Shanghai nonferrous metals closed the day with gains amid a positive macro front as the market worries over omicron COVID variant weakened after statistics showed that it is likely to be milder than Delta variant.
DCE iron ore futures tight by 1.46%. the main contract closed 658.5.
China’s copper cathode output stood at 825,900 mt in November, up 4.6% month on month and 0.5% year on year
LME copper is expected to move between $9,350-9,680/mt while the most-traded SHFE copper contract is estimated to stand at 68,500-70,500 yuan/mt.
The refined zinc output in China has been far less than expected in 2021. What caused the decline in domestic output?
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