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China’s domestic lead prices trended up over October 8-13, according to the latest survey from Mymetal, Mysteel’s nonferrous metals data collection arm. Market sources attributed the increases to the improved sentiment, buoyed by the growth in lead futures prices and tightened supply.
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China’s domestic lead prices declined over September 17-24, in line with the fall in lead futures prices on the Shanghai Futures Exchange (SHFE), according to the latest survey from Mymetal, Mysteel’s nonferrous metals data collection arm.
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The power-supply crisis affecting much of China currently, and the government’s remedy of enforcing large-scale power restrictions in many provinces, is impacting the supply and demand of primary aluminum, market sources remarked on Wednesday.
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Copper prices in China’s physical market eased over September 17-24, according to the weekly report from Mymetal, Mysteel’s nonferrous metals market research arm. The decline in prices encouraged end-users to take some tonnage, market sources remarked.
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Domestic aluminum prices across China continued to hover at high levels over the September 16-22 week, with the national price of 99.7% primary aluminum ingot under Mymetal’s assessment recovering to Yuan 22,774/tonne ($3,521/t) by September 22 after falling from the previous multi-year high to as low as Yuan 22,190/tonne on September 15. The price finally rallied by Yuan 584/t on week. Mymetal is Mysteel’s nonferrous market intelligence arm.
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China’s domestic aluminum prices fluctuated at high levels over the September 9-15 week, with the national price of 99.7% primary aluminum ingot under Mymetal’s assessment reaching a record Yuan 23,342/tonne ($3,629/t) including 13% VAT on September 13 – the highest since Mymetal launched the assessment in April 2007.
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Copper prices in China’s physical market tracked in a V-curve over September 6-10, according to the weekly report from Mymetal, Mysteel’s nonferrous metals market research arm.
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Domestic lead prices in China continued to trend down for the second week over September 1-8, according to Mymetal, Mysteel’s non-ferrous market intelligence unit, with the overall market sentiment being dampened further by declining lead futures prices and the still-weak demand from buyers, market sources remarked.
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China’s national price of 99.7% primary aluminum ingot under Mymetal’s assessment soared further to Yuan 21,668/tonne ($3,351/t) including 13% VAT as of September 7, refreshing the new high since the launch of the assessment in April 2007. Mymetal is Mysteel’s nonferrous market intelligence arm. The jump was propelled by continuing market concerns regarding supply, even though domestic demand for the light metal remains dull.
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China’s national price of zinc ingot (at least 99.995%) has recovered this week after the continuous declines witnessed during last week. Over September 6-8, the price had hovered in the range of Yuan 22,878-23,060/tonne ($3,541-3,569/t) including the 13% VAT, which is higher than the Yuan 22,630-22,936/t range in the week of August 30-September 3.
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As of August 31, China’s national price of 99.7% primary aluminum ingot under Mymetal’s assessment had surged to Yuan 21,214/tonne ($3,284/t) including 13% VAT, the highest since the launch of the assessment in April 2007. The price subsequently eased slightly on September 1 to Yuan 21,114/t but was still Yuan 567/t higher on week, according to Mymetal’s data. Mymetal is Mysteel’s nonferrous market intelligence arm.
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Spot lead prices in China declined for the third week over August 25-September 1, according to the survey conducted by Mymetal, Mysteel’s non-ferrous market intelligence unit. The further retreat in lead prices mainly reflected traders’ bearish sentiment due to the fall in lead futures prices, and end-users’ weak demand, market sources commented, which culminated in slack spot trading over the period.
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Copper prices in China’s physical market increased over August 20-27, according to the weekly report from Mymetal, Mysteel’s nonferrous metals market research arm. The slip in stocks lent support to copper prices, market sources said.
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China’s domestic lead prices declined over August 13-20 in response to the decline in lead futures prices on the Shanghai Futures Exchange (SHFE), according to the latest survey from Mymetal, Mysteel’s nonferrous metals data collection arm.
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China’s zinc price has been softening recently, with the national price of zinc ingot (at least 99.995%) declining for five consecutive working days as of August 24 to settle at Yuan 22,804/tonne ($3,524.6/t), down a total of Yuan 345/t from the 2.5-month high reached last Thursday, according to the latest weekly report from Mymetal, Mysteel’s data collection arm of non-ferrous products. Market watchers blamed lukewarm downstream demand.
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As of August 24, China’s national price of 99.7% primary aluminum ingot under Mymetal’s assessment, surged to 20,388/tonne ($3,150/t) – a high since March 7 2008, or up Yuan 170/t on week, mainly as the shortages of electricity for industrial use had still been curtailing the primary aluminum output in major production bases such as Inner Mongolia and Yunnan, according to market sources.
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Copper prices in China’s physical market eased over August 16-20, in tandem with the trend in copper futures prices on the Shanghai Futures Exchange (SHFE), according to the weekly report from Mymetal, Mysteel’s nonferrous metals market research arm.
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Domestic lead prices in China slipped to one-month lows over August 11-18, according to the latest survey from Mymetal, Mysteel’s nonferrous metals data collection arm. Survey respondents observed that trading in the lead market has become more active since last week with the improved demand from domestic lead-acid battery producers.
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Copper prices in China’s physical market grew during August 9-13, in tandem with the trend in futures prices, according to the weekly report from Mymetal, Mysteel’s nonferrous metals market research arm.
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Shortages of electricity for industrial use are constraining supplies of primary aluminum across China, with the result that the light metal’s prices are firming, market sources shared on Wednesday.
