Daily crude steel output at CISA key mills dip 0.65% in early-Jul

[SMM Aluminum Alloy Daily Review] After opening higher today, aluminum alloy 2604 fluctuated upward and briefly surged to 24,125 yuan before pulling back somewhat, then maintained a narrow consolidation in the afternoon. It finally closed at 23,885 yuan, up 205 yuan/mt from the previous close, an increase of 0.87%. Boosted by the rebound in futures prices, ADC12 quotations rose across the board today, with the SMM average price of ADC12 raised by 300 yuan/mt. Driven by the cost side, producers actively recouped earlier losses. However, affected by wild swings in prices during the week, downstream purchasing sentiment remained cautious, with most buyers continuing to wait and see or restock only for immediate needs, while the overall pace of market transactions stayed steady. In the short t

[SMM Flash] According to CAAM data, auto production and sales in February totaled 1.672 million units and 1.805 million units, down 31.7% and 23.1% MoM, and down 20.5% and 15.2% YoY, respectively. In January-February, auto production and sales totaled 4.122 million units and 4.152 million units, down 9.5% and 8.8% YoY, respectively. In February, NEV production and sales totaled 694,000 units and 765,200 units, down 21.8% and 14.2% YoY, respectively. In January-February, NEV production and sales totaled 1.735 million units and 1.71 million units, down 8.8% and 6.9% YoY, respectively, with NEV sales accounting for 41.2% of total new vehicle sales.

[SMM Tin Midday Commentary: SHFE Tin Contract Fluctuated Near 390,000, Traditional Consumption Season Performed Slightly Below Expectations]