<![CDATA[SMM Rss News]]> http://www.metal.com/rss/mediacontent EN 2013-06-07 06:10:01 SMM RSS Generator <![CDATA[Base Metal Prices to Diverge, SMM Says]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 11 (SMM) – Base metal prices on the SHFE are expected to diverge on Tuesday, Shanghai Metals Market foresees. 

“Base metals overnight advanced, neglecting a strong dollar, though some products fell back from highs finally, and on Tuesday, base metal prices are expected to diverge,” SMM says.  

Copper: 37,700-38,150 yuan per tonne

Aluminum: 12,600-12,780 yuan per tonne

Lead: 15,650-15,850 yuan per tonne

Zinc: 18,150-18,350 yuan per tonne

Tin: 128,500-130,500 yuan per tonne

Nickel: 81,500-83,200 yuan per tonne

Note: All prices above are forecasts for most actively-traded contracts on each market. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-11 02:16:56
<![CDATA[China Aluminum Stocks Soar After Holiday, SMM Says]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 29 (SMM) – Aluminum stocks in China’s five major markets increased significantly after the weeklong Chinese National Day holiday, SMM data showed.

Aluminum ingots kept arriving during the holiday, while consumption came to a virtual standstill, causing stocks to surge after the holiday, SMM explained. 

The table below shows details of aluminum stocks at China’s five major markets:

Unit: 1,000 tonne

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2016-10-10 10:55:26
<![CDATA[US Copper Imports Fall in August, Exports Grow]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - US Commerce Department said October 5 the country’s cathode copper imports fell month-on-month to 61,662,338 kg in August, while exports grew to 3,772,386 kg, according to wenhua.com.

US Copper imports in the first eight months of this year were 437,183,242 kg, with exports of 98,424,453 kg during the same period. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 


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2016-10-10 10:54:10
<![CDATA[Zijin Mining 45,000-tpd Copper Ore Processing Project Came Online]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - Zijin Mining Group’s 45,000 tonne per day copper ore processing project was put into production October 7, people.com reports.

The project is the core project of Zijinshan copper mine, which contains 305 tonnes of gold reserves and over 3 million tonnes of copper reserves.

After a string of new projects come online as expected, Zijin Mining’s copper output will reach 300,000 tonnes per year in the near future. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 




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2016-10-10 07:13:58
<![CDATA[A 40,000-tpy Copper Wire Drawing Project Commenced in Inner Mongolia]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - Baotou Zhenxiong Copper Group commenced its 40,000-tpy copper wire drawing project in Baotou’s rare earth high-tech zone September 28, local paper reported.

The project is expected to be completed in December 2017. Once operational, it will materialize 2 billion yuan in annual sales revenue and 30 million yuan of profit, and create 200 jobs.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 



 


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2016-10-10 06:50:19
<![CDATA[Chile Expects to Increase Copper Output to 8.50 Mln tonnes]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - Chile plans to increase its copper output to 8.50 million tonnes in the near future, according to cnmn.com.

Chile is expected to raise copper output to 8.50 million tonnes in the next five years, and about 33% of global large mining projects will be executed in Chile, Chile Foreign Investment Committee’s deputy director said at a seminar.

There will be 250 transnational suppliers in the mining field. Mining companies plan to invest $50 billion by the year 2023.

United States Geological Survey (USGS) data show Chile has over 200 million tonnes of proven copper reserves by 2015, accounting for 1/3 of global total.

Chile’s copper output was 5.81 million tonnes in 2015, which represents 25% of global total. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 



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2016-10-10 06:20:45
<![CDATA[BofA Merrill Revised Nonferrous Metals Price Forecast for 2016]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - Bank of America Merrill Lynch (BofA Merrill) said October 7 it revised price forecast for major nonferrous metals in 2016, according to wenhua.com.

It expects the average copper price to be $4,734 per tonne in 2016, compared to $4,828 per tonne it had expected earlier.

The bank lowered its price forecast for aluminum from $1,597 to $1,589 per tonne in 2016.

Price forecast for zinc was revised upwardly from $1,987 to $2,061 per tonne, and that for nickel was revised from $9,269 to $10,019 per tonne. Lead prices are expected to average $1,855 in 2016, compared to $1,814 per tonne it had expected earlier.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 


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2016-10-10 04:42:29
<![CDATA[US Zinc Imports and Exports both Slid in August]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) - US Commerce Department announced October 5 the country’s zinc imports and exports both fell in August, wenhua.com reports.

US unwrought non-alloy zinc imports were 34,091,456 kg in August, and exports were 4,505,634 kg.

Zinc imports in the first eight months of this year were 283,972,732 kg, and exports in the same period totaled 104,630,104 kg.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 


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2016-10-10 04:23:25
<![CDATA[Chinese Investors Return after Holiday, with Eyes on Data, SMM Says]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 10 (SMM) – Base metal prices on the SHFE are expected to be subject to major economic data and news after resuming from the week-long China’s National Day holiday, Shanghai Metals Market says. 

“LME base metals fell initially, and then rose during China’s National Day holiday, and trading volumes were down from the pre-holiday level due to the absence of Chinese investors, and this week, base metal prices on the SHFE are expected to be subject to major economic data and news,” SMM says. 

Key Macroeconomic Indicators for Base Metal Prices (2016-10-10)

Copper: 37,350-37,750 yuan per tonne

Aluminum: 12,800-13,000 yuan per tonne

Lead: 15,250-15,450 yuan per tonne

Zinc: 18,000-18,200 yuan per tonne

Tin: 127,500-130,000 yuan per tonne

Nickel: 79,800-82,000 yuan per tonne

Note: All prices above are forecasts for most actively-traded contracts on each market. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-10 02:59:09
<![CDATA[China Alumina Imports Tumble in August]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 9 (SMM) – China’s alumina imports fell sharply both on a yearly and monthly basis in August.

Customs data showed imports totaled 129,000 tonnes in August, down 41% month-on-month and 68.3% year-on-year. 

Australia remained the top supplier, exporting 96,000 tonnes to China, while imports from Indonesia were 28,000 tonnes.

Alumina imported from Indonesia was shipped exclusively to Shandong Weiqiao Group, and alumina imports from the country are likely to exceed 100,000 tonnes in September, cnmn.com reported.  

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-09 03:01:44
<![CDATA[India Might Raising Aluminum Import Duty]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 9 (SMM) – India might set minimum price for aluminum or hike aluminum import duty, the country’s mining minster said on October 4. 

The move is aimed at protecting India’s domestic aluminum industry. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-09 02:59:42
<![CDATA[Baise Mining Group Extends Value Chain After Aluminum Project Comes Online]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 9 (SMM) –Baise Mining Group is extending value chain to downstream processing after its 300,000-tpy coal-electricity-aluminum project entered operations, cnmn.com reported. 

The company has begun construction on its 10,000-tpy precision aluminum processing project in Guangxi province. The project has a total investment of 77 million yuan, with construction period at 18 months.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-09 02:53:00
<![CDATA[China Cancels Rare Earth State Stockpiling]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 9 (SMM) –The National Development & Reform Commission (NDRC), China’s top economic planner, cancelled rare earth bid invitation by the State Reserve Bureau (SRB), which was originally scheduled to take place in the week ending September 23, China Securities reported.

It is still unclear as to when the bidding will resume.

Rare earth prices began erasing previous gains after state stockpiling fell through, and prices for major rare earth products remain near record lows at present. 

Even if the SRB resumes bidding, there is a good chance that the bidding will fail again since prices to be offered by the SRB might still be below bidders’ floor prices.   

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-10-09 02:49:42
<![CDATA[How will SHFE Lead Move after the Holiday?]]> http://www.metal.com/newscontent// SHANGHAI, Oct. 8 (SMM) – SHFE 1611 lead rose by over RMB 1,000/mt in two weeks after China’s Mid-Autumn Festival during September 15-17, hitting a two years high at RMB 15,460/mt, which approached the highest level of RMB 15,510/mt in July 2014.

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Downstream pre-holiday stock-building demand surged due to China’s National Day Holiday in October 1-7. China’s leading battery producers had their workers took holidays only for 1-2 days, thus stock-building was higher than previous years, SMM surveyed.

Moreover, some lead smelters resumed output in September but the productions were consumed quickly under long term contracts. And output had no improvement due to tight lead concentrate. Hence, lead supply stayed tight. Cargo holders held back sales for higher prices and spot premiums remained firm, helping SHFE 1611 lead up.

Additionally, downstream demand for secondary refined lead increased with widening price gap between primary and secondary refined lead due to surging lead prices and distributors thus offered prices firmly, SMM learned. Some local governments, including Shandong, Henan and Jiangsu, are said to start a new round of environmental protection inspections, leading to operation halt at some secondary lead smelters. Hence, secondary refined lead supply should tighten further.

SMM also concluded factors on lead prices after China’s National Day Holiday.

Spot lead supply should keep tight due to insufficient lead concentrate and slow arrivals which is resulted by intensified inspections on overloading of trucks. Moreover, some cargo holders are expected to deliver goods to SHFE warehouses with the upcoming delivery day.

LME lead rose firmly and spot lead reversed to premium from discount. A lead smelter in southern Australia, which produced 185,000 tonnes refined lead in last year, suspended output for 10-14 days due to bad weathers. Hence, LME lead should remain buoyant for the short term, helping SHFE 1611 lead up.

However, motive and ignition battery are both in off season and End-user demand is also limited.

Overall, SHFE 1611 lead is predicted to remain buoyant for the short term but it also may drop from highs, SMM expects. 


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2016-10-08 08:25:55
<![CDATA[LME Aluminum to Gather More Rising Strength Next Week, SMM Predicts]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) – LME aluminum will see more gains next week, while SHFE aluminum will also extend gains after the Chinese National Day holiday, SMM expects.

SMM sees LME aluminum climbing to $1,630-1,700/tonne.

Falling aluminum stocks and rising costs will help drive SHFE 1612 aluminum up to 12,300-12,580 yuan/tonne after the holiday.   

Spot premiums in east China market are expected to remain high at 400-600 yuan/tonne over SHFE 1610 aluminum, supported by low aluminum stocks.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-09-30 13:11:11
<![CDATA[LME Copper to See Choppy Trading Next Week, SMM Expects]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) – LME copper will experience choppy trading during the Chinese National Day holiday, while SHFE copper will consolidate at highs after the holiday, SMM predicts. 

While the OPEC agreed to cut oil output, outlook for the agreement is clouded by violation records in history. Iran, Nigeria and Lybia are given the immunity from oil supply cut, and it is difficult to reach a consensus on market share among OPEC members. Crude oil supply will remain in surplus. Hence, oil price is not expected to make substantial rallies, and to mainly trade between $45-48/bbl.  

In Australia, its central bank will hold its interest rate meeting, and dovish comments by its head earlier indicated that there was no emergency for the country to cut its rate, and it would need more time for inflation to grow, lifting market appetite. If Australia makes no move in rate decision, the Australian dollar will strengthen, which will weigh on the dollar. 

For US presidential election in November, market appetite will grow gradually, and its currency will be also affected. In the coming week, the dollar index is expected to trade between 94.5-96.5. 

LME copper should continue fluctuating wildly between $4,740-4,880/tonne during the holiday. SHFE 1612 copper contract should consolidate between 37,000-38,000 yuan/tonne after the holiday.    

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.







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2016-09-30 12:59:08
<![CDATA[China Lead-Acid Battery Imports Jump 21.76% MoM in August]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) –The lead-acid battery imports in China totaled 861,500 units in August, up 21.76% MoM and 29.40% YoY, China Customs reported. The imports included 122,000 units of ignition batteries, down 22.99% MoM and 739,500 units of other types of lead-acid batteries, up 34.67% MoM.

Overall demand for ignition battery weakened in August. Demand for imported ignition battery at automobile makers was modest, such as FAW-Volkswagen and BMW Brilliance. Meanwhile, China’s battery producers expanded capacities and continued releasing high-end batteries like AGM, which increased competition for imported batteries. Moreover, with low battery replacement demand, some foreign enterprises in China also cut their battery imports.

Backup battery demand rose steadily due to development of China’s communication base station and energy storage market. Moreover, the number of high-temperature days in August reduced from July, which increased efficiency of communication base station workers. This increased demand for battery imports. Additionally, lead prices rose continually in August, boosting downstream purchase. Imported lead-acid battery totaled 5.70 million units in China during January-August, up 14.90% YoY.    

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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2016-09-30 12:05:45
<![CDATA[China Lead-Acid Battery Exports Rise 12.89% MoM in August]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) – China exported 22.07 million units of lead-acid batteries in August, up 12.89% MoM and 20.98% YoY, based on data from China Customs. 

Exports totaled 138 million units during January-August, down 2.7% YoY. Ignition lead-acid battery exports were 1.92 million units in August, up 10.81% MoM and 0.39% YoY. The number of export destination countries reduced 3 to 95 in August while demand rose sharply in the destination countries, with battery exports to Indonesia up 55.39% MoM to 232,300 units. Exports posted growth at motorcycle and automobiles producers.

Other types of battery exports were 20.15 million units in August, up 13.09% MoM and 23.39% YoY.

The top three export destination countries were India, America and Brazil in August with exports to the three countries rising in August. Growth in lead prices at home and abroad since Q3 boosted downstream purchase, also growing battery exports. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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2016-09-30 12:04:24
<![CDATA[China Nickel Ore Inventories Continue Dropping, SMM Reports]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) – Nickel ore inventories at seven major Chinese ports continued falling in the week ending Sep. 30, Shanghai Metals Market reported.

Over this past week, the Port of Lianyungang and Lanshan saw large arrivals of new shipments, and arrivals to the Port of Lianyungang will continue growing in the coming week.  

For week-on-week change in inventories at each port, please clickhttp://database.metal.com/Nickel/introduction_en#type2

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


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2016-09-30 10:30:57
<![CDATA[SMM Notice of 2016 China National Day Holiday]]> http://www.metal.com/newscontent// SHANGHAI, Sep. 30 (SMM) – As 2016 China’s National Day holiday falls on 1-7 Oct., there will be no update on SMM's website during the holiday period. Update will return to normal from Oct. 8.  Apologies for any inconvenience caused. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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2016-09-30 08:30:36