[SMM Lead Morning Comments] LME and SHFE zinc Prices Weakened amid Stock Accumulation at Home and Abroad

Yesterday, low-sulfur coking coal in Lvliang, Shanxi was quoted at 2,100 yuan/mt, while the quotation was 2,400 yuan/mt in Linfen and 2,100 yuan/mt in Tangshan.

This week, the prevailing price for domestic M10-182mm monocrystalline silicon wafers was 3.08- 3.10 yuan/piece, and for 210mm monocrystalline silicon wafers, it was 4.08-4.10 yuan/piece.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 26, 2023

LME lead prices opened at $2,205/mt overnight with the low-end of $2,163/mt. LME lead finally closed at $2184.5/mt, down 1.09%.

#0 zinc in Guangdong was traded at 21815~21900 yuan/mt today.

In Tianjin, #0 zinc ingot was mostly traded at 22100~22340 yuan/mt, Zijin zinc 22180~22380 yuan/mt, and Huludao zinc 26820 yuan/mt.

Currently, the domestic prices for photovoltaic glass are increasing.

HRC futures fluctuated and closed at 3,870 yuan/mt today, an increase of 0.39%.

In July 2023, the world alumina production saw a month-on-month rise of 4.32 per cent to reach 12.179 million tonnes, found the International Aluminium Institute (IAI).

LME zinc prices closed down $29.5/mt or 1.19% at $2,450/mt yesterday evening. The trading volume increased to 7,690 lots, and open interest increased 407 lots to 206,000 lots.  LME zinc inventory shed by 2750 mt to 91575 mt. Overnight, the US CPI data recorded 3.2%, which was lower than the expected 3.3%.