Steel producers in Russia have increased their offers to the domestic markets for April-production hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was 43,000-45,000 roubles ($759-794) per tonne cpt Moscow, including VAT, on Monday March 12, widening upward from 43,000 roubles per tonne a week earlier....Read More
Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States continued to be in bullish mood in the week ended Monday March 12, despite a rapid price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $610-625 per tonne fob Black Sea on March 12, narrowing upward from $590-625 per tonne fob Black Se...Read More
The latest metal markets news and price moves to start the North American day on Monday March 12.Base metals prices on the London Metal Exchange dipped slightly during morning trading on Monday March 12 while looking to consolidate Friday's rally.Here's how base metals...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Adobe gained $2.29 to 233.40 after Stifel Nicolaus raised its target price to $230 from $210. E Trade added $0.68 to $57.92 after Raymond James upgraded the stock to Strong Buy from Outperform.Merck added $0.56 to $55.70 after Leerink upgraded the stock to Outperform from Market Perform....Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Monday March 12.Base metals traded on the Shanghai Futures Exchange were up across the board during Asian morning trading on Monday, with nickel leading the pack higher.The most-traded July nickel contract on the SHFE stood at 104,530 yuan ($16,508) per tonne as of 02.48am London time, up...Read More
SHANGHAI, Mar 12 (SMM) – Spot copper in the Shanghai market traded at a discount of 40 yuan/mt to a premium of 20 yuan/mt today. The afternoon saw more active trading of lower-grade copper as downstream consumers restocked. Prices stood at a discount of 140-120 yuan/mt.At noon, higher-grade copper traded at 51,520-51,620 yuan/mt, SMM learned. For editorial queries, please cont...Read More
SHANGHAI, Mar 12 (SMM) – Lower inventories of nickel are likely to support prices in the short term, given little pressure from imports from the Philippines and Indonesia, SMM expects. This is despite the modest rebound in consumption of stainless steel driven by high social inventories in Wuxi and Foshan. SHFE nickel slumped on Thursday March 8 given high social inventories o...Read More
SHANGHAI, Mar 12 (SMM) – China's industry for new energy cars is likely to see faster growth, supported by new targets in the 2018 government work report, said chairman of the Beijing Automobile Group, Xu Heyi.The report highlighted that promoting new energy vehicles is part of China's drive to become a globally competitive manufacturing nation.A power network for...Read More
SHANGHAI, Mar 12 (SMM) – China's industry for new energy cars is likely to see faster growth, supported by new targets in the 2018 government work report, said chairman of the Beijing Automobile Group, Xu Heyi.The report highlighted that promoting new energy vehicles is part of China's drive to become a globally competitive manufacturing nation.A power network for...Read More
SHANGHAI, Mar 12 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Monday March 12.Jinchuan was offered at a discount of 100-0 yuan/mt, and Jinchuan nickel plate was offered at 103,700 yuan/mt, SMM learned.Trading was weak after nickel prices jumped overnight. Trades were heard at 1...Read More
SHANGHAI, Mar 12 (SMM) – This is a roundup of global macro-economic news last weekend and what is expected today.Last Friday nightBase metals rose across the board as the US dollar slipped. SHFE nickel jumped over 4% and copper and zinc rose over 1%. LME metals, except tin, rebounded from touching a low at one point. Nickel saw the biggest growth since February. Copper, zinc and lead rose ab...Read More
SHANGHAI, Mar 12 (SMM) – This is a roundup of global macro-economic news last weekend and what is expected today.Last Friday nightBase metals rose across the board as the US dollar slipped. SHFE nickel jumped over 4% and copper and zinc rose over 1%. LME metals, except tin, rebounded from touching a low at one point. Nickel saw the biggest growth since February. Copper, zinc and lead rose ab...Read More
SHANGHAI, Mar 12 (SMM) – Nickel ore export from the Philippines is expected to drop to 550,000 wmt in February, due to adverse weather conditions, SMM calculated according to publicly available data. This is about 4,600 mt in metal content, down 43% month on month.Exports of nickel ore from Indonesia is likely to stand at 1.93 million wmt in February, up 27% month on month.Mid-gra...Read More
SHANGHAI, Mar 12 (SMM) –Copper: As the US dollar weakened and the US' February nonfarm payrolls performed well, nonferrous metals rebounded across the board and SHFE copper stood above 52,000 yuan/mt. But the pickup was limited by the anticipated trade war. We see it trading at 51,800-52,300 yuan/mt and LME copper trading at $6,950-7,000/mt today. In the physical market, spot discounts a...Read More
SHANGHAI, Mar 12 (SMM) –Copper: As the US dollar weakened and the US' February nonfarm payrolls performed well, nonferrous metals rebounded across the board and SHFE copper stood above 52,000 yuan/mt. But the pickup was limited by the anticipated trade war. We see it trading at 51,800-52,300 yuan/mt and LME copper trading at $6,950-7,000/mt today. In the physical market, spot discounts a...Read More
SHANGHAI, Mar 12 (SMM) – Supply shortages of nickel concentrate in China are likely to end by 2021, showed SMM data. Global supplies fell in recent years as prices of nickel weakened. The decline in imports of nickel concentrate led to the subsequent decrease in supplies in 2015-2017. In addition, a major producer of nickel pig iron (NPI) in south China raised...Read More
SHANGHAI, Mar 12 (SMM) – China's industry for new energy cars is likely to see faster growth, supported by new targets in the 2018 government work report, said chairman of the Beijing Automobile Group, Xu Heyi.The report highlighted that promoting new energy vehicles is part of China's drive to become a globally competitive manufacturing nation.A power network for...Read More