[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.
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.
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]