EUROPEAN MORNING BRIEF 18/01: SHFE base metals broadly up, China data eyed; BHP December quarter production results; US scrap prices

Good morning from Metal Bulletin’s office in Shanghai, as we bring you the latest news and pricing stories on Thursday January 18.

Base metals prices on the Shanghai Futures Exchange were generally higher during Asian morning trading on Thursday with copper prices outperforming, while the others gave a more subdued performance ahead of key Chinese data releases today.

Check Metal Bulletin’s live futures report here.

LME snapshot at 02.57am London time
Latest three-month LME Prices
  Price ($ per tonne) Change since previous session’s close ($)
Copper 7,066 31.5
Aluminium 2,197 5
Lead 2,564 15
Zinc 3,385 17.5
Tin 20,395 -100
Nickel 12,455 45

SHFE snapshot at 10.57am Shanghai time
Most-traded SHFE contracts
  Price (yuan per tonne) Change since previous session’s close (yuan)
Copper (March) 53,830 250
Aluminium (March) 14,650 20
Zinc (March) 26,035 -20
Lead (March) 19,250 55
Tin  (May) 144,300 -430
Nickel  (May) 97,130 180

BHP has released its production results for the three months ended December 31, 2017. Click here for a summary of these results.

Spent lead-acid batteries and lead scrap prices in the United States maintained a steady footing, buoyed by the relative strength of the London Metal Exchange

Rising freight rates and uncertain trucking dependability are plaguing aluminum scrap and secondary aluminium alloy market participants in the United States, who fear that there may be no near-term relief in sight.

The Midwest aluminium spot premium has risen to a more than two-and-a-half-year high in the US amid concerns about potentially strict tariffs that could be imposed due to the US Commerce Department’s Section 232 investigation.

Germanium prices increased on Wednesday and are expected to rise further after Teck Resources declared a partial force majeure on the sale of the metal from its trial operations.