COVID-19 pandemic once again swept the world recently. The new cases surged in US, Europe, and south-east Asia due to the spread of Delta variant. Pandemic was also spreading in China. On August 1, 31 province (including autonomous regions and municipalities) and the Xinjiang Production and Construction Corps reported 98 new confirmed cases, including 43 imported cases and 55 local cases.

A weekly update on the trending stories from the New Energy sector.

Shares of China Northern Rare Earth, Shenghe Resources, GEM, Xiamen Tungsten, Guangsheng Nonferrous, Yujing, Huicheng Environmental Protection and Chalcosurged by daily limit. Shares of Dadixiong and Minmetals Rare Earth rose by more than 9%.

Destocking of cobalt sulphate slowed in March, with inventory down 488 mt in metal content. Demand did not recover to pre-CNY level, while supply recovered rapidly to 4,301 mt in metal content.

Shanghai base metals were mostly higher on Tuesday morning as investors awaited remarks from US President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen. Meanwhile, their counterparts on the LME also rose for the most part.

SHFE nonferrous metals rose for the most part on Monday January 18 as investors in the region reacted to Chinese economic data, including the country's GDP print for the fourth quarter.

Shanghai base metals rose for the most part on Wednesday January 13. Nickel, the best performer, jumped 3.15%, copper added 0.72%, lead rose 1.72% and tin edged up 0.1%, while aluminium fell 1.11% and zinc shed 0.14%.

Nonferrous metals on the SHFE were mostly higher on Wednesday morning, and their counterparts on the LME rose across the board, as investors watched for developments on the coronavirus front.

SHFE nonferrous metals broadly fell on Monday December 14 as investors reacted to the approval of Pfizer’s Covid-19 vaccine.

SHFE nonferrous metals closed mixed on Friday December 11 as as investors kept an eye on negotiations over additional fiscal stimulus in the U.S.