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SMM Morning Comments (Dec 6): Base Metals Closed Mixed amid Strong US Economic Readings
Dec 06, 2022 10:00
LME and SHFE base metals closed mixed amid strong US economic readings disclosed overnight. Specifically, the US ISM non-manufacturing PMI in November was 56.5, and service industry activity also picked up in November. A series of data were better than market expectations, enhancing the market’s anticipation that the US Fed will still raise interest rates aggressively.
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SMM Morning Comments (Dec 6): Base Metals Closed Mixed amid Strong US Economic Readings
LME and SHFE base metals closed mixed amid strong US economic readings disclosed overnight. Specifically, the US ISM non-manufacturing PMI in November was 56.5, and service industry activity also picked up in November. A series of data were better than market expectations, enhancing the market’s anticipation that the US Fed will still raise interest rates aggressively.
Dec 6, 2022 10:00
CSTTransactions were Thin as Downstream Enterprises were Wait-and-See and Silicon Prices Remained Weak
Silicon metal prices generally fell last week. As of December 2, in east China, prices of standard #553 silicon metal were 18,600-18,900 yuan/mt, down 50 yuan/mt WoW, those of above-standard #553 silicon metal stood at 19,300-19,700 yuan/mt, down 450 yuan/mt WoW, and those of #421 silicon metal were 20,500-20,600 yuan/mt, flat from the previous week.
Dec 6, 2022 09:17
CST
SMM Morning Comments (Dec 5): Base Metals Closed All with Gains on Improving Market Expectations
LME and SHFE base metals closed with gains. As investors took profits ahead of the weekend and US Fed officials delivered speeches on the market outlook, the US dollar pared some of its previous gains and closed down 0.14%, which was bullish for metal prices. In China, the measures for covid control have been adjusted across the country.
Dec 5, 2022 10:00
CST
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SMM Events & Webinars
All- Dec28
2022 SMM Nonferrous Metals Industry Annual Conference
Dec 28 - 30,2022What to expect from the metals industry in 2023 in the context of the continuing economic downturn.Foshan•Guangdong
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SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.
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