By Susan Zou / February 22, 2018 / www.metalbulletin.com /
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Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday February 22.
Base metals on the SHFE were all down on the Chinese market opening after the one-week holiday.
Check Metal Bulletin's live futures report
here.
| SHFE snapshot at 12:37pm Shanghai time |
| Most-traded SHFE contracts |
| | Price (yuan per tonne) | Change since previous session's close (yuan) |
| Copper (April) | 52,660 | -130 |
| Aluminium (April) | 14,095 | -10 |
| Zinc (March) | 26,300 | -350 |
| Lead (March) | 19,255 | -65 |
| Tin (May) | 147,690 | -1,190 |
| Nickel (May) | 102,950 | -540 |
Glencore metal traders
banked a record $2 billion in profits in 2017 - a year where traded volume of copper, zinc and ferro-alloys grew substantially.
Nickel premiums rose slightly in the United States due to tight supply and steady demand, while premiums for 4x4 product increased in Europe and the market in China was closed for the Chinese New Year holiday celebrations. Click
here to view Metal Bulletin Global Nickel Wrap.
Merger and acquisition activity in lithium, copper and cobalt
is expected to feature high on the agenda of management teams across the industry given the buzz around new world critical minerals, according to a report by consultancy group EY.
Non-ferrous scrap market participants in the United States are
upbeat that 2018 will build upon 2017's momentum, although transportation woes and trade policy changes at home and abroad have left a thick cloud of uncertainty looming over the industry.
European zinc premiums dropped into a wider range, which reflects a retreat by traders from physical positions, while Asian markets held steady in quiet Lunar New Year holiday trading. Click
here for the full report on global zinc and lead premiums.