Report: Tianneng Group, Anyang Minshan to launch 200,000 mt battery recycling project

SHFE nonferrous metals broadly rose for the most part on Wednesday June 23 with investors awaiting key Purchasing Managers' Indexes from the euro zone.

SHFE nonferrous metals broadly closed higher across the board on Tuesday June 22, triggered by the Fed's updated inflation projections and a shortening of its interest rate hike schedule.

SHFE nonferrous metals broadly fell on Monday June 21, following jitters in global markets over the more hawkish tone from the US Federal Reserve last week.

LME base metals closed mixed in the overnight trading last Friday, as the expanding inflation and rising US dollar weighed on the market, but short supply still supported the prices. SHFE metals basically went down.

LME base metals all fell in the overnight trading yesterday, as US dollar index went up slightly, and the plummeting US May retail sales brought negative sentiments to the market. Meanwhile, SHFE metals closed mixed amid the policy control.

SHFE nonferrous metals all closed higher on Friday May 28. Copper rose 2.22%, aluminium added 1.47%, zinc increased 2.83%, nickel soared 4.85%, lead gained 1.6% and tin surged 4.81%.  

The 10th Secondary Lead-acid Battery Industry Summit 2020—held by SMM—took place today, at which SMM senior Pb analyst Xia Wenming gave a speech on the theme of “How China lead market will fare in H2 2020 on the backdrop of oversupply”

Jiangsu Tafel New Energy Technology on May 17 kicked off construction of its phase II and III capacity of a power battery project, which is located at the Jiangning Development Zone, Nanjing.  

Hubei Linuo New Energy Technology has begun trial operations of its phase I capacity of a battery project for commercial new energy vehicles at the Shiyan New Industrial Zone, Hubei province.

China's installed capacity of batteries to power electric vehicles climbed 29.5% from a month ago to 3.6GWh in April, following a surge of 363.2% in the month of March, showed data from the China Automobile Power Battery Industry Innovation Alliance, suggesting the country’s EV sector continues to recover from the fallout caused by the coronavirus pandemic.