Which Direction Will Metals Market Trade After Wednesday’s Tumbles?

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

Domestic lead-acid battery producers have recently announced output cut plans for the upcoming 2017 Chinese National Day and Mid-Autumn holidays in early October.

Domestic lead-acid battery producers face growing cost burdens in 2017, SMM lead analyst said 2017 SMM Secondary Lead-acid Battery Summit.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

The price spread between domestic and imported zinc has narrowed recently, SMM noted.

Global nickel market was in a shortage of 35,300 tonnes during the first four months of 2017, according to the World Bureau of Metal Statistics (WBMS). 

One stainless steel mill in north China released its benchmark procurement price for high-grade NPI for May at 830 yuan per mtu (price to factory, including tax, by cash), SMM learns.

Global Ferronickel reported its net income tumbled 97 percent to P37.5 million in 2016, down from P1.11 billion in 2015, it said in a regulatory filing. 

What's the impact on copper supply from the strike?

China’s stainless crude steel output was 24.94 million tonnes in 2016, a new record high, according to Stainless Steel Council of China Special Steel Enterprises Association.