📌 Commodity Update

Advisory Bazaar Info Services

Silver prices saw a slight increase today, while the premium gap in the spot market continued to widen. In Shanghai, suppliers limited sales at higher premiums, whereas some traders reduced premiums to clear stocks ahead of the holidays. Demand improved slightly in Shenzhen, where jewelers and downstream units increased raw material purchases before the Chinese New Year. Actual trading activity remained slow due to the holiday atmosphere.

The front-month contract rose by 320 yuan to close at 101,950 yuan/ton. In Hubei, secondary copper rod was quoted at 100,900–101,000 yuan/ton, at a discount of around 1,000 yuan/ton, where trading stayed sluggish.

On February 12, an overseas deal for 30,000 tons of alumina was concluded at $311.5/ton FOB India for March shipment, slightly higher than the previous deal ($308/ton on January 29).

According to SMM, the average price of 10–12% grade NPI stood at 1,043 yuan/MTU, showing a marginal rise, although market sentiment remained slightly weak.

Pressure on silicon steel costs persisted due to a decline in HRC futures. Demand weakened as downstream units shut down for the Chinese New Year, and only limited just-in-time buying was observed toward the end of the week.