Steel Scrap Prices to Grow

In the first ten months of 2022, the output of refined nickel totalled 2.37 million mt, while the demand for it stood at 2.49 million mt.

The most-traded SHFE 2302 zinc contract fluctuated at 23,400 yuan/mt and fell to 23,230 yuan/mt after opening at 23,420 yuan/mt.

As of December 15, SMM Ni 8-12% high-grade NPI was 1,355 yuan/mtu (ex-factory, tax included), down 5 yuan/mt from the previous trading day.

On the macro front, a survey released on Monday showed that despite the energy crisis and high inflation, the economic outlook for Germany, Europe's largest economy, has improved, with German business confidence rising more than expected in December to support the euro and put some pressure on the safe-haven dollar.

The prices of #6517 silicon-manganese were 7,250-7,300 yuan/mt in north China markets in cash, flat from the previous trading day, and those in south China markets moved between 7,350-7,400 yuan/mt, up 50 yuan/mt.

As of December 19, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 58,900 mt, up 300 mt from December 16 and 8,100 mt from December 12.

SHANGHAI, Dec 19 (SMM) - The domestic alumina prices rose slightly last week amid positive fundamentals.

SHANGHAI, Dec 16 (SMM) - Since China loosened its pandemic controls in early December, a growing number of people have been infected with COVID-19.

As of December 15, SMM Ni 8-12% high-grade NPI was 1,350 yuan/mtu (ex-factory, tax included), flat from the previous trading day.

The sluggish domestic demand was responsible for the continuous decline in magnesium ingot prices, and most factories quoted based on actual orders.