Latest Update in the SMM Titanium Market

According to an SMM survey, as of November 21, the total social inventory of lead ingots in five regions tracked by SMM stood at 64,400 mt, a decrease of 19,900 mt compared to November 14, and a decrease of 20,600 mt compared to November 18.

According to customs data, in October 2024, refined lead exports were 1,886 mt, up 110.83% MoM but down 90.63% YoY.

According to data from the General Administration of Customs, China imported a total of 3.008 million mt of copper cathode from January to October 2024, up 6.67% YoY.

NIO reported total revenues of 18,673.5 million yuan (US$2,661.0 million) for Q3 2024, a slight decline of 2.1% compared to the same period in 2023 but a 7% increase over the previous quarter.

According to the latest data from the NBS, China's copper semis production in October 2024 was 1.9664 million mt, down 2.3% MoM.

As of Thursday, November 21, SMM copper inventories in major regions across the country increased by 2,100 mt compared to Monday.

September manufacturing PMIs for France, Germany, and the Eurozone were all higher than expected, while the US ISM manufacturing PMI for September recorded 47.2, lower than the expected 47.5.

Economic signals, like inflation rates and shifts in interest rates and currency values, greatly influence the prices of metals such as gold and silver in the market. When inflation goes up and currency values decrease in value, investors often seek out metals as a way to protect their investments against inflation. Likewise, when interest rates are low, assets like gold and silver become more appealing despite not generating any income. The strength of a currency also impacts pricing; for instance, a weaker dollar usually leads to higher prices for metals traded in dollars.eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee