[update] April 13 SMM Brass Rod Price: SMM- Golden Dragon Brass Rod Price up 300 yuan

Today, the spot prices of all series of stainless steel products in Foshan stood flat today. The average price of the 300 series product was around 18,000 yuan/mt. The market received a large number of goods last week, while the demand failed to keep up. The downstream users continued to purchase on rigid demand after the prices rebounded slightly yesterday.

The most-traded SHFE aluminum contract opened at 21,190 yuan/mt, with the highest and lowest prices at 21,505 yuan/mt and 21,115 yuan/mt respectively, and closed at 21,450 yuan/mt in the overnight trading, up 350 yuan/mt or 1.51%.

The average price of Ni 1.5% Philippine laterite nickel ore stood at $82/wmt last week, flat on the week.

This is a roundup of news in the steel industry for last week.

The falling prices of coal and other energy sources have dragged down the metals prices across the board. The SS 2112 contract fell to 18,375 yuan/mt this morning and stabilised to stand at 19,005 yuan/mt at noon.

Copper prices will continue to fluctuate rangebound in the short term. SHFE copper prices are expected to move between 68,500-71,000/mt this week, and LME copper will trade between $9,250-9,650/mt.

The average price of SMM 8-12% high-grade NPI was 1,390 yuan/mtu (ex-factory including tax) as of August 20

Norilsk nickel in the Shanghai market was offered at a discount of 500 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on the morning of Tuesday April 10

Premiums of Russian nickel against contract 1802 move at discounts 100-200 yuan.

Flash: Copper spot premiums in Shanghai