SMM Notice on News Updates Suspension during the Mid-Autumn Festival

The trend of nickel prices in H1 2024 overall presented an inverted "V" shape. The performance of nickel prices in H1 this year can be summarized as a rise followed by a fall...

Dear visitors/subscribers, Thank you for your continued support. We would like to inform you that due to the upcoming Dragon Boat Festival, all of our news updates will be temporarily suspended on June 10 and some of our English weekly reports for the week of June 3-7 will be delayed by one day to June 11.  

In the week of May 20-23, refined cobalt prices continued to rise. From the supply side, new production capacity is Steadily ramping up, and the market operating rate remains at a relatively high level. From the downstream demand side, end-user demand has resumed lower-than-expected, with only some essential purchases during the week. Market sentiment remains strong, and spot prices remain firm.

We would like to inform you that due to the upcoming Labour Day holiday,  all of our news updates will be temporarily suspended during May 1-5 and all of our weekly reports for the Labour Day holiday week will also be temporarily cancelled.

During the Spring Festival holiday, the LME metal on the outer disk "rose". London Xi led the way with a 3.85% increase, London copper rose 2.99%, London zinc rose 2.58%, London nickel rose 1.62%, London lead rose 0.88%, and London aluminum fell 0.31%.

Review of the Copper Market during the Spring Festival: The downstream operating rate slightly weakened before the holiday. However, according to SMM research, overall pre-holiday inventory levels remained considerable, and terminal consumption was somewhat suppressed due to the previously high copper prices.

As we approach the Chinese New Year holidays, different battery companies have different arrangements for vacation dates. The different timing of the February vacation is also indicative of the current polarization in the industry

Dear Sir or Madam, SMM offices will be closed for the Mid-Autumn Festival and National Day holiday from September 29 to October 6, 2023.

SMM offices will be closed for the International Labour Day holiday from April 29 to May 3, 2023. There will be no updates on price data and market news, including SMM Morning Comments and Macro Roundup during this period.