60,000 MT Scrap Lithium Battery Recycling Project Launched in Guangdong

This week, ferrous metals moved sideways and upward. During the week, as US-Iran negotiations made no progress and the Strait of Hormuz remained closed, combined with declining US crude oil inventories, Brent crude oil surged sharply, driving coking coal higher. Although BHP port spot cargoes were available for purchase, which was bearish for market sentiment, futures had already priced in related expectations earlier, so iron ore pullback was limited and cost support was relatively neutral. The Politburo meeting held mid-week had low direct correlation with ferrous metals, and ferrous metals fluctuated at highs during the week. Spot market side, end-users restocked at low prices before the holiday, and as futures rose in the latter half of the week, speculative demand was also released...

[SMM Aluminum News] This week, the operating rate of leading enterprises in China's secondary aluminum industry edged down WoW. On one hand, amid shrinking orders, downstream enterprises generally reduced procurement volumes, maintaining a pace of just-needed, small-batch restocking. On the other hand, some enterprises halted production and went on early holidays due to insufficient orders or inventory risk control considerations, further suppressing market transaction activity and dragging down the operating rate of secondary aluminum producers. As off-season characteristics in May further intensified, if downstream resumption pace remained slow and new orders failed to follow through, the industry's operating rate would still face certain downward pressure.

[SMM Tin Midday Review: SHFE Tin Rebounded Above 385,000 in Morning Session, Spot Market Trading Sluggish Awaiting Post-Holiday Guidance]