Latest Update in the SMM Carbon Anode Market

[SMM SHFE Tin Brief: Warm Macro Sentiment and Weak Trading Volume Offset Each Other, SHFE Tin Retreated after Rapid Rise and Closed at 423,000]

After the holiday, ferrous metals opened higher, but subsequent trends diverged—steel products and iron ore fluctuated at highs, while coke surged before pulling back. The strong rally during the week was mainly driven by disturbances outside China. During the holiday, the US-Iran standoff escalated with widening negotiation gaps, pushing raw materials to lead the gains in ferrous metals. Combined with capital inflows after the holiday, this provided a clear upward drive for prices. In the latter half of the week, market rumors suggested that Iran and the US had reached a consensus on easing the US naval blockade in exchange for the gradual reopening of the Strait of Hormuz, and bears increased their positions in coke. Data on the five major steel products were released, showing weakness in both supply and demand, with inventory not accumulating after the holiday. On the spot market side, traders had a strong willingness to hold prices firm, and purchases were made in both futures and spot cargo at low price levels...

[SMM Tin Midday Review: Multiple Macro Factors Drove Futures Higher, Spot Market Fell into Stalemate with Scarce Transactions]

[SMM Tin Midday Review: SHFE Tin Rebounded Past the 400,000 Mark After the Holiday, with Absolute High Prices Causing Spot Trades to Stagnate]

This week, ferrous metals moved sideways and upward. During the week, as US-Iran negotiations made no progress and the Strait of Hormuz remained closed, combined with declining US crude oil inventories, Brent crude oil surged sharply, driving coking coal higher. Although BHP port spot cargoes were available for purchase, which was bearish for market sentiment, futures had already priced in related expectations earlier, so iron ore pullback was limited and cost support was relatively neutral. The Politburo meeting held mid-week had low direct correlation with ferrous metals, and ferrous metals fluctuated at highs during the week. Spot market side, end-users restocked at low prices before the holiday, and as futures rose in the latter half of the week, speculative demand was also released...

[SMM Tin Midday Review: SHFE Tin Rebounded Above 385,000 in Morning Session, Spot Market Trading Sluggish Awaiting Post-Holiday Guidance]

[SMM Tin Midday Review: Rising Futures Center Suppressed Buying Interest, Trading Cooled Today After Partial Demand Release Yesterday]

[SMM Tin Midday Review: SHFE Tin Tested the 380,000 Level, Bargain Buying Drove Spot Trades to Recover]