Hebei mill settles August silicomanganese tender lower

According to the latest release of the General Administration of Customs and SMM statistics, in December 2021, the ferro-silico-manganese exports stood at 6613.32 mt, a 9.33% decrease month-on-month, an increase of 20.02% year-on-year.

Ulanqab Ferro Alloy Industry recently issued a notice, calling for production reductions of manufacturers in west Inner Mongolia amid market oversupply.

The National Bureau of Statistics showed that crude steel production in October was 71.58 million mt, down 2.9% month-on-month, and down 23.3% year-on-year;

Shanghai base metals all cruised higher on Friday morning after the head of the Federal Reserve told Congress he saw no need to rush the shift towards tighter post-pandemic monetary policy. Meanwhile, their counterparts on the LME mostly cruised lower.

Shanghai base metals were mostly higher on Monday morning as investors digested a better-than-expected US jobs report. Meanwhile, their counterparts on the LME fell for the most part.

Shanghai base metals mostly cruised lower on Tuesday morning despite gains overnight on Wall Street that saw the S&P 500 and Nasdaq Composite touching fresh record closing highs. Meanwhile, their counterparts on the LME traded mixed.

Nonferrous metals on the SHFE were mostly higher on Thursday morning on a positive note following record gains on Wall Street after the US Federal Reserve’s policymaking committee voted to keep short-term borrowing rates near zero. Meanwhile, their counterparts on the LME also rose for the most part.

Shanghai base metals were mostly higher on Monday morning as investors reacted to last week’s US jobs report that trounced expectations and fueled hopes for a faster economic recovery. Meanwhile, their counterparts on the LME rose across the board.

The SHFE 1909 contract weakened to the 47,000 yuan/mt level last week

Slow recovery of battery demand to keep prices of cobalt salts languishing near the bottom