SMM offices will close from Saturday April 4 to Monday April 6 for the Qingming Festival.
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SHFE nonferrous metals rose across the board on Friday, as market sentiment was rallied after China’s Ministry of Finance pledged to make an early allocation of the special-purpose bond quotas for transportation infrastructure construction.
SMM data showed that iron ore stocks across 35 Chinese ports totalled 106.86 million mt as of April 3, down 910,000 mt from a week ago and 30.44 million mt lower than a year ago. Arrivals at major ports have been declining for two consecutive weeks, accounting for lower stocks.
Social inventories of lead ingots in China continued to trend downsides this week, but the decline slowed down from a week ago due to rising supplies of secondary lead.
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.