Hot News

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  Lead-Zinc Mines Resume Production, Boosting Lead Concentrate Supply and Market Activity in March-April

• [SMM Nickel Sulphate Daily Review] March 11, Raw Material Uncertainty Persisted, and Nickel Salt Prices Remained Stable

  On March 11, the SMM average price of battery-grade nickel sulphate rose slightly.

• Platinum Prices Held Up Well Intraday, Spot Transactions Were Moderate [SMM Daily Review]

• Delivery Logic Dominated the Market, Coupled With a Widening Price Spread Between Futures Contracts; Shanghai Spot Copper Maintained a Premium [SMM Shanghai Spot Copper]

  [SMM Shanghai Spot Copper] The widening contango price spread between futures contracts for nearby months continued to strengthen suppliers’ willingness to ship to delivery warehouses, further tightening the availability of freely tradable spot copper and providing solid support for spot premiums. Against this backdrop, suppliers showed strong sentiment to hold prices firm during the day, with offers remaining firm. Demand side, downstream buyers maintained just-in-time procurement, providing some support for prices; supply side, although social inventory remained at a high level, more than half of the cargoes had already been converted into warrants, and spot circulation stayed tight. Shanghai added 1,759 mt of warrants yesterday, further intensifying the tightness in freely tradable cargo availability. Overall, under the dominance of delivery logic, Shanghai spot copper premiums are expected to remain in premium territory tomorrow.

• Silver Prices Consolidated, Spot Market Premiums Softened [SMM Daily Review]