Chengdu Signs 100,000 mt Lithium Battery Recycling Project

[SMM Tin Midday Review: SHFE Tin Rebounded Past the 400,000 Mark After the Holiday, with Absolute High Prices Causing Spot Trades to Stagnate]

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in China's major consumption areas increased by 363 mt from the pre-holiday level (April 30) to 30,900 mt, maintaining a slight inventory buildup trend.

This week, ferrous metals moved sideways and upward. During the week, as US-Iran negotiations made no progress and the Strait of Hormuz remained closed, combined with declining US crude oil inventories, Brent crude oil surged sharply, driving coking coal higher. Although BHP port spot cargoes were available for purchase, which was bearish for market sentiment, futures had already priced in related expectations earlier, so iron ore pullback was limited and cost support was relatively neutral. The Politburo meeting held mid-week had low direct correlation with ferrous metals, and ferrous metals fluctuated at highs during the week. Spot market side, end-users restocked at low prices before the holiday, and as futures rose in the latter half of the week, speculative demand was also released...