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MMi Daily Iron Ore Report (August 11th)
DCE iron ore was shocked sharply all the day. The main contract closed at 741,increased of 2.28 %. Traders are more motivated to ship.
Shanghai nonferrous metals closed mostly with gains as the US CPI rose 8.5% year-on-year, which is lower than expected, with a reading of 9.1% in June. Slowing US inflation has boosted the confidence of longs, hence non-ferrous metals posted gains across the board.
The Output Growth of Power Batteries Remained High in June and Would Reach 45 Gwh in July
SHANGHAI, Aug 11 (SMM) - Power battery output totalled 41.3 GWh in June, up 171% on the year and 16% on the month.
Nickel Sulphate Prices Bottomed Out as Supply-Demand Balance Narrowed Further
SHANGHAI, Aug 11 (SMM) - Nickel sulphate supply deficit stood at 1,120 mt in Ni content in July.
Cobalt Salts Still in Supply Surplus in August, and Prices May Decline Slightly
SHANGHAI, Aug 11 (SMM) - Domestic cobalt sulphate market again saw a supply surplus of 416 mt in metal content in July.
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.
