Hot News

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  [SMM blast furnace operating rate] Maintenance gradually increases, pig iron production still slightly declines

• Supply tight in east China, suppliers holding firm to premiums [SMM Spot Aluminum Midday Review]

  [SMM Midday Spot Aluminum Review: Tight Supply in East China, Suppliers Maintain High Premiums] The center of SHFE aluminum prices continued to break through upwards in the morning session today, rising above the narrow fluctuation range near 20,300 yuan/mt. Supply in east China was tight, and suppliers took the opportunity to maintain high premiums. The main reasons are as follows: 1) In-transit cargoes are expected to be limited; 2) The spot market is in a state of ultra-low inventory; 3) Major players are purchasing at high premiums in the market. The market traded at a premium of 20-30 yuan/mt against the SMM average price. Today, SMM A00 aluminum was quoted at 20,400 yuan/mt, up 240 yuan/mt from the previous trading day, with a premium of 90 yuan/mt against the June contract, up 20 yuan/mt from the previous trading day.

• Galvanizing Operations Weakened in May, Will They Continue to Decline in June?[SMM Analysis]

  May marks the tail end of the peak season, with downstream consumption gradually weakening and operating rates in north, east, and south China experiencing varying degrees of decline. How will the operating rate trend in June?

• BYD, Xiaomi, Great Wall Motors, and several other automakers have jointly made a commitment that payment terms will not exceed 60 days.

• Suppliers are unwilling to sell below parity, with the center of SHFE copper premium moving higher during the day [SMM Shanghai spot copper]

  [Shanghai spot copper] Looking ahead to tomorrow, the supply of standard-quality copper in the latter half of the week is not expected to ease. Currently, with copper prices at a high level, downstream buyers are generally driving down purchasing prices. However, as the delivery date approaches, suppliers are reluctant to sell below parity. It is reported that there will be concentrated arrivals of some Russian copper at the end of the week, and downstream buyers are expected to be willing to purchase at lower prices.