The dollar rose to a one-week high on Tuesday following a jump in benchmark U.S. Treasury yields, while the yen steadied after initially sliding as the Bank of Japan said it would stick to its ultra-loose monetary policy.
Shanghai nonferrous metals closed mixed today as the market sentiment was relatively stable recently loosening monetary policy in China and sustained downside risks faced by the domestic economy.
DEC swings down in the morning , but afternoon bounce, the main contract closed 715.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on January 18, 2022
On the supply side, domestic cobalt sulphate was in supply deficit in December, which stood at 13 mt in metal content in the month. The supply is expected to return to surplus in January with an amount of 163 mt in metal content.
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.