China's rebar prices fell in both the domestic and export markets on Monday March 19 amid declining futures and weak demand. Domestic Eastern China (Shanghai): 3,730-3,800 yuan ($589-600) per tonne, down 50-60 yuan per tonne Northern China (Beijing): 3,870-3,900 yuan per tonne, down 30 yuan per tonne Rebar futures fell sharply in the first few minutes of trading, which led to a deterioration of se...Read More
The Chinese ferro-silicon spot market has stabilized losses in the past week, with support coming from magnesium production - a sizeable consumer of ferro-silicon. Chinese spot market halts downward drift but ample supply may drag in near term Europe prices stable, awaits second quarter settlements US market eases, but low stock levels offer support Chinese prices steady Chinese domes...Read More
Imported charge chrome prices outperformed Chinese ferro-chrome on Friday March 16, after the domestic market took a poor view of demand from the stainless sector. Charge chrome holds firm in ChinaChinese domestic ferro-chrome prices weakenAlloy prices holding in Japan, South KoreaUS alloy prices steadyEuropean spot prices weaken Charge chrome prices strengthened in China on Friday, supported by...Read More
SHANGHAI, Mar 19 (SMM) – Nonferrous metals remained weak today but inched up as the market closed. SHFE copper fell 1%, lead and nickel dipped nearly 1%, and zinc edged down. Aluminium remained flat while tin inched up.The ferrous complex fell across the board as iron ore led the slump and closed 4.5% lower. Coke and rebar lost over 2%, hot-rolled coil fell 1.5%, and coking coal ed...Read More
SHANGHAI, Mar 19 (SMM) – Nonferrous metals remained weak today but inched up as the market closed. SHFE copper fell 1%, lead and nickel dipped nearly 1%, and zinc edged down. Aluminium remained flat while tin inched up.The ferrous complex fell across the board as iron ore led the slump and closed 4.5% lower. Coke and rebar lost over 2%, hot-rolled coil fell 1.5%, and coking coal ed...Read More
SHANGHAI, Mar 19 (SMM) – Nonferrous metals remained weak today but inched up as the market closed. SHFE copper fell 1%, lead and nickel dipped nearly 1%, and zinc edged down. Aluminium remained flat while tin inched up.The ferrous complex fell across the board as iron ore led the slump and closed 4.5% lower. Coke and rebar lost over 2%, hot-rolled coil fell 1.5%, and coking coal ed...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Facebook dropped $6.49 to $178.60 on concerns about access to shared user data. Dana (DAN $26.41) is expected to open higher after the company raised its revenue guidance. Dr. Pepper Snapple (DPS $117.60) is expected to open higher after RBC Capital upgraded the stock to Outperform from...Read More
SHANGHAI, Mar 19 (SMM) – Prices of residential property in most Chinese cities continued to decline in February 2018, SMM learned.Data from the National Statistics Bureau covered 70 large and middle-sized cities and showed that prices of newly-built housing in 15 cities remained firm in February while prices in 12 cities dropped 0.1-0.6% month on month. On a yearly b...Read More
SHANGHAI, Mar 19 (SMM) – Prices of residential property in most Chinese cities continued to decline in February 2018, SMM learned.Data from the National Statistics Bureau covered 70 large and middle-sized cities and showed that prices of newly-built housing in 15 cities remained firm in February while prices in 12 cities dropped 0.1-0.6% month on month. On a yearly b...Read More
SHANGHAI, Mar 19 (SMM) – Prices of residential property in most Chinese cities continued to decline in February 2018, SMM learned.Data from the National Statistics Bureau covered 70 large and middle-sized cities and showed that prices of newly-built housing in 15 cities remained firm in February while prices in 12 cities dropped 0.1-0.6% month on month. On a yearly b...Read More
The European Commission has warned that it is prepared to impose temporary safeguard duties on imports into the European Union of US-made steel and aluminium in response to new US import duties on aluminium and steel imports. The EC has released a draft list of products which may in future attract retaliatory duties, including a wide range of aluminium and steel products, such as bars, rods, angle...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (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 Monday March 19, while Jinchuan stayed flat at 101,500 yuan/mt, SMM learned.While traders made offers actively due to ample supply, downstream customers took a wait-and-see approach. Trading was relatively thin with transactions d...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 260-220 yuan/mt on the morning of Monday March 19, SMM learned. This compared with discounts of 290-250 yuan/mt last Friday morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More
SHANGHAI, Mar 19 (SMM) –Copper: LME copper lost the support from the five- and 10-day moving averages as the US dollar strengthened, while its SHFE counterpart performed no better. We expect LME copper to trade at $6,830-6,900/mt today, with SHFE copper at 51,400-51,900 yuan/mt. Spot discounts are seen smaller at 250-200 yuan/mt.Aluminium: LME aluminium gradually fell with resistance at the...Read More
SHANGHAI, Mar 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightBase metals edged down as the US dollar climbed up from lows and hovered around 90.1. SHFE copper and nickel dipped, while other SHFE metals registered small gains. LME zinc and aluminium closed higher, while LME lead fell close to 1%. LME copper tumbled to a low t...Read More