China Minmetals Development 2009 Profit down 50 pct on Falling Commodity Prices

[SMM Revisão Semanal do Magnésio: Mercado de Magnésio Consolida em Baixa Após Feriado, Fraqueza Dupla de Oferta e Demanda Pressiona Preços] A cadeia industrial do magnésio esteve globalmente em baixa esta semana. Os preços da dolomita permaneceram estáveis, com os preços de entrega na fábrica consolidando em máximas. As cotações do lingote de magnésio caíram devido à fraca reposição de estoques pós-feriado e ao aumento da oferta a preços baixos, com os preços FOB também recuando em paralelo. Os mercados de pó de magnésio e ligas de magnésio mantiveram-se estáveis com taxas de processamento firmes, mas os compradores a jusante permaneceram à margem, apresentando um padrão geral de oferta forte e demanda fraca. No curto prazo, os preços do magnésio podem continuar a mover-se lateralmente.

[SMM Analysis: Futures Strength Fails to Offset Arrival Pressure, Stainless Steel Social Inventory Stops Falling and Rebounds] On May 7, SMM reported that stainless steel social inventory stopped falling and rebounded this week, ending the previous continuous destocking trend and shifting to a slight inventory buildup. Total inventory across the two core markets of Wuxi and Foshan edged up, rising from 945,900 mt on April 30, 2026 to 955,200 mt on May 7, up 0.98% WoW, showing a phased inventory buildup pattern. This week was the first week after the Labour Day holiday. The market gradually resumed normal trading. Driven by further strengthening of SS futures, stainless steel spot prices rose in tandem. The downstream mentality of "rush to buy amid continuous price rise and hold back amid price downturn" became prominent. Post-holiday stainless steel spot market trading volume warmed up notably, easing inventory buildup pressure to some extent. However, the core influencing factor lay on the supply side. Current stainless steel mill profitability remained favorable, and the production schedule pace stayed high. Recent steel mill arrivals were relatively concentrated, effectively alleviating the shortage of certain specifications that previously existed in the market. Arrivals exceeding trading volume became the dominant driver pushing stainless steel social inventory to stop falling and rebound this week. Overall, although SS futures strength drove a trading recovery this week, partially offsetting some inventory pressure, the concentrated release of arrivals still dominated the inventory trend. The current high production schedule pattern at steel mills remained unchanged, and subsequent arrival pressure persists. The sustainability of the downstream trading recovery still needs to be observed. In the short term, inventory is expected to maintain slight fluctuations, and subsequent focus should be on the direction of SS futures and the pace of steel mill arrivals...

[Flash de Notícias sobre Tungstênio] SMM 6 de maio: Um grupo da indústria de tungstênio em Jiangxi divulgou os preços de contratos de longo prazo para a primeira quinzena de maio. O preço de referência para concentrados de volframita de grau nacional primeira classe para a primeira quinzena de maio de 2026 foi de 720 mil yuans/tonelada padrão (base 65% WO3) (contrato de longo prazo), uma queda de 190 mil yuans/tonelada padrão (base 65% WO3) em relação à segunda quinzena de abril.