DCE iron ore futures market headed for upward trends and the prices in the physical port stock market were adjusted up successively.
SHFE nonferrous metals broadly fell on Wednesday August 12 as negotiations of coronavirus relief package were in a stalemate and China’s social financing scale for July missed expectations.
Social inventories of long steel (including wire rods and rebar) in Guangzhou decreased 0.56%, or 7,400 mt, in the week ended August 12 to 1.31 million mt, showed SMM data. The stocks were 50.75% higher than the same period last year.
Planned output of construction steel rebar across China’s major blast furnace steelmakers is estimated to fall 3.32% from the realised production in July to 8.88 million mt in August, showed an SMM survey.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on August 12, 2020
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