Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Wednesday August 22, after President Donald Trump’s negative commentary on upcoming trade negotiations with China.
Check Metal Bulletin’s live futures report here.
| LME snapshot at 03: 13London time | ||
| Latest 3M LME Prices | ||
| Price ($/t) | Change since yesterday’s close ($) | |
| Copper | 6,040.50 | -4.5 |
| Aluminium | 2,070 | 15.5 |
| Lead | 2,019.50 | 11 |
| Zinc | 2,422 | -4 |
| Tin | 19,105 | 60 |
| Nickel | 13,675 | 115 |
| SHFE snapshot at 10:15 Shanghai time | ||
| Most traded SHFE contracts | ||
| Price (yuan/t) | Change since yesterday’s close (yuan) | |
| Copper | 48,600 | -100 |
| Aluminium | 14,695 | -10 |
| Zinc | 20,475 | -105 |
| Lead | 17,555 | 5 |
| Tin | 146,120 | 1,180 |
| Nickel | 112,390 | -440 |
| Changjiang spot snapshot on August 22 | ||
| Range (yuan/t) | Change (yuan) | |
| Copper | 48,810—48,850 | 110 |
| Aluminium | 14,580—14,620 | 40 |
| Zinc | 21,200—21,250 | 330 |
| Lead | 17,650—17,850 | 50 |
| Tin | 144,500—146,000 | 2,000 |
| Nickel | 112,150—113,750 | 50 |
High chrome ore stocks and dampened demand are weighing on chrome ore producers in Turkey who are also battling growing inflation, market participants told Metal Bulletin.
Australian-Chinese miner MMG posted a 1.42% year-on-year increase in its earnings before interest tax depreciation and amortization (Ebitda) to $984.2 million in the first half of 2018, due to higher commodity prices realized during the period.
MMG Dugald River, a subsidiary of MMG Ltd, has entered into an agreement to sell around 40,000 dry metric tonnes of zinc concentrate per year to China Minmetals Corp (CMC) subsidiary Minmetals North-Europe from 2019 to 2020.
Chinese ferro-silicon prices slipped last week on waning demand while the European market held despite a lack of consumption. Click here to view the latest global ferro-silicon wrap.
John Porter will join CCMA as a trader focused on the special metals segment effective early September, leaving his current post at Arconic.