By Ellie Wang / January 02, 2018 / www.metalbulletin.com /
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Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Tuesday January 2.
Copper prices on the Shanghai Futures Exchange (SHFE) fell during the Asian morning session on the first trading day of 2018 after China's official Purchasing Managers' Index (PMI) came in below market expectations.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 0251 London time |
Latest 3M LME Prices |
| Price ($/t) | Change since yesterday's close ($) |
Copper | 7216.5 | -35 |
Aluminium | 2262 | -18 |
Lead | 2396.5 | -101.5 |
Zinc | 3296 | -20 |
Tin | 20000 | 5 |
Nickel | 12520 | -125 |
| SHFE snapshot at 0251 Shanghai time |
| Most traded SHFE contracts |
| | Price (yuan/t) | Change since yesterday's close (yuan) |
Copper (Feb) | 54970 | -500 |
Aluminium (Feb) | 15065 | -160 |
Zinc (Feb) | 25760 | 35 |
Lead (Feb) | 18970 | -200 |
Tin (Jan) | 143240 | 440 |
Nickel (Jan) | 97400 | 1000 |
High-grade manganese ore prices
edged lower on Friday December 29 as fresh customs data showed rising imports to China and silico-manganese futures prices looked weaker.
All members of the China Smelters Purchase Team (CSPT) have
agreed to adopt $82.25 per tonne and 8.225 cents per lb as the benchmark for treatment and refining charges (TC/RCs) in 2018, the CSPT told Metal Bulletin on Friday December 29.
Market participants continue to hold
a
positive view on Asian aluminium premiums heading into 2018, with premiums in the region expected to stay relatively well-supported, although some note that large upside gains may be checked by ample supply.
Turkey's imports of flat steel
increased by 25.09% year on year in November 2017, according to the Turkish Statistical Institute (TUIK).
The Turkish deep-sea scrap market
remained quiet at the end of last week due to the New Year holiday period.