The import margin for  copper cathodes has rapidly deteriorated. By February 21, the import loss for the SHFE CU2503 contract had exceeded 1,300 CNY/ton, which indicates that the copper cathodes export profit window has opened significantly again since May 2024.Back to the export window opened in May 2024, the import loss peaked at 2,000 CNY/ton, with cumulative exports reaching 230,000 tons between May and June, and June's single-month export of 150,000 tons setting a historical high. The question now is whether this price collapse will trigger another large-scale export? The following is a detailed analysis.

Between January 2 and February 11, 2025, LME and SHFE copper prices recorded two-week gains of approximately 6.31% and 5.28%, respectively. However, the standout performer was the COMEX copper futures contract, which surged by an impressive 15.26%, significantly outperforming both the SHFE main contract and LME 3M copper. For the first time since May 2024, the price spread between COMEX and LME 3M contracts has widened again, reaching nearly $950/ton intraday on February 11, 2025. Unlike the short-lived short squeeze in 2024, this time, the spread window has remained open for a longer period and with greater volatility.

According to MiningWeekly, Australia and the European Union signed a memorandum of understanding on Tuesday to strengthen cooperation and investment in critical minerals, aiming to reduce external dependence on key raw materials required for high-tech and green manufacturing.

Recently, the well-known lithium salt company Jiujiang Yunwei Lithium Industry Co., Ltd. officially put into production a 20,000-ton lithium carbonate and lithium hydroxide project.

Recently, China Lonking (03339) held the debut offline ceremony of an electric loader equipped with CATL's new generation of long-life batteries at its headquarters in Longyan, Fujian.

On April 28th, LONKING held the unveiling ceremony of the electric loader equipped with the new generation of long-life batteries from CATL at its headquarters in Longyan, Fujian.