Pr-Nd oxide prices continuously declined, some rare earth metal factories opted to sell at low prices to recoup funds

Indium prices were stable and slightly declined last week.

According to SMM research, as of March 5, the operating rate of 50 electric furnace steel mills that mainly produce building materials was 44.28%, an increase of 10.52 percentage points from the previous month.

The mining sector in Jamaica experienced an approximate 23.6 per cent growth during the final quarter of 2023.

LME lead opened at $2,039.5/mt on Monday, hitting a low of $2,031/mt, but hiked to a high of $2,057.5/mt amid falling US dollar index and non-ferrous metal price gain, and finally closed up $17.5/mt or 0.86% at $2,055.5/mt.

Overall, in the domestic market, basic metals such as aluminum oxide and nickel fell, while other metals showed slight increases. LME metals fluctuated, with aluminum, nickel, and tin falling, and other metals rising slightly. Lithium carbonate fell after reaching a new high, while industrial silicon rose. The black metal sector closed lower, with coke, stainless steel, and coal falling, and gold and silver in Shanghai rose. In terms of spot and fundamentals, stainless steel prices rose due to high opening of steel mill prices, but with weak consumption demand and increased production, market confidence is low. For lithium carbonate, limited supply and rising prices for scattered orders are reported.

According to SMM survey, the lead ingot social inventory across five major regions in China totalled 59,600 mt as of February 29, up 10,600 mt from February 22 and 4,800 mt from February 26.

This week, China's "Two Sessions" will be held. The market will keep an eye on the policy direction conveyed by the meeting.

Pr-Nd oxide price extended losses last week.

Zinc prices fluctuated around 20,500 yuan/mt, and there will be still room for price gains.

SHANGHAI, May 17 (SMM) - The most-traded SHFE 2306 aluminium contract opened at 18,115 yuan/mt overnight, with its low and high at 18,085 yuan/mt and 18,280 yuan/mt before closing at 18,230 yuan/mt, up 115 yuan/mt or 0.63%.