107 Silicone Rubber Demand to Get Boost

SHANGHAI, Mar 8 (SMM) - The most-traded SHFE 2304 aluminium contract opened at 18,530 yuan/mt overnight before closing at 18,475 yuan/mt, down 195 yuan/mt or 0.89%.

Overnight, LME lead opened at $2,111/mt, and plummeted to the lowest point at $2,072.mt due to the unexpected hawkish remark from Powell, and finally closed at $2,086.5/mt, a decrease of 0.9%.

SHANGHAI, Mar 7 (SMM) - In February, the capacity utilisation rates of mines in Hebei showed an upward trend.

As far as the global lithium market is concerned, the increase in the world's known reserves could further depress the price of the metal, which of course ultimately depends on Iran's ability to produce and export lithium, which, unlike other minerals, is expensive and difficult to extract.

According to SMM research, a cold-rolled coil factory in south China started a one-week production suspension for maintenance today.

Henan Province Pollution Reduction and Carbon Reduction Synergistic Efficiency Action Plan was issued, proposing to support key industries such as steel, coking, and cement through capacity replacement,

The average operating rate of Chinese magnesium ingot producers in January 2023 was 55.04%, down 2.82% on the month and 22.18% on the year.

DCE iron ore futures market falling trends,and start to rebounded in the afternoon. the main contract closed 853.5 by 0.89%. some traders were negative to sell, Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high.

There will not be solid macro data this week. The one-year inflation expectations in the United States and the annualised CPI in China in January are due this week. The public speeches of Federal Reserve Chairman Powell and voting commission after the interest rate meeting will be the focus of markets.

On the evening of January 31, LB Group announced that from February 1, 2023, all specifications of titanium dioxide of the company (including sulphuric acid process titanium dioxide, titanium dioxide by chlorination method) would be raised by 1,000 yuan/mt for various domestic customers and $150/mt for international customers from the original prices.