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Futures rose sharply and basis narrowed at the end of the month
Today, following the news of Shanghai nickel’s surge and Guangxi’s power curtailment, the main stainless steel futures contract rose by 3.87% to 18,125 yuan/ton. However, due to the serious oversold early in the futures, the spot price in the afternoon failed to keep up, and the basis of stainles...Read more -
Following Japan, South Korea will double its reserves of rare metals. Domestic mining companies must pay attention to market trends and respond well!
Recently, the South Korean government convened the 42nd Emergency Central Countermeasures Headquarters Meeting and released the “Rare Metal Industry Development Countermeasures Version 2.0″. The government decided to double the reserves of important rare metals such as tungsten, m...Read more -
Brazilian aluminum producer CBA expands investment, bets that global aluminum supply continues to be tight
This year, global aluminum prices have soared to more than a decade high. From beer cans to aircraft parts, global aluminum demand rebounded sharply in the post-epidemic era. In this context, Brazil’s largest aluminum producer Brazil Aluminum (CBA Alumínio) intends to expand investment ...Read more -
Shanghai nickel closed up 4.6%, boosted by supply concerns
Foreign media news on August 12: Shanghai nickel prices jumped by more than 5% on Thursday, affected by China’s supply concerns. At the same time, the US inflation data cooled, alleviating concerns about policy tightening and weakening the US dollar. The main September nickel contract on th...Read more