Metals: LME Outperforms SHFE, LME Nickel Rises Over 1%, SHFE Gold and Silver Extend Gains for 6 Consecutive Days, European Container Shipping Drops Over 7% [SMM Daily Review]

SMM April 15 News: Metal Market: At the close of the day, most base metals in the domestic market fell, with only SHFE copper and SHFE nickel rising, SHFE nickel up 1.05%, and SHFE copper up 0.16%. SHFE zinc and SHFE aluminum both fell, with SHFE aluminum down 0.61% and SHFE zinc down 0.65%. The declines in other metals were relatively small. The main alumina contract fell 1.87%. In addition, the main lithium carbonate contract fell 0.17%, the main polysilicon contract fell 2.79%, and the main silicon metal contract fell 2.5%. The main European container shipping contract fell 7.72%. In the overseas market, as of 15:05, LME nickel led the gains with a 1.16% increase, LME tin rose 0.69%, and the fluctuations in other metals were relatively small. In the ferrous metals series, iron ore rose 0.99%, HRC fell 0.34%, and rebar fell 0.19%. In the coking coal and coke sector, coking coal rose 0.72%, and coke rose 2.02%. In the precious metals sector, as of 15:05, COMEX gold rose 0.47%, and COMEX silver rose 0.35%. Domestically, SHFE gold rose 0.24%, marking six consecutive gains, and SHFE silver rose 0.79%, also marking six consecutive gains. As of 15:05 today, click to view the SMM market board. Macro Front: Domestic: [Preview: The State Council Information Office will hold a press conference on April 16 to introduce the national economic performance in Q1 2025] The State Council Information Office will hold a press conference at 10:00 AM on Wednesday, April 16, 2025, where Sheng Laiyun, Deputy Director of the National Bureau of Statistics, will introduce the national economic performance in Q1 2025 and answer questions from the press. All are welcome to attend. [Preview: The Ministry of Emergency Management will hold a quarterly regular press conference at 10:00 AM on April 16 to report on national work safety and natural disaster situations in Q1] The Ministry of Emergency Management will hold a quarterly regular press conference at 10:00 AM on Wednesday, April 16, to report on national work safety and natural disaster situations in Q1, interpret the "National Emergency Response Plan," introduce progress on key work safety tasks, and answer media questions. The press conference will be chaired by Shen Zhanli, Spokesperson and Director of the News and Publicity Department of the Ministry of Emergency Management, with Fan Chaohui, Director of the Rescue Coordination and Plan Management Bureau, Wang Chongxian, Director of the Comprehensive Coordination Department for Work Safety, and Liu Li, Deputy Director of the First Department of Hazardous Chemicals Safety Supervision and Management, attending and answering questions. [The central bank conducted 164.5 billion yuan in 7-day reverse repo operations today] The central bank conducted 164.5 billion yuan in 7-day reverse repo operations today, with the operation rate at 1.50%, unchanged from the previous rate. Today, 167.4 billion yuan in reverse repos and 100 billion yuan in MLF matured. On April 15, the central parity rate of the RMB in the interbank foreign exchange market was 7.2096 yuan per US dollar. US Dollar: As of 15:05, the US dollar index rose 0.16%. Federal Reserve Governor Waller stated that if the impact of tariffs (caused by US President Trump) is relatively small, the FOMC may cut interest rates later in 2025, and the impact of tariffs on inflation is expected to be temporary. Atlanta Federal Reserve President Bostic said that the uncertainty surrounding the Trump administration's tariffs and other policies has put the economy into a "great pause," with households and businesses reluctant to make large investments. He suggested that the Federal Reserve should hold off until the situation becomes clearer. Data: Today, the scale of China's MLF operations on April 15, the winning interest rate of China's MLF on April 15, the UK's February unemployment rate - ILO standard, the UK's February three-month average wage including bonuses, the Eurozone's April ZEW Economic Sentiment Index, Germany's April ZEW Economic Sentiment Index, the Eurozone's March total reserve assets, the US April New York Fed Manufacturing Index, the US April New York Fed Manufacturing Future Six-Month Expectations Index, the US March import price index annual rate, Canada's March unadjusted CPI annual rate, Canada's March central bank core CPI monthly rate, Canada's March core CPI - common annual rate, and Canada's February manufacturing sales monthly rate will be released. In addition, President Xi Jinping will pay a state visit to Malaysia and Cambodia from April 15 to 18, and the Reserve Bank of Australia will release the minutes of its April monetary policy meeting. Crude Oil: As of 15:05, oil prices in both markets rose, with US oil up 0.54% and Brent oil up 0.48%. Sentiment in the risk asset market has eased, but tariff uncertainty has limited gains. Tariff issues and geopolitical factors are jointly driving crude oil price trends. The crude oil market is digesting rapidly changing policy developments on tariffs, while progress in nuclear talks between the US and Iran is closely watched. OPEC released its April monthly report on Monday, lowering its global oil demand growth forecast for 2025 for the first time since December. Specifically, OPEC stated in its monthly report that global oil demand in 2025 will increase by 1.3 million barrels per day, 150,000 barrels per day lower than last month's forecast; the global oil demand growth forecast for 2026 was revised down to 1.28 million barrels per day, compared to the previous forecast of 1.43 million barrels per day. Compared to the downward revisions by other international energy agencies, OPEC's adjustment to demand expectations appears relatively restrained, but OPEC still emphasized the adverse impact of the US tariff war on the global economy. From a market performance perspective, crude oil investors have reached a consensus on the potential reduction in crude oil demand due to tariff policy changes. However, as concerns about economic recession and oil demand shocks caused by tariff issues gradually manifest in the futures market, coupled with the return of geopolitical risks between the US and Iran to the spotlight, oil prices have recently rebounded from low levels. SMM Daily Review: Aluminum prices are in the doldrums, secondary aluminum prices are stable with a downward trend [ADC12 Price Daily Review]. April 15: SHFE aluminum's center of gravity shifted downward, aluminum billet processing fees ranged [Aluminum Billet Spot Daily Review]. [SMM Nickel Sulphate Daily Review] April 15: Nickel sulphate prices slightly declined. [SMM MHP Daily Review] April 15: Indonesian MHP prices rebounded. Silver prices continue to strengthen, spot market premiums and discounts vary widely [SMM Daily Review].