Latest Update in the SMM Carbon Anode Market

This week, the ferrous metals sector showed a clear downward trend, with rebar and coking coal and coke hitting new lows in recent months. Macro factors carried significant weight this week, leading to increased market volatility. At the beginning of the week, the Politburo meeting's statements fell short of expectations, with no anticipated real estate-related policies introduced, dampening market sentiment and causing a sharp correction in futures. Mid-week, rumors surfaced that China International Capital Corporation Limited (CICC) might be involved in supporting Vanke, which improved market sentiment and triggered a rapid rally in futures, though a slight correction occurred later in the session. The sustainability and substantive impact of real estate-related news remained limited. In the latter part of the week, signals released by the US Fed and domestic economic meetings did not exceed expectations, coupled with market rumors that steel export licensing regulations would be announced today, effective from January 1 next year, sparking concerns about export demand and leading to an expanded decline in futures.

[SHFE Tin Noon Review: SHFE Tin Surges Nearly 4% at Noon, LME Tin Drives SHFE and LME to Resonate and Rise]

[SMM Tin Midday Review: SHFE Tin Price Briefly Breached the 320,000 Mark, Maintaining a Relatively High Level Overall]

[ SMM Tin Noon Review: SHFE tin maintains fluctuating trend Low inventory and tight balance provide bottom support for tin price ]

[SMM Tin Midday Review: SHFE Tin Fluctuates at Highs Under Pressure, Supply-Demand Deadlock Awaits Breakthrough]

This week, ferrous metals continued to rise initially before stabilizing, with most of the most-traded contracts completing the contract rollover. At the beginning of the week, the Central Ecological and Environmental Protection Inspection Team disclosed environmental issues in Tianjin and Hebei, with Tangshan in Hebei being singled out for unauthorized steel projects and additional capacity. Meanwhile, as December began, the two major domestic macro conferences were about to be held, strengthening market expectations and driving ferrous metals higher. In the latter part of the week, the SMM daily average hot metal output continued to decline, and raw material support weakened somewhat.

[SMM Tin Midday Review: Geopolitical Risks Including DRC Continue to Drive "Premium," High Tin Prices Expected to Persist in Short Term]

[SMM Tin Midday Review: Supply-Demand Tight Balance and Interest Rate Cut Expectations Resonate, SHFE Tin Futures Market Continues Overnight Strong Trend]

[ SMM Tin Midday Review: Tug-of-war between sellers and buyers intertwined with macro expectations SHFE tin breaks through 310,000 mark at midday ]

[SMM Tin Midday Review: SHFE Tin Retreats from Highs and Trades Under Pressure, Supply-Demand Standoff Awaits Macro Guidance]