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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.
Latest China Tin Markets
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
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
SMM Evening Comments (Dec 2): Shanghai Nonferrous Metals Closed Mostly with Gains on Subsiding US Inflation
Shanghai nonferrous metals closed mostly with gains as the US inflation pressure showed signs of weakening based on the latest PCE price index, which recorded the smallest year-on-year increase since the end of last year.
Dec 2, 2022 18:00
CSTSMM Morning Comments (Dec 2): Base Metals Closed Mostly with Gains on Better Market Sentiment
LME and SHFE base metals closed mostly with gains overnight. Recently, the dollar has continued to fall on signs that inflation is slowing and the Fed may slow down the pace of rate hikes, which was bullish for metal prices.
Dec 2, 2022 10:00
CST
SMM Evening Comments (Dec 1): Shanghai Nonferrous Metals Closed with Gains on Improving Market Outlook
Shanghai nonferrous metals closed with gains as Fed Chairman Powell said in a speech yesterday that the Fed is prepared to slow down rate hikes at the December meeting. The market environment is expected to pick up in the future.
Dec 1, 2022 18:00
CSTSMM Morning Comments (Dec 1): Base Metals Closed with Gains on Powell Suggesting Slowing US Rate Hikes
LME and SHFE base metals closed with gains overnight. On the macro front, Powell confirmed a slower pace of interest rate hikes from December at the earliest, supporting continued rate hikes and peak interest rates potentially higher than expected.
Dec 1, 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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