Shanghai Metals Market

[SMM Analysis] High-Grade NPI Market Continues to Decline, How Will It Evolve in the Future?

The average price of SMM 10-12% high-grade NPI fell 10 yuan/mtu WoW to 943.5 yuan/mtu (ex-factory, tax included), while the ...
Shanghai Metals Market

[SMM Analysis] The New Era of Stainless Steel: Navigating a Global Market Dominated by Asia and Divided by Trade Barriers

At the "ROLLED STEEL MARKETS: sales, production, strategy" international conference held on October 14-15, 2025 at Moscow, ...
Shanghai Metals Market

Stable Overall with Selective Upswings; Export Window to Reopen & Tungsten Powder Market Divergent

This week, China's domestic tungsten market showed an overall stable performance. On the upstream side, most spot mine ...
Shanghai Metals Market

[Nickel Pig Iron Daily Review] High-Grade NPI Prices Hold Steady Amid Back-and-Forth Negotiations Between Upstream and Downstream

High-Grade NPI Prices Hold Steady Amid Back-and-Forth Negotiations Between Upstream and Downstream] October 17 (SMM) - The average price of SMM 10-12% high-grade NPI stood at 938 yuan/mtu (ex-factory, ...
Shanghai Metals Market

BC Copper Pulls Back After Rising in Night Session, Market Closely Watches US Government Shutdown Risk [SMM BC Copper Review]

Today, the most-traded BC copper 2511 contract opened at 75,010 yuan/mt, closing lower with increased bear positions. During the night session, BC copper fluctuated upward initially, hitting a high of ...
Shanghai Metals Market

As the Weekend Approaches, Market Trading Turns Sluggish, Iron Ore Prices Continue in the Doldrums [SMM Brief Commentary]

Today, the most-traded iron ore futures contract continued to trade in the doldrums, with the most-traded contract I2601 closing at 771, down 0.19% from the previous day. Some traders halted sales, ...
Shanghai Metals Market

Macro & Fundamental Changes Relatively Small, Ferrous Metals Rebound Still Awaits Time [SMM Steel Industry Chain Weekly Report]

This week, ferrous metals bottomed out after fluctuating downward, with coking coal and coke showing stronger performance than other varieties. At the beginning of the week, the market digested news ...
Shanghai Metals Market

Market supply is limited, and spot prices have been rising all the way. [SMM Shanghai Weekly Spot Market Review]

Spot prices in Shanghai rose throughout the week, up 20 yuan/mt WoW. As of Friday, spot prices for common domestic brands were at a premium of 40 yuan/mt against the 2511 contract, while the premium ...
Shanghai Metals Market

Vietnam Further Strengthens Control Over Rare Earth Minerals, US and UK Adjust Rare Earth Strategy Directions [SMM Weekly Overseas Rare Earth Review]

Last week, new developments occurred in the overseas rare earth sector, with Vietnam further strengthening state control over rare earths and enhancing the management of strategic resources, while the ...
Shanghai Metals Market

[SMM Analysis] Nickel pulled back this week due to fundamental pressure, and inventory levels increased further.

Nickel prices are expected to fluctuate amid the interplay between policy expectations and fundamental realities. Tightening Indonesian mining policies and raw material shortages provide some cost ...
Shanghai Metals Market

[SMM Analysis] Downstream Procurement Demand Was Released This Week, Providing Strong Support for the Nickel Intermediate Product Coefficient.

This week, downstream procurement demand was released, and the coefficient for nickel intermediate products showed strong support.
Shanghai Metals Market

[SMM Analysis] Nickel prices pulled back this week due to fundamental pressure, and inventory levels increased further.

Nickel prices pulled back this week under pressure from fundamentals. In the futures market, the most-traded SHFE nickel contract (2511) closed at 121,160 yuan/mt on Friday, down 1.89% WoW, with ...