Primary aluminium inventories shrank 8,000 mt on week

Customs data shows that China's spodumene ore imports in December increased compared to November, reaching 788.5 thousand physical tons, equivalent to approximately 78.5 thousand tons of lithium carbonate equivalent (LCE) (calculated by SMM based on statistical processing considering average grade and moisture content).

The U.S. side declared that if Canada reaches a new trade agreement with China, it will impose tariffs of up to 100% on goods imported from Canada. In response, Foreign Ministry spokesperson Guo Jiakun stated that China and Canada are committed to building a new-type strategic partnership and have reached a series of specific arrangements to properly handle economic and trade issues between the two countries. These measures are not targeted at any third party.

The European Union and India have successfully signed a free trade agreement. Under the agreement, India will eliminate or reduce tariffs on 96.6% of goods exported from the EU to its domestic market. Notably, automobile tariffs will undergo a gradual reduction process, decreasing from the original 110% to a final rate of 10%. At the same time, the EU has committed to eliminating or lowering tariffs on 99.5% of goods imported from India over the next seven years.