[SMM News] supported by good news, the price of Shanghai Copper's main contract rose 1.4 per cent.

Ganfeng Lithium announced that the Company and its partner Mineral Resources Limited have agreed to upgrade the ore treatment capacity of the Mt Marion lithium spodumene project of the joint venture company RIM.

Steel prices ushered in a “good start” in the first week post the Chinese New Year (CNY) holiday amid optimistic sentiment.

On the supply side, the recent Winter Olympics-oriented production restrictions have been issued one after another.

The output of cobalt sulphate in January will be about 5,900 mt in metal content, and the output of cobalt chloride will stand at 4,400 mt in metal content.

The entire tin industry chain participants will gradually be closed for CNY holiday as the festival is already around the corner. Meanwhile, the tin supply and demand have remained weak.

The nickel prices continued its strong momentum last week as the pricing logic driven by pure nickel has not changed fundamentally.

The quotes of battery-grade nickel sulphate stood at 34,500-35,500 yuan/mt last Friday, up 250 yuan/mt from a week earlier.

Experts said that copper, zinc, aluminium and lead prices will stabilise in the next one or two quarters after keeping rising for most of the year in 2021.

The bullish and bearish expectations will be mixed for this week.

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.