SMM Weekly Refined Cobalt Market Review

Overnight, LME copper opened at $9,882/mt, fluctuated widely at the beginning, reaching a high of $9,908/mt, then kept falling, dropping to $9,740/mt near the end of the trading session, and finally closed at $9,787/mt, with a drop of 1.6%.

On June 13, Jinchuan nickel was at a premium of 2,500-3,000 yuan/mt, with an average of 2,750 yuan/mt, flat compared to the previous trading day.

Industry experts stated on Monday that aluminium smelters in China's southwestern province of Yunnan are restarting factories due to improved power availability.

According to SMM research, on March 20, the blast furnace operating rate was 89.45%, an increase of 0.3% month-on-month.

As we celebrate March 18th as 'Global Recycling Day', it's time to shine a spotlight on one of the unsung heroes of the recycling world: aluminium.

In February, the lack of consumption due to CNY holidays drove accumulation of stocks. Lead prices thus fell back from high levels. LME lead prices dropped below the $2,000/mt mark, reaching a low of $1,994.5/mt. On the first day after the CNY holiday, SHFE lead prices fell sharply and stopped falling at 15,800 yuan/mt, supported by costs.

Overnight, the most-traded SHFE 2403 aluminium contract opened at 18,810 yuan/mt, with high and low at 18,815 yuan/t and 18,730 yuan/mt before closing at 18,760 yuan/mt, down 110 yuan/mt or 0.58%.

SMM zinc industry data

Overnight, the most-traded SHFE 2403 aluminium contract opened at 19,050 yuan/mt, with high and low at 19,050 yuan/mt and 18,975 yuan/mt before closing at 19,005 yuan/mt, up 5 yuan/mt or 0.03%.

In the week ending November 9, lithium carbonate prices continued to fall. Upstream salt plants insisted on their prices for spot orders, but with the sparse transactions, prices would only go down.