SHANGHAI, May 17 (SMM) - The most-traded SHFE 2306 aluminium contract opened at 18,115 yuan/mt overnight, with its low and high at 18,085 yuan/mt and 18,280 yuan/mt before closing at 18,230 yuan/mt, up 115 yuan/mt or 0.63%.

With the recovery of large-scale secondary lead smelters after maintenance and the production ramp-up of new capacity, the overall supply will increase in May.

Inventories of Lead Ingots at Domestic Primary Lead Smelters Grew In April and Will Accumulate Further in May

Shanghai nonferrous metals closed mostly with losses in day trading.

SHANGHAI, May 16 (SMM) - In April 2023, the monthly average price of Ni1.5% medium-grade laterite nickel ore was $52/wmt CIF, down from March.

SHANGHAI, May 16 (SMM) - With the passing of peak season, new orders from downstream enterprises have begun to dwindle.

SHANGHAI, May 16 (SMM) - Aluminium prices rose initially and then pulled back in the period of April 9-May 9, with the monthly average up 267 yuan/mt MoM to 18,665 yuan/mt.

Spot quotes in north China inched higher before rallying last week. Spot copper was quoted with discounts of 230-50 yuan/mt, or an average discount of 140 yuan/mt last Friday, flat from two Fridays ago.

SMM reported that #1 copper cathode traded with premiums of 50-90 yuan/mt against SHFE 2305 copper contract on May 5, and with premiums of 0-80 yuan/mt over the contract on May 12 Spot premiums fell initially and then rose last week, affected mainly by SHFE copper prices and the price spread between the SHFE front-month and next-month contracts.

The dysprosium oxide prices ballooned.