By Karen Ng / March 07, 2018 / www.metalbulletin.com /
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Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Wednesday March 7.
Aluminium prices on the Shanghai Futures Exchange weakened during Asian morning trading on Wednesday, after market participants were left with little to cheer about due to the uncertainty surrounding China's plans for further aluminium capacity cuts this year.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 02.00am London time |
| Latest three-month LME Prices |
| Price ($ per tonne) | Change since yesterday's close ($) |
| Copper | 6,962.5 | -41.5 |
| Aluminium | 2,144 | -3 |
| Lead | 2,426 | -12 |
| Zinc | 3,310 | 8 |
| Tin | 21,445 | 15 |
| Nickel | 13,520 | -160 |
| SHFE snapshot at 10.00am Shanghai time |
| Most-traded SHFE contracts |
| Price (yuan per tonne) | Change since yesterday's close (yuan) |
| Copper (May) | 52,460 | -160 |
| Aluminium(May) | 14,400 | -40 |
| Zinc(May) | 25,445 | 50 |
| Lead(April) | 18,735 | 95 |
| Tin (May) | 146,370 | -220 |
| Nickel (July) | 102,850 | 20 |
Global aluminium premiums generally ticked higher over the past week, following US President Donald Trump's announcement that he intends to impose a 10% tariff on aluminium imports into the United States.
Spain's Atlantic Copper will be looking
to maximize output at its Huelva smelter even as it expects the copper concentrates market to tighten further, the company's chief executive officer Javier Targhetta said.
The
changing dynamics of bauxite and alumina markets have demanded an evolution in the means of pricing them.
Car production in Mexico increased by 6.2% year on year in February, according to figures released by national automotive association Amia on Tuesday.
Trump's proposed 25% tariff on foreign steel imports
could drive hot-rolled coil prices to $1,000 per ton, helping US mills but hurting domestic steel consumers and the wider US economy, according to industry experts.