December 2017

Spot copper concentrate TC/RCs dive to 4-month low on declining benchmark, 2018 expectations

Spot copper concentrate treatment and refining charges fell to a four-month low in line with a lower annual TC/RC agreed between Freeport McMoRan and Tongling Nonferrous.

LIVE FUTURES REPORT 29/12: LME nickel rallies 3%; base metals close 2017 on strong footing

Base metals prices on the London Metal Exchange were on divergent paths on the last trading day of the year, Friday December 29, with nickel stealing the show.

LIVE FUTURES REPORT 29/12: LME copper, ali dip after recent rally; base metals consolidating

Base metals prices on the London Metal Exchange edged lower at the beginning of the last trading day of the year, Friday December 29, but are mostly consolidating after hitting fresh highs over the last two days.

LIVE FUTURES REPORT 29/12: SHFE nickel stocks up 10.5%

Deliverable nickel stocks at Shanghai Futures Exchange-approved warehouses increased 4,185 tonnes, or 10.5%, over the past week to 44,216 tonnes as of Friday December 29.

SHFE vs LME physical arbitrage 29/12: Copper, aluminum, zinc, nickel

Arbitrage for copper, aluminum, zinc and nickel imported into China on Friday December 29*

METALS MORNING VIEW 29/12: Base metals sent a clear message in 2017

Base metals traded on the London Metal Exchange are edging lower this morning, Friday December 29, posting a marginal average drop of 0.2%, with aluminium (-0.6%) the weakest and lead (+0.2%) the most resilient, on fairly low trading volumes due to the holiday season.

South Korea’s PPS to buy 1,500t of zinc via tenders

South Korea’s Public Procurement Service (PPS) is looking to buy 1,500 tonnes of special high grade zinc via two tenders, according to notices from the state agency late on Thursday December 28.

2017 REVIEW: Copper rebounds this year, fueled by Chinese stability

The copper market should have known 2017 would be an interesting and potentially beneficial year after US President Donald Trump promised in his inauguration speech to rebuild the United States and a 44-day strike at Escondida mine in Chile.

EUROPEAN MORNING BRIEF 29/12: SHFE aluminum up; CSPT Q1 price floor; Concord signs Pumpkin Hollow deal

Good morning from Metal Bulletin’s offices in Asia, bringing the key news and market stories on Friday December 29.

CSPT cuts 2018 Q1 TC/RC purchase price floor by 8%

The Chinese Smelters Purchase Team (CSPT) is to cut its purchase treatment and refining charges (TC/RCs) price floor for the first quarter of 2018 to $87 per tonne and 8.7 cents per lb, sources close to the matter told Metal Bulletin on Friday December 29.