Shanghai nonferrous metals closed all in the positive territory as the energy crisis has overwhelmed the globe.

Shanghai base metals rose across the board on the morning of the first trading day after the National Day long holiday. Meanwhile, their counterparts on LME all went up as well.

Shanghai base metals trended mixed on Monday morning under China’s intensifying dual control policy. Meanwhile, their counterparts on LME basically rose.

Shanghai base metals basically rose across the board on Thursday morning on dipping US dollar index. Meanwhile, their counterparts on LME were trending mixed.

Shanghai base metals basically trending higher across the board on Thursday morning after Fed’s Beige Book indicated the slower US economic growth and growing inflation rate. Meanwhile, their counterparts on LME trended mixed.

According to customs data, China's aluminium plate/sheet and strip exports in July 2021 were 262,400 mt, an increase of 11% month-on-month and 53% year-on-year.

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

China's exports of lanthanum oxide soared 60% year on year to 959 mt in June, up 16% month on month. China's cerium oxide exports surged 62% year on year to 261 mt in June, a drop of 23% from May.

China’s real estate development and sales improved in November, on the back of accelerated growth across the completion of real estate investment, sales of commercial buildings, sources of funds for real estate development enterprises and national real estate climate index.

SMM Evening Comments