With the rapid development of the robot industry, the rare earth permanent magnet industry is expected to usher in a new growth era comparable to that of new energy vehicles. At the same time, the acceleration of the industrialisation of humanoid robots may further increase the demand for high-performance NdFeB.

In the spot market, on July 26, Jinchuan nickel were quoted at 11,000-12,000 yuan/mt, with an average price of 11,500 yuan/mt, down 2,350 yuan/mt from the previous trading day.

SHANGHAI, Jul 26 (SMM) - After falling to a new low of 17,025 yuan/mt on July 14, SHE aluminium bottomed out.

After rising by more than 3% last Friday, iron ore futures rose by more than 7% yesterday.

SHFE and LME base metals closed mixed with little changes as the market players were cautious ahead of the US Fed meeting, after the market has already priced in the 75-basis-point rate hike expectations.

The demand for replacement of lead-acid batteries continued to improve, hence the battery inventories of traders decreased and the orders increased accordingly. SHFE lead prices rebounded to 15,000 yuan/mt after falling.

It is believed that all participants in the value chain need to take joint actions to achieve carbon reduction in the aluminium industry by analysing current problems and difficulties in the recycling of waste cans in China.

As the US inflation data in June was higher than expected, the market was worried about the Fed raising interest rate hike by 100 basis points. Therefore, the prices of pure nickel fell sharply.

China’s total exports of wrought manganese, manganese products, unwrought manganese, shredded scrap, and powder stood at 33,900 mt in June, down 25% month on month but up 35% year on year, according to SMM statistics. China’s total exports of unwrought manganese, shredded scrap, and powder stood at 3,0750 mt in June, down 24% month on month and 28% on the year, and the exports of wrought manganese and manganese products recorded 3,188 mt in August, down 35% on the month and 65% on the year.

SHFE and LME base metals closed mostly with gains as the US dollar index kept falling gradually last week, mainly because the market's expectation of a 100-basis-point rate hike by the Fed continued to cool down.