Refined Nickel Inventory in Bonded Zone Increased This Week

Rare earth elements (REEs) are a group of 17 chemical elements that play a significant role in various high-tech applications, particularly in the electronics industry. These elements are crucial for manufacturing a variety of electronic components, including smartphones, laptops, and electric vehicles. Their unique magnetic, optical, and electrochemical properties enable the production of smaller, lighter, and more efficient devices, making them indispensable in today's electronics market.

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.

SMM magnesium price

Low-sulfur coking coal in Lvliang, Shanxi was quoted at 2,300 yuan/mt, while the quotation was 2,250 yuan/mt in Linfen and 2,100 yuan/mt in Tangshan.

Affected by the sharp drop in futures prices, steel mills in the Tangshan area lowered their purchase prices of iron ore concentrate by 20-25 yuan/mt.

The most-traded SHFE 2303 zinc contract fell after opening lower at $2514.5mt, and finally closed at $2481/mt, down $31/mt or 1.23%. Trading volume

Overnight, LME zinc prices opened at $2537/mt and closed down $50/mt or 1.97% at $2489/mt.