Coke Prices Remain Bullish

DCE iron ore futures declined by 1.39% today, the main contract closed 675.5. The traders' willingness to ship is general .The steel mills are purchase on demand.

DCE iron ore futures declined by 4.11% today, the main contract closed 606.5. The traders' willingness to ship is less. The steel mills are purchase on demand.

DCE iron ore futures rose by 2.21% today, the main contract closed 739.5.More transactions in the market.PBF at Shandong port dealt 763-768 yuan/mt, increase 3-13yuan/mt;

SHANGHAI, Sep 30 (SMM) - According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders.

The finalised composite PMI for the alloy sector stood at 50.02% in September, staying in the expansion range.

Hence market transactions have been quite active recently, fuelling lithium carbonate prices. However, the top-tier downstream manufacturers have higher bargaining power in the spot market, and there is still certain room for gaming.

Shanghai nonferrous metals closed mostly with losses as the US dollar index was still high amid hawkish US Fed stances that the US needs to keep interest rates higher for a while until the inflation is kept under control.

In terms of fundamentals, the supply of domestic copper cathode has shown signs of growth. In the short term, with the cooling weather in China, the smelters affected by the power restriction policy in east and central China have improved their production to varying degrees.

According to some reports, on August 24th, Camel Group Co., Ltd. (601311. SH) said at the semi-annual performance briefing in 2022 that the company planned to invest in a recycling project of 100,000 mt of used lithium batteries.

It still remains to be seen whether the downstream demand for steel will reach its peak. But the current profits of steel mills are acceptable, which boosts the enthusiasm of steel mills to produce and also their demand for iron ore.