China’s copper cathode output fell less than expected in June as a smelter delayed maintenance and as some smelters ramped up production after blister copper supply tightness eased.
SHFE nonferrous metals, except for tin, closed higher across the board on Thursday July 9, as the market prospects for economic recovery were upbeat following the release of Chinese inflation data.
China’s sales of new energy passenger cars increased 25% month on month to 83,000 units in June, according to data from the China Passenger Car Association (CPCA) released on Thursday.
Although DCE iron ore futures market inched down, there were still price hike amid major stability in the physical port stock market. PBF was traded at 800-805yuan/mt in Shandong market and 815yuan/mt in Tangshan market, mills on-demands procurements failed to push up the prices further.
Primary aluminium ingot inventories in China extended a downward trend this week, and the days in inventory across social warehouses continued to reduce from the previous week, showed SMM data.
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