Trading of spot aluminum continues to be weak

Date Oct 17 2018 14:22:46Source:SHMET

SHANGHAI, Oct 17 (SHMET) –The aluminum spot market remained quiet on October 17, as both traders and downstream plants purchased cautiously after spot prices gained 100 yuan/mt.

SHFE aluminum rallied slightly today after falling to a recent low. Traders held offers largely unchanged.

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Easpring reports surge in net profit in first 3 quarters

Date Oct 17 2018 14:20:20Source:SHMET

SHANGHAI, Oct 17 (SHMET) –Beijing Easpring Material Technology reported its aggregate net profit stood at 190-210 million yuan during the first three quarters of the year, up 3.63% to 14.54% from the same period last year.

The net profit after deduction of extraordinary items was 180-200 million yuan, up 114.74% - 138.6% from 83.82 million yuan in the same period last year.

Strong demand for cathode materials, release of new capacity and the surge in sales revenue and sales volume accounted for the gain.

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BYD to reach full production at Qinghai battery expansion project in late 2019

Date Oct 17 2018 14:08:42Source:SHMET

SHANGHAI, Oct 17 (SHMET) – BYD expects its battery expansion project in Qinghai to reach full operation by the end of 2019, the company said in an interview by  an institute.

The expansion project, with a total capacity of 24Gwh ternary battery, will be built in two phases. Construction of the phase one started this June.

The company had a total capacity of16Gwh motive battery  by the end of 2017, including 10Gwh of lithium iron phosphate battery and 6Gwh of ternary battery.

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Zinc price poised to be weak

Date Oct 17 2018 11:16:31Source:SHMET

SHANGHAI, Oct 17 (SHMET) – SHFE zinc dipped on October 16’s night trading session, with its decline expanding from nearby month to back month. Zinc price is likely to remain weak.

On October 16’s night trading, SHFE zinc traded rangebound after a low open. SHFE 1811 contract opened 22,250 yuan/mt and closed at 22,305 yuan/mt, down 90 yuan/mt or 0.4% from the previous trading day. Transactions reached 172,714 lots, and open interest stood at 168,256 lots, with a decrease of 966 lots.


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Soft data depress copper market

Date Oct 17 2018 10:41:44Source:SHMET

SHANGHAI, Oct 17 (SHMET) – Spot premiums in domestic copper market remained high after the delivery date. Rising inflations, de-leveraging and tightening  liquidity grew pressures among  entity enterprises.

SHFE 1811 copper contract fluctuated in a narrow range bound after opening at 50,330 yuan/mt in the night trading on Oct 16, with high-end at 50,380 yuan/mt and low-end at 50,150 yuan/mt.

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