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Zinc - SHMET Import Market Briefing

Date Dec 01 2017 16:54:19Source:SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai saw no change, at $155-$165/mt and $160-$170/mt respectively. Today LME C-3m valued at $21.25B high while the SHFE Spot/LME 3M arb also retreated to around 8.01, the spot import loss to RMB806/mt and expanding loss slightly in forward market, around RMB1261/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB511/mt in spot import market, but may lose RMB964/mt in forward import.   

Domestic zinc ingot inventory maintained at low levels and the supply of zinc concentrate is still not alleviated, but real estate regulation and environmental protection are strengthened, which intensified the weakening of the consumption. Zinc price is expected to be in a volatile pattern. There are many customers’ inquiries in the market, with transactions being general.

 

Edited by SHMET

Aluminum - SHMET Import Market Briefing

Date Dec 01 2017 16:53:40Source:SHMET

Traders reported that spot premiums CIF shanghai remained at level $95-$115 as usual, so did the physical warrants. LME C-3m valued edged to $14C. SHFE Spot/LME 3M arb flattened out at 7.03, suggesting importing may lose around RMB2369/mt in spot market and RMB2221/mt in forward market.   

There is still a lot of pressure on the spot stocks and investors are hoping for a winter shutdown and a seasonal strain in xinjiang province that will have an impact on reducing stocks. But in the long term, the winter is the slack season, coupled with the Spring Festival holiday, leaving the subsequent inventory remains to be seen. The aluminum price continued to fall and the import loss expanded. Electrolytic aluminum market sentiment is still depressed and the trading volumes have no obvious increase, with traders keeping stepping aside.   

 

Edited by SHMET

Copper - SHMET Import Market Briefing

Date Dec 01 2017 16:52:54Source:Reuters

Premiums for CIF Shanghai stood at $65-$80while that for shanghai bonded warehouse flatted at $70-$85, a continuing component of previous re-stabilization. LME C-3m valued was $27C. SHFE Spot/LME 3M arb stayed steadily at around 7.81, with an import loss of RMB178/mt, whilst 3M SHFE/LME arb may lose RMB678/mt, with ratio of 7.83.

LME copper inventories continued to fall sharply overnight to 188525.Foreign miners are adamant that copper concentrate supplies will be tight next year as the two parties fail to agree on supply constraints and demand. Meanwhile, smelting capacity still has growth, and given the actual economic situation, copper concentrate TC/RCs should be reduced. However, CSPT still believes that supply and demand will be roughly balanced in 2018, and there may be some excess supply, with no so-called supply shortage. The import traders make a mild inquiry and the market transaction is more stable.

 

Edited by SHMET

Nickel - SHMET Import Market Briefing

Date Nov 30 2017 16:32:45Source:SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $300-$360, and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 8.04and that for 3M SHFE/LME at 7.99, equated to a loss of RMB235/mt in spot and a loss of RMB1455/mt 3M forward.

At the end of the year, the price of stainless steel was still weak, and high profits have prompted a high rate in steel mills, resulting in loose supply. In October, the import of stainless steel was 126,000 tons, of which Indonesian Qinshan imported 674,000 tons. The overall transaction maintains flat in the nickel premium market.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

 

Edited by SHMET

Zinc - SHMET Import Market Briefing

Date Nov 30 2017 16:32:12Source:SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai saw no change, at $155-$165/mt and $160-$170/mt respectively. Today LME C-3m valued at $22.25B high while the SHFE Spot/LME 3M arb also retreated to around 7.92, the spot import loss to RMB1065/mt and expanding loss slightly in forward market, around RMB1392/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB770/mt in spot import market, but may lose RMB1096/mt in forward import.

Domestic zinc ingot inventory maintained at low levels and the supply of zinc concentrate is still not alleviated, but real estate regulation and environmental protection are strengthened, which intensified the weakening of the consumption. Zinc price is expected to be in a volatile pattern. There are many customers’ inquiries in the market, with transactions being general.

 

 

 

Edited by SHMET
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