Hot News

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  [SMM Nickel Midday Review] On March 20, Nickel Prices Rebounded After an Oversell, and the Central Bank Will Continue to Implement a Moderately Accommodative Monetary Policy

• Wait-and-See Sentiment Among Downstream Buyers Increased, and Spot Premiums Pulled Back [SMM North China Spot Copper]

  Spot #1 copper cathode in North China was quoted at discounts of 60 yuan/mt to parity against the front-month contract today. The average premium/discount fell by 30 yuan/mt from the previous trading day, and the average transaction price rose by 195 yuan/mt from the previous trading day to 95,840 yuan/mt.

• Copper Prices Stop Falling and Rebound, Downstream Restocking Demand Is Weaker Than Yesterday; Spot Premiums Retreat After Rapid Rise [SMM South China Spot Copper]

• Operating Rates of Brass Billet Producers Continued to Rebound, While Pulling-Back Copper Prices Disrupted New Orders [SMM Brass Billet Market Weekly Review]

• Construction Steel Inventory Growth Slows, Destocking Phase Expected Next Week

  This week, total rebar inventory stood at 8.3525 million mt, up 57,800 mt WoW, or 0.7% (previously +3.46%). Compared with the same period of the lunar calendar last year, it increased by 281,200 mt, or 3.48% (previously +4.58%).