The latest data from SMM shows that the operating rate of enamelled wire industry machinery this week dropped sharply by 2.07 percentage points WoW, to ...

[SMM Rare Earth Morning Meeting Summary: Rare Earth Oxide Prices Increase, Market Sentiment Leans Towards Wait-and-See] Yesterday, the inquiry activity in the rare earth market improved. Driven by the procurement of major manufacturers and news-related factors, suppliers raised their quotes for medium-heavy rare earths, and low-priced supplies quickly tightened. However, the prices of Pr-Nd remained relatively stable.

[SMM Magnesium Morning Meeting Summary: Magnesium Ingot Market Consolidates at Low Levels, Effect of Capacity Expansion Yet to Be Seen] SMM reported on July 4 that magnesium product prices remained stable overall today. Fugu magnesium ingot was quoted at 16,100-16,200 yuan/mt, with FOB prices at 2,220-2,300 US dollars/mt; the mainstream tax-included ex-factory price of magnesium alloy was 17,700-17,900 yuan/mt, with FOB prices at 2,480-2,510 US dollars/mt; the tax-included ex-factory price of magnesium powder was 17,400-17,600 yuan/mt, with FOB prices at 2,370-2,450 US dollars/mt. In the raw material market, dolomite was quoted at 78-128 yuan/mt, and ferrosilicon at 5,600-5,700 yuan/mt.

[SMM Morning Comment on Cast Aluminum Alloy: Social Inventory Continues to Build Up, Orders Affected by High Temperature and Off-Season Consumption] Aluminum prices continued to rise slightly on Thursday, while the secondary aluminum market continued to struggle to catch up. The SMM ADC12 price range remained stable at 20,000-20,200 yuan/mt. Entering July, factors such as high temperatures during the off-season and high aluminum prices continued to impact downstream orders, prompting some downstream companies to initiate production cuts.

[SMM Silicon-Based PV Morning Meeting Summary: Increased Price Volatility for Solar Cells, Relatively Weak Overall Transaction Volume for Wafers] The market price for N-type 18X wafers is 0.85-0.9 yuan/piece, and the price for N-type 210RN wafers is 1.18-1.2 yuan/piece. The transaction price for Topcon 183N solar cells (with 25% efficiency or higher) is 0.225-0.23 yuan/W; for Topcon 210RN, it is 0.245-0.25 yuan/W; and for Topcon 210N solar cells, it is around 0.24-0.25 yuan/W. HJT 30% silver-coated copper (with 25% efficiency or higher) has recently stabilized at 0.35-0.36 yuan/W.

[7.4 Morning Meeting Minutes] Affected by the general rise in non-ferrous metals and the rebound from oversold conditions, LME nickel prices rebounded. Overall, the immediate production cost of nickel salts has increased. Supply side, some nickel salt smelters halted production for maintenance due to losses, while others maintained stable quotes. Demand side, precursor plants have seen a decrease in inquiry enthusiasm due to weak demand. This week, market transaction and inquiry activity remained at a low level.

Details of the hot topics in the aluminum market this week (June 30 - July 3, 2025) are as follows......