MMi Daily Iron Ore Report (Feb 17)
Traders started to hold their quotes firm in the afternoon as the DCE iron ore futures rose. Transaction prices for PBF in Tangshan market were up by around 5-10yuan/mt over the morning session.
China silicon exports jumped 14% in December
China’s exports of silicon metal expanded 14.1% from November to 60,800 mt in December, as exporters expedited the delivery of orders ahead of the Lunar New Year holiday
SMM Evening Comments (Feb 17): Shanghai base metals closed mostly higher on Chinese support measures
Copper added close to 1% to its highest since the market reopened after the Lunar New Year holiday. Lead and tin climbed 0.7%, and zinc rose 0.4%. Aluminium and nickel shed about 0.3%
Update: China January NEV production dropped 52.3% from a year ago
China’s production of new energy vehicles dropped in the first month of 2020, as producers shut or trimmed output due to the Lunar New Year holiday and continued market weakness
SMM expects pent-up demand from major consumers and low inventories at upstream producers to support the optimistic sentiment about cobalt salts prices.
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.
