Latest news with #SHFE-monitored
Business Recorder
22-07-2025
- Business
- Business Recorder
Shanghai aluminium hits nearly 9-month high on prospect of better China demand
SINGAPORE: The most-traded aluminium contract on the Shanghai Futures Exchange on Tuesday hit the highest since November on possibly better demand for metals from China as authorities vow to stabilise industrial growth, including metals. SHFE aluminium rose 0.75% to 20,900 yuan ($2,913.26) a ton by 0702 GMT, or the highest since November 12. 'Aluminium fundamentals are the most solid among metals in China, especially being the only metal with a smelting capacity capped at 45 million tons, and alumina price surge has also been supportive,' a Shanghai-based metals analyst at a futures company said. SHFE alumina gained 4.23% to 3,452 yuan a ton, or the highest since Feb 26, and aluminium stocks at the SHFE-monitored warehouses totalled 108,822 tons by July 18, or the lowest since February 2024 albeit three consecutive weeks of rebounds. 'The Chinese government's working plans to stabilize industrial growth and the launch of the giant Tibet hydropower plant are all positive signals to the metals market, with the prospect of the country's metals demand boosting the sentiment,' a Beijing-based futures analyst at a futures company said. However, it's unclear how much actual demand will materialise, the analyst added. A Shanghai analyst echoed the view, saying, 'Amid all the uncertainties, such news sounds definite and positive, which may support the commodities futures market for a while.' On July 19, China began building the world's largest hydropower dam on the eastern rim of the Tibetan Plateau at an estimated cost of at least $170 billion. Meanwhile, SHFE nickel gained 1.51% to 123,530 yuan a ton, tin rose 1.11% to 268,520 yuan, zinc grew 0.7% to 22,945 yuan, being the highest since April 2, copper added 0.61% to 79,740 yuan, while lead ticked down 0.21% to 16,900 yuan. On the London Metals Exchange, the three-month zinc gained 0.14% to $2,842.5 a ton, tin inched up 0.1% to $33,845, and copper added 0.07% to $9,866.5, while lead ebbed 0.55% to $2,003.5, nickel fell 0.18% to $15,495, and aliuminium traded flat at $2,645.5.
Business Recorder
07-07-2025
- Business
- Business Recorder
Copper prices fall amid uncertainty over US trade talks
SINGAPORE: Copper prices on the Shanghai Futures Exchange and London Metal Exchange fell on Monday, pressured by concerns over US trade negotiations and uncertainty surrounding potential tariffs ahead of President Donald Trump's July 9 deadline. The three-month copper contract on the LME fell 0.31% to $9,834 per metric ton by 0103 GMT and the most-traded contract on the SHFE lost 0.91% to 79,440 yuan ($11,088.00) a ton. The US is close to finalising several trade agreements and will notify about a dozen countries of higher tariff rates starting Monday, President Donald Trump said on Sunday, with the higher rates scheduled to take effect on August 1. 'Markets are fretting that Trump's policies could trigger a global economic slowdown and hurt demand for industrial commodities,' ANZ said. 'Copper price softening is expected also with rising copper stocks at LME and SHFE recently and the dampened consumption enthusiasm on higher prices,' a Shanghai-based metal analyst at a futures company said. Copper inventories at SHFE-monitored warehouses gained for the first week after three by July 4, rising 3.7% to 84,589 tons, which is 73.7% lower on the year. Copper set for weekly gains; potential US tariffs on metal eyed Total copper stocks at the LME-registered warehouses rose for four consecutive days till Friday, advancing 5% to 95,275 tons. SHFE nickel fell 1.05% to 121,190 yuan a ton, zinc receded 0.83% to 22,165 yuan, tin fell 0.82% to 266,770 yuan, aluminium lost 0.68% to 20,500 yuan and lead shed 0.29% to 17,220 yuan. LME nickel slipped 0.36% to $15,235 a ton, zinc eased 0.24% to $2,717.5, lead ebbed 0.17% to $2,055, while tin added 0.07% to $33,725.
New Straits Times
07-07-2025
- Business
- New Straits Times
Copper prices fall amid uncertainty over US trade talks
SINGAPORE: Copper prices on the Shanghai Futures Exchange and London Metal Exchange fell on Monday, pressured by concerns over US trade negotiations and uncertainty surrounding potential tariffs ahead of President Donald Trump's July 9 deadline. The three-month copper contract on the LME fell 0.31 per cent to US$9,834 per metric ton by 0103 GMT and the most-traded contract on the SHFE lost 0.91 per cent to 79,440 yuan (US$11,088.00) a ton. The US is close to finalising several trade agreements and will notify about a dozen countries of higher tariff rates starting Monday, President Donald Trump said on Sunday, with the higher rates scheduled to take effect on August 1. "Markets are fretting that Trump's policies could trigger a global economic slowdown and hurt demand for industrial commodities," ANZ said. "Copper price softening is expected also with rising copper stocks at LME and SHFE recently and the dampened consumption enthusiasm on higher prices," a Shanghai-based metal analyst at a futures company said. Copper inventories at SHFE-monitored warehouses gained for the first week after three by July 4, rising 3.7 per cent to 84,589 tons, which is 73.7 per cent lower on the year. Total copper stocks at the LME-registered warehouses rose for four consecutive days till Friday, advancing 5 per cent to 95,275 tons. SHFE nickel fell 1.05 per cent to 121,190 yuan a ton, zinc receded 0.83 per cent to 22,165 yuan, tin fell 0.82 per cent to 266,770 yuan, aluminium lost 0.68 per cent to 20,500 yuan and lead shed 0.29 per cent to 17,220 yuan. LME nickel slipped 0.36 per cent to US$15,235 a ton, zinc eased 0.24 per cent to US$2,717.5, lead ebbed 0.17 per cent to US$2,055, while tin added 0.07 per cent to US$33,725.
Business Recorder
30-06-2025
- Business
- Business Recorder
Copper rangebound as market awaits US trade talks, tariff clarity
SINGAPORE: Copper prices on the London Metal Exchange and Shanghai Futures Exchange traded in a range on Monday, as investors awaited progress in US trade talks and clarity on potential copper import tariffs. Three-month copper on the LME eased 0.15% to $9,863 per metric ton as of 0105 GMT, while the most-traded copper contract on the SHFE gained 0.13% to 79,840 yuan ($11,132.03) a ton. Uncertainty clouded US trade talks after President Donald Trump abruptly ended negotiations with Canada on Friday, denouncing its tax on US tech firms as a 'blatant attack' and vowing to impose new tariffs on Canadian goods within the week. Meanwhile, expectations that the US will impose tariffs on copper imports have pulled metal to that country, leaving shortages elsewhere. 'The ongoing squeeze on the LME also provided some support to prices,' ANZ said. 'Spot copper contracts continue to trade at huge premiums to later-dated futures. Supplies in LME warehouses have been partly drained due to record shipments to the US ahead of upcoming tariffs.' Copper stocks in LME-registered warehouses fell 1,800 tons to 91,275 tons on Friday, the lowest since August 2023. Copper slips from three-month peak on Chinese data Inventories in the SHFE-monitored warehouses fell 19% in the week ended Friday to 81,550 tons, the lowest since May 9. LME tin fell 0.41% to $33,625 a ton, lead lost 0.34% to $2,037, zinc shed 0.32% to $2,770, nickel dipped 0.23% to $15,210 and aluminium eased 0.19% to $2,590. SHFE tin fell 0.63% to 268,030 yuan, lead dipped 0.29% to 17,145 yuan and aluminium dropped 0.22% to 20,530 yuan, while nickel gained 0.13% to 79,840 yuan.
Business Recorder
10-05-2025
- Business
- Business Recorder
Copper steady ahead of US-China trade talks, focus on tighter nearby supply
LONDON: Copper steadied on Friday ahead of US-China trade talks, with the market focused on tighter nearby supply, reflected in the premium for nearby copper contracts against those further out hitting a 2-1/5 half-year high. Benchmark three-month copper on the London Metal Exchange (LME) was unchanged at $9,432 a metric in official open-outcry trading. US President Donald Trump said that 80% tariffs on Chinese goods 'seems right' as representatives prepared for weekend talks to contain a trade war between the world's two largest economies which poses long-term risks to global metals demand. In the short term, the trade spat and a separate investigation in Washington on whether to impose new copper import tariffs have been reducing the availability of copper on the Shanghai Futures Exchange (SHFE) and within the LME system by attracting more metal into the COMEX-owned warehouses. 'The overall tightening in copper's fundamentals can been seen with widening backwardations for near-month contracts on the LME and SHFE,' said Natalie Scott-Gray, senior metals analyst at StoneX. This tightness is temporary and will not offset the wider implications of a long-lasting US-China trade war, she added. As outflows to the US coincided with the seasonal growth of demand in China, copper inventories in SHFE-monitored warehouses have been falling faster than originally expected in recent weeks. These stocks fell 9.6% this week and are down 70% since end-February, widening the premium of SHFE June copper contracts over the October ones. On the LME, the spread between the cash LME and the three-month copper contract was last at a premium of $49 a ton, the highest since November 2022. It swung from a discount of $63 in early April as stocks in the LME-registered warehouses continue to see outflows. Indicating robust import demand in top metals consumer China, the Yangshan copper premium is at $102 per ton, the highest since December 2023 versus $35 at end-February. China's copper concentrate imports reached a record high in April, spurred by an expansion of domestic copper smelting capacity, while unwrought copper imports were steady amid high shipments to US from Asia. LME aluminium was flat at $2,412 a ton, zinc rose 1% to $2,645, lead added 1.7% to $1,978, and nickel was up 0.5% to $15,615, while tin fell 0.7% to $31,650.
