Latest Update in the China Tin Market

SMM offices will be closed for the National Day holiday from October 1 to 7, 2022. There will be no updates on price data and market news, including SMM Morning Comments and Macro Roundup during this period.

Shanghai nonferrous metals closed mostly with gains on the last trading day ahead of the National Day holiday. The higher-than-expected Chinese manufacturing data boosted the demand outlook for the world's largest metal consumer, while the London Metal Exchange (LME) may remove more brands of metal produced by Russian companies from the exchange's deliverable list, also a bullish call.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 30, 2022

According to the National Bureau of Statistics, the manufacturing purchasing managers' index (PMI) was 50.1% in September, up 0.7 point from the previous month, back to the expansion zone. T

LME and SHFE base metals closed mostly with gains. News yesterday said that the London Metal Exchange (LME) was mulling over a possible ban on Russian metal trading, and then LME metals soared. At the same time, the fall in the US dollar index also supported the rebound of metal prices.

Shanghai nonferrous metals closed all with gains as US dollar retreated from high. And the downstream restocking ahead of the National Day holiday also created some momentum.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 29, 2022

LME and SHFE base metals closed mostly with gains as the US dollar was pressured with the signs of slowing economic growth. In addition, the Bank of England announced an “unlimited” temporary purchase of long-term treasury bonds with a maturity of more than 20 years to stabilise the market.