[SMM Spot Aluminum Midday Review: Spot Premiums Continue to Fall amid Off-Season Atmosphere] SMM reported on July 8: After the SHFE aluminum front-month contract's price center moved down to around 20,630 yuan/mt in the morning session, it experienced a slight V-shaped reversal to around 20,670 yuan/mt. East China continued to see inventory buildup, with market arrivals increasing, resulting in a buyer's market with complete oversupply. Despite the downward movement of the aluminum price center and an increase in downstream inquiries, market transactions still carried a discount of 20 yuan/mt against SMM. Today, SMM A00 aluminum was quoted at 20,600 yuan/mt, down 40 yuan/mt from the previous trading day, with a discount of 50 yuan/mt against the July contract, down 20 yuan/mt from the previous trading day.
[SMM spot copper] Looking ahead to tomorrow, with several trading days remaining until delivery, it is expected that when the price spread between futures contracts (BACK) for the next month exceeds 200, suppliers will still actively sell their cargo, and there is a possibility that Shanghai spot copper premiums will continue to decline.
According to a news release from GRINM New Energy, the first phase of the project with an annual output of 10,000 mt of cathode material for lithium-ion batteries, constructed by GRINM New Energy Materials (Jiangxi) Co., Ltd. (hereinafter referred to as GRINM New Energy), has recently successfully passed the planning acceptance by the planning authority of Xinyu High-Tech Zone in Jiangxi Province. This marks that the project has met high standards in terms of planning compliance, construction quality, and supporting facilities, laying a solid foundation for the enterprise's high-quality development. This project is an important layout for the company in the field of new energy materials. The first phase of the project has a total investment of 180 million yuan and a total construction area of 28,000 m², encompassing functions such as office, R&D, and production.
Shanghai Zinc: Futures market declined significantly, premium struggled to rise [SMM Midday Review]
[Shanghai Zinc: Futures Market Declines Significantly, Premiums Struggle to Rise]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,025-22,255 yuan/mt, with Shuangyan zinc trading at 22,045-22,275 yuan/mt, and 1# zinc trading at 21,955-22,185 yuan/mt. In the morning session, the market offered premiums of 50-70 yuan/mt against the SMM average price, with fewer quotes against the futures market...