Hot News

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  Secondary lead: Downstream inquiries show moderate enthusiasm, and restocking for immediate needs still mainly relies on purchases under long-term contracts [SMM Lead Midday Review]

• US dollar weakens, base metals generally decline, ferrous metals series mostly rise, iron ore gains over 1%, and New York gold futures week line is expected to close higher [SMM midday review]

• Silicone production continues to increase. The entry of rigid demand has limited the inventory increase during the off-season [SMM analysis]

  [SMM Analysis: Silicone Production Continues to Increase, Limited Inventory Buildup During Off-Season Due to Strong Demand] According to SMM statistics, domestic silicone DMC production in June increased by 13.75% MoM from May, and decreased by 1.60% YoY. In June, the operating load of most domestic silicone monomer enterprises increased. After continuous production cuts and shutdowns over several months, the number of silicone plants available for maintenance decreased recently. Therefore, the overall increase in operating capacity led to a rise in silicone production. Regarding subsequent operations, although some monomer enterprises in China still experienced a decline in operating load in July, the overall impact was relatively limited. It is estimated that silicone production in July will increase by 1.53% MoM from June.

• [SMM Nickel Midday Review] Nickel prices continued to rebound on July 4, as the US "Big and Beautiful" bill was passed by the House of Representatives

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