Main sea freight index at Baltic Exchange rises further to 978 points

Nuode (600110) disclosed its semi-annual report on July 30. H1 revenue was 6.433 billion yuan, up 113.33% YoY;net profit attributable to shareholders of the publicly listed firm was 103 million yuan, versus a loss of 72.4329 million yuan in the same period last year, marking a turnaround to profitability YoY; basic earnings per share was 0.0598 yuan.During the reporting period, the supply-demand pattern of the lithium battery copper foil industry experienced a complete reversal:outdated low-end capacity continued to exit the market, the rollout of new capacity in the industry slowed down, and combined with the surge in demand from both power batteries and energy storage, copper foil processing fees bottomed out. Leveraging its differentiated product portfolio of ultra-thin lithium battery copper foil and high-end electronic copper foil, the company successfully achieved a turnaround to profitability, with overall profitability improving significantly QoQ and YoY.

South Korean President Lee Jae-myung and Chilean President Jose Antonio Kast held a summit in Santiago, and on Thursday the two countries signed five memorandums of understanding, including a mineral resources cooperation document aimed at deepening cooperation in the lithium and copper supply chains.Lee Jae-myung stated that the two countries are "natural and ideal partners" in the field of critical minerals. He pointed out that Chile is the world's largest copper producer and possesses the world's largest lithium reserves, while South Korea has global leading advantages in high-end industries such as semiconductors and power batteries.This mineral cooperation agreement elevates bilateral relevant cooperation to the ministerial level, and plans to expand entire industry chain cooperation for core resources such as lithium and copper, covering information sharing, technology cooperation, and personnel exchanges.

Chile's National Institute of Statistics (INE) said on Friday that copper production in the world's largest producer, Chile, was up 5.1% YoY to 447,294 mt in June.