SHANGHAI, Apr 17 (SMM) – Spot copper in the Shanghai market was offered at a premium of 190-250 yuan/mt over the SHFE 1805 contract on Tuesday April 17, SMM learned. This compared with a premium of 40-100 yuan/mt over the 1804 contract the previous day.Spot premiums are unlikely to stay at high levels in the short term as sellers were keen to destock while buyers mostly purchased as needed d...Read More
SHANGHAI, Apr 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates declined, the US dollar index fell 0.41% overnight and hovered around 89.4. Base metals rose across the board, with LME metals driving their SHFE counterparts. LME aluminium rose close to 5% and hit a new high since September 2011 at one...Read More
Tin looks weak LME tin is...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&#...Read More
The company said the suspension was expected to have little impact on overall production as its subsidiary Henan Found's milling capacity was about 25% higher than the mining capacity.Read More
SHANGHAI, Apr 17 (SMM) – In the first three months of this year, China produced 212.15 million mt of crude steel, up 5.4% year on year, according to latest data from the National Bureau of Statistics.The output of aluminium stood at 8.12 million mt, up 0.3% on the year.The output of nonferrous metals stood at 13.39 million mt, up 2.4% on the year. For editorial queries, please cont...Read More
SHANGHAI, Apr 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates declined, the US dollar index fell 0.41% overnight and hovered around 89.4. Base metals rose across the board, with LME metals driving their SHFE counterparts. LME aluminium rose close to 5% and hit a new high since September 2011 at one...Read More
SHANGHAI, Apr 17 (SMM) –Copper: A fall in the US dollar pushed up copper prices overnight. LME copper stood above the 20-day moving average and touched a high of the 60-day moving average. The SHFE 1806 contract also stood at the 20-day moving average with much upward room. We expect LME copper to trade at $6,850-6,920/mt today and the SHFE contract to trade at 50,500-51,000 yuan/mt. Spot pr...Read More
Bears react to SRB destocking news ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon...Read More
SHANGHAI, Apr 17 (SMM) –Copper: A fall in the US dollar pushed up copper prices overnight. LME copper stood above the 20-day moving average and touched a high of the 60-day moving average. The SHFE 1806 contract also stood at the 20-day moving average with much upward room. We expect LME copper to trade at $6,850-6,920/mt today and the SHFE contract to trade at 50,500-51,000 yuan/mt. Spot pr...Read More
SHANGHAI, Apr 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates declined, the US dollar index fell 0.41% overnight and hovered around 89.4. Base metals rose across the board, with LME metals driving their SHFE counterparts. LME aluminium rose close to 5% and hit a new high since September 2011 at one...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
SHANGHAI, Apr 17 (SMM) –Copper: A fall in the US dollar pushed up copper prices overnight. LME copper stood above the 20-day moving average and touched a high of the 60-day moving average. The SHFE 1806 contract also stood at the 20-day moving average with much upward room. We expect LME copper to trade at $6,850-6,920/mt today and the SHFE contract to trade at 50,500-51,000 yuan/mt. Spot pr...Read More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
Fears that a global trade war would swiftly follow the imposition of Section 232 tariffs by the United States have been overplayed, World Steel Association (Worldsteel) director-general Edwin Basson has said, launching its latest short-range forecast.The tariff debate is moving further and further away from steel, according to Basson, who said that initial fears of a significant effect on steel pr...Read More
Base metals prices had a strong start to the trading week after a solid close on Monday April 16. Two metals dominated the headlines yesterday: the London Metal Exchange’s three-month aluminium price continued its vertical surge, while nickel closed above $14,000 per tonne amid growing concerns that the United States could implement additional sanctions on Russia. But overnight news suggests...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) reduced shipments of steel products to foreign customers by 20.7 % year on year, to 605,000 tonnes in the first quarter of 2018, the company said on Tuesday April 17.Russia's Magnitogorsk Iron & Steel Works (MMK) reduced shipments of steel products to foreign customers by 20.7 % year on year, to 605,000 tonnes in the first quarter of 2018, the co...Read More
The stoppage of Anglo American's Minas-Rio iron ore operation in Brazil will have an effect, albeit a small one, on worldwide supplies and prices of high-grade materials.The miner first halted iron ore output at its venture on Monday March 12, after a rupture of the slurry pipeline designed to transport material from the mining site in Minas Gerais state to the port terminal in Rio de Janeiro stat...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) reduced shipments of steel products to foreign customers by 20.7 % year on year, to 605,000 tonnes in the first quarter of 2018, the company said on Tuesday April 17.Russia's Magnitogorsk Iron & Steel Works (MMK) reduced shipments of steel products to foreign customers by 20.7 % year on year, to 605,000 tonnes in the first quarter of 2018, the co...Read More
The company said it achieved record sales volumes for a first quarter of iron ore and pellets, of 84.3 million tonnes, compared with 77.9Mt in the previous corresponding period."Vale SA maintained a strong supply and sales discipline in 1Q18 as part of its commitment to maximise margins over volume," the company said.Iron ore production was 82Mt for the quarter, some 4.2Mt lower than the first qua...Read More
China's crude steel and finished steel output remained in an upward trend in March.The country produced 73.98 million tonnes of crude steel in March, up 4.5% from a year earlier, the National Bureau of Statistics (NBS) said on Tuesday April 17. China's...Read More