By Anna Xu / April 10, 2018 / www.metalbulletin.com /
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Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Tuesday April 10.
Copper prices on the Shanghai Futures Exchange strengthened during Asian morning trading on Tuesday, after a further cooling in trade tensions between the United States and China led to increased buying interest among investors.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 03.55am London time |
| Latest three-month LME Prices |
| | Price ($ per tonne) | Change since yesterday's close ($) |
| Copper | 6,896.50 | 66.5 |
| Aluminium | 2,148.50 | 9.5 |
| Lead | 2,382.50 | -2.5 |
| Zinc | 3,242.50 | 31.5 |
| Tin | 21,215 | 35 |
| Nickel | 13,550 | 115 |
| SHFE snapshot at 10.55am Shanghai time |
| Most-traded SHFE contracts |
| | Price (yuan per tonne) | Change since yesterday's close (yuan) |
| Copper | 51,020 | 410 |
| Aluminium | 14,360 | 90 |
| Zinc | 24,505 | 150 |
| Lead | 18,445 | -110 |
| Tin | 144,740 | -10 |
| Nickel | 101,330 | 1,700 |
Codelco's Chuquicamata division has
reached an agreement with its supervisors' union for a new labor contract, the Chilean copper producer announced on Monday.
Stefan Boel, executive board member at Aurubis, will
leave the German copper smelter-manufacturer on July 31.
A wave of
labor negotiations at several of the world's leading copper mines is taking place this year and could have a significant impact to the global copper supply and prices.
Sanctions levied by the US Department of the Treasury last week against UC Rusal are expected to change the flow of aluminium supply in the US, as buyers and sellers are grappling with what the absence of Russian supply will mean for the market.
Chinese tungsten concentrate prices
came under pressure last week because of weak buying interest, with exporters of ammonium paratungstate and ferro-tungsten adjusting their offers downward.