NMC Material Prices Dip 5% MoM in Feb, and to Fall Further in Mar

During the day, SMM 1# lead prices continued to fall, the discounts of smelters remained unchanged compared with yesterday.

SHANGHAI, May 11 (SMM) - Premiums of imported copper under warrants in Shanghai bonded zone were $55-85/mt today, with the average premiums up $5/mt from yesterday to $70/mt, while premiums of cargoes under bill of lading were $45-70/mt, with the average premiums up $2.5/mt to $57.5/mt, with QP in June.

SHANGHAI, May 10 (SMM) – The most-traded SHFE zinc contract crashed below 26,000 yuan/mt to 25,355 yuan/mt last night, its lowest since March 22.

According to the SMM survey, at present, the supply tightness of copper cathode in east China has been greatly alleviated.

On May 6, a large mine in Heilongjiang province, which has been "silent for a long time", suddenly offered concentrate available for sale, and its 50-55% molybdenum concentrate was as low as 2,780-2,800 yuan/mtu, 40-60 yuan/mtu lower than the current market price.

SHANGHAI, May 6 (SMM) - SMM survey found that the spot lead market was relatively calm, despite the sharp spike in SHFE lead prices.

LME base metals closed mostly with gains as the US Fed Chair Powell suggested that a 75 basis point rate hike is not an “active choice” in the future, which pulled down the US Dollar index which had paid off in previous sessions.

Pilbara's first auction results in 2022 came out with a price of $5,650/mt.

SHANGHAI, Apr 26 (SMM) - SMM data showed that a total of 81 ships arrived at major ports in China during April 18-24, carrying 12.25 million mt of iron ore, down 250,000 mt on a weekly basis and up 36,000 mt from a year ago.

SHFE nickel prices kept dropping today. As of around 14: 52, the prices were 219,850 yuan/mt, down 7.97%.