Base metal prices on the Shanghai Futures Exchange were all lower during Asian morning trading on Monday, with several factors including easing supply concerns, a stronger dollar and an upcoming United States monetary policy meeting pressuring copper prices in particular.
Check Metal Bulletin’s live futures report here.
| SHFE snapshot at 10:57am Shanghai time | ||
| Most-traded SHFE contracts | ||
| Price (yuan per tonne) | Change since previous session’s close (yuan) | |
| Copper (May) | 51,280 | -840 |
| Aluminium (May) | 13,935 | -60 |
| Zinc (May) | 24,885 | -25 |
| Lead (May) | 18,435 | -115 |
| Tin (May) | 144,610 | -110 |
| Nickel (Jul) | 102,070 | -1,640 |
| LME snapshot at 02:58am London time | ||
| Latest three-month LME Prices | ||
| Price ($ per tonne) | Change since previous session’s close ($) | |
| Copper | 6,829 | -59 |
| Aluminium | 2,076 | -9 |
| Lead | 2,378 | -5 |
| Zinc | 3240.50 | -19.5 |
| Tin | 20,990 | -10 |
| Nickel | 13,490 | -135 |
Strong demand from India is continuing to support the cadmium market, with the price for higher-grade material reaching fresh highs this week, even with the end of the fiscal year approaching, market sources told Metal Bulletin.
The upheaval in the global non-ferrous metals trade is increasingly shifting price drivers from traditional factors to a landscape where geopolitical influences have more weight on prices, according the Bureau of International Recycling.
A surge in warehousing stocks and freight costs has zinc users in the United States wondering where the market is headed – and how near-term premiums will be affected.
Secondary aluminium scrap prices in the US generally remain steady, supported by firm demand and steady supply.
And in case you missed it:
Be sure to check out correspondent Dalton Barker’s review of the week in the non-ferrous markets.
