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

Base metals traded on the London Metal Exchange have come under downward pressure this morning, Friday April 20, with the complex posting an average loss of 1.1% amid healthy trading volumes. Nickel (-2.9%) and aluminium (-1.1%) have been hit the most, which is not surprising after the substantial gains both metals made earlier this week. They remain the star performers in the week to date, with a...Read More

Editor's Note: On Wednesday, Doug Casey shared some of the stories behind his most successful speculations during a conversation with his prot?(C)g?(C), Nick Giambruno.Continue...Read More

Soon after coming to power last year NT Chief Minister Michael Gunner announced a review of NT taxes and charges amid reports that Glencore's massive MacArthur River zinc mine has paid almost no royalties since it opened in 1995, using deductions for capital investment to offset potential payments. While benefitting from a 20-year agreement to receive a A$5 million-a-year subsidy from the gov...Read More

The European Commission (EC) has decided to extend its existing anti-dumping duty of 60.4% on imports of China-origin steel ropes and cables, it said on Thursday April 19.The anti-dumping tariffs were set in 1999 and the latest decision comes after the third expiry review, extending measures at the same level for a further five years."The expiry review investigation found evidence that dumping fro...Read More

Global aluminium billet premiums were mostly higher this month, with US Treasury Department sanctions against Russian aluminium producer UC Rusal impacting the billet market. European premiums were most affected, with Germany and Italy billet premiums climbing by more than 40%. Brazil's import premium climbed to its highest level since December 2015, and the US upcharge hit its all-time high.Rusal...Read More

The war on cash has been going on for decades. The U.S. abolished the $500 bill in late 1969. (The old $500 bill featured a portrait of President William McKinley, by the way. I remember seeing a few when I was a kid.)Today’s $100 bill is only worth 10 cents on the dollar compared with the $100 bill of 1969.Europe will abolish the 500 euro this year. We all recall what happened in India in l...Read More

Glencore-owned Access World has delisted 12 of its 20 London Metal Exchange-registered warehouses in Vlissingen in The Netherlands amid outflows of aluminium stocks after sanctions were imposed by the United States on Russian producer UC Rusal.The LME announced the delisting in a notice to members on Friday April 20. This leaves Access World with just eight LME-listed warehouses in Vlissingen, whi...Read More

Divorce is expensive. On average, the cost of going through a divorce in the United States is around $20,000.I can think of a lot of ways to invest twenty grand that doesn't involve lining the pockets of lawyers or our legal system…The flip side is that weddings are expensive too.In fact, the cost of getting married is almost double that of filing for divorce. However, as I'm sure a lot of y...Read More

Prices for hot-rolled coil (HRC) imported into India from South Korea have fallen by about $30 per tonne in the past month, with a southern India-based end-user booking a large shipment at $660-665 per tonne cfr Chennai port this week.Importers based in the northern port of Mumbai were unsuccessful in booking the South Korean shipment, which comprised about 25,000 tonnes of HRC, although it was fi...Read More

After a week of strong rallies, nickel and aluminium closed the week lower on the London Metal Exchange, with the rest of the complex steady.Nickel's three-month price fell 1.6% to below the $15,000 per tonne mark, with volumes traded at 8,761 lots - much lower than the mid-week figure of 23,000 lots. The metal climbed to a high of $16,690 per tonne but struggled to find support after specula...Read More

The latest metal markets news and price moves to start the North American day on Friday April 20.Base metals held firm on the London Metal Exchange during morning trading, but the nickel price retreated back below $15,000 per tonne on profit-taking.Here's how LME base metals prices looked at 11.50am London time: "Base metals may experience more profit-taking today because most investors will be in...Read More

Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Friday April 20.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Friday, the exception being tin, which was marginally up on supply concerns due to export issues in Indonesia.Aluminium and nickel have undergone a particularly steep pullba...Read More

Marketing director Alex Tattersall has left UC Rusal's subsidiary in Zug, Switzerland, where uncertainty is high following sanctions imposed by the United States, well-informed sources said. The outlook for Rusal's US subsidiary, Rusal America Corp, is equally uncertain, although market rumors that the US office was officially shutting down this week were denied by Rusal's director of global expor...Read More

After a week of strong rallies, nickel and aluminium closed the week lower on the London Metal Exchange, with the rest of the complex steady.Nickel's three-month price fell 1.6% to below the $15,000 per tonne mark, with volumes traded at 8,761 lots - much lower than the mid-week figure of 23,000 lots. The metal climbed to a high of $16,690 per tonne but struggled to find support after specula...Read More

Comex copper prices experienced a modest gain Friday April 20 morning the US, with a surging dollar capping the potential upside. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.25 cents or 0.1% to $3.1345 per lb. "While supply should remain tight, we expect a pick-up in seasonal demand...Read More

Prices and trading activity in the physical iron ore market faltered on Friday April 20 after surging a day earlier.Metal Bulletin 62% Fe Iron Ore Index: $67.09 per tonne cfr Qingdao, down by $1.39 per tonneMetal Bulletin 58% Fe Premium Index: $55.68 per tonne cfr Qingdao, up by $0.76 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.90 per tonne cfr Qingdao, down by $1.60 per tonneMetal Bulletin...Read More

The light iron scrap market in the UK was unchanged for a second week in a row in the seven days to Friday April 20, with steady domestic demand counteracting a drop in export prices to key destinations such as the Turkey and the Indian subcontinent.The market has been stable for two weeks after price losses on the European export market in late March and early April.Metal Bulletin's weekly price...Read More

Ferrous scrap prices in the bulk sector dipped during the working week ended Friday April 20 due to downward pressure from Turkish import prices, which fell midweek in several trades for material from the United States and the Baltic Sea.But this downward trend was not seen in the containerized scrap import market. Taiwanese scrap import prices remained flat on sparse trading this week, while the...Read More

Hydro has halved bauxite output at its Paragominas mine in Brazil due to a government-imposed production cut at the company's Alunorte alumina refinery.Alunorte was ordered to operate at 50% of capacity in late February due to concerns that severe rainfall in Brazil's northern state of Par?? had resulted in water contamination from the refinery.Hydro has disputed the alleged contamination,&nb...Read More