe-making raw materials, sources said on Wednesday April 11.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $675-685 per tonne fob on April 11, down from last month's...Read More
Base metals prices on the London Metal Exchange are consolidating this morning, Wednesday April 11, following a strong recovery in the previous session. Copper and nickel were down by 0.5% and 0.4% respectively at the time of writing, while the rest were mostly unchanged - the exception being tin which was up by 0.5% at $21,030 per tonne. Volumes traded were somewhat lighter than usual, with 5,647...Read More
Japan's Ministry of Economy, Trade & Industry expects demand for steel to increase by 1.8% year on year in the April-June period - the first quarter of the country's 2018 financial year.The ministry said the rise would occur due to higher demand from the manufacturing and exports sector.Demand for steel in the manufacturing sector is expected to be boosted by a rise in industrial machine...Read More
SHANGHAI, Apr 11 (SMM) – Most base metals futures gained on Wednesday April 11 except for SHFE tin. Nickel rose over 1%, while copper, aluminium, lead, and zinc inched up.Ferrous metals went down across the board as coke led the loss with a 2.5% drop. Coking coal dipped nearly 1.7%, hot-rolled coil slid over 1%, while iron ore and rebar were down almost 1%.Copper: Dragged by the underperform...Read More
SHANGHAI, Apr 11 (SMM) – Most base metals futures gained on Wednesday April 11 except for SHFE tin. Nickel rose over 1%, while copper, aluminium, lead, and zinc inched up.Ferrous metals went down across the board as coke led the loss with a 2.5% drop. Coking coal dipped nearly 1.7%, hot-rolled coil slid over 1%, while iron ore and rebar were down almost 1%.Copper: Dragged by the underperform...Read More
SHANGHAI, Apr 11 (SMM) – Most base metals futures gained on Wednesday April 11 except for SHFE tin. Nickel rose over 1%, while copper, aluminium, lead, and zinc inched up.Ferrous metals went down across the board as coke led the loss with a 2.5% drop. Coking coal dipped nearly 1.7%, hot-rolled coil slid over 1%, while iron ore and rebar were down almost 1%.Copper: Dragged by the underperform...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade. U.S. index futures were virtually unchanged following release of the March Consumer Price report. Consensus was unchanged versus a gain of 0.2% in February. Actual was a drop of 0.1%. Excluding food and energy March Consumer Prices were expected to increase 0.2% versus a gain of 0.2% in...Read More
SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market traded at a discount of 30 yuan/mt to a premium of 40 yuan/mt on Wednesday April 11, SMM learned. This compared with a premium of 30-90 yuan/mt on the previous day.During the day, spot offers dipped in line with the SHFE 1806 contract which fell to 51,000 yuan/mt. While sellers were keen to destock, prices of higher-grade copper fel...Read More
SHANGHAI, Apr 11 (SMM) – Norilsk nickel in the Shanghai market was offered at a premium of 400 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on the morning of Wednesday April 11.Jinchuan nickel was offered at a premium of 900-1,000 yuan/mt and Jinchuan nickel plate was offered at 101,600 yuan/mt, SMM learned. Prices of nickel futures traded rangebound in the morni...Read More
SHANGHAI, Apr 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDespite potential lower tariffs indicated by Chinese President Xi Jinping, the US dollar edged down 0.23 to 89.6 overnight while the euro gained. Base metals rose across the board except for tin. LME aluminium climbed 3.7% to a record high in two months, driven by US s...Read More
SHANGHAI, Apr 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDespite potential lower tariffs indicated by Chinese President Xi Jinping, the US dollar edged down 0.23 to 89.6 overnight while the euro gained. Base metals rose across the board except for tin. LME aluminium climbed 3.7% to a record high in two months, driven by US s...Read More
SHANGHAI, Apr 11 (SMM) – Nickel ore prices are likely to stay weak in the second quarter of this year due to rising supply from Indonesia and the Philippines.SMM expects Indonesian medium-grade nickel ore with 1.65% Ni to trade at $35-37/wmt cif in May. This compared with $43.5-44.5/wmt recorded the first week of April.Indonesia’s nickel ore exports have been on the rise since the coun...Read More
SHANGHAI, Apr 11 (SMM) –Copper: As crude oil soared overnight, LME copper climbed above the 40- and 60-day moving averages as investors added their longs. It stood above the 60-day moving average at opening today and is likely to trade at $6,930-6,990/mt. The SHFE 1805 contract mostly traded between the 20- and 40-day moving averages with strong momentum overnight. We expect i...Read More
SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market was offered between a discount of 10 yuan/mt and a premium of 40 yuan/mt on the morning of Wednesday April 11, SMM learned. This compared with premiums of 50-90 yuan/mt on the morning of April 10. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our rese...Read More
SHANGHAI, Apr 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDespite potential lower tariffs indicated by Chinese President Xi Jinping, the US dollar edged down 0.23 to 89.6 overnight while the euro gained. Base metals rose across the board except for tin. LME aluminium climbed 3.7% to a record high in two months, driven by US s...Read More
Palisade Research April 11, 2018 Category: Research While the North American market for EV stocks is now reaching saturation, Boreal Metals (CVE:BMX, FRA:03E) is across the Atlantic with all of Europe to itself.In our latest update, the company acquired the Modum Project in Norway, Europe's highest-grade past producing cobalt mine.This morning the company announced the acquisition of the Mj??vatt...Read More
SHANGHAI, Apr 11 (SMM) –Copper: As crude oil soared overnight, LME copper climbed above the 40- and 60-day moving averages as investors added their longs. It stood above the 60-day moving average at opening today and is likely to trade at $6,930-6,990/mt. The SHFE 1805 contract mostly traded between the 20- and 40-day moving averages with strong momentum overnight. We expect i...Read More
SHANGHAI, Apr 11 (SMM) –Copper: As crude oil soared overnight, LME copper climbed above the 40- and 60-day moving averages as investors added their longs. It stood above the 60-day moving average at opening today and is likely to trade at $6,930-6,990/mt. The SHFE 1805 contract mostly traded between the 20- and 40-day moving averages with strong momentum overnight. We expect i...Read More