Vale Is Advancing Huge Investment, Betting On Strong Demand For High-Grade Iron Ore

Prices of SMM mainstream rare earth permanent magnets

Export Volume Of Lithium Hexafluorophosphate In December

LME copper prices opened at $8557.5/mt and closed at $8547.5/mt in narrow range, a drop of 0.23%, with the low-end of $8529/mt and the high-end of $8599/mt.

According to the SMM analysis team, the aluminium rod supply was largely stable in December.

According to SMM statistics, the social inventory of domestic aluminium billet across China’s five major markets stood at 83,800 mt on January 18, up by 800 mt WoW, up by 2,700 mt compared with January 15, and up by 48,100 mt YoY (as CNY holidays were relatively late this year).

On January 18, 2024, SMM data showed that the social inventory of aluminium ingots in China’s eight major markets was 441,000 mt, and the amount available for sale stood at 315,000 mt, down by 18,000 mt WoW.

Overnight, the most-traded SHFE 2403 aluminium contract opened at 18,745 yuan/mt, with high and low at 18,760 yuan/t and 18,665 yuan/mt before closing at 18,700 yuan/mt, down 65 yuan/mt or 0.35%.

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 77,200 mt as of Friday January 12, down 4,400 mt from January 5 but up 500 mt from January 8.

LME zinc: At the beginning of last week,  LME zinc prices fell as market expectations for the Fed's interest rate cut weakened.

Domestic steel scrap price inched up in December. As of December 31, steel scrap price in Zhangjiagang stood at 2,660 yuan/mt, up 100 yuan/mt MoM.