RMB Overtakes USD for the First Time in China's Cross-Border Transactions

BTR Agreement with Moroccan Government

In the short term, there is an oversupply of lithium, leading to a decrease in the price of lithium carbonate and energy storage batteries. However, there is an expected increase in global new energy vehicle sales, which will drive up the demand for energy storage batteries. The global lithium carbonate production capacity is expected to exceed 2 million tons in 2024, leading to the risk of high-cost lithium production capacity being eliminated. In the short term, there may be a slowdown in downstream demand for lithium due to early reserve in power and energy storage industries, but with the recovery in demand, positive electrode material production is expected to increase. Additionally, events like early orders for positive electrode materials and the cancellation of futures contracts may impact the market in the short term, and market participants need to closely monitor these trends and take appropriate measures.

In an enigmatic move within the ambit of the #FirstMoversCoalition, Ball Corporation and Novelis have seamlessly joined forces with Alcoa to unveil a distinctive edition of the Ball Aluminum Cup®.

To rejuvenate interest in the Bell Bay hydrogen hub, Australia's Federal Labor Government has allocated a substantial A$70 million, with the combined efforts of state government funding and private-sector contributions, amassing a total investment of A$300 million at the site.

The Aluminium Stewardship Initiative (ASI) has officially declared that Chongqing Millison Technologies Inc.

According to the Algerian ambassador to Malaysia, Abdelhafid Bounour, Lion Group plans to invest around US$ 6 billion (RM27.5 billion) in Algeria in alliance with Algeria's strategic vision of becoming the gateway to Africa and beyond.

Yesterday, low-sulfur coking coal in Lvliang, Shanxi was quoted at 2,100 yuan/mt, while the quotation was 2,400 yuan/mt in Linfen and 2,100 yuan/mt in Tangshan.

This week, the prevailing price for domestic M10-182mm monocrystalline silicon wafers was 3.08- 3.10 yuan/piece, and for 210mm monocrystalline silicon wafers, it was 4.08-4.10 yuan/piece.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 26, 2023

LME lead prices opened at $2,205/mt overnight with the low-end of $2,163/mt. LME lead finally closed at $2184.5/mt, down 1.09%.