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  Data: SHFE, DCE market movement (Nov 21)

  The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 21, 2024

• Stainless Steel Market Transactions Lower-than-Expected, High-Grade NPI Under Pressure [NPI Daily Review]

  SMM reports that the average price of 8-12% high-grade NPI is 979.5 yuan/mtu (ex-factory, tax included), down 3 yuan/mtu from the previous working day.

• [SMM Analysis] Domestic Tin Ore Imports Surged in October, Unlikely to Maintain Current Levels in the Future

  In October, domestic tin ore imports reached 15,000 mt (equivalent to approximately 5,044 mt metal content), up 90.73% MoM, down 40.65% YoY, and increased by 1,185 mt metal content compared to September.

• Frequent Smog-Related Production Restrictions Lead to Nearly 20,000 mt Weekly Decline in Lead Ingot Social Inventory [SMM Survey]

  According to an SMM survey, as of November 21, the total social inventory of lead ingots in five regions tracked by SMM stood at 64,400 mt, a decrease of 19,900 mt compared to November 14, and a decrease of 20,600 mt compared to November 18.

• October refined lead imports fell by 93.59% MoM. What is the outlook for November? [SMM Analysis]

  According to customs data, in October 2024, refined lead exports were 1,886 mt, up 110.83% MoM but down 90.63% YoY.