SMM Morning Comments (Jun 1): Base metals rose broadly as China’s factory activity expanded in May
LME nonferrous metals ticked higher across the board on Monday morning, while their counterparts on the SHFE rose for the most part as official data release over the weekend showed China’s factory activity expanded in May.
US President Donald Trump said during a much-awaited news conference Friday that he would take action to eliminate special treatment towards Hong Kong. However, he did not indicate the US would pull out of the phase one trade agreement reached with China earlier this year, easing trader concerns for the time being and helping the S&P 500 erase earlier losses to end the day slightly higher.
In this 2-week webinar special, we will have a deep-dive on the China domestic metals market following the National People’s Congress (NPC) annual meetings.
SMM is delighted to have Mr. Dongshu Cui, Secretary General of China Passenger Car Association for a special presentation at the 5th China International LiCoNi Summit on July 13-14, in Ningbo, China.
MMi Daily Iron Ore Report (May 29)
SMM data showed that iron ore stocks across 35 Chinese ports totalled 99.39 million mt as of May 29, the lowest in nearly thr ee years, down 1.07 million mt from a week ago and 15.46 million mt lower than a year ago.
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.
