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

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, LME zinc prices opened at US$2,581/ton and reached a low of US$2,567/ton during the period. During the European trading session, LME zinc prices moved up and hit a high of US$2,605.5/ton, finally closing at US$2,587/ton, up US$0.5/ton, or 0.02%.

SMM renewable energy industry data

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%.

LME zinc prices opened at $2548/mt last evening and closed down $86.5/mt or 3.39% at $2466.5/mt. Trading volume increased to 11397 lots, and open interest decreased by 1323 lots to 208,000 lots. LME zinc inventory dropped by 1600 mt or 0.77% to 205700 mt.