SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%. Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.Volume has been average with 6,376 lots traded as of 6.59am L...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday January 22 on continued support from the weaker dollar.Lead prices closed back above $2,600 per tonne and close to seven-year high levels. The global refined lead market recorded a deficit of 169,000 tonnes year-to-date through November 2017, according to the International Lead & Zinc Study Group. "The st...Read More
Total volumes in all of the London Metal Exchange's futures and options contracts rose by 0.5% last year, which is hardly a dramatic result one way or the other, although it did at least halt a run of annual declines.Declines in aluminium and copper turnover were to an extent offset by increases in zinc, nickel and lead. As well, the exchange's new gold and silver contracts chipped in with some us...Read More
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.55 cents or 0.5% to $3.2030 per lb. Emerging demand outside of China and supply-side uncertainty...Read More
Germanium dioxide prices soared by 4.3% on Friday January 19 on the news that Teck Resources had declared a partial force majeure on metal sales from its zinc and lead smelting and refining complex, Trail Operations. Traders say germanium dioxide may soon start trading at a premium to germanium metal. Metal Bulletin assessed germanium prices at $1,350-1,450 per kg on an in-warehouse Rotterdam...Read More
Sentiment in the CIS export billet market turned negative in the week ended Monday January 22 amid a lack of activity and pressure arising from weakness in Chinese prices, Metal Bulletin has heard.There was almost no trading activity for CIS billet exports during the week."The market seems to have completely stopped," one trader said. "There is no liquidity."Another trader told Metal Bulletin that...Read More
Doe Run Peru's Cobriza copper mine and La Oroya polymetallic smelter will be auctioned separately on different dates in March and April in the hopes that this could finally attract buyers for the assets.Cobriza's first round of auction is scheduled for March 1, with the other rounds booked for March 15 and April 2, liquidator Dirige said to Metal Bulletin.Meanwhile, the auction dates for the smelt...Read More
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.55 cents or 0.5% to $3.2030 per lb. Emerging demand outside of China and supply-side uncertainty...Read More
Aurubis AG has acquired Codelco's share in Deutsche Giessdraht, the copper wire rod plant in Emmerich, Germany, that both producers jointly owned, Aurubis said on Monday January 22. The transaction is subject to approval by Germany's federal anti-trust office. The financial terms of the transaction were not disclosed. Before the acquisition, Aurubis had a 60% stake in Deutsche Giessdraht and Chile...Read More
The latest metal markets news and price moves to start the North American day on Monday January 22.Base metals prices on the London Metal Exchange were higher across the board in morning trading, with the dollar still weak.The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bulli...Read More
Base metals prices on the London Metal Exchange were higher across the board in morning trading on Monday January 22, with the dollar still weak. The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bullish tone for sister-metal zinc. "A growing market deficit, ongoing tightness i...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 22* Copper -$56.44 (-362.69 yuan) Aluminium -$492.77 (-3,166.58 yuan) Zinc -$164.87 (-1,059.48 yuan) Nickel -$364.27 (-2,340.83 yuan) *The physical arbitrage numbers...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%. Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.Volume has been average with 6,376 lots traded as of 6.59am L...Read More
The decision by the Brazilian government to suspend anti-dumping duties against hot-rolled coil (HRC) imports from China and Russia was motivated not only by fears that the measure would injure consuming sectors, but also by concerns that it would affect cooperation between the countries."The imposition of the [anti-dumping] measure could affect the political agenda of economic cooperation with tw...Read More
Crude steel output in Brazil increased by 9.90% year-on-year in 2017, according to figures released by national steel institute A??o Brasil on Monday January 22.Production reached 34.36 million tonnes, against 31.27 million tonnes in 2016.Last year's performance was slightly higher than A??o Brasil's forecast for November output of 34.15 million tonnes.But the institute noted that Brazilian crude...Read More
A new mill with capacity for 300,000-500,000 tonnes per year of reinforcing steel "could be the solution to a supply gap looming over the UK in the next decade," Andy Kirkcaldy, chairman of the British Independent Reinforcement Fabricators Association (Birfa), said on Monday January 22.Domestic rebar demand in the UK is expected to rise to 1.23 million tpy by 2030, up from 843,000 tonnes in 2015,...Read More
Chinese ferro-silicon prices have dropped for a third week in a row amid a resumption in production in key producing Ningxia province, while the European market reported deals within the current record high and prices in the United States were also unchanged amid tight availability. Chinese consumers bid lower for ferro-silicon but most capacity still idled Europe assessment holds at high,...Read More