Nonferrous metals differentiate today with stable tendency. SHFE Lead leading loss with nearly 3% drop.
price review forecast
This week see most rise for nickel price. But SMM learned that price of stainless steel did not follow nickel’s tendency.
The following table is base metals movement on the SHFE market on Nov. 23 2017.
The estimation is that 11,000 tons of molten iron output will be affected in the week, 1,500 tons per day on average.
It is estimated that the price of chemical grade silicon is very likely to stay at consolidation next month.
As per data released by LME on Wednesday, LME Zinc inventory dropped to 222,525 tons. As per data released by SHFE, SHFE Zinc inventory rose to 84,510 tons last Friday.
In 2017, Argentina’s imported alumina is estimated to surge to 120,478 tons. China is the largest bauxite source country of Argentina.
As per SMM inventory data, this week domestic social inventory of RB steel reaches 3.4638 million tons, down 273,600 tons on weekly basis by 7.3%.
Fortescue Metals Group adjusts discounts in December. FB (fine blended) is adjusted to 29% from 25.5% in November. Discount of SSF (Super special fine) maintains 40%.
On Nov.23rd, as per SMM statistics, the domestic refined aluminium social inventory (SHFE warrants included) is listed as follows:
Nickel supply and demand is balanced this year, and the price is estimated to go up next year.
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