Base Metal Stock Articles

LIVE FUTURES REPORT 03/01: LME lead price rises while other base metals falter in quiet conditions

January 03, 2018 / Alice Mason

Base metals prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead the only metal to finish the day in positive territory. "Lead put in a steady performance while the rest of the metals faltered, underpinned by a positive fundamental picture and tighter LME conditions," Sucden Financial said. "With FOMC minutes from the December meeting due for release...Read More

2017 REVIEW: Ali climbs 34% in 2017; base metals complex strong but a year to forget for tin

January 03, 2018 / Alice Mason

2017 was a strong year for base metals on the London Metal Exchange with zinc, copper and aluminium all setting multi-year highs.The latest rally took place within the last few days of the year, with aluminium climbing to a yearly high of $2,290 per tonne on the last trading day of 2017, and just in time to make it the strongest performer of the year. "Copper [was] trading close to a four-year hig...Read More

2018 PREVIEW: Aluminium in 2018 hinges on geopolitical factors

January 03, 2018 / Kirk Maltais

The prospects for aluminium in 2018 appear tied to global trade concerns - particularly protectionist rhetoric coming from the United States as well as the future of supply cuts by Chinese smelters.In the US, the primary question mark dominating market attention is the fate of the Section 232 investigation into national security issues surrounding primary aluminium imports. According to recen...Read More

SMM Evening Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ? Nonferrous metals mostly moved lower today although lead was up 1.6%.The ferrous complex saw mixed trading with coking coal leading the gain with 2% rise and coke edging up. Rebar, hot-rolled coil and iron ore all dropped close to 1%.Copper: LME Copper dropped today and is expected to test support at the 10-day moving average. The US ISM manufacturing index in December...Read More

SMM Evening Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ? Nonferrous metals mostly moved lower today although lead was up 1.6%.The ferrous complex saw mixed trading with coking coal leading the gain with 2% rise and coke edging up. Rebar, hot-rolled coil and iron ore all dropped close to 1%.Copper: LME Copper dropped today and is expected to test support at the 10-day moving average. The US ISM manufacturing index in December...Read More

SMM Evening Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ? Nonferrous metals mostly moved lower today although lead was up 1.6%.The ferrous complex saw mixed trading with coking coal leading the gain with 2% rise and coke edging up. Rebar, hot-rolled coil and iron ore all dropped close to 1%.Copper: LME Copper dropped today and is expected to test support at the 10-day moving average. The US ISM manufacturing index in December...Read More

Tech Talk for Wednesday January 3rd 2018

03/01/2018 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.IBM gained $0.63 to $47.26 after RBC Capital upgraded the stock to Outperform from Sector Perform. Wendy's added $0.13 to $16.45 after SunTrust raised its target price to $22 from $17.McDonald's advanced $1.02 to $174.24 after SunTrust raised its target price to $205 from $178. Scana jumpe...Read More

SMM Morning Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ?Copper: LME copper prices continued to see corrections as longs took profits. We expect LME copper to trade at $7,170-7,280/mt today and SHFE copper at 54,800-55,400 yuan/mt. Spot copper discounts are to narrow to 150-90 yuan/mt following lower futures prices.Aluminium: Weaker momentum is seen for LME aluminium to trade higher and it is expected to hover in the range of...Read More

Analysis: Fire accident to cause nickel output loss at Jinchuan

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM) – The workshop that caught fire at Jinchuan Group’s nickel smelter on New Year’s Eve has an annual production capacity of 30,000 mt and it produces both refined nickel and electrowinning nickel, SMM understood.Total nickel production for Jinchuan’s smelter is targeted at 135,000 mt for 2018.The workshop, No.3, produces sulphide ore products and interme...Read More

Price rallies pause

03 January 2018 / Staff reporter

Base metals traded on the London Metal Exchange are for the most part weaker on Wednesday January 3, led by a 1% fall in nickel prices to $12,530 per tonne. The rest are off between 0.4% for copper and 0.8% for aluminium, while tin is bucking the trend with a 0.5% rise. Volume has been light, with 5,367 lots traded as of 06:35 am London time. This comes after a mixed performance on Tuesday that sa...Read More

SMM Morning Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ?Copper: LME copper prices continued to see corrections as longs took profits. We expect LME copper to trade at $7,170-7,280/mt today and SHFE copper at 54,800-55,400 yuan/mt. Spot copper discounts are to narrow to 150-90 yuan/mt following lower futures prices.Aluminium: Weaker momentum is seen for LME aluminium to trade higher and it is expected to hover in the range of...Read More

SMM Morning Comments (Jan 3)

Jan 03 2018 / Staff reporter

SHANGHAI, Jan 3 (SMM)? 1/4 ?Copper: LME copper prices continued to see corrections as longs took profits. We expect LME copper to trade at $7,170-7,280/mt today and SHFE copper at 54,800-55,400 yuan/mt. Spot copper discounts are to narrow to 150-90 yuan/mt following lower futures prices.Aluminium: Weaker momentum is seen for LME aluminium to trade higher and it is expected to hover in the range of...Read More

IRAN FLAT STEEL IMPORTS: Buying weak amid political unrest, CIS national holidays

January 03, 2018 / Vlada Novokreshchenova

Buying activity in Iran's hot-rolled coil (HRC) and cold-rolled coil (CRC) import market has been sluggish in the week ending Wednesday January 3.Sources told Metal Bulletin this was largely due to national holidays affecting suppliers in the CIS region, which is the leading supplier of steel to Iran.However, had CIS mills been active in the market, trading activity with Iran would hardl...Read More

2017 REVIEW: Ali climbs 34% in 2017; base metals complex strong but a year to forget for tin

January 03, 2018 / Alice Mason

2017 was a strong year for base metals on the London Metal Exchange with zinc, copper and aluminium all setting multi-year highs.The latest rally took place within the last few days of the year, with aluminium climbing to a yearly high of $2,290 per tonne on the last trading day of 2017, and just in time to make it the strongest performer of the year. "Copper [was] trading close to a four-year hig...Read More

GLOBAL NICKEL WRAP: Australian briquettes in China push to historic high

January 03, 2018 / Ellie Wang

Most global nickel premiums were flat, while new Chinese import duties pushed free-trade briquettes to China from Australia to a historic high. Chinese full plate premiums were flat on thin trading. European market sees no effect from new Chinese import duties after quiet start to 2018. US market quiet as well to start the new year.Briquettes from Australia to China see historic high after new imp...Read More

Metal Bulletin Aluminium Arbitrage Indicator January 2017

January 03, 2018 / Justin Yang

Freight and FOT components moved marginally during December.MARKET COMMENTARY:The differential between cancelling aluminium from London Metal Exchange warehouses in Asia and shipping it into the US Midwest was largely steady, with only marginal higher FOTs because of slight currency swings, for the month of December according to the Metal Bulletin Arbitrage indicator.The freight and FOT component...Read More

Brazil's CSN raises flat steel prices for automakers by 23%

January 03, 2018 / Ana Paula Camargo

Brazilian flat steel producer CSN has applied an increase of 23% in its annual pricing contracts to local automakers, effective Monday January 1, the company confirmed to Metal Bulletin on January 3.The adjustment is in line with higher raw materials costs and international flat steel prices, according to Brazil-based sources...Read More

Argentina's ArcelorMittal Acindar appoints Pena Luz CEO

January 03, 2018 / Felipe Peroni

Argentinian steelmaker ArcelorMittal Acindar has named Marcelo Marino Pena Luz its new chief executive officer, the company announced on Tuesday January 2.He replaces Jos?(C) Ignacio Giraudo in the position.Pena Luz was previously vice president of operations at ArcelorMittal's Long Steel division in...Read More

PRICING NOTICE: Late publishing of CIS, Russia, Turkey ferrous prices

January 03, 2018 / Metal Bulletin Editorial

Due to a technical error, the following prices were not published by Metal Bulletin Group on Monday January 1:CIS Export Semi-finished and Flat steelCIS Export Semi-finished and Long steelCIS Billet IndexRussia Domestic Long and Flat steelTurkey Domestic Ferrous Scrap AssessmentsAll prices were rolled over from the previous week, due to seasonal holidays.Metal Bulletin Group's Price Book has been...Read More

Turkish flat steel exports up 10% in November 2017

January 03, 2018 / Serife Durmus

Turkey's flat steel export volumes rose by 9.73% year on year in November, according to the latest data from the Turkish Statistical Institute (TUIK). The main reason for the increase was the fact that flat steel buyers placed orders in September after the summer slowdown in July and August, according to market participants. Additionally, export prices for Turkish flat steel products were highly c...Read More

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