Base Metal Spot Discounts Narrow due to Tightening Cash Flows, Rare Earth Prices Up-Shanghai Metals Market

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Base Metal Spot Discounts Narrow due to Tightening Cash Flows, Rare Earth Prices Up

SMM Insight 10:19:23AM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 8 (SMM) – Spot discounts of base metals narrowed due to tightening cash flows after the New Year’s Day holiday. SMM quotes for #1 copper discounts were RMB 60-150/mt, A00 aluminum ingot were RMB 10-50/mt, and #0 zinc were RMB 300-320/mt.

Besides, rare earth prices also changed recently. According to SMM quotes, prices for praseodymium-neodymium alloy were up RMB 5,000/mt, to RMB 390,000-395,000/mt, a rise of 1.3%. Some rare earth downstream producers purchased modestly leading up to the Chinese New Year holiday, and cargo holders are optimistic towards the market after the holiday. SMM took a cautious attitude.

SMM released 10 articles to review the base metal industry in 2012.

Preview on January 9: Reserves Purchase by SRB Boosts the Market

SMM selects original hot topics today to present you industrial focuses around the world and price movements.

 

Base Metal Spot Discounts Narrow due to Tightening Cash Flows, Rare Earth Prices Up

SMM Insight 10:19:23AM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 8 (SMM) – Spot discounts of base metals narrowed due to tightening cash flows after the New Year’s Day holiday. SMM quotes for #1 copper discounts were RMB 60-150/mt, A00 aluminum ingot were RMB 10-50/mt, and #0 zinc were RMB 300-320/mt.

Besides, rare earth prices also changed recently. According to SMM quotes, prices for praseodymium-neodymium alloy were up RMB 5,000/mt, to RMB 390,000-395,000/mt, a rise of 1.3%. Some rare earth downstream producers purchased modestly leading up to the Chinese New Year holiday, and cargo holders are optimistic towards the market after the holiday. SMM took a cautious attitude.

SMM released 10 articles to review the base metal industry in 2012.

Preview on January 9: Reserves Purchase by SRB Boosts the Market

SMM selects original hot topics today to present you industrial focuses around the world and price movements.