- Futures
- Base Metals
- New Energy
- Ferrous Metals
- Rare Earth
- Scrap Metals
- Minor Metals
On June 17, Hunan Chendian New Energy Development Co., Ltd. issued a notice of bid cancellation for the first batch of PV module procurement in 2025. Due to the fact that there were fewer than three qualified bidders during the bid evaluation, the project was canceled in accordance with relevant legal provisions.
Rare Earth Market Polarizes, Prices Fluctuate Rangebound [SMM Rare Earth Daily Review]
[SMM Rare Earth Daily Review: Bipolar Differentiation in Rare Earth Market, Prices Fluctuate Rangebound] Currently, the rare earth market prices are showing a bipolar differentiation, fluctuating rangebound. This is mainly reflected in light rare earths, where the prices of Pr-Nd products have recovered due to restocking purchases by magnetic material enterprises. In contrast, for heavy rare earths, due to weak demand, the overall purchasing center of the market revolves around the light rare earth market, with slowed purchasing of heavy rare earths and low activity in offers and inquiries.
According to SMM statistics, as of June 19, the inventory of primary aluminum ingots at major domestic consumption hubs stood at 449,000 mt, down 9,000 mt from Monday this week and 11,000 mt WoW from Thursday last week. On a YoY basis, it was down 307,000 mt compared to the same period last year and 69,000 mt compared to the same period in 2023, remaining at a low level compared to the same period over the past three years. It was also just a stone's throw away from the year's low inventory level of 440,000 mt, with low inventory continuing to provide strong support for aluminum prices...
[SMM Midday Review of Spot Aluminum: Futures Market Fluctuates Considerably, Prices Decline, Market Transactions Improve] Inventory side, according to SMM's domestic aluminum ingot inventory data, domestic aluminum ingot inventory stood at 449,000 mt on June 19, experiencing a destocking of 0.9 mt compared to the previous trading day. In the short term, the relatively low arrival of aluminum ingots and the reduction in aluminum ingot inventory are conducive to high spot premiums in the spot market. However, there is a strong fear of high prices in the spot market, with downstream purchase willingness being poor. Transactions are concluded at discounts, and it is expected that the short-term spot premiums will show a narrowing trend.
