In April, China's NMC battery output stood at 12.6 GWh, down 27% MoM and up 55% YoY; LFP battery output at 20.6 GWh, down 18% MoM and up 210% YoY.
Total zinc ingots inventories across seven markets stood at 261,100 mt as of Monday May 16, down 14,900 mt from May 9, down 5,800 mt from May 13. Inventory of zinc inventory continued to decrease this week.
Shanghai nonferrous metals closed mostly with gains as the market saw more stimulus policies domestically. For example, the People’s Bank of China announced a reduction in the interest rate for first home loans.
DCE iron ore futures rose largely by 3.85% today，the main contract closed 834.5. the quotation in the morning was increased by 5-10 yuan/mt from last Friday.
As of Monday May 16, copper inventory across the major Chinese market increased by 7,900 mt from last Friday to 126,800 mt.
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.