SHANGHAI, Mar 16 (SMM) – Nonferrous metals regained some losses in this afternoon but remained weak at the end of the day. SHFE aluminium, zinc, and lead inched up, while copper, nickel, and tin dropped slightly. The ferrous complex saw mixed trading today as iron ore led losses with a drop over 1%. Rebar and coke edged down, while hot-rolled coil and coking coal inched up.Copper:...Read More

SHANGHAI, Mar 16 (SMM) – Nonferrous metals regained some losses in this afternoon but remained weak at the end of the day. SHFE aluminium, zinc, and lead inched up, while copper, nickel, and tin dropped slightly. The ferrous complex saw mixed trading today as iron ore led losses with a drop over 1%. Rebar and coke edged down, while hot-rolled coil and coking coal inched up.Copper:...Read More

Today is Quadruple Witching Day on Wall Street: the last trade day for March index and equity options and futuresU.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade. Index futures were virtually unchanged following release of the U.S. February Housing Starts report. Consensus was a drop to 1.264 million units from 1.329 million units in Janua...Read More

Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More

SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More

SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More

SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More

SHANGHAI, Mar 16 (SMM) – Social inventories of zinc in Shanghai, Guangdong and Tianjin stood at 265,100 mt as of Friday March 16, according to SMM data. This is up from 261,500 mt on Friday March 9. Social inventories in Shanghai and Tianjin declined, while those in Guangdong rose.Inventories are likely to dip as production recovers when the two political sessions end. For editoria...Read More

Iron ore output at Anglo American's Brazilian Minas-Rio operation is still halted after a slurry pipeline rupture, but shipments are not expected to be affected, it told Metal Bulletin on Friday March 16."So far, there is no impact forecast," the miner said. "There are around 700,000 tonnes of iron ore stocked, which is a sufficient volume to meet the shipping schedule of the next vessels."The com...Read More

SHANGHAI, Mar 16 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Friday March 16.Jinchuan nickel was offered at a discount of 100-0 yuan/mt, and Jinchuan nickel plate was offered at 102,000 yuan/mt, SMM learned.As nickel prices fell overnight, traders sold actively while dow...Read More

SHANGHAI, Mar 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar returned to stand above 90, following remarks from President Donald Trump's newly-appointed top economic advisor Larry Kudlow.Most nonferrous metals weakened. SHFE nickel and copper dropped about 1%. SHFE tin edged down slightly, while aluminium, zinc and...Read More

Base metals prices on the London Metal Exchange are for the most part stronger this morning, Friday March 16, with all of the metals, except tin, showing average gains of 0.4%. Copper is up by 0.5% at $6,956 per tonne, while tin is off by 0.1% at $20,970 per tonne. Volume has been light with 4,565 lots traded as of 06.29am London time. This follows a day of weakness on Thursday, with the complex c...Read More

SHANGHAI, Mar 16 (SMM) – Prices of zinc futures in the Shanghai market are likely to stablise, from declines in March, as demand grows and consumption improves, SMM data showed. Zinc prices weakened in early-March as operations recovered at concentrate mines but operation rates at smelters remained unchanged. A subsequent drop of 77,000 mt in LME inventories rattled the m...Read More

New long steel capacity in the pipeline in the Philippines may well disrupt trade flows in Asia once they come on stream, market sources told Metal Bulletin this week.This is because the Philippines could reduce its reliance on imports, which would result in seaborne cargoes being diverted elsewhere in the region. Major Philippine rebar producer SteelAsia Manufacturing Corp plans to increase its c...Read More

SHANGHAI, Mar 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar returned to stand above 90, following remarks from President Donald Trump's newly-appointed top economic advisor Larry Kudlow.Most nonferrous metals weakened. SHFE nickel and copper dropped about 1%. SHFE tin edged down slightly, while aluminium, zinc and...Read More

SHANGHAI, Mar 16 (SMM) –Copper: LME copper dipped under pressure from the strong dollar, but the pressure is expected to ease as the Federal Reserve's interest rates hike in March will weaken the upward momentum of US dollar. We see copper prices remaining rangebound in the short term while rising in the long term in anticipation of the destocking period. We expect LME copper to trade at...Read More

SHANGHAI, Mar 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar returned to stand above 90, following remarks from President Donald Trump's newly-appointed top economic advisor Larry Kudlow.Most nonferrous metals weakened. SHFE nickel and copper dropped about 1%. SHFE tin edged down slightly, while aluminium, zinc and...Read More

Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More

SHANGHAI, Mar 16 (SMM) –Copper: LME copper dipped under pressure from the strong dollar, but the pressure is expected to ease as the Federal Reserve's interest rates hike in March will weaken the upward momentum of US dollar. We see copper prices remaining rangebound in the short term while rising in the long term in anticipation of the destocking period. We expect LME copper to trade at...Read More

SHANGHAI, Mar 16 (SMM) –Copper: LME copper dipped under pressure from the strong dollar, but the pressure is expected to ease as the Federal Reserve's interest rates hike in March will weaken the upward momentum of US dollar. We see copper prices remaining rangebound in the short term while rising in the long term in anticipation of the destocking period. We expect LME copper to trade at...Read More