You are here

Metals Industry News

NORTH AMERICAN MORNING BRIEF 23/01: Base metals dip lower on LME; record Chinese monthly refined copper output; Section 232 effect on ali prices

Base Metals Market - 3 hours 21 min ago
The latest metal markets news and price moves to start the North American day on Tuesday January 23.
Categories: Metals Industry News

SHFE vs LME physical arbitrage 23/01: Copper, aluminium, zinc, nickel

Base Metals Market - 5 hours 37 min ago
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 23*
Categories: Metals Industry News

LIVE FUTURES REPORT 23/01: LME copper prices under pressure after on-warrant stocks climb 28%

Base Metals Market - 5 hours 48 min ago
Base metals prices on the London Metal Exchange dipped lower across the board during morning trading on Tuesday January 23, with copper prices down 1.5%.
Categories: Metals Industry News

METALS MORNING VIEW 23/01: Metals face overhead resistance

Base Metals Market - 6 hours 35 min ago
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Tuesday January 23, with the complex up by an average of 0.3%.
Categories: Metals Industry News

Chinese refined zinc output dips 0.7% in 2017; lead production up

Base Metals Market - 9 hours 51 min ago
China, the world’s largest zinc producing country, produced 6.22 million tonnes of refined zinc in 2017, representing a decrease of 0.7% from the prior year, according to data published by the country’s National Bureau of Statistics (NBS) on Monday January 22.
Categories: Metals Industry News

China’s copper output hits all-time high in Dec; 2017 output up 7.7%

Base Metals Market - 10 hours 6 min ago
China’s monthly refined copper output reached an all-time high of 865,000 tonnes in December 2017, according to data released by the country’s National Bureau of Statistics (NBS) on Monday January 22.
Categories: Metals Industry News

EUROPEAN MORNING BRIEF 23/01: SHFE lead prices well supported, others lower; US Commerce Dept delivers Ali Section 232 report; possible near-term cap on copper prices seen

Base Metals Market - 11 hours 56 min ago
Good morning from Metal Bulletin’s office in Shanghai, as we bring you the latest news and pricing stories on Tuesday January 23.
Categories: Metals Industry News

LIVE FUTURES REPORT 23/01: SHFE copper leads base metals lower; lead prices supported by growing supply deficit

Base Metals Market - 12 hours 16 min ago
Copper prices on the Shanghai Futures Exchange gave back some of their gains from the previous session during Asian morning trading on Tuesday January 23, with concerns about increased supply weighing on prices.
Categories: Metals Industry News

LIVE FUTURES REPORT 22/01: LME lead, ali prices rally; tin hits fresh 2018 high amid tight market

Base Metals Market - Mon, 01/22/2018 - 17:24
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday January 22 on continued support from the weaker dollar.
Categories: Metals Industry News

Doe Run Peru’s assets will go to auction separately in March and April

Base Metals Market - Mon, 01/22/2018 - 16:41
Doe Run Peru’s Cobriza copper mine and La Oroya polymetallic smelter will be auctioned separately on different dates in March and April in the hopes that this could finally attract buyers for the assets.
Categories: Metals Industry News

LIVE FUTURES REPORT 22/01: Comex copper price recovers in Monday session

Base Metals Market - Mon, 01/22/2018 - 15:30
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index.
Categories: Metals Industry News

Aurubis acquires Codelco's stake in German copper wire rod producer

Base Metals Market - Mon, 01/22/2018 - 14:46
Aurubis AG has acquired Codelco's share in Deutsche Giessdraht, the copper wire rod plant in Emmerich, Germany, that both producers jointly owned, Aurubis said on Monday January 22.
Categories: Metals Industry News

NORTH AMERICAN MORNING BRIEF 22/01: LME base metals open higher; copper price outlook; South32 production results

Base Metals Market - Mon, 01/22/2018 - 12:00
The latest metal markets news and price moves to start the North American day on Monday January 22.
Categories: Metals Industry News

LIVE FUTURES REPORT 22/01: LME base metals open week higher amid weak dollar

Base Metals Market - Mon, 01/22/2018 - 10:28
Base metals prices on the London Metal Exchange were higher across the board in morning trading on Monday January 22, with the dollar still weak.
Categories: Metals Industry News

SHFE vs LME physical arbitrage 22/01: Copper, aluminium, zinc, nickel

Base Metals Market - Mon, 01/22/2018 - 09:55
The arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 22*
Categories: Metals Industry News

Metal prices start the week on a strong footing

Base Metals News - Mon, 01/22/2018 - 08:50

Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%.

Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.

Volume has been average with 6,376 lots traded as of 6.59am London time.

The precious metals complex is mixed this morning with bullion prices down either side of 0.3% with gold prices at $1,330 per oz and silver prices at $17 per oz, while the platinum group metals are up either side of 0.6% with platinum prices up by 0.7% ($1,017 per oz) and palladium prices up by 0.5% ($1,113 per oz).

On the Shanghai Futures Exchange today, base metals prices are for the most part stronger with nickel prices leading the way with a gain of 1.8%, followed by tin prices that are up by 1.5%, zinc prices that are up by 0.7% and copper prices that are up by 0.2% at 53,840 yuan ($8,410) per tonne. Aluminium and lead prices are down by 0.4% and 0.2% respectively. Spot copper prices in Changjiang are up by 0.7% at 53,370-53,470 yuan per tonne and the LME/Shanghai copper arbitrage ratio has firmed to 7.59, up from 7.53 on Friday.

In other metals in China, iron ore prices are up by 0.7% at 540.50 yuan per tonne on the Dalian Commodity Exchange. On the SHFE, steel rebar prices are up by 1.2%, while gold and silver prices are little changed.

Equities in Asia are mainly positive today: CSI 300 (1.19%), Nikkei (0.03%), (0.33%), Hang Seng (0.41%), while the Kospi and the ASX 200 are down by 0.72% and 0.23% respectively. This follows a strong performance in western markets on Friday, where in the United States the Dow Jones closed up by 0.21% at 26,071.72, and in Europe where the Euro Stoxx 50 closed up by 0.78% at 3,649.07.

The dollar index at 90.54 is consolidating in low ground. The low in September was at 91.01 and last Wednesday’s low was at 90.11. So the 2017 downward trend is continuing into 2018. On the back of dollar weakness, the other currencies are strong but consolidating recent gains: euro (1.2236), sterling (1.3893), yen (110.79) and the Australian dollar (0.7995). The yuan has broken through resistance at 6.4345, it has been as high as 6.4149, the strongest it has been since December 2015. Most of the emerging currencies we follow are stronger too, which shows a degree of risk-on and confidence.

The economic agenda is light today – there is a Eurogroup meeting and German Bundesbank monthly report.

The base metals are for the most part looking buoyant, copper prices seem to be the ones struggling the most on the upside, with prices moving sideways either side of $7,100 per tonne, while the rest are working higher. With prices in high ground there is bound to be more selling around, especially when prices break into new high ground, but the fact prices are generally holding up well suggests underlying sentiment remains bullish.

The precious metals prices are generally strong, but the prices are consolidating recent gains. We should get a feel for how strong underlying sentiment is by seeing how far prices slip during this consolidation.

Metal Bulletin publishes live futures reports throughout the day, covering major metals exchanges news and prices.

The post Metal prices start the week on a strong footing appeared first on FastMarkets.

Categories: Metals Industry News

METALS MORNING VIEW 22/01: Metals start the week on a strong footing

Base Metals Market - Mon, 01/22/2018 - 08:50
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%.
Categories: Metals Industry News

FORECAST: Copper prices to remain well-supported - BCA Research

Base Metals Market - Mon, 01/22/2018 - 08:48
While a slowdown in China remains a risk to copper demand, emerging demand outside of China and supply-side uncertainty this year will keep prices well supported, according to Robert Ryan, senior vice president of commodity & energy strategy at BCA Research.
Categories: Metals Industry News

South32’s nickel output at Cerro Matoso rises 12% in Oct-Dec, output guidance unchanged

Base Metals Market - Mon, 01/22/2018 - 07:48
Payable nickel production at South32’s Cerro Matoso operation in Colombia rose by 12% year on year to 10,100 tonnes during the second fiscal quarter ended December 31, 2017, according to the miner’s quarterly production report released last week.
Categories: Metals Industry News

South32 reports lower lead, zinc production in Oct-Dec

Base Metals Market - Mon, 01/22/2018 - 07:19
South32 recorded lower lead and zinc production during its second fiscal quarter ended December 31, 2017, the company announced last week.
Categories: Metals Industry News

Pages

Subscribe to Allied Metal Group aggregator - Metals Industry News
Site content copyright © The Allied Metal Group, Inc.