Stainless steel futures in China rose on the back of demand and raw material costs
According to Reuters, futures on stainless steel in Shanghai reached a six-week high on Friday, July 3, rising by 3% at one point. This was driven by stable raw material prices and optimism regarding domestic demand.
Have non-ferrous metals changed their mind about focusing on the US economy?
On Friday, July 3, the price of the three-month copper contract on the London Metal Exchange dropped by over 1.2% amid low trading volume, finishing at $6,017 per ton, with a daily high of $6,085 per ton and a low of $5,987 per ton.
IMPORT OF COPPER SCRAP IN CHINA
According to Chinese customs data, China imported 101,835 tons of copper scrap in November, 58% less than in November 2018.
SSF: Stainless steel production increased by 3.4% in 3 quarters%
According to data published by the International Stainless Steel Forum (ISSF) on Thursday, global stainless steel production in the first nine months of 2019 amounted to 39.809 million tons. The year-on-year volume growth was 3.4%.
The aluminum profile market in Russia will grow by 1.5-3 in 2019%
According to calculations by analysts from the marketing agency DISCOVERY Research Group, the volume of the aluminum profile market in Russia in 2018 amounted to 242,266.6 tons. In the first half of 2019, the market reached 123,936.4 tons. If the current trend continues, by the end of the year, the market will grow by 1.5-3% compared to 2018.
An excess in the global zinc market may be replaced by a shortage
As recently reported by the International Lead and Zinc Study Group (ILZSG), in the first half of this year, the balance on the global zinc market resulted in a surplus of 134,000 tons or 2.0% of global consumption, which grew by only 0.2% compared to the same period last year.
Is it difficult for non-ferrous metals to sort out the pile of economic reports and news?
On Tuesday, September 10, the price of three-month aluminum and copper contracts on the London Metal Exchange ignored the strong position of the dollar amid significant trading volumes.
