LME tin contract prices have fluctuated rangebound since September 10 while SHFE tin stood firm. US Dollar fell slightly today. SHFE tin hit a record high of 266,190 yuan/mt after rising for four consecutive days. The open interest of SHFE tin rose 4,000 lots to 57,000 lots as of 10:29.

Since China established the targets of carbon peaking by 2030 and carbon neutralisation by 2060 (hereinafter referred to as the "dual carbon target"), domestic local governments have gradually increased the dual control policies on energy consumption. The imbalance between supply and demand of commodities caused by power rationing has drove up the prices and manufacturing costs rapidly.

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

The Yunnan NDRC Energy Conservation Work Panel issued the "Notice on Striving to Fulfil Tasks on Dual Control of Energy Consumption. The local white phosphorus is a typical energy using product, with power consumption per mt as high as 15,000 kWh. Environmental protection supervision remains strict. The average monthly output of white phosphorus production line from September to December 2021 is required to not exceed 10% of the output in August.

SMM believes that the contradictions in the zinc market in the second half of the year are not prominent, and the supply of zinc ore and zinc ingots is expected to maintain a tight balance. In the future, it is necessary to continue to pay attention to the macro aspects and the news on release of national reserves and its influences on zinc inventory.

SHANGHAI, Sep 10 (SMM) - Domestic alumina prices have repeatedly hit this year’s new highs recently amid brisk trades, with no signs of retreat in the foreseeable future.

Malaysia has tightened the standards for imported metal scrap. The implementation time will be postponed to October 31. SMM believes that it has a small impact on the domestic aluminium scrap market and has a certain impact on imported aluminium scrap, but it can also be replaced by regional resources due to its small amount.

China sold 1.007 million NEVs in H1, up 220.9% year on year, becoming the world's largest NEVs market. The best-seller list include Hongguang Mini, Li Auto, BYD Han, Changan Benben and Tesla Model 3. Sales of Wuling Hongguang Mini registered 30,142 units in July.

SMM data showed that China's refined zinc output stood at 508,900 mt in August, down 1.22% on the month and 0.04% on the year. Output from January to August was 4.04 million mt, a year-on-year increase of 4.47%. Alloy output at domestic refined zinc smelters in SMM’s survey sample registered 75,500 mt in August, up 80 mt on the month.

Total lithium concentrate production capacity at spodumene mines in the world stands at about 2.695 million mt, a year-on-year decrease of about 8%. Lithium concentrate prices fell amid oversupply.