News

An Australian green hydrogen and ammonia project has selected Trinasolar to supply integrated solar technology for its renewable energy infrastructure. The project will utilize Trinasolar's high-efficiency PV modules and energy storage solutions to power green hydrogen and ammonia production, supporting Australia's low-carbon fuel ambitions. The collaboration highlights the growing integration of solar generation with large-scale hydrogen developments as Australia advances its clean energy industry.

Clean Energy Fuels Corp. will build a US$27.5 million hydrogen refuelling station in Carson, California, to support the transition of public transit fleets to zero-emission fuel cell buses. The facility will be capable of dispensing up to 25,000 kilograms of hydrogen per day, making it one of the largest hydrogen bus refuelling stations in the United States. The project is expected to support California's clean transportation goals by providing hydrogen fuel for hundreds of fuel cell buses operating across the Los Angeles region.

Canada Nickel's Crawford nickel project in Ontario has received federal approval following the completion of Canada's impact assessment process, clearing a key regulatory milestone for project development. The Crawford project is expected to become one of the world's largest nickel operations and is the first mining project approved under Canada's 2019 Impact Assessment Act. The company estimates the mine will have a 41-year operating life and play a strategic role in supplying low-carbon nickel for the electric vehicle battery and stainless steel industries.

The Eurozone's preliminary annual CPI for July was 2.9%, versus expectations of 2.90% and a prior 2.80%; the preliminary monthly CPI was 0.2%, versus expectations of 0.10% and a prior -0.10%.

This week, ferrous metals drifted lower overall, with iron ore and rebar leading the decline and hitting new stage lows. The core driver of the downturn was a confluence of multiple bearish factors: First, the Politburo meeting ended, and the outcome fell short of market expectations, causing sentiment support to collapse. Second, cost support collapsed in a stepwise manner. The second round of coke price cuts was quickly implemented, and the market widely expects a third round to come. Combined with hot metal output falling to a trough, global iron ore shipments staying high, and port inventories being ample, the decline in raw material prices allowed the negative feedback loop to transmit smoothly. Finally, end-use demand was seasonally sluggish, with high temperatures and rainfall dampening construction. Total inventories of ferrous metals continued to accumulate, spot transactions were sluggish, and the supply-demand imbalance persisted......

July SMM Copper Cathode Production...

[SMM Shanghai Spot Copper] Looking ahead to next week, as a new round of procurement cycle begins at the start of the month, restocking demand from some downstream buyers and traders may be released, providing some support for spot premiums. After low-priced cargoes were gradually traded during the day, suppliers' willingness to hold prices firm increased notably. Quotes for standard-quality copper with invoices dated next month were basically maintained at a premium of 200 yuan/mt or higher, with limited willingness to sell at much lower prices. However, with copper prices still at elevated levels, the actual growth in downstream purchases remains to be seen, and the gradual arrivals of imported copper may also supplement spot supply. Overall, supported by the release of procurement demand at the start of the month and suppliers' efforts to hold prices firm, Shanghai spot copper prices against the 2608 contract are expected to remain at a premium next week. The overall center may stop falling and rebound, while attention needs to be paid to the volume of imported arrivals and their actual impact on supplementing market supply.

[SMM Flash] US: in June, core PCE up 0.1% MoM, expected 0.2%, prior 0.3%; core PCE up 3.3% YoY, expected 3.3%.

[SMM Flash] OpenAI slashed the price of GPT-5.6 Luna by 80% and GPT-5.6 Terra by 20%.

[SMM Flash News] Russia will extend its diesel export ban to January 31, 2027.

[SMM Express] US June PCE turned negative, core inflation rose 0.1% MoM, lower than market expectations of 0.2% and the prior 0.3%. US Q2 GDP annualized growth of 1.5% missed expectations.