By Susan Zou / February 23, 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 Friday February 23.
Base prices on the Shanghai Futures Exchange (SHFE) rose across the board during Asian morning trading on Friday February 23, the second trading day after Lunar New Year holidays.
Check Metal Bulletin's live futures report
here.
| LME snapshot at 0200 London time |
| Latest 3M LME Prices |
| Price ($/t) | Change since yesterday's close ($) |
| Copper | 7155.5 | -6.5 |
| Aluminium | 2193 | 8 |
| Lead | 2546.5 | 1.5 |
| Zinc | 3521 | -10 |
| Tin | 21425 | -150 |
| Nickel | 13790 | -40 |
| SHFE snapshot at 1000 Shanghai time |
| Most traded SHFE contracts |
| Price (yuan/t) | Change since yesterday's close (yuan) |
| Copper (April) | 53,530 | 780 |
| Aluminium(April) | 14335 | 210 |
| Zinc(April) | 26670 | 340 |
| Lead(April) | 19370 | 75 |
| Tin (May) | 147280 | 100 |
| Nickel (May) | 104880 | 2040 |
| Changjiang spot snapshot on Friday February 23 |
| Range (yuan/t) | Change (yuan) |
| Copper | 53,060-53,080 | 780 |
| Aluminium | 13,930-13,970 | 260 |
| Zinc | 26,530-27,330 | 330 |
| Lead | 19,300-19,500 | 150 |
| Tin | 146,500-148,000 | -750 |
| Nickel | 104,050-104,150 | 2,000 |
The proposed Section 232 investigation remedies by the United States Commerce Department are being felt in the global market, with the common theme being a reorganization of the world's supply chains
to remove the US from the trade flow.
HudBay Minerals
reported strong revenue and profits during 2017, notably due to better-than-expected copper output and and solid zinc production, the company said in its February 21 earnings report.
Constellium NV sees room for the company
to grow its automotive aluminium sheet capacity in North America despite a recent competitor announcing plans to build a new automotive sheet mill.
Apple has been experimenting with ways to
recover cobalt from its lithium-ion batteries and to use recycled cobalt.
The former Chief Executive Officer of Rio Tinto and Vedanta Resources
Tom Albanese has joined an advisory board at flourishing miner Nevada Copper, in the expectation of being nominated for membership of the company's board at an annual general meeting in April.
Another notice on executive changes. US Rusal has appointed
Alexandra Bouriko as the new Chief Executive Officer of the company, according to the company announcement on Friday February 23.