Latest Update in the SMM Lead Market

USGS has revised Vietnam's rare earth reserves down from the previous 22 million mt to 3.5 million mt.

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[US Fed Interest Rate Cut Expectations Weaken, US Dollar Index Rises, Copper Prices Open Lower] Macro-wise, US Fed's Goolsbee reiterated support for further interest rate cuts and expressed openness to acting at a slower pace. As the market expects fewer interest rate cuts by the US Fed next year, the US dollar index has rebounded, putting pressure on copper prices.

As of the midday close on December 13, the domestic base metals market mostly declined. SHFE nickel rose by 1.31%, while SHFE tin fell by 0.8%. SHFE zinc dropped by 1.04%. SHFE lead, SHFE copper, and SHFE aluminum all saw declines of less than 1%, with SHFE lead falling by 0.71%. Alumina increased by 1.64%. Additionally, lithium carbonate fell by 1.24%, and silicon metal declined by 0.89%. The ferrous metals series uniformly fell, with iron ore dropping by 1.3%. Rebar and HRC fell by 1.55% and 1.77%, respectively. Stainless steel decreased by 0.46%. In the double coke sector, coking coal fell by 1.77%, and coke dropped by 2.88%. In the overseas metals market, as of 11:39, the basic metals showed mixed performance. LME tin rose by 0.1%, while LME nickel and LME aluminum slightly increased, and LME copper fell by 0.05%, LME zinc by 0.2%, and LME lead by 0.4%. In the precious metals sector, as of 11:39, COMEX gold increased by 0.1%; COMEX silver fell by 0.46%. Domestically, SHFE gold fell by 0.38%, and SHFE silver by 1.94%. As of the midday close, the most-traded Euro Line Shipping contract surged by 5.99%, reaching 2,562.5 points. [Reproduction must retain the source - SMM] Metals mostly fall, alumina and SHFE nickel rise over 1%, coke and SHFE silver lead declines, Euro Line Shipping surges【SMM Midday Review】 https://news.smm.cn/news/103087042

Used in the production of iron and steel, coking coal — also known as metallurgical coal — is a key raw material. It differs from thermal coal, which is primarily utilized for electricity generation. Coking coal has special characteristics that allow it to be heated at high temperatures in the absence of oxygen, whereby it is transformed into a porous carbon-rich material briquetting which are integral for steelmaking. The creation of this material is enhanced by coking, a process that allows the properties of metallurgical coke to reach their full potential and serves as a reducing agent in the blast furnace where iron ore can be transformed into crude iron.