LME Metal Inventories Decline Across Most Categories on December 12

[SMM Data: Complete Summary of SMM March 2026 Import and Export Data] SMM March 2026 import and export data showed: copper cathode net imports were lower YoY; primary aluminum imports reached 255,000 mt, up 14.8% YoY; refined lead imports surged significantly; zinc ingot imports were up 220% MoM; tin ore imports were up 122% YoY; silver imports were up 93% MoM; steel exports rebounded MoM; PV module export value was up 122.7% MoM; silicon metal exports were up 43% MoM, and magnesium exports hit a multi-year high. Among new energy materials, exports of LiPF6 and artificial graphite surged significantly.

According to Mining.com, he leftist political agenda in Peru includes several proposed changes that could significantly reshape the mining regulatory framework, particularly for copper and other base metals. A key proposal is to increase state participation in mining revenues, potentially through higher royalties or new taxes linked to mineral production value. This aligns with past policy ideas that aim to capture a larger share of commodity windfalls during high-price cycles, especially in copper, Peru’s most important export sector.

According to SMM's latest pricing, supported by tight international shipping capacity and rigid demand, the sulfur (CIF Indonesia) price range was $990-1,050/mt this week, up $60/mt WoW. Market sources indicated that only a few sellers were able to offer firm cargo quotations, while the remaining cargoes were still stranded within the Gulf. Currently, some sellers had raised their sulfur offers to the Indonesian market to $1,250-1,300/mt, but no actual transactions were concluded. Although unreleased cargoes within the Gulf were quoted at around $900/mt, negotiations between buyers and sellers were extremely difficult, and market trading was sluggish.