Newssummary: Yunnan Hualian Zinc&Indium 8,000-tonne Daily Ore Dressing Project Passes Environmental Tests

Total zinc ingots inventories across seven major markets in China stood at 284,100 mt as of April 15, up 6,100 mt from April 8, down 3,700 mt from April 11.

Shanghai base metals mostly trended lower on Tuesday morning after US dollar rallied significantly. Meanwhile, their counterparts on LME performed similarly.

Shanghai nonferrous metals mostly closed in the positive territory as the market was cheered up by the macro front, as China released its December official manufacturing and non-manufacturing PMI readings, which topped market expectation.

SHFE and LME zinc prices once again hit new highs in two months, mainly owing to the continuously rising electricity and natural gas prices which rose by more than 20% amid intensifying energy shortages in the eurozone, according to SMM. Meanwhile, the costs of smelters also climbed due to low zinc concentrate TCs as a result of tight supply.

Market focus this week includes the readings of the manufacturing PMI in the Eurozone in November and the Markit manufacturing PMI in the United States in November; the one-year loan market interest rate as of November 22 in China. On the events front, the Federal Reserve FOMC will release the minutes of the monetary policy meeting this Thursday; Bank of England Governor Bailey will deliver a speech this Friday.

Shanghai base metals basically trended higher on Tuesday morning amid extended power rationing. Meanwhile, their counterparts on LME mostly fell.

The government of Southwest China’s Yunnan province has rolled out plans to promote major companies’ commercial stockpiling of key non-ferrous metals, including copper, aluminium, lead, zinc, tin, germanium and indium, as part of the effort to support the metals market impacted by the coronavirus pandemic and to boost the development of the real economy. 

Trading in the indium spot market in China was lacklustre during the week ended Friday June 7 as a declining market kept buyers and sellers on the sidelines

Trading in the indium spot market in China was lacklustre during the week ended Friday April 27 as both buyers and sellers were keen to delay deals until the VAT cut takes effect on May 1

As the China-US trade war worsened, stock prices of Chinese minor metal producers dropped for the most part on Wednesday April 18 at Shanghai and Shenzhen Stock Exchanges, SMM learned.