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Recently, the Administrative Approval Bureau of Ganzhou City issued a public notice on administrative approval applications, announcing that the environmental impact assessment (EIA) for the 15,000 mt/year lithium carbonate project (re-application) of Jiangxi Xiangnan New Energy Co., Ltd. has been approved. It is reported that the project is located in the Xinhua Industrial Zone of Dayu Industrial Park, Jiangxi Province, with a total investment of 2.1 billion yuan, including 25 million yuan for environmental protection, accounting for 1.19% of the total investment. The main investments in this project include 90 million yuan for equipment, 50 million yuan for working capital, and 70 million yuan for other purposes (including environmental protection investment). The main product is 15,000 mt/year of battery-grade lithium carbonate, with a by-product of 73,483.25 mt/year of sodium sulfate decahydrate.
Metals generally rose, with LME zinc and coking coal up over 1%, while crude oil, NYMEX gold, and SHFE gold fell [Overnight Market]
High prices curb downstream purchase willingness. SHFE tin prices fluctuate rangebound at 263,000 yuan/mt. [SMM Tin Morning News] Macro: (1) The National Association of Financial Market Institutional Investors held a symposium on supporting the high-quality development of automakers in China's interbank market. (Bullish ★) (2) Guangzhou Huangpu: Encourage the development of high-end semiconductor and sensor materials to build the core bearing area of the third pole of China's integrated circuit industry. (Bullish ★) (3) The "first move" of Michelle Bowman, the newly appointed Vice Chair for Supervision of the US Fed: A meeting will be convened to discuss relaxing bank leverage ratio requirements.
[SMM Steel Morning Meeting Summary] Yesterday, rebar futures fluctuated rangebound, closing at 2,981, up 0.17% from the previous trading day. In terms of spot prices, spot prices in most regions remained stable, while prices in a few regions fell by 10 yuan/mt. The market sentiment was one of wait-and-see, with trading performance throughout the day falling short of the previous day. On the fundamental side, EAF steel mills, facing intensified profit losses, saw some mills reducing operating hours or halting production. Blast furnace steel mill profits remained considerable. According to the SMM survey, the impact from maintenance on building materials this week was 1.262 million mt, down 57,000 mt WoW, with supply increasing slightly...
