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MMi Daily Iron Ore Report (August 8th)
DCE iron ore was was shocked and keep downward all the day.The main contract closed at 737.5,,increased of 4.31%. Traders are generally motivated to ship, Speculative demand increases.
Shanghai nonferrous metals closed mixed in day trading. The Labor Department data showed that the seasonally-adjusted non-farm payrolls rose by 528,000 in July, well above the market's previous expectation of an increase of 250,000, and the fears over economic recession subsided. But it aroused the expectations of rate hikes in the future.
Copper Inventory across Major Chinese Markets Added 3,900 mt over Weekend
As of Monday August 8, SMM copper inventory across major Chinese markets increased by 3,900 mt from last Friday to 72,800 mt.
Zinc Ingot Inventories across Seven Major Markets in China Increased 2,200 mt from last Friday
According to SMM data, the zinc ingot inventories across seven major markets in China totalled 136,600 mt as of August 8, up 2,200 mt from last Friday and down 1,700 mt from last Monday.
China Customs: China Foreign Trade Surplus at 682.69 Billion Yuan in July
The General Administration of Customs announced on August 7 that in the first seven months of this year, the total value of China's foreign trade imports and exports was 23.6 trillion yuan, a year-on-year increase of 10.4%.
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.
