The most-traded copper price on the Shanghai Futures Exchange rose during Asian morning trading hours on Thursday December 28 after the three-month LME copper price hit its highest level since January 23, 2014.
Check Metal Bulletin’s live futures report here.
| LME snapshot at 0207 London time | ||
| Latest 3M LME Prices | ||
| Price ($/t) | Change since yesterday’s close ($) | |
| Copper | 7203 | -37 |
| Aluminium | 2232 | -20 |
| Lead | 2520 | -19 |
| Zinc | 3262.5 | -9.5 |
| Tin | 19620 | -75 |
| Nickel | 11985 | -125 |
| SHFE snapshot at 1007 Shanghai time | ||
| Most traded SHFE contracts | ||
| Price (yuan/t) | Change since yesterday’s close (yuan) | |
| Copper (February) | 55280 | 320 |
| Aluminium(February) | 14845 | 100 |
| Zinc(February) | 25485 | 110 |
| Lead(February) | 19190 | 150 |
| Tin (May) | 95130 | 540 |
| Nickel (May) | 142930 | 40 |
| Changjiang spot snapshot on Thursday December 28 | ||
| Range (yuan/t) | Change (yuan) | |
| Copper | 54,920-54,940 | 300 |
| Aluminium | 14,370-14,410 | 150 |
| Zinc | 25,490-26,290 | 50 |
| Lead | 19,100-19,300 | 100 |
| Tin | 139,500-141,500 | -250 |
| Nickel | 94,350-94,750 | 550 |
Metal Bulletin has updated the progress on 2018 treatment and refining charges (TC/RCs) negotiations after Tongling Nonferrous and Freeport reached a deal on Wednesday December 17. See Antofagasta and Jiangxi Copper’s comments here.
Market participants are anticipating the roughly 42,000 tonnes of aluminium canceled on Wednesday December 27 to flow from Asia to the United States.
The nationwide campaign against environmental violations in 2017 changed the landscape of Chinese minor metals markets after permanently closing some smaller illegally operated miners, smelters and flotation plants.
Export prices for Brazil-origin slabs have fluctuated by around $130 per tonne this year, influenced by raw materials, finished steel prices in Asia and even billet.
Metal Bulletin’s weekly roundup of the state of base metal premiums on Wednesday December 27.