Metals News
Base Metal Spot Discounts Narrow due to Tightening Cash Flows, Rare Earth Prices Up
smm insight
10:19AM
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.

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