SMM News Summary: Manufacturing PMI Declines, Metals Prices Fall, Energy Storage Market Reviewed, and Rare Earths Demand Prospects

Published: May 31, 2024 14:37

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【SMM Today's News Summary】

►National Bureau of Statistics: In May, the manufacturing PMI was 49.5%, indicating a certain decline in the boom level of the manufacturing sector.

►Metals prices mostly fell, with coke and alumina prices decreasing by more than 3%, and Shanghai silver, Shanghai copper, and Shanghai tin experiencing the largest declines.

►Interpretation of the impact of the 24th Action Plan for Energy Conservation and Carbon Reduction on the copper smelting industry.

►SMM: Review and Prospect of the Global Energy Storage Market from 2023 to 2030.

►SMM: Expected sustained increase in neodymium-iron-boron production in 2024, with prospects for demand in automobiles, wind power, home appliances, and other rare earths.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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