Editorial

Losses of zinc import ratio expand with low bonded trades

Date Nov 16 2018 14:30:52Source:SHMET

SHANGHAI, Nov 16 (SHMET) – Premium for domestic spot zinc ingots continued to decline on November 16. Spanish zinc ingots were offered flat against SHFE zinc 1812 contract. Falling zinc import ratio extends losses. Bonded trades for zinc ingots were thin. Premiums for B/L Shanghai stood at $150-170/mt cif and those for warrants in Shanghai bonded warehouse quoted at $170-190/mt, unchanged from November 15.

LME cash zinc had a backwardation of 73/mt against LME 3M zinc. For brands not exempted from customs tariff, the SHFE/LME cash price ratio came in at 8.21, and at 8.29 for duty-free Australia, South Korea brand zinc ingots. For brands not exempted from customs tariff, spot import losses stood at 1,104 yuan/mt, and 872 yuan/mt in forward import. For duty-free Australia, South Korea brand products, spot import losses registered at 840 yuan/mt, and 813 yuan/mt in forward import. 

For editorial queries, please email to shmet@shmet.com

 

Cash nickel imports become profitable

Date Nov 16 2018 14:11:06Source:SHMET

SHANGHAI, Nov 16 (SHMET) – Quotes of imported nickel in domestic market were relatively stable on November 16.

As of 13:42 today, import profits of Russian nickel stood at 378 yuan/mt, while import losses of nickel in forward market shrank to 1,307 yuan/mt from yesterday. 

Though China-US economic and trade tensions slightly eased, nickel market was still soft. Spot discount against LME 3M nickel continued to fall.

In the nickel market, premiums for nickel cathode under bill of lading in Shanghai held at $200-$280/mt cif, and those under warrants in Shanghai bonded warehouse stood at $220-$280/mt cif. SHFE cash nickel/LME 3M nickel ratio was at 8.44 and that for SHFE/LME 3M ratio at 8.31.

For editorial queries, please email to shmet@shmet.com.

Major copper products see steady growth in Q1-Q3 2018

Date Nov 16 2018 14:08:42Source:SHMET

SHANGHAI, Nov 16 (SHMET) – During first three quarters, production of major copper products saw steady growth. Refined copper and copper products’ production were at 6.61 million mt and 12.49 million mt respectively, increasing 11.2% and 12% year on year, according to MIIT. Spot copper average price was 51,075 yuan/mt, increasing 7% year on year with growth rate falling 1.6 percentage points from January to August.

Meanwhile, copper industry realized profits of 25.18 billion yuan. Among that, mining, smelting processing industries achieved profits of 5.28 billion yuan, 9.22 billion yuan and 10.68 billion yuan respectively.

Accumulated imports of unwrought copper and copper products during the period increased 16.1% year on year to 3.99 million mt. Copper concentrates imports (metal content) were 14.99 million mt, rising 19.5% year on year.

For editorial queries, please email to shmet@shmet.com

Import losses of aluminum shrink to 2684 yuan/mt

Date Nov 16 2018 13:54:28Source:SHMET

SHANGHAI, Nov 16 (SHMET) – Aluminum import losses slightly narrowed from yesterday, as SHFE/LME ratio edged up on November 16. Meanwhile, spot aluminum price rose up today. LME aluminum inventory increased. LME cash aluminum was at contango of $21.5/mt against LME 3M aluminum.

In the aluminum market, premiums for goods under bill of lading in Shanghai held at $90-$110/mt cif, and those for goods under warrants in Shanghai bonded warehouse stood at $90-$110/mt cif. The SHFE /LME cash aluminum ratio registered at 7.11, and this created spot import losses at around 2,684 yuan/mt, and losses of 2,790 yuan/mt in forward market.

For editorial queries, please email to shmet@shmet.com.

Easpring Material Technology focuses on developing high nickel products

Date Nov 16 2018 10:10:27Source:SHMET

SHANGHAI, Nov 16 (SHMET) – With strong demand, Beijing Easpring Material Technology’s production lines ran at almost full capacity, the company said. Though NCM523 material is the major product of multicomponent material products, the proportion of high nickel products is gradually increasing. Particularly, NCM811 has been in bulk supply, with growing shipments.

Multicomponent material with high nickel and low cobalt is the direction for future power lithium anode material. To develop the next generation of lithium anode materials, the company has organized a special research team to develop solid lithium electrical materials and lithium-rich manganese-based materials to further reduce cobalt content in batteries.

For editorial queries, please email to shmet@shmet.com.

Page6of2268