[SMM Analysis: High Copper Prices Suppress Purchase Willingness, Contradiction Between Operating Rate and Inventory of Copper Wire and Cable Intensifies in June] According to SMM, the operating rate of domestic wire and cable enterprises in June this year was 72.41%, down 9.27 percentage points MoM and up 0.76 percentage points YoY, which was 5.06 percentage points lower than expected. Among them, the operating rate of large enterprises was 76.99%...
[SMM Rare Earth Morning Meeting Summary: Rare Earth Upstream Quotations Remain Firm, While Downstream Transactions Are Sluggish] Guided by news-related factors, the bullish sentiment in the rare earth market has increased. Suppliers show strong reluctance to budge on prices, and there has been a slight increase in the activity of downstream inquiries. However, trading conditions have not significantly improved.
Weak supply and demand, prices maintaining sideways movement [SMM Magnesium Morning Meeting Summary]
[SMM Magnesium Morning Meeting Summary: Weak Supply and Demand, Prices Maintain Sideways Movement] SMM reported on July 2 that magnesium product prices remained stable overall today: Fugu magnesium ingot at 16,200 yuan/mt (FOB $2,220-2,300), magnesium alloy at 17,700-17,900 yuan/mt (FOB $2,480-2,510), and magnesium powder at 17,450-17,650 yuan/mt (FOB $2,380-2,450). Raw material dolomite was priced at 78-128 yuan/mt, and ferrosilicon at 5,600-5,700 yuan/mt (futures fell by 120 yuan). The market maintained a weak balance between supply and demand. Production resumptions of high-quality magnesium ingot in Shaanxi may drive up demand for high-quality dolomite, but the European summer break is suppressing exports. The expansion of magnesium alloy capacity has intensified competition in processing fees, while magnesium powder continues to operate under a production-on-order model. Prices are expected to remain volatile in the short term, and it is recommended to monitor marginal changes in demand.
Supplier quotes rebound, spot alumina prices stop falling [SMM Alumina Morning Comment]