By Ellie Wang / January 03, 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 Wednesday January 3.
Zinc prices on the Shanghai Futures Exchange (SHFE) were well supported by falling overseas stock levels in Asian morning trading on Wednesday January 3, while copper pared overnight gains.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 0202 London time |
| Latest 3M LME Prices |
| | Price ($/t) | Change since yesterday's close ($) |
| Copper | 7200 | -16.5 |
Aluminium | 2256 | -9 |
Lead | 2558.5 | 0.5 |
Zinc | 3339 | -8 |
Tin | 19920 | 85 |
Nickel | 12570 | -85 |
| SHFE snapshot at 0202 Shanghai time |
| Most traded SHFE contracts |
| | Price (yuan/t) | Change since yesterday's close (yuan) |
| Copper (Feb) | 54910 | -340 |
Aluminium (Feb) | 15080 | 5 |
Zinc (Feb) | 25930 | 80 |
Lead (Feb) | 19360 | 340 |
Tin (May) | 144940 | -1000 |
Nickel (May) | 98900 | -270 |
See
here for the latest global ferro-alloy price list as reported by American Metal Market and Metal Bulletin price reporters.
Indonesia had awarded quotas for 20.4 million tonnes of nickel ore exports by November 2017 after its export ban was relaxed at the start of the year, but Chinese customs data shows that
only a small proportion of the ore was shipped to China, its biggest consumer.
The US Midwest aluminium premium has
remained flat this week, with market participants saying that high prices on the London Metal Exchange are keeping buyers on the sidelines in the short term.
Commercial Metals Company's acquisition of four Gerdau reinforcing bar mills will give the steelmaker a
dominant position in the US market, industry analysts said.
Click
here for a summary of base metals premiums across the globe for the week to Tuesday January 2.