Shanghai nonferrous metals closed mixed today as the market sentiment was relatively stable recently loosening monetary policy in China and sustained downside risks faced by the domestic economy.
DEC swings down in the morning , but afternoon bounce, the main contract closed 715.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on January 18, 2022
On the supply side, domestic cobalt sulphate was in supply deficit in December, which stood at 13 mt in metal content in the month. The supply is expected to return to surplus in January with an amount of 163 mt in metal content.
According to foreign media, Indonesia's Deputy Minister of Maritime and Investment Affairs, Septian Hario Seto, said that the government may start imposing export duties on NPI in 2022.
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