PrNd Product Prices Stabilised Last Week

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Jun 6, 2023

Copper rebounded slightly as the US dollar fell due to slowing services data. LME copper prices closed at $8,328.5/mt overnight, a rise of 0.98%. Trading volumes were 18,000 lots and open interest stood at 250,000 lots. The most active SHFE 2307 copper contract finished at 66,640 yuan/mt overnight, up 0.89%. Trading volume was 57,000 lots and open interest stood at 186,000 lots.

SHANGHAI, Jun 6 (SMM) – Primary aluminium alloy: The PMI for the sector rose 3.8 points MoM to 44 in May.

SHANGHAI, Jun 6 (SMM) – The prices of cobalt intermediate products rose slightly last week.

SHANGHAI, Jun 6 (SMM) –Nickel sulphate prices rebounded last week after several months of decline.

SHANGHAI, Jun 6 (SMM) –The prices of ternary cathode precursor rose slightly last week.

#0 zinc in Ningbo was quoted with premiums of 140-220 yuan/mt over SHFE 2306 zinc contract last week, and were -10-40 yuan/mt against Shanghai prices. Spot quotes against SHFE zinc prices and premiums over Shanghai prices both fell rapidly. The rise in zinc prices and the influx of imported zinc led to a continuous decline in the downstream enthusiasm for purchasing domestic zinc ingots.

Spot #0 zinc was quoted with premiums of 325-380 yuan/mt over SHFE 2307 zinc contract, and discounts in Guangdong stood at 50-100 yuan/mt against Shanghai prices. In the first half of the week, the arrivals of ordinary brands were poor, and spot goods in the hands of the sellers were limited.

The average operating rate of die-casting zinc alloy manufacturers was 47.52% last week, up 0.52 percentage point from 48.04% in the previous week. In terms of raw material inventory, since enterprises still took deliveries one after another during the week, the raw material inventory of die-casting zinc alloy enterprises basically remained flat despite the rebound in zinc prices.

Prices of mainstream rare earth oxides such as PrNd oxide and gadolinium oxide continued to be stable with signs of falling, and the prices of middle and heavy rare earths such as dysprosium and terbium decreased slightly.