Nickel Prices Remain Weak Amid Loose Expectations, Nickel Salt Prices Continue to Decline
[SMM Tin Midday Review: DRC Supply Risk Premium Accelerates Release, SHFE Tin Breaks Through 300,000 Yuan Mark with Strong Momentum]
Copper Prices Suppress Demand, Spot Premiums/Discounts Weaken [SMM North China Spot Copper]
Spot prices of #1 copper cathode against the front-month contract in North China today were at a discount of 230-170 yuan/mt, with an average discount of 200 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 86,670 to 86,890 yuan/mt, with an average of 86,780 yuan/mt, up 385 yuan/mt from the previous trading day.
SMM Morning Meeting Minutes: LME copper opened at $10,992.5/mt overnight, initially touched a high of $11,009.5/mt, then copper prices fluctuated downward with the center touching a low of $10,912/mt, and finally closed at $10,953/mt, up 1.11%, with trading volume reaching 22,000 lots and open interest reaching 327,000 lots. The most-traded SHFE copper contract 2601 opened at 87,200 yuan/mt overnight, initially touched a high of 87,300 yuan/mt, then fluctuated downward touching a low of 86,820 yuan/mt, and finally closed at 87,090 yuan/mt, up 0.46%, with trading volume reaching 54,000 lots and open interest reaching 206,000 lots.