Traders Raised Their Quotes Due To the Lack of Zinc Arrivals in Ningbo Market

The premiums in Guangdong fluctuated around 200 yuan/mt last week due to falling inventories. As of last Friday, the spot premiums for high-quality copper dipped 20 yuan/mt from a week ago to 210 yuan/mt, and the premiums for standard-quality copper stood at 200 yuan/mt, flat from a week ago. Hydro-copper was quoted with premiums of 140 yuan/mt, a decline of 10 yuan/mt from a week ago.

Rebar futures fell 0.58% today to 3,588 yuan/mt.

HRC futures closed down by 0.9% at 3,651 yuan/mt today.

Shanghai nonferrous metals closed mostly with losses in day trading.

SHFE 2306 lead opened at 15,310 yuan/mt and hovered around 15,290 yuan/mt.

SHFE nickel surged in the early trading yesterday affected by the overseas nickel futures prices.

Spot #304 stainless steel prices fell about 350 yuan/mt last week.

On April 28, the average price of Ni 1.5% ore added $1/wmt from the previous Friday to $51/wmt on a CIF basis.

Nickel prices ran with some declines last week, and the price move was greatly affected by the macro data and news factors.

Some imported pure nickel flowed into the Chinese spot market for delivery of long-term contracts in May, easing the supply tightness in China.