Aluminum - SHMET Import Market Briefing 20170922

Date Sep 22 2017 17:15:37Source: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 $27.25C. SHFE Spot/LME 3M arb flattened out at 7.73, suggesting importing may lose around RMB865/mt in spot market and RMB730/mt in forward market.

There is a general sense of fear in the market due to the high levels of the stocks. Failing to open the import window, there is a sustained downturn in the transaction of the import market, without seeing obvious increase in the trading volumes. Purchasers are expected to mainly step aside for the time being.

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Copper - SHMET Import Market Briefing 20170922

Date Sep 22 2017 17:15:17Source:SHMET

Premiums for CIF Shanghai stood at $55-$60 while that for shanghai bonded warehouse flatted at $60-$70, a continuing component of previous re-stabilization. LME C-3m valued was $44C. SHFE Spot/LME 3M arb stayed steadily at around 7.84, with an import gain of RMB182/mt, whilst 3M SHFE/LME arb may lose RMB467/mt, with ratio 7.76.

There was no increase in LME stocks yesterday with a decrease of 2,600 tons instead.      SHFE/LME arb maintains at around Break-Even point, with an increased activity in the quotation among traders. The premium range is stable and there are more enquiries in B/L than that in warrant, with the warrant maintaining above US$60. There is a little progress in the market transactions.

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Nickel - SHMET Import Market Briefing 20170921

Date Sep 21 2017 17:22:11Source:SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $230-$250 ,and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 8.03 and that for 3M SHFE/LME at 7.96, equated to a loss of RMB922/mt in spot and a profit of RMB725/mt 3M forward.

Nickel price continues to be weak. Stainless steel price fell slightly and the stocks increased.  Imports of stainless steel put pressure on domestic market, where no better supply should be stimulated and the premium remains unchanged.

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Zinc - SHMET Import Market Briefing 20170921

Date Sep 21 2017 17:21:54Source:SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai saw no change, at $185-$195/mt and $180-$190/mt respectively. Yesterday LME C-3m valued at $17.25B while the SHFE active/LME 3M arb also retreated to around 8.34, the spot import gain to RMB136/mt and expanding loss slightly in forward market, around RMB682/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a gain of RMB500/mt in spot import market, but may lose RMB427/mt in forward import.

There is no increase in LME zinc stocks. The global zinc consumption terminal is generally positive this year and the supply is tightening, with the global zinc supply and demand mainly relying on the output of domestic zinc concentrate next year, which will push up the zinc price gradually.  Sellers insist on selling with a high premium, with a few market transactions.

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