By Ellie Wang / April 18, 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 Wednesday April 18.
Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Wednesday after the generally positive Chinese data released yesterday failed to motivate investors to chase prices higher.
Meanwhile, aluminium succumbed to profit-taking after its recent run of sanction-driven strength.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 03.23am London time |
| Latest three-month LME Prices |
| | Price ($ per tonne) | Change since previous session's close ($) |
| Copper | 6,865 | -12.5 |
| Aluminium | 2,415 | 10 |
| Lead | 2,335 | -15 |
| Zinc | 3,151 | -3.5 |
| Tin | 21,285 | -190 |
| Nickel | 14,285 | 70 |
| SHFE snapshot at 11.23am Shanghai time |
| Most-traded SHFE contracts |
| | Price (yuan per tonne) | Change since previous session's close (yuan) |
| Copper (June) | 50,710 | -110 |
| Aluminium (June) | 14,850 | -70 |
| Zinc (June) | 23,790 | 100 |
| Lead (June) | 18,060 | -95 |
| Tin (May) | 144,960 | 10 |
| Nickel (July) | 103,430 | -370 |
Export prices for Chinese wire rod
continued to fall over the past week amid pessimism about demand for the product over the next few months.
Shares in Jupiter Mines Ltd commenced trading on the Australian Securities Exchange on Wednesday following the completion of its A$240-million ($186-million) initial public offering.
Tshipi
sold 3.34 million tonnes of manganese ore in the twelve months to February 28, 2018, the manganese miner has announced.
Copper premiums
moved in different directions across Europe, while greater trading interest in bonded stocks versus cif cargoes weighed on premiums in Shanghai. Meanwhile, despite expectations of rising freight costs, copper premiums in the United States were stable this week due to limited spot availability.
Aluminium premiums across Asia and Europe
continued to soar higher, following the recent US sanctions imposed on UC Rusal, while the spot main Japanese ports premium climbed to a three-year high.