Weekly Review of spot Trading of basic Metals in SMM (2020.06.29muri 2020.07.03)
Affected by many bad news, copper rod processing fees have dropped significantly all over the country this week. [SMM Analysis]
The CSPT group meeting determined the TC/RC floor price of copper concentrate in the third quarter.
In May, Codelco copper production increased 3% year on year, Escondida mine copper output decreased 5.6% year on year.
[SMM data] the inflection point of the average increase in copper inventory in the mainstream consumer areas across the country this week has arrived!
New progress in the monitoring system of copper and aluminum imports from India is subject to the approval of the General Administration of Foreign Trade.
[SMM analysis] supply increases, demand weakens, aluminum bar processing fees fall under pressure.
[SMM Analysis] Comprehensive PMI48.3 of China's aluminum processing industry declined for three consecutive months in June.
[SMM Analysis] Analysis of the influence of the change of Import waste Aluminum Policy on Aluminum Industry chain
The weekly start-up of lead-acid battery increases slightly, but it is only limited after the holiday. [SMM investigation]
[SMM investigation] waste batteries hold the certificate of high price and the operating rate of recycled lead is 53.4% per week.
[SMM data] the impact of recycled lead on the primary lead market the social inventory of lead ingots has increased for eight consecutive years.
Inventory of zinc ingots in SMM Free Trade Zone on July 3 [SMM data]
Social inventory of zinc ingots in Seven places of SMM on July 3 [SMM data]
[SMM Analysis] supply Increment & consumption weakening month-on-month the inflection point of zinc ingot stock accumulation in the society may be coming.
[SMM Analysis] Guangdong Zinc spot Shengshui weakens in the short term and will continue its depressed performance in the short term.
[SMM analysis] the arrival volume of Guangdong zinc ingots improved in June or continued to increase in July.
Hu [SMM Analysis] Shanghai tin rose slowly to the high point at the beginning of the year. Tin ore supply is tight and tin prices are still supported.
Weekly Review of Electrolytic Manganese (6.29Mel 7.3): weak demand at home and abroad accelerates the increase in the performance of downside manganese factory shutdowns.
The consumption of nickel in Shanghai has risen by more than 2%. It is difficult for the price of nickel to break through the resistance during the off-season.
[SMM Analysis] Indian Market orders delay the gradual transfer of Lithium Cobalt oxide demand to China
[SMM Cobalt Lithium spot Weekly report (0629Mub 0703)] it will take time for power batteries to recover their operating rate in July and transfer demand upstream.
[SMM Weekly Outlook] Steel supply is burdened, but demand rebounds in the later period and steel prices may strengthen again.
A brief comment on the hot roll market on July 3: the wind of production restriction is blowing, and the spot is restless.
[SMM current Weekly Review] inaction goes the wrong way, and steel is stained with towels.
[SMM selenium spot Weekly Review] quiet prices in selenium market remain stable (2020.6.29muri 2020.7.3)
The export volume of silicon metal hit a new low in nearly eight years in May. [SMM Analysis]
The Ministry of Finance: a 30% reduction in shale gas resource tax from April 1, 2018 to March 31, 2021
Selected SMM Weekly report
Copper prices continue to be good for the scrap copper industry, but the start-up level is still restricted by raw materials.
The trend of light, medium and heavy rare earth products slows down and purchases on demand downstream. [selected SMM Weekly report]
[selected SMM Weekly] the rainy season is coming out of the steel price rise.
SMM Weekly selected] lead ingots social inventory accumulation fundamentals are weak and lead prices are expected to fall back.
[selected SMM Weekly] overseas economic stimulus boosts macro Shanghai and zinc fundamentals are weak and are expected to fall back.
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