As profits of #300 stainless steel declined, a plant in north-west China cut output of the series and planned to produce more #400 stainless steel instead, SMM learned.
Prices of residential property in most Chinese cities continued to decline in February 2018, SMM learned.
Seaborne iron ore trade flow in mid-to-late Mar
The following table shows the movements of ferrous and nonferrous metals on the SHFE and DCE on Monday March 19, 2018.
China's inventory of refined aluminium including SHFE warrants stood at 2.286 million mt as of Monday March 19.
Tin was mostly trading at 143,000-145,000 yuan/mt on Monday March 19 in the Shanghai market with little volatility, SMM learned.
China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs.
Spot copper in the Shanghai market was offered at a discount of 260-220 yuan/mt on the morning of Monday March 19, SMM learned.
Nickel ore inventory at Chinese ports dropped to 6.63 million wmt as of Friday, March 16, SMM data showed. This was down by 280,000 wmt from a week ago.
Operating rates at silicon producers in Yunnan province remained low due to power shortage as it is still sometime away from the wet season, SMM learned.
Copyright © 2018 SMM Inc. All rights reserved.