SHANGHAI, Jul. 31 (SMM) – SHFE 1509 nickel approached to RMB 82,820/mt after opening Thursday evening session at RMB 82,000/mt, to close the session at RMB 82,420/mt.
JAKARTA (Scrap Monster): The proposed regulation due to come into effect on August 1st is expected to limit tin exports from Indonesia. Under the new regulation, tin smelters in the country are required to obtain fresh "clean and clear" certification from the Ministry by confirming that the tin ores consumed by them originate from authorized mines.
SHANGHAI, Jul. 31 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,820/mt Thursday evening, then rose to RMB 14,900/mt, and closed at RMB 14,895/mt, down RMB 60/mt or 0.4%. Trading volumes increased over 10,000 to 51,850 lots, and total positions grew 3,086 to 128,044.
SHANGHAI, Jul. 31 (SMM) – SHFE 1510 lead still outperformed LME lead and thus SMM/LME lead price ratio reached 7.6. SHFE lead dived to RMB 12,930/mt after opening at RMB 13,070/mt for night trading Thursday, to close at RMB 13,010/mt, decreasing RMB 45/mt.
SHANGHAI, Jul. 31 (SMM) – SHFE 1510 aluminum contract struggled around the daily moving average on Friday. The contract touched day’s high of RMB 12,280/mt, and finally ended down RMB 20/mt or 0.16% at RMB 12,255/mt. Trading volumes were up 3,646 lots to 27,614 lots, and positions were up 2,518 lots to 12,262 lots.