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Nonferrous Metals’ Prices Continued to Fall

July 31 nonferrous metals index was 875 points , up 2 points compared to yesterday’s , down 12.94% to the highest point 1005 ( 2012-01-31 ) in this cycle, up 1.16 % to the lowest point 865 of July 25, 2012. (Note: The cycle refers from 1st Dec,2011 to 31st July, 2012 )
In July, most metals’ prices dropped and few fell in the nonferrous metals market. But the falling pace was slower compared with last month’s -4.05%. It showed that the market is becoming stable gradually, almost in accordance commodity supply and demand index BCI released by the business community this month. BCI was 0.04 and average rise 0.98 %. All this indicated the manufacturing economy of the month was expanding and the economy showed stabilization signs. Fell products still are rare earth products. Less demand and the pressure of the export made the rare earth market continued to show a downturn trend.
Minor metal products are in short supply, influenced by the summer factory maintenance. Some products’ prices showed a strong upward trend. Basic metals market showed polarization. Half dropped and half rose. To a certain extent, it benefited from the stabilization of the entire manufacturing economy. This also contributed to the increase of the consumption of some downstream products. Such as copper rod wire. The average capacity utilization rate was 74.07% in June ,growing 0.76% compared with the same period of last year ; Lead and Zinc rose slightly. The supply was tight in Fujian and Yunnan, because of manufacturers overhaul and the operating rate of decline ( Zinc enterprises operating rate to 56 % ). To some extent, the situation boost the market. The precious metals gold and silver stopped falling to rebounded.
Analyzed by Business Community, with policies, such as household electrical appliances to the countryside and cut interest rates , are going to stimulate consumption, the market would remain ups and downs to short-term. Besides, Aluminum , Lead , Zinc and Nickel are still decline even though the prices have been close to cost. Imports of some products also reflected in raising domestic demand. In nearest future, basic metal products remain ups and downs, but the overall decline. Rare metals (RE) will continue to be down slightly. Of course, their downstream products, such as ,Nickel Chloride and Nickel Sulfate would keep the same step.

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