Base Metal Stocks Articles

Cobalt price leaps $40-per-lb resistance barrier as demand intensifies

March 19, 2018 / Charlotte Radford

Cobalt prices have consolidated their move last week to more than $40 per lb, amid increased spot demand for metal against a backdrop of tight supplies, a limited number of sellers, and strong downstream demand."The days of sub-$40 [per lb] buying are history," a trader source said on Monday March 19.High-grade cobalt prices were assessed at $41.70-43.00 per lb, in-warehouse, on March 16. This was...Read More

SMM Morning Comments (Mar 19)

Mar 19 2018 / Staff reporter

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

SMM Morning Comments (Mar 19)

Mar 19 2018 / Staff reporter

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

RUSSIA FLAT STEEL: Traders reject high offers inflated by rouble weakness

March 19, 2018 / Marina Shulga

Steel traders in the central region of Russia, around Moscow, have held back from the markets in the past week and have not accepted higher offers for April-production hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was unchanged at 43,000-45,000 roubles ($747-782) cpt Moscow, including VAT, on Monday...Read More

CIS FLAT STEEL: Chinese competition puts pressure on markets

March 19, 2018 / Marina Shulga

Competition in the export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States has been intense over the past week, because suppliers preferred to hold back their offers despite a continued price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $605-625 per tonne fob Black Sea on Monday Mar...Read More

CIS STEEL BILLET: Customers become cautious amid falling prices in China

March 19, 2018 / Vlada Novokreshchenova

Several deals were heard secured early last week, after which buying activity in the CIS export billet market faded with downward sentiment starting to spread while prices fell in China."The market got frozen recently [and] people are watching Chinese prices falling significantly," an international trading source told Metal Bulletin.Metal Bulletin's export CIS Billet Index remained largely unchang...Read More

NORTH AMERICAN MORNING BRIEF 19/03: LME base metals start week on back foot; Q2 MJP aluminium benchmark; monthly aluminium billet, manganese wraps

March 19, 2018 / Ewa Manthey

The latest metal markets news and price moves to start the North American day on Monday March 19.Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected.Here's how base...Read More

EUROPEAN MORNING BRIEF 19/03: SHFE base metals prices all lower; cadmium market supported; non-ferrous price drivers shifting

March 19, 2018 / Echo Ma

Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Monday March 19.Base metal prices on the Shanghai Futures Exchange were all lower during Asian morning trading on Monday, with several factors including easing supply concerns, a stronger dollar and an upcoming United States monetary policy meeting pressuring copper prices in particular.Che...Read More

LORD COPPER: Corporations have the power to force cobalt supply chain reform

March 19, 2018 / Lord Copper

Lithium mostly hits the headlines in debate about increasing battery production, but it's probably not presently the mineral that worries the industry most. That distinction likely goes to cobalt, for a few reasons. It is - with today's technology - a vital part of lithium-ion batteries, which are those used in smartphones, laptops and other devices, including, importantly, the current generation...Read More

FOCUS: LME warehouse stocks soar by 14% at start of 2018

March 19, 2018 / Alice Mason

London Metal Exchange warehouse stocks have staged a recovery over the first few months of this year from the multi-year lows of 2017, due to a flurry of large deliveries across many of the base metals. After last year was marked by dwindling stock levels across the board, the first few months of 2018 have seen a reversal - with companies putting more metal back into LME-approved warehouses. "The...Read More

LIVE FUTURES REPORT 19/03: LME base metals lack clear direction; copper pressured by easing supply concerns

March 19, 2018 / Alice Mason

Base metals prices on the London Metal Exchange were mostly lower at the close on Monday March 19, while most prices lacked clear direction before Wednesday's Federal Open Market Committee (FOMC) meeting. Nickel prices declined $145 per tonne - the metal has come under sustained pressure since it hit $14,000 per tonne last week and cannot find new support."The combination of a strong dollar index...Read More

LIVE FUTURES REPORT 19/03: Comex copper sell-off persists into new week

March 19, 2018 / Dalton Barker

Comex copper prices slipped further Monday March 19 morning with the market in consolidation mode due to investors heading to the sidelines ahead of the Federal Reserve meeting.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 1.95 cents or 0.6% to $3.0890 per lb."While the consolidation in copper prices may run a little further on the back of an overall we...Read More

Steelmakers' improvement continues but industry still under pressure

March 19, 2018 / Robert Cartman

After suffering for some seven years through to 2015, the world's steelmakers have had cause for cheer over the past couple of years. After some heavy losses and write-downs, they finally appear to have emerged from the wreckage of the global financial crisis. An economic upswing has taken root in most regions of the world, Chinese steel output and export growth has slowed noticeably, and steel pr...Read More

FOCUS: LME warehouse stocks soar by 14% at start of 2018

March 19, 2018 / Alice Mason

London Metal Exchange warehouse stocks have staged a recovery over the first few months of this year from the multi-year lows of 2017, due to a flurry of large deliveries across many of the base metals. After last year was marked by dwindling stock levels across the board, the first few months of 2018 have seen a reversal - with companies putting more metal back into LME-approved warehouses. "The...Read More

LIVE FUTURES REPORT 19/03: LME base metals lack clear direction; copper pressured by easing supply concerns

March 19, 2018 / Alice Mason

Base metals prices on the London Metal Exchange were mostly lower at the close on Monday March 19, while most prices lacked clear direction before Wednesday's Federal Open Market Committee (FOMC) meeting. Nickel prices declined $145 per tonne - the metal has come under sustained pressure since it hit $14,000 per tonne last week and cannot find new support."The combination of a strong dollar index...Read More

FOCUS: Massive Spanish zinc movements into China upset premiums

March 19, 2018 / Julian Luk

Huge amounts of zinc ingots from Spain, both new and old stock, continue to enter the Chinese market after a significant inflow last year, which is leading to inventory build-up and depressed premiums, market participants have told Metal Bulletin.For the first month this year, Spain remained the biggest supplier of refined zinc to China, providing one-quarter of the total of 67,111 tonnes imported...Read More

LIVE FUTURES REPORT 19/03: Comex copper sell-off persists into new week

March 19, 2018 / Dalton Barker

Comex copper prices slipped further Monday March 19 morning with the market in consolidation mode due to investors heading to the sidelines ahead of the Federal Reserve meeting.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 1.95 cents or 0.6% to $3.0890 per lb."While the consolidation in copper prices may run a little further on the back of an overall we...Read More

US steel, aluminium exports in firing line as EU threatens retaliation over Trump duties

March 19, 2018 / INS - Keith Nuthall

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

NORTH AMERICAN MORNING BRIEF 19/03: LME base metals start week on back foot; Q2 MJP aluminium benchmark; monthly aluminium billet, manganese wraps

March 19, 2018 / Ewa Manthey

The latest metal markets news and price moves to start the North American day on Monday March 19.Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected.Here's how base...Read More

LIVE FUTURES REPORT 19/03: LME base metals start week on back foot due to stronger dollar

March 19, 2018 / Alice Mason

Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected. The three-month copper price is down $75 this morning and sits just above the $6,800 per tonne support barrier. The metal has come under pressure after supply concerns eased. "Base metals were largely weaker, led by copper, where concerns over supply disr...Read More

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