Hot News

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  Operating rates at secondary aluminium plants continued to decline in May

  Operating rates at secondary aluminium producers stood at 59.56% in May, down 5.44 percentage points month on month, but up 10.87 percentage points year on year.

• Liaoning eliminated 1.89 million mt of iron making capacity during the "13th Five-Year Plan" period

  Liaoning eliminated 6.02 million mt of crude steel capacity, 38.57 million mt of coal capacity, 1.89 million mt of coal capacity, 4.76 million mt of cement capacity, and 16,000 mt of paper making capacity during the "13th Five-Year Plan" period (2016 -2020).

• Zinc concentrate TCs rose slightly in Yunnan, domestic supply maintained a tight balance

  According to SMM survey, most smelters in Yunnan have resumed production and the raw material stocks have reached a high level with the arrivals of imported goods.

• Zinc prices to weaken amid selling of governmental stockpiling

  The National Food and Strategic Reserves Administration will release copper, aluminium, zinc and other national reserves in batches. Such action is targeted to non-ferrous metal processing and manufacturing enterprises, and public bidding should be implemented.

• SMM Morning Comments (Jun 23): Shanghai base metals mostly rose after Fed chair’s hawkish statement

  Shanghai base metals basically cruised higher in the overnight trading as Fed chair Jerome Powell made hawkish statement to appease the inflation concerns. Meanwhile, LME metals all went up.