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![ADC12 Prices Expected to Rise in March [SMM Analysis]](https://imgqn.smm.cn/production/admin/votes/imageskkgTu20240508153005.png)
ADC12 Prices Expected to Rise in March [SMM Analysis]
[SMM Analysis]Macro Factors Drove, and Supply and Demand Gradually Recovered,ADC12 Prices Were Expected to Rise in March
[SMM Daily Review: End-Use Consumption Recovery Remained Limited, High-Grade Supply Scarcity Was Significant] News on March 6: The upstream sentiment factor for SMM high-grade NPI was 2.88, up 0.01 MoM, and the downstream sentiment factor for high-grade NPI was 1.37, up 0.05 MoM.
[SMM Shanghai Spot Copper] Looking ahead to next week, spot discounts for Shanghai spot copper are expected to continue a steady recovery. From the market structure perspective, the price spread between futures contracts for the next-month C contract remained around 300 yuan/mt, prompting suppliers to hold prices firm and withhold sales. Meanwhile, the downward shift in the center of copper prices effectively stimulated downstream purchase willingness, driving a notable rise in spot premiums. Supply side, domestic copper and previously price-locked imported cargo continued to arrive, and with social inventory at elevated levels, overall circulating supply in the market remained ample. Under the combined effects of suppliers holding prices firm and downstream buying the dip, the momentum for the recovery in spot discounts is expected to continue.
[SMM Tin Midday Review: The Center of the Most-Traded SHFE Tin Contract Moved Higher; Only a Small Volume of Rigid-Demand Transactions Were Concluded in the Spot Market This Morning]
