Indonesia refined tin exports dip 32% YoY in Aug

Shanghai base metals basically went up in the overnight trading after an agreement was reached between democratic and republican parties on Biden’s 579 billion infrastructure plan. LME base metals mostly increased as well.

Shanghai base metals all went up on Wednesday night as the US June Markit PMI for manufacturing industry registered 62.6. LME base metals all rose as well.

China exported 30,000 mt of alumina in January-February, down 82.7% from the same period a year ago, showed that latest data from the China Customs. Separately, China’s exports of unwrought aluminium and aluminium semi products came in at 669,208 mt in the first two months of the year, down 25.3% from a year earlier.

SMM estimates that there were 90 vessels carrying 12.01 million mt of iron ore arrived at major Chinese ports during March 8-14, up 400,000 mt from the week ended March 7 and up 1.6 million mt from the same period a year earlier. Arrivals in China’s steelmaking hub Tangshan increased on the week. 

SHFE base metals, except for tin, traded higher overnight

SHFE base metals, except for tin, traded lower overnight

SMM retains a bearish outlook on tin fundamentals as downstream markets begin a slow season in Jul

SMM Morning Comments

SMM Morning Comments

SMM Morning Comments