Globalization Milestone Achieved! BTR Agreement with Moroccan Government

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.

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.

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.

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%.

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.

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%.