China's Iron Ore Imports Increased In May But To Fall In June

In April, China's customs data showed import volume of lithium concentrate stood at 441,309 mt in physical content.

NCM cathode material prices inched lower in the week ending April 18.

In the short term, there is an oversupply of lithium, leading to a decrease in the price of lithium carbonate and energy storage batteries. However, there is an expected increase in global new energy vehicle sales, which will drive up the demand for energy storage batteries. The global lithium carbonate production capacity is expected to exceed 2 million tons in 2024, leading to the risk of high-cost lithium production capacity being eliminated. In the short term, there may be a slowdown in downstream demand for lithium due to early reserve in power and energy storage industries, but with the recovery in demand, positive electrode material production is expected to increase. Additionally, events like early orders for positive electrode materials and the cancellation of futures contracts may impact the market in the short term, and market participants need to closely monitor these trends and take appropriate measures.

The latest data released by Ukrainian Customs revealed a rise by 2.36 times YoY and 94% MoM to 3.115 million mt in exports in January 2024. 

Export Volume Of Lithium Hexafluorophosphate In December

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.

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.