SHANGHAI, Apr 20 (SMM) –Copper: As most base metals went down overnight, LME copper dipped from highs to close at $6,962/mt. Technically, it remained above the 60-day moving average and touched the upper Bollinger Band. SHFE copper hit the 40-day moving average above with the five- and 10-day moving average rising. We expect LME copper to trade at $6,930-6,980/mt and SHFE 1805 at 51,200-51,7...Read More
The raising was swamped by international and domestic institutions, and the company is still set to pass around the hat to allow existing shareholders to feel they haven't been short-changed. A pro-rata entitlement issue will be on the same terms as the placement: A5.1c per share with one free 7.8c option exercisable by April 30, 2020, shortly after mining is planned to begin. The...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. First quarter earnings continue to pour in. Companies that reported since the close yesterday included General Electric, Honeywell, Rogers Communications, Schlumberger, Stanley Black & Decker, State Street, SunTrust and Waste Management.The Canadian Dollar dropped US 0.37 to 78.76 cents...Read More
Listen to this podcast on our site by clicking here or subscribe on iTunes here.FS Insider recently interviewed Dinny McMahon to discuss his must-read book, China's Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle. Dinny's 13 years living in China, working for the Wall Street Journal in Beijing and elsewhere, has culminated into...Read More
SHANGHAI, Apr 20 (SMM) – The nonferrous metals saw bleak performance today expect for SHFE tin. Nickel led a loss of 3%, aluminium dropped over 2%, copper slid close to 1%, with lead and zinc dipping.The ferrous complex fell across the board with coking coal leading a loss of over 2%. Coke lost 1.7%, rebar dropped over 1%, iron ore edged down close to 1%, with hot-rolled coil down slightly.C...Read More
The base price assessments for both flat and long stainless steel products in Europe have remained unchanged over the past week amid low market activity and volatility in the nickel price, sources told Metal Bulletin on Friday April 20.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was stable week-on-week at ?,?1,050-1,100 ($1,298-1,360) per...Read More
SHANGHAI, Apr 20 (SMM) – The nonferrous metals saw bleak performance today expect for SHFE tin. Nickel led a loss of 3%, aluminium dropped over 2%, copper slid close to 1%, with lead and zinc dipping.The ferrous complex fell across the board with coking coal leading a loss of over 2%. Coke lost 1.7%, rebar dropped over 1%, iron ore edged down close to 1%, with hot-rolled coil down slightly.C...Read More
SHANGHAI, Apr 20 (SMM) – The nonferrous metals saw bleak performance today expect for SHFE tin. Nickel led a loss of 3%, aluminium dropped over 2%, copper slid close to 1%, with lead and zinc dipping.The ferrous complex fell across the board with coking coal leading a loss of over 2%. Coke lost 1.7%, rebar dropped over 1%, iron ore edged down close to 1%, with hot-rolled coil down slightly.C...Read More
SHANGHAI, Apr 20 (SMM) – Yangshan copper premiums have continued to climb since the start of 2018, staying at levels higher than the benchmark of $75/mt for the most part.Offers with warehouse warrants were heard offered above $90/mt, SMM learned.This is because a tighter copper scrap supply has boosted consumption of imported copper cathode, as the import arbitrage window was open for a lon...Read More
High manganese ore prices and price dislocation between ore and alloy will cause further alloy market uncertainty, benefitting integrated producers, mining group OM Holdings (OMH) said in its annual report. Manganese ore markets soared in late 2017 and the first quarter of 2018, prompting a backlash among manganese alloy smelters in China when prices breached $8.00 per dry metric tonne unit (dmtu)...Read More
SHANGHAI, Apr 20 (SMM) – Norilsk nickel in the Shanghai market traded at a premium of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on Friday April 20, while Jinchuan traded at a premium of 500 yuan/mt, SMM learned.Jinchuan offered nickel plate at 105,800 yuan/mt.Traders were relatively keen to make offers. As nickel futures prices declined overnight, downstream consume...Read More
SHANGHAI, Apr 20 (SMM) – The arbitrage window for imported zinc has yet to open up despite some imported materials circulating in the market this week, SMM believed.Small amounts of zinc imports were heard to be in the Shanghai spot market this week, including materials from Australia, South Korea, Brazil, Spain and India. Offers of these materials were 10-30 yuan/mt lower than the domestic...Read More
China's ferrous futures trended downward during morning trading on Friday April 20 after a couple of days of strong gains. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,475 yuan ($553.50) per tonne, down 15 yuan per tonne October hot-rolled coil: 3,606 yuan per tonne, down 1 yuan per tonne Dalian Commodity Exchange September iron ore: 468.50 yuan per tonne, do...Read More
SHANGHAI, Apr 20 (SMM) – Indonesia's nickel ore exports are likely to increase from 5 million mt in 2017 to 10 million mt in 2018 as miners are keen to raise production, according to data by Indonesia's Ministry of Energy and Mineral Resources.As most Indonesian smelters expand, more miners have applied for the nickel export licences, said the ministry's director g...Read More
SHANGHAI, Apr 20 (SMM) –Copper: As most base metals went down overnight, LME copper dipped from highs to close at $6,962/mt. Technically, it remained above the 60-day moving average and touched the upper Bollinger Band. SHFE copper hit the 40-day moving average above with the five- and 10-day moving average rising. We expect LME copper to trade at $6,930-6,980/mt and SHFE 1805 at 51,200-51,7...Read More
SHANGHAI, Apr 20 (SMM) –Copper: As most base metals went down overnight, LME copper dipped from highs to close at $6,962/mt. Technically, it remained above the 60-day moving average and touched the upper Bollinger Band. SHFE copper hit the 40-day moving average above with the five- and 10-day moving average rising. We expect LME copper to trade at $6,930-6,980/mt and SHFE 1805 at 51,200-51,7...Read More
Adem Tumerkan April 20, 2018 Category: Research Nickel prices over the last year have been rallying - it's up over 15% in the last week alone. Even though nickel prices have soared to a three-year high – it still has a long way to go. . .I wrote about the opportunity in nickel months ago for our readers when the price was 11% less than it is today.Why am I so sure things are just g...Read More
Earnings before interest, tax, depreciation and amortisation rose to A$41 million for the quarter, while the EBITDA margin was 41%.Revenue was up by 22% quarter-on-quarter to $101.2 million, which the company attributed to a full quarter of contribution from newly acquired Force Equipment and the ramp-up of projects, taking utilisation to 61% at the end of the quarter."With operating EBITDA doubli...Read More
SHANGHAI, Apr 20 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates climb and upbeat momentum from an anticipated hike in interest rate buoyed the market, the US dollar index rose and closed at 89.879 overnight. It hit a high through the week at one point.Base metals fell across the board as th...Read More
Students at Colorado School of Mines, Metropolitan State University of Denver and University of Colorado Denver are helping tackle a major problem facing urban waterways in Denver and beyond.Trash."Every week, crews that work up and down mostly the South Platte River pull out enough trash to fill a 30-cubic-yard dumpster," said Devon Buckels, director of The Water Connection, the water resources a...Read More