By Hui Li / May 18, 2018 / www.metalbulletin.com /
Article Link
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday May 18.
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday May 18.
Base metals prices on the Shanghai Futures Exchange were largely higher during Asian morning trading on Friday May 18, with the exception of tin and aluminium - the latter easing after a huge re-warranting in London Metal Exchange warehouses in Malaysia.
Check Metal Bulletin's live futures report
here.
| SHFE snapshot at 10:38am Shanghai time |
| Most-traded SHFE contracts |
| | Price (yuan per tonne) | Change since previous session's close (yuan) |
| Copper (Jul) | 51,270 | 220 |
| Aluminium (Jul) | 14,800 | -85 |
| Zinc (Jul) | 23,695 | 125 |
| Lead (Jun) | 19,565 | 155 |
| Tin (Sep) | 144,880 | -1,060 |
| Nickel (Jul) | 109,540 | 1,720 |
| LME snapshot at 03:39am London time |
| Latest three-month LME Prices |
| | Price ($ per tonne) | Change since previous session's close ($) |
| Copper | 6,866 | -13 |
| Aluminium | 2,277 | -16 |
| Lead | 2,361 | -13 |
| Zinc | 3,082 | -14 |
| Tin | 20,660 | 10 |
| Nickel | 14,715 | 120 |
| Changjiang spot snapshot on May 18 |
| | Range (yuan per tonne) | Change (yuan) |
| Copper | 51,020-51,060 | 60 |
| Aluminium | 14,640-14,680 | -90 |
| Zinc | 23,930-23,980 | -110 |
| Lead | 19,450-19,650 | 100 |
| Tin | 143,500-145,000 | -500 |
| Nickel | 109,400-109,500 | 1,500 |
The outlook for base metals is a positive one, with
copper ready to push into a long period of bullishness, said Guy Wolf, Marex Spectron's global head of market analytics.
European spot prices for molybdic oxide and ferro-molybdenum
dropped slightly this week, with renewed trading activity weaker than expected after the May public holidays, although expected new tenders may boost the level of business in the near term, sources said.
The CME Group's growing share of global trade in recent years
has been driven by its increasingly global reach since its commercial push in base metals began in 2012, its global head of metals Young-Jin Chang told Metal Bulletin this week.
The US Commerce Department has
made a final determination that Vietnamese cold-rolled and coated coil made from Chinese substrate circumvents US duties on flat-rolled steel from China, market sources told American Metal Market.