China’s Central Bank Makes Huge Cash Withdrawals Today

On January 29, SMM understood that as the order signing in the February polysilicon market continued, a domestic polysilicon company signed a large-quantity order for February at the end of last Friday. The actual order price rose to 72 yuan/kg. The actual contract price of polysilicon this month rose.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Jan 30, 2024

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Jan 25, 2024

Overnight, LME lead prices opened at US$2,056/ton, reaching a maximum of US$2,091.5/ton, and finally closed at US$2,083/ton, an increase of 1.21%.

LME copper prices opened at $8,471/mt and closed at $8445/mt in overnight trading, a drop of 0.07%, with the low-end of $8408/mt and the high-end of $8496.5/mt. Trading volume was 19,000 lots and the open interest stood at 267,000 lots. The most active SHFE 2401 copper contract prices opened at 68200 yuan/mt and closed at 67990 yuan/mt last evening, down 0.23%, with the high-end of 68330 yuan/mt and the low-end of 67900 yuan/mt. Trading volumes stood at 28,000 lots and open interest stood at 164,000 lots.

Prices of SMM mainstream rare earth permanent magnets

LME copper prices opened at $8215/mt and closed at $8309/mt in last Friday trading, a gain of 0.83%, with the low-end of $8183.5/mt and the high-end of $8311.5/mt. Trading volume was 17,000 lots, and open interest stood at 263,000 lots.

Although prices have fallen recently due to concerns about the slowdown in electric vehicle purchases, most overseas lithium manufacturers, including Livent, have expressed continued optimism about long-term demand.

According to market news, the civil turmoil in Myanmar is currently tense or escalating.

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