Kamoa-Kakula Orders 19 Additional Sandvik Underground Units in SEK275 Million Deal

In H1 this year, the digital industry achieved revenue of 20.71 trillion yuan, up 13.6% YoY, with the growth rate accelerating by 4.1 percentage points YoY. Boosted by the dual drivers of growing AI demand in China and strong export growth, the profitability of the digital industry continued to improve. In January-June, total profits reached 1.79 trillion yuan, up 19.3% YoY, with the growth rate accelerating by 10.3 percentage points YoY. The profit margin on revenue reached 8.6%, up 0.7 percentage points YoY.

According to SMM market communication, available cargoes in the market remain limited. Although copper prices broke through 109,000 yuan/mt again, any suitable cargoes reported in the spot market are quickly traded, with traders and downstream inquiries showing strong enthusiasm. Meanwhile, as month-end approaches, the supply of cargoes with invoices dated this month has become even tighter. Some suppliers still have demand to cover their month-end invoices, making the offers for cargoes with invoices dated this month notably firm, further widening the price spread between cargoes with invoices dated this month and next month to 60-100 yuan/mt.

On August 25, the National Energy Administration released national power statistics for January-July.As of month-end July, China’s cumulative installed power generation capacity reached 4.08 billion kW, up 11.0% YoY. Of this total, installed solar power capacity was 1.29 billion kW, up 16.1% YoY; installed wind power capacity was 690 million kW, up 19.5% YoY.