Hot News

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  Pr-Nd oxide rose more than 2% in four trading days, and the concept of rare earth permanent magnets continued to strengthen, with Longci Technology leading the gains [SMM Flash News]

• SVOLT's Thailand factory hits 10,000th EV battery pack milestone

  Currently, the battery packs produced at the factory are widely used in many China-branded vehicle models sold in the Thai market.

• The price increase of medium-heavy rare earth slows down, while the price of light rare earth continues to rise [SMM Rare Earth Daily Review]

  [SMM Rare Earth Daily Review: Medium-heavy Rare Earth Price Increases Slow Down, While Light Rare Earth Prices Continue to Rise] Currently, rare earth market prices are showing a slight upward trend, but the price increases have slowed down today. This is mainly reflected in the weakening price increases in the medium-heavy rare earth market. Affected by export controls, downstream magnetic material enterprises have relatively stable demand for medium-heavy rare earths, with most enterprises focusing their procurement efforts on light rare earths, resulting in relatively ordinary actual transactions in the medium-heavy rare earth market. Additionally, as major manufacturers have slowed down their procurement of medium-heavy rare earth oxides, the overall market demand is weak, leading to a slowdown in price increases.

• Under the off-season atmosphere, spot premiums for aluminum continue to decline [SMM Spot Aluminum Midday Review]

  [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.

• Trading collapsed, with both trading volume and price of Shanghai spot copper falling [SMM Shanghai spot copper]

  [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.