Refined Nickel Inventory in Bonded Zone Increased This Week

March 2, 2025— After the Chinese New Year, the aluminum wire and cable industry resumed production at a steady pace. This week, the operating rate of leading enterprises reached 53%, up 2 percentage points MoM, primarily due to the orderly resumption of work as planned. However, compared to the 60% operating rate in the same period of 2024, the current rate still reflects a YoY decline of 7 percentage points. The weaker recovery in capacity compared to last year is mainly constrained by two factors: first, the industry's delivery peak has not yet arrived; second, the total volume of pending orders for enterprises is lower than the same period in 2024, directly impacting the momentum of operations.

[Hundreds of Boats Compete, the Brave Take the Lead—2024 Annual Review of the NEV Market] Global NEV sales in 2024 are expected to reach 17.15 million units, up 20% YoY; China's NEV sales are projected to be 12.85 million units, with domestic sales accounting for approximately 89% and exports about 11%, and the penetration rate of NEVs in China reaching 45%; sales in Europe are expected to reach 2.81 million units, down 4.7% YoY; US sales are projected to be 1.62 million units, up 11% YoY.

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.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Aug 11, 2023

The price of LCO rose last week, mainly caused by the increase in the price of Co3O4.

This is a roundup of global macroeconomic news last night and what is expected today.

The price difference between high and medium-grade ore expanded last week, while that between medium and low-grade ore narrowed. At Qingdao port, the price difference between mainstream high-grade ore (IOCJ fines) and medium-grade ore (PB fines) widened 9 yuan/mt to 93 yuan/mt, while that between mainstream medium-grade ore (PB fines) and low-grade ore (super special fines or SSF) shrank 8 yuan/mt to 135 yuan/mt. Last week, the profits of steel mills expanded slightly, and the price difference between high-grade and medium-grade ores narrowed below 84 yuan/mt.

SHANGHAI, May 15 (SMM) - The prices of cobalt intermediate products fell slightly last week.

SHANGHAI, May 15 (SMM) - Yangshan copper premiums averaged $27.89/mt under warrants in April, down $5.72/mt MoM, and $40.76/mt under bill of lading, up $2.59/mt MoM.

SHANGHAI, May 15 (SMM) - The US debt crisis escalated, while Chinese macro data fell short of expectations.