Iron ore prices rise while Fitch thinks consumption growth slows in the second half of the year

[SMM Precious Metal Express] The PBoC announced it will conduct overnight reverse repo operations from August 27 to September 1, with daily volume not exceeding RMB 600 billion, and will conduct RMB 500 billion in one-year MLF operations on August 25. The accommodative liquidity environment supports precious metals valuations.

In H1, in the face of multiple challenges including tight raw material supply, tighter environmental protection constraints, and a complex and rapidly changing market environment, Wuxin Copper of Xinjiang Nonferrous Metal Group achieved a 136.22% increase in total industrial output value YoY, with the cash collection ratio from operations exceeding 110.41%. Major production and operating indicators all rose, delivering an impressive “mid-year report card.” Behind these encouraging results is Wuxin Copper’s path of concerted efforts: closely aligning with the main theme of the “Party-Building-Led Standardized Operations and Management Year,” staying committed to hard work and tackling tough challenges, pressing ahead against the odds, and breaking through various production and operational

Hunan Province has launched the second round of its provincial ecological and environmental protection inspection "look-back" campaign. The first batch of seven inspection teams has been fully deployed since June 13, 2026, covering the cities of Changsha, Zhuzhou, Yueyang, Shaoyang, Hengyang, Huaihua, and Zhangjiajie. According to market sources, some lead-zinc mines have suspended production as a result of the inspections. SMM will continue to monitor and assess the potential impact on zinc concentrate supply.