The moves of SHFE and LME have been heading toward different directions recently. As of December 8, LME lead has been falling for five consecutive sessions. SHFE lead, on the other hand, rallied strongly after falling for two days in a row, and rose 1.88% to 15,175 yuan/mt to close the day.

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 generally went down on Thursday morning after Fed’s hawkish statement. Meanwhile, their counterparts on LME trended mixed.

TCs in Yunnan were muted amid import restrictions in Myanmar and Vietnam.

Nickel stocks across LME-approved warehouses gained 2,874 mt on Monday to 69,180 mt

Rebar inventories across mills in China rose 1.8% from a week ago to stand at 2.22 million mt as of Thursday May 24

Spot iron ore trading in China was less active on Thursday May 3 after steel mills increased procurement the previous day

China's inventory of aluminium including SHFE warrants amounted to 2.248 million mt as of Thursday April 19, according to SMM data.

China's inventory of aluminium including SHFE warrants amounted to about 2.216 million mt as of Monday April 16, according to SMM data.

China’s social inventory of rebar dipped 4% for the week ended March 29, a bigger drop than 3.5% seen the previous week, SMM survey showed.