Copper Rises in London After China's Imports Jump to Record

SHANGHAI, May 25 -- Copper advanced after Chinese imports of the metal rose to a record in April, renewing expectations that the country's 4 trillion yuan ($586 billion) stimulus program will sustain prices in the short term.

Inbound shipments of refined copper advanced 7 percent from the previous month to 317,947 metric tons, according to final data released today from the Beijing-based customs office. The shipments for the month were a record, said Zhao Kai, an analyst at Jinrui Futures Co.

China has boosted imports of the metal used to make pipes and wires as the government ramps up its stimulus program to counter the impact of the global recession.

"China's record imports, which probably peaked, may still bolster sentiment and spur a short-term rebound in copper prices," analysts led by Tan Wentao at HNA Topwin Futures Co. wrote in an e-mailed report today.

Three-month delivery copper on the London Metal Exchange rose as much as 2.9 percent to $4,599.5 a ton and traded at $4,574 a ton at 4:49 p.m. in Shanghai.

August-delivery copper on the Shanghai Futures Exchange closed 0.6 percent higher at 36,270 yuan after falling as much as 1.2 percent earlier. Copper for July delivery in New York gained 0.9 percent to $2.0695 a pound.

The latest shipments will "further damp prices, especially at a time when we feel demand is cooling," said Edward Fang, an analyst at China International Futures (Shanghai) Co.

Copper also gained after the dollar fell, making the U.S.- currency denominated contracts cheaper. The Dollar Index, a measure of the greenback against six major currencies, has lost 3.2 percent this week on speculation that the U.S. government's creditworthiness may be weakening.

Among other LME-traded metals, aluminum gained 0.3 percent to $1,454 a ton, zinc rose 3.1 percent to $1,487.50 a ton and lead added 2.2 percent to $1,421 a ton. Nickel climbed 2.6 percent to $12,444 a ton and tin advanced 3 percent to $13,700 a ton as of 4:15 p.m. in Shanghai.

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China Large Metal Firms Call for Cutting Tariff on Fertilizer Export

BEIJING, May 20 - Five Chinese large nonferrous metals enterprises have submitted a request to the Ministry of Commerce for cutting tariff on fertilizer export in a bid to relieve excessive oversupply of their byproduct, sulfuric acid, on the domestic market.

The five companies are all specialized in lead and zinc products, suffering tough sales of sulfuric acid since last year.

They are Zhuzhou Smelter Group Co. (600961.SH), Shenzhen Zhongjin Lingnan Nonfemet Co. (000060.SZ), Henan Yuguang Gold & Lead Co. (600531.SH), and Shui Kou Shan Nonferrous Metals Group, and Anyang Yuguang Gold & Lead Nonferrous Metals Co.

Currently, metal companies' sulfuric acid stocks almost fill up their depots, some analysts say.

Insiders point out that as 70 percent of the domestic industrial sulfuric acid is used for producing phosphate and compound fertilizers, the fertilizer sector's performance determines the price of sulfuric acid.

Data from the China Phosphate Fertilizer Industry Association (CPFIA) show that the country's annual diammonium phosphate and monoammonium phosphate capacities now stay at 15 million tons and 16 million tons, respectively, far higher than the domestic demand of 5.5 million tons and 6.5 million tons respectively.

With large stocks, China's phosphate and compound fertilizer enterprises have to depend on export for healthy development.

The Chinese government started to levy special export tariff on fertilizers from April 1, 2008 (export tariff of 35 percent, special tariff of 100 percent). It later adjusted the tariff to 45 percent for slack season, and 120 percent for peak season as of December 1, 2008.

Such move directly led to glut of fertilizer on the domestic market.

According to an official with the China Nonferrous Industry Association, sulfuric acid prices in China had dived from the earlier 2,000 yuan/ton to about 100 yuan/ton, resulting in sharp shrinkage of producers' profits.

An official with Zhongjin Lingnan Nonfemet Co. suggested the government cut tariff on fertilizer export to support nonferrous metals enterprises.

CPFIA vice chairman Zhang Yongzhi earlier proposed implementing zero tariff on fertilizer export from May.

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Russian ferroniobium price stable but few deals concluded

BEIJING (Asian Metal) 20 May 09 - Russian participants reported that local ferroniobium market run in low level, and the majority of the consumers are watching the market. The mainstream price for ferroniobium is stable at RUB1,250-1,350 /kg Nb (USD37-40/kg Nb) in the spot market, the same with the previous week.
A Chelyabinsk-based trader comments that the market is very slack, and the downstream consumers will not purchase until they think the price is rather low. The source has few ferroniobium stocks for now, but won't intend to come to the market to buy the material. "The price for ferroniobium is stable at RUB1,250-1,300 /kg Nb (USD37-39/kg Nb), but there are few deals concluded in the market, " said the source.
The source believes that the ferroniobium consuming industries remain sluggish, and some traders will decrease the offer for ferroniobium in short-term to attract buyers. "We have received some inquiries in late April, but the market became quiet in May, and the price would decline in the near future," said the source.
A Moscow-based trader did not conclude any deals of ferroniobium in the past three months. The source confirmed that the prevailing price is around RUB1,300 /kg Nb (USD39/kg Nb) in spot market. With a monthly trading volume of around two tons, the source remarks that the Russian ferroniobium market shows no sign of recovery, and the downstream steel mills are still running at low levels. The market will remain sluggish till the end of Q2.

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High-grade ferronickel price unchanged

BEIJING (Asian Metal) 19 May 09 – Though nickel market kept going down further, high-grade ferronickel market remained unchanged in China. Several producers have resumed production, but complained the low price and they cannot make many profits. Some producers keep receiving inquiries and orders from customers, and they are not worried about the sales very much. Some other plants have no plan to resume production in the short term, as they hold little confidence in the market recovery.
A producer from Inner Mongolia claimed that their plant just resumed production late April and the output remains at 300tpm. According to the source, some stainless steel producers keep coming to them and they are not worried about the sales very much. However, they are active to sell the material for fear that ferronickel market will retreat again. The source confirmed that most deals of ferronickel 10%min were concluded at RMB1,000/mtu (USD146/mtu) ex works, and they made few profits. According to the source, some big-sized stainless steel plants have started their purchasing of ferronickel, and the demand may become strong soon.
"We are watching nickel market and wish that the market would stop going down as soon as possible," said the source, who believes that high-grade ferronickel market still needs time to recover, and they will pay more attention to the market recovery of stainless steel plants.
Another producer in Inner Mongolia claimed that their output remains at 300tpm, and they insisted on selling ferronickel 10%min at RMB1,000/mtu (USD146/mtu) ex works. However, some buyers prefer to press down the price further, but they are reluctant to sell and would rather hold stocks. According to the source, this grade ferronickel plants are limited in China and the demand from stainless steel plants becomes steady now.
"Nickel market kept retreating in the past days, and we are worried that ferronickel market will follow suit again sooner or later," said the source, who disclosed that their production cost is as high as RMB1,000/mtu (USD146/mtu) and the profit margin is very small. They will keep production in order to maintain the relationship.

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Imported Mn ore price keeps slipping at Chinese ports

It is reported that imported manganese ore price continues drifting at Chinese ports today. As a matter of fact, the price was unstable last Friday and all Chinese traders start to adjust their prices.

Currently, Mn44.01% lump ore shipped from Brazil stands at CNY 36 per mtu to CNY 37 per mtu; Mn48.94% lump ore from Gabon, at CNY 40 per mtu at Zhanjiang port. While, Brazilian Mn45% lump ore still posts at 38yuan/mtu. All the prices are to be adjusted today, according to relative principals.

The recent price change is impacted by the adjustment of offers from global ore miners as BHP has been rumored to rectify its export price since last Thursday. Although there is no official news on BHP's price cut, yet its Mn ore price has been actually reduced, analyst from Mysteel noted and the Australian origin Mn45% lump ore is expected to be cut by USD 4 per mtu by market resources.

At present, manganese ore inventory at Lianyungang port goes at around 0.11 million tonnes down by 0.01 million tonnes to 0.02 million tonnes; that at Qinzhou port, at 0.25 million tonnes a decrease of 0.05 million tonne to 0.06 million tonnes; that at Zhanjiang port at 0.15 million tonnes down by 0.02 million tonnes to 0.03 million tonnes which indicates the transactions turn to be better last week. – Mysteel.net

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Dust-Free Antimony Trioxide

We are able to offer the following Dust-Free Antimony Trioxide price from our supplier in China
Origin: China
Quantity (MT): 60
FOB Price: USD3920/MT
Loading Port: HUANGPU
Specifications:
SB2O3: 99.5% min  96%MIN+ (DOP/CP/DIDP/DINP)1-4%
PB: 0.1% max
AS: 0.6% max
FE: 0.6% max
CU: 0.6% max
SE: 0.005%max
Size: 0,5-0.9um

Packing: in plastic woven bags of 1MT each
Date Posted: 14 May 2009.

Price and availability subject to confirmation. This price quoted supersedes all previous prices.
CNF prices also available, please email us for further details

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Antimony Trioxide Catalyst grade

We are able to offer the following Antimony Trioxide Catalyst price from our supplier in China
Origin: China
Quantity (MT): 60
FOB Price: USD4215/MT
Loading Port: Huangpu
Specifications:
Sb2O3:99.9% min
PB: 0.02% max
AS: 0.01% max
FE: 0.01% max
CU: 0.01% max
Size: 0.5-0.9UM
Packing: in 25KG bags of 1MT each
Date Posted: 14 May 2009.

Price and availability subject to confirmation. This price quoted supersedes all previous prices.
CNF prices also available, please email us for further details

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