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  High Copper Prices Weakened Purchasing Sentiment, Shanghai Spot Copper Transactions Fell to Parity [SMM Shanghai Spot Copper]

  [SMM Shanghai Spot Copper] Copper prices are expected to remain above 85,000 yuan/mt tomorrow, downstream procurement sentiment is unlikely to improve, and transactions are anticipated to continue around parity.

• September Die-Casting Zinc Alloy Imports and Exports: A Tale of Two Extremes, How Will the SHFE/LME Price Ratio Develop Next with LME Outperforming SHFE?

  According to the latest customs data, China's imports of unwrought zinc alloy in September stood at 3,792.09 mt, down 6.31% YoY, while exports reached 650.15 mt, surging 387.26% YoY. In September, China's imports of unwrought zinc alloy amounted to 3,792.09 mt, up 16.17% MoM but down 6.31% YoY. Cumulatively, from January to September, imports totaled 33,783.56 mt, a decrease of 2.64% YoY.

• Secondary Lead: Some Enterprises Show Strong Enthusiasm for Spot Order Purchases Due to Low Raw Material Inventory [SMM Lead Midday Review]

• EMM Cost and Supply Provide Dual Support, Rising Expectations Heat Up [SMM EMM Daily Review]

  On October 21, the average spot price of EMM in the main producing areas was 13,800-14,000 yuan/mt, while the average FOB export price remained at $2,050-2,100/mt. Supported by both cost and supply factors, the market price is expected to gradually strengthen.

• Silver Prices Consolidate at High Levels, Spot Premiums Remain Elevated [SMM Daily Review]