On May 29, 2023, WISCO Group Xiangyang Heavy Equipment Materials Co. solicited bid for 60B ferromolybdenum.

DCE iron ore futures market rose sharply trends in the afternoon. the main contract closed 709.5. an increase of 3.96% throughout the day.

DCE iron ore futures fall today by 2.23%. the main contract I2309 closed 681. Traders have strong willingness to support prices;

DCE iron ore futures market falling trends, the main contract I2309 closed 707, an decrease of 2.95% throughout the day; some traders were negative to sell, steel mills purchased on demand.

Last week, wire and cable factories had normal production schedules and orders were stable. From the research point of view, after copper prices fell recently, the willingness of downstream replenishment has increased. Large cable factories had sufficient orders in hand and production schedules were active.

#0 zinc spot was quoted with premiums of 300-340 yuan/mt over SHFE 2307 zinc contract, and discounts in Guangdong stood at 10 yuan/mt to premiums of 20 yuan/mt against Shanghai prices. In the first half of the week, the price spread between the SHFE front-month and SHFE next-month zinc contracts was narrow, and prices in Guangdong stood below Shanghai prices.

Last week, the domestic zinc concentrate TCs remained stable, and the current domestic ore supply is relatively stable. Due to the continuous rise in the SHFE/LME zinc price ratio, the profits of imported ores are high. There will be large inflow of imported ore in the near term.

Last week, the average operating rate of galvanising enterprises rose 1.1 percentage points from the previous week to 62.44%. Downstream buyers bought at lows as needed, and the raw material inventory increased slightly. In terms of operating rate, ferrous metals prices stopped falling last week, and orders increased. Some downstream dealers replenished stocks after inventory dropped, which drove galvanised pipe companies to increase production slightly.

Only 3.8% of cars sold in Australia last year were electric, lagging far behind other developed economies such as the UK and Europe.

Recently, the construction of the Yujiang die-casting new energy auto parts project located in Longsheng New Town, Liangjiang New District, Chongqing is progressing in an orderly manner. The production equipment of the project will be installed and debugged by the end of this year, and will start production in April next year.