Globalization Milestone Achieved! BTR Agreement with Moroccan Government

In May 2024 (31 days), the production of overseas metallurgical grade alumina was approximately 4.88 million mt, up 1.8% YoY.

Overnight, LME copper opened at $9,693.5/mt, initially dropped to $9,680/mt, then fluctuated upwards, hitting a high of $9,816.5/mt during the session, and finally fluctuated widely to close at $9,805/mt, with a drop of 0.77%.

On June 7, the National Development and Reform Commission and other departments issued a notice on the "Special Action Plan for Energy Conservation and Carbon Reduction in the Steel Industry."

According to the SMM imported ore cost and profit table, imported ore profits slightly declined.

In Q2, affected by port issues, the price of imported Gabonese manganese ore rose significantly, and the prices of sulfuric acid and sodium hydroxide stayed high.

Last week, the mainstream transaction prices for P-type dense polysilicon were 34-38 yuan/kg, and the transaction prices for N-type polysilicon were 40-44 yuan/kg.

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.

SHANGHAI, February 28 (SMM) –Last week, the operating rate of leading domestic aluminum downstream processing companies rebounded by 4.2 percentage points from pre-holiday to 55.5%.

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.