[SMM Weekly Survey on Aluminum Downstream: Operating Rate of Aluminum Processing Industry Slips Slightly to 58.7% Amid Off-Season and Weak Demand amid High Temperature] Affected by factors such as the off-season amid high temperature, high aluminum prices, insufficient profit margins, and weak downstream demand, the operating rate of the aluminum processing industry this week decreased by 0.1 percentage point WoW to 58.7%.

[SMM Spot Magnesium Ingot Report: Magnesium Prices Consolidate Sideways, Market Game Continues] SMM reported on July 3 that today's Fugu magnesium ingot prices were quoted at 16,100-16,200 yuan/mt (FOB $2,220-$2,300), remaining stable for several consecutive days. The market exhibited characteristics of "consolidation at low prices and high willingness to refuse to budge on prices": factories maintained a strategy of refusing to budge on prices, with active shipments of futures orders, and frequent trading by traders as the shipment date approached. Despite an increase in inquiries for magnesium alloy and other products, downstream buyers drove down prices, resulting in limited actual transactions. The game between buyers and sellers continued. It is expected that in the short term, magnesium prices will still be dominated by producers, maintaining a doldrums trend.

[SMM Analysis: Weekly Summary of the LFP Market] This week, the price of LFP continued the upward trend from last week, with an overall increase of approximately 210 yuan/mt. The price of lithium carbonate also continued to rise this week, with a cumulative increase of about 950 yuan/mt.

[Multiple factors drive the center of spot silicon metal transactions higher]: This week, both spot and futures prices of silicon metal held up well compared to last week. In the futures market, the main continuous contract fluctuated considerably during the week, with a high of 8,285 yuan/mt and a low of 7,705 yuan/mt. It closed at 8,010 yuan/mt at the end of Thursday's trading session, up 290 yuan/mt WoW. In the spot market, prices for multiple grades rose. Today, SMM east China oxygen-blown #553 silicon was priced at 8,600-8,800 yuan/mt, up 500 yuan/mt WoW. #441 silicon was priced at 8,800-9,000 yuan/mt, up 400 yuan/mt WoW, and #421 silicon was priced at 8,900-9,100 yuan/mt, up 300 yuan/mt WoW. Spot silicon metal traded at a premium to futures prices, with spot prices following futures higher after the futures market rose.