Citigroup Bullish on Gold, Sees Price Target Reaching $2,200-2,300 Per Ounce

SHFE 2404 tin contract saw limited fluctuations last Friday night, closing at 226,800 yuan/mt, down 0.24%.

At last Friday’s night session, the most-traded SHFE 2405 aluminum contract opened at 19,445 yuan/mt, with its lowest and highest at 19,400 yuan/mt and 19,595 yuan/mt before closing at 19,510 yuan/mt, up 110 yuan/mt or 0.57%.

Tesla has reduced production of electric cars at its China factory due to slow growth in new energy car sales and fierce market competition. Employees have been instructed to work 5 days a week instead of the usual 6 and a half days, with no clear timeline on when normal production will resume. Competition in China is increasing, with Tesla's shipments down in the first two months of 2024, and demand for electric cars in other major regions like the US and Europe also slowing down. Some production lines at Tesla's Shanghai factory, including the battery workshop, are facing longer shutdowns, with production restrictions expected to extend until April.

Kloeckner Metals UK has recently inaugurated its cutting-edge stockholding and processing facility at Newbridge Link in the Newbridge Industrial Estate in Edinburgh.

EKA, a prominent player in the electric mobility sector, has officially unveiled its highly anticipated 1.5-tonne electric Light Commercial Vehicles (LCVs) in collaboration with Mitsui Co., Ltd. from Japan and VDL Groep from the Netherlands as equity partners.

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.

On August 15, the National Bureau of Statistics showed that in July, the production of major energy products in industrial enterprises above the designated size maintains year-on-year growth.

Chongqing issued the Notice on Further Optimizing the Use of Housing Provident Funds on August 11.