A Warm Welcome to Shairaz Ahmed

Thailand is the largest automotive manufacturing hub in Southeast Asia, with world-renowned automotive companies establishing manufacturing plants there, and the automotive industry contributing 12% to GDP. The automotive parts industry is well-developed, with over 60% of the world's top 100 automotive parts suppliers having production hubs there. Additionally, with the support of the Thai government's policies, the home appliance and electronics industries have also experienced rapid development, with continuous growth in aluminum consumption. Despite lacking aluminum resources, Thailand continues to rely on imports for primary aluminum. Against this backdrop, SMM has introduced CIF Thailand aluminum ingot quotes for market reference and settlement.

This week, the SMM survey covered the production and sales conditions of major domestic medium and large copper rod makers. The overall operating rate was 80.92%, up 6.03 percentage points MoM, exceeding the expected value by 1.11 percentage points, and up 11.59 percentage points YoY. (Surveyed enterprises: 21, capacity: 7.83 million mt). The specific situation is as follows...

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Copper prices opened lower last week. In contrast, the traded prices of copper scrap were high due to tight supply and stockpiling by processing companies after the Mid-Autumn Festival holidays.

SHFE nonferrous metals broadly rose for the most part on Wednesday June 23 with investors awaiting key Purchasing Managers' Indexes from the euro zone.

SHFE nonferrous metals broadly closed higher across the board on Tuesday June 22, triggered by the Fed's updated inflation projections and a shortening of its interest rate hike schedule.

SHFE nonferrous metals broadly fell on Monday June 21, following jitters in global markets over the more hawkish tone from the US Federal Reserve last week.

LME base metals closed mixed in the overnight trading last Friday, as the expanding inflation and rising US dollar weighed on the market, but short supply still supported the prices. SHFE metals basically went down.

LME and SHFE non ferrous metals all declined in yesterday’s overnight trading as Fed officials implied to raise interest rates in advance and increased the excess reserve ratio.

LME base metals all fell in the overnight trading yesterday, as US dollar index went up slightly, and the plummeting US May retail sales brought negative sentiments to the market. Meanwhile, SHFE metals closed mixed amid the policy control.