[SMM Daily Review: High-grade NPI Prices Hold Steady, Downstream Steel Mills' Purchase Willingness Low] December 9 (SMM) - The average price of SMM 10-12% high-grade NPI was 886.5 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu MoM from the previous working day.

[ SMM Tin Noon Review: SHFE tin maintains fluctuating trend Low inventory and tight balance provide bottom support for tin price ]

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 300-240 yuan/mt, with an average discount of 270 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 91,470 to 92,230 yuan/mt, with an average of 91,850 yuan/mt, down 50 yuan/mt from the previous trading day.

[SMM Aluminum Morning Meeting Minutes: Strong Macro Expectations Continue to Underpin Aluminum Prices, High Price Resilience Faces Test] In summary, robust macro expectations have built a solid bottom support for aluminum prices, but seasonal pressures from the fundamentals are gradually emerging. Amid the interplay between these factors, the upside potential for aluminum prices is constrained by weakening spot aluminum fundamentals and downstream sentiment wary of high prices, necessitating vigilance against the risk of a pullback from elevated levels.

SMM Morning Meeting Minutes: LME copper opened at $11,657.5/mt overnight, with its price center gradually rising at the beginning of the session, touching a high of $11,707/mt, then falling straight to a low of $11,583/mt, and finally closing at $11,675/mt, up 0.09%, with trading volume reaching 21,000 lots and open interest reaching 342,000 lots. The most-traded SHFE copper 2601 contract opened at 92,820 yuan/mt overnight, touched a high of 93,040 yuan/mt at the beginning of the session, then fluctuated downward to a low of 92,020 yuan/mt, and finally closed at 92,400 yuan/mt, down 0.04%, with trading volume reaching 77,000 lots and open interest reaching 222,000 lots.