Copper prices on the Shanghai Futures Exchange were weaker during Asian morning trading on Monday, with the red metal coming under pressure following a 10% jump in copper volumes at SHFE-approved warehouses last week.
Check Metal Bulletin’s live futures report here.
| LME snapshot at 02.08 am London time | ||
| Latest three-month LME Prices | ||
| Price ($ per tonne) | Change since Friday’s close ($) | |
| Copper | 7,127.50 | 32.5 |
| Aluminium | 2,155 | 15 |
| Lead | 2,550 | 19 |
| Zinc | 3,516.50 | 13.5 |
| Tin | 21,545 | -105 |
| Nickel | 13,740 | -25 |
| SHFE snapshot at 10.08 am Shanghai time | ||
| Most-traded SHFE contracts | ||
| Price (yuan per tonne) | Change since Friday’s close (yuan) | |
| Copper | 53,350 | -240 |
| Aluminium | 14,290 | -75 |
| Zinc | 26,600 | 40 |
| Lead | 19,320 | -55 |
| Tin | 146,950 | -360 |
| Nickel | 104,440 | -510 |
Century Aluminum’s top executive went into previously undisclosed detail on the company’s plans to restart production at its smelter in Hawesville, in the US state of Kentucky – with the linchpin being President Donald Trump choosing to enact certain Section 232 trade remedies.
The European antimony market continued to push higher last week amid tightening Rotterdam supplies despite China’s absence from the market for the Lunar New Year holiday.
The Lunar New Year holiday tightened tungsten supply further, pushing prices for ammonium paratungstate (APT) slightly higher in Europe while ferro-tungsten was unchanged with little spot business concluded.
Novolipetsk Steel, Russia’s largest steelmaker, sees opportunity for further development outside Russia, where the market is “too small,” according to the company’s top executive.
And finally, Metal Bulletin presents a roundup of Chinese trade data for base metals, minor metals and ferro-alloys for the month of January.
