China Iron Ore Prices to Have Upside Room This Week

The market worried that power rationing in Yunnan might cast some impact on zinc smelters.

Silicon metal prices fell slightly this week. As of April 13, the prices of above-standard #553 silicon metal in east China lost 250 yuan/mt from a week earlier to 15,500-15,700 yuan/mt

Some imported copper flowed into the Shanghai market last week, and it is expected that the customs clearance of imported copper will further increase this week.

The spot prices in Shanghai were stable last week.

SHANGHAI, Mar 27 (SMM) – Price review: The SMM weighted alumina index stood at 2,936 yuan/mt as of last Friday, flat from a week ago.

In China's domestic spot market, sellers will be keen to liquidate stocks at the end of the month and the quarter, weighing on spot quotes.

LME copper prices closed at $8,827/mt overnight, a decline of 1.13%. Trading volume was 19,000 lots and open interest stood at 246,000 lots. The most active SHFE 2304 copper contract finished at 68,570 yuan/mt overnight, up 0.44%.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on February 13, 2023

On February 7, Keheng Co., Ltd. announced that it agreed Zhuhai Gree Financial Investment Management Co., Ltd. to acquire all the shares issued by Keheng Co., Ltd. to specific targets at an average price of no more than 9.27 yuan per share and a total investment of no more than 600 million yuan.

SHANGHAI, Feb 8 (SMM) – SMM ADC 12 secondary aluminium alloy was offered between 19,650-19,850 yuan/mt today January 8, with the average price at 19,750 yuan/mt, flat from yesterday.