The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 13, 2022

On the macro front, since the US Fed Chairman Powell delivered a hawkish speech at the central bank meeting, other Fed officials conveyed their anti-inflation stance and determination.

For alloy, nickel plate inventory dropped significantly last week maid improving order book, but the demand weakened again amid rising premiums. To sum up, pure nickel supply tightened to some extent recently, offering support to nickel prices in the near term.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Aug 18, 2022

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Aug 9, 2022

The US Fed raised the federal funds rate by 75 basis points to 2.25-2.5% in July.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Aug 8, 2022

SHANGHAI, Aug 5 (SMM) - Following a small rebound, SHFE and LME copper fell again this week, with SHFE copper down for three consecutive days, and LME copper down for four consecutive days.

LME and SHFE base metals closed mostly with gains as the US dollar index ended its short-term rebound and closed down by 0.55% yesterday. The Bank of England raised the interest rates by 50 basis points on Thursday, the largest increase in 27 years, and at the same time warned that a long-term recession was coming.

However, the production cut wills weakened with the estimated restoring profits following the fall in the prices of chrome ore and coke. Ferrochrome plants, especially those in north China, maintained high operating rates with cost advantage.