China’s new subsidy policy on new-energy vehicles is set to give only limited boost to demand for cobalt and lithium as it was within industry expectations, SMM believes.
China’s aluminium inventory after Chinese New Year may continue to go up to 2.1 million mt and the price of the lightweight metal is set to trade in a wider range, SMM believes.
Strikes are expected to be the biggest factor affecting copper ore supply in 2018, with 30 labour negotiations already planned this year in Chile alone.
China's manganese supply is expected to stay relatively tight after Chinese New Year with prices remaining until mid-March, SMM believes.
SMM Morning Comments
price review forecast
The operating rates at Chinese domestic zinc concentrate mines are expected to drop further in February, leaving smelters more reliant on imported materials.
Zinc prices may be under pressure after Chinese New Year as import loss narrows, SMM believes.
Nickel ore exports from the Philippines and Indonesia are expected to rise in February due to better weather condition in both countries and restocking need at Chinese nickel pig iron producers.
SMM Evening Comments
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Wednesday February 14, 2018.
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