SHANGHAI, Mar 21 (SMM) – Nonferrous metals were weak today with SHFE zinc leading the loss with a drop of 1.7%. Copper fell 1.5% while aluminium, nickel, and tin edged down. Lead slumped near closing and closed flat from Tuesday March 20.The ferrous complex saw mixed trading today. Iron ore gained nearly 1%, while coke and coking coal inched up. Hot-rolled coil dropped over 2% and rebar dipp...Read More

SHANGHAI, Mar 21 (SMM) – Nonferrous metals were weak today with SHFE zinc leading the loss with a drop of 1.7%. Copper fell 1.5% while aluminium, nickel, and tin edged down. Lead slumped near closing and closed flat from Tuesday March 20.The ferrous complex saw mixed trading today. Iron ore gained nearly 1%, while coke and coking coal inched up. Hot-rolled coil dropped over 2% and rebar dipp...Read More

SHANGHAI, Mar 21 (SMM) – Nonferrous metals were weak today with SHFE zinc leading the loss with a drop of 1.7%. Copper fell 1.5% while aluminium, nickel, and tin edged down. Lead slumped near closing and closed flat from Tuesday March 20.The ferrous complex saw mixed trading today. Iron ore gained nearly 1%, while coke and coking coal inched up. Hot-rolled coil dropped over 2% and rebar dipp...Read More

U.S. equity index futures were mixed this morning prior to news this afternoon at 2:00 PM EDT from the FOMC meeting. S&P 500 futures were down 2 points in pre-opening trade.FedEx slipped $0.19 to $251.80 despite reporting higher than consensus quarterly sales and earnings. In addition, Stifel Nicolaus and JP Morgan raised their target price on the stock.General Mills dropped $2.93 to $47.00 af...Read More

Scandinavia has been a happy hunting ground for Mincon in the past 12 months.Read More

SHANGHAI, Mar 21 (SMM) – Prices of prebaked anode will continue to tumble as supply grows after production restrictions are lifted at the end of the heating season, SMM believed. SMM sees downward room in prices, which have declined for three consecutive months. According to SMM, profit margins could be significant if current cash costs for prebaked anode are capped ...Read More

SHANGHAI, Mar 21 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Wednesday March 21, while Jinchuan traded at a premium of 100 yuan/mt, SMM learned.Jinchuan offered nickel plate at 101,200 yuan/mt today.As nickel futures traded in a tight range in the morning, traders made offers actively due t...Read More

SHANGHAI, Mar 21 (SMM) – The zinc spot market in Shanghai saw more transactions on Wednesday March 21 as 0# zinc traded at 24,400-24,500 yuan/mt. Downstream consumers purchased more actively as prices of zinc declined, SMM learned.The 0# common brand traded at a discount of 60-50 yuan/mt against the SHFE 1804 contract, the 0# Shuangyan brand at a discount of 40-30 yuan/mt, and...Read More

SHANGHAI, Mar 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by bullish sentiment on the US economy and an expected hike in interest rates, the US dollar rebounded to 90. Weak economic data for the eurozone also bolstered the greenback.However, nonferrous metals fell across the board under pressure from the strong dollar. LME...Read More

SHANGHAI, Mar 21 (SMM) – Prices of prebaked anode will continue to tumble as supply grows after production restrictions are lifted at the end of the heating season, SMM believed. SMM sees downward room in prices, which have declined for three consecutive months. According to SMM, profit margins could be significant if current cash costs for prebaked anode are capped ...Read More

SHANGHAI, Mar 21 (SMM) – Prices of prebaked anode will continue to tumble as supply grows after production restrictions are lifted at the end of the heating season, SMM believed. SMM sees downward room in prices, which have declined for three consecutive months. According to SMM, profit margins could be significant if current cash costs for prebaked anode are capped ...Read More

Central bank credit that supports markets - is not just creation of the Fed, but by central banks and institutions around the world colluding together. Global markets are too deeply connected these days to consider the Fed in isolation.Since last month's correction, the world has been watching the Fed because its policies have global implications. And worldwide sell-offs sent a clear sign to Fed C...Read More

SHANGHAI, Mar 21 (SMM) –Copper: Copper prices remained under pressure given high inventories and worries of a potential trade war. We expect LME copper to fall to the $6,700/mt level in the short term but with upward momentum in the mid and long term. We see it trading at $6,730-6,790/mt today, with the SHFE 1805contract trading at 50,500-51,000 yuan/mt. In the physical market, dow...Read More

SHANGHAI, Mar 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by bullish sentiment on the US economy and an expected hike in interest rates, the US dollar rebounded to 90. Weak economic data for the eurozone also bolstered the greenback.However, nonferrous metals fell across the board under pressure from the strong dollar. LME...Read More

SHANGHAI, Mar 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by bullish sentiment on the US economy and an expected hike in interest rates, the US dollar rebounded to 90. Weak economic data for the eurozone also bolstered the greenback.However, nonferrous metals fell across the board under pressure from the strong dollar. LME...Read More

SHANGHAI, Mar 21 (SMM) –Copper: Copper prices remained under pressure given high inventories and worries of a potential trade war. We expect LME copper to fall to the $6,700/mt level in the short term but with upward momentum in the mid and long term. We see it trading at $6,730-6,790/mt today, with the SHFE 1805contract trading at 50,500-51,000 yuan/mt. In the physical market, dow...Read More

SHANGHAI, Mar 21 (SMM) –Copper: Copper prices remained under pressure given high inventories and worries of a potential trade war. We expect LME copper to fall to the $6,700/mt level in the short term but with upward momentum in the mid and long term. We see it trading at $6,730-6,790/mt today, with the SHFE 1805contract trading at 50,500-51,000 yuan/mt. In the physical market, dow...Read More

Key data from the Wednesday March 21 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al), $ per kg, delivered duty-paid in EuropeTodayPreviousChange to midpoint of rangeMidpoint % change4.655.3-0.075-1Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn), $ per lb, cif European ports...Read More

The Federal Reserve, under new chairman Jerome "Jay" Powell, raised the federal funds target rate 25 basis points today. It was Powell's first significant move as the new chairman of the Federal Reserve.Let me first give my opinion of Jay Powell before weighing on the implications of today's decision.I worked with Jay Powell when he was at the U.S. Treasury and I was general counsel of a major pri...Read More

Mills across Europe producing hollow steel sections have continued this week to be largely unsuccessful in raising their prices for tube products because many producers are in need of bookings, sources told Metal Bulletin on Wednesday March 21."They've been trying for several weeks, but they've been unsuccessful. If they don't get orders, they can't raise their prices, and they are all in urgent n...Read More