SHFE nonferrous metals broadly fell on Wednesday December 2 after major indexes on Wall Street surged to record highs overnight.
DCE iron ore futures market hit another new high of 934.5 today and the price hike in the physical port stock market expanded to 10-15yuan/mt. PBF was concluded at 898-907yuan/mt in Shandong market and that in Tangshan market ascended to 905yuan/mt, up by 5-25yuan/mt over yesterday.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on December 2, 2020
As the US presidential election has finally settled, market participants expect larger fiscal stimulus measures from the Biden administration and a solid economic recovery from the coronavirus pandemic amid a slew of positive virus vaccine news.
China’s lithium carbonate imports and the average import price both increased in October, customs data showed.
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.