Citigroup Says Tesla Unlikely to Abandon CATL and Turn to Other Suppliers for Full Tax Credits

As we near the end of July, a notable slump in the prices of photovoltaic glass has been observed throughout the month. Currently, the prices for 3.2mm and 2.0mm photovoltaic glass are hovering between 24.8-25.5 yuan/square meter and 16.5-17.5 yuan/square meter respectively. Compared to June, these figures represent a decrease of 0.85 yuan/square meter and 1.4 yuan/square meter. But what are the underlying causes of this significant price drop?

Since last Tuesday night, nickel future prices have shown a strong trend, with the SHFE nickel closing last week up approximately 3.3%.

SHANGHAI, Jul 24 (SMM) –SHFE 2308 tin contract jumped to 234,790 yuan/mt at last Friday’s night session, but then fell back rapidly, with a low at 231,500 yuan/mt before closing at 232,260 yuan/mt or 0.5%.

I2309 closed down 0.12% at 846.5 yuan/mt today. 

The prices of battery separators stabilised this week.

Positive news from real estate improved market sentiment last week. However, the overall rebound in zinc prices was weak as expectations of oversupply existed due to high supply, more zinc imports and the off-season. However, we have not yet seen the accumulation of visible inventory. The inventory of smelters has increased as they were reluctant to sell at low prices.

The People's Bank of China implemented the fifth Central Bank Bills Swap (CBS) operation in 2023 on Monday May 29, 2023.

SHANGHAI, May 30 (SMM) – The prices of battery-grade nickel sulphate were stable last week.

U.S. President Biden said in a speech on May 28 local time that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling and urged Congress to pass the agreement as soon as possible.

This is a roundup of global macroeconomic news last night and what is expected today.