Tracking price movements seen on the London Metal Exchange, copper prices on the Shanghai Futures Exchange recovered some lost ground during Asian morning trading on Friday, with renewed supply-side concerns providing support.
Check Metal Bulletin’s live futures report here.
| LME snapshot at 02.20am London time | ||
| Latest three-month LME Prices | ||
| Price ($ per tonne) | Change since yesterday’s close ($) | |
| Copper | 6,569 | 5 |
| Aluminium | 2,013 | 3 |
| Lead | 2,442 | 9 |
| Zinc | 3,059 | -31 |
| Tin | 19,350 | -75 |
| Nickel | 10,955 | -85 |
| SHFE snapshot at 10.19am Shanghai time | ||
| Most-traded SHFE contracts | ||
| Price (yuan per tonne) | Change since yesterday’s close (yuan) | |
| Copper | 51,450 | 240 |
| Aluminium | 14,210 | 5 |
| Zinc | 24,325 | -170 |
| Lead | 18,505 | -175 |
| Tin | 139,590 | -110 |
| Nickel | 88,680 | 1,270 |
A major end-user has concluded a third deal for aluminium supply to main Japanese ports (MJP) in the first quarter of 2018 at a premium of $103 per tonne, the consumer told Metal Bulletin on Friday.
Vale SA is searching for an equity partner for its Vale New Caledonia (VNC) nickel operations to send a positive message to investors and not because the company needs cash.
Meanwhile, Vale plans to reduce its nickel production in the short term to capitalize on the metal’s future potential use in electric vehicles, according to a company executive.
Aluminium imports to the United States in the first 10 months of 2017 surpassed the previous years’ total - despite October’s volume being a year-to-date low, according to data from the US International Trade Commission.