SMM Metals Reports

Aluminum Prices in East China Extend Gains on Growing Demand (Nov. 21, 2014)

SHANGHAI, Nov. 21 (SMM) – Spot aluminum largely traded at RMB 13,680-13,700/mt in Shanghai on Friday, discounts of RMB 10-30/mt over SHFE 1412 aluminum contract, versus RMB 13,680-13,690/mt in Wuxi and RMB 13,710-13,720/mt in Hangzhou. Demand picked up as the weekend is around the corner, pushing prices up RMB 30-40/mt. 

Growing Supply in Shanghai Restrains Spot Copper Premiums (Nov. 21, 2014)

SHANGHAI, Nov. 21 (SMM) – Spot copper in Shanghai was quoted Friday at a RMB 80-150/mt premium to the SHFE 1412 copper contract. Standard- and high-quality copper sold for RMB 47,920-48,020/mt and RMB 47,960-48,100/mt, respectively.

Jiangxi Copper Expects China Copper Demand to Grow 7% in 2015

SHANGHAI, Nov. 20 (SMM) – China’s copper consumption is expected to rise 7% in 2015, wenhua.com.cn quoted an official of Jiangxi Copper Corp. as saying at an industry conference in Shanghai yesterday.
“We remain optimistic about Chinese growth, and expect a 7% increase in copper consumption next year”, said Wu Yuneng, Deputy General Manager at the renowned Chinese copper producer.
The projection is slightly higher than other institutions. Earlier report says JPMorgan Chase & Co. predicts a 6.5% growth in China’s copper demand next year.  

Aluminum Prices in East China Rebound Slightly (Nov. 20, 2014)


SHANGHAI, Nov. 20 (SMM) – Spot aluminum largely traded at RMB 13,650-13,660/mt in Shanghai on Thursday, discounts of RMB 10-20/mt over SHFE 1412 aluminum contract, versus RMB 13,630-13,640/mt in Wuxi and RMB 13,670-13,680/mt in Hangzhou. Aluminum prices gained RMB 40/mt, giving sellers incentive to move goods. Downstream producers responded by buying only to need. 
 

Physical Copper in Shanghai Quoted at RMB 80-160/mt Premiums (Nov. 20, 2014)

SHANGHAI, Nov. 20 (SMM) – Spot copper in Shanghai was quoted on Thursday at a RMB 80-160/mt premium to the SHFE 1412 copper contract. Standard- and high-quality copper sold for RMB 47,920-47,980/mt and RMB 47,960-48,060/mt, respectively.