Latest Update in the SMM Lithium-ion Battery Market

SMM Aluminum Spot Market Midday Review: Futures Surge, Spot Premiums Struggle to Hold Firm on Quotes. Inventory-wise, according to SMM's domestic aluminum ingot social inventory data, the inventory in mainstream consumption areas stood at 802,000 mt on March 27, down 25,000 mt from the previous day. In the short term, the peak season backdrop coupled with the ongoing growth trend in new energy aluminum usage is expected to sustain the destocking trend in social inventory. Additionally, the limited arrivals in mainstream consumption areas such as Wuxi continue to support aluminum prices. However, due to downstream caution over high prices, the narrowing of premiums and discounts is relatively slow.

【SMM Weekly Copper Inventory Data in Major Regions】: As of Thursday, March 27, SMM's national mainstream copper inventory increased slightly by 900 mt to 334,500 mt compared to Monday, and decreased by 11,900 mt compared to the previous Thursday, achieving four consecutive weeks of destocking. Currently, it has fallen back from highs by 42,500 mt and is lower by 56,400 mt YoY.

In terms of aluminum billet inventory, according to SMM statistics, the inventory in major domestic consumption areas stood at 272,000 mt on March 27, down 16,000 mt WoW. Today, SHFE aluminum rebounded above 20,800 yuan/mt. Supply in South China is expected to tighten, limiting the decline in market processing fees. In Nanchang, east China, the center of aluminum prices shifted upward, leading to a noticeable pullback in processing fees. Mid-week, bargain down purchasing prices were still prevalent, with actual transaction feedback being average. Today, the aluminum billet market in Foshan quoted 160/210 yuan/mt, down 10 yuan/mt; the processing fee in Wuxi was quoted at 150/200 yuan/mt; and the processing fee in Nanchang was quoted at 150/200 yuan/mt, unchanged. (Unit: yuan/mt)

【SMM Daily Review: Silver Prices Continue to Fluctuate at High Levels, Some Suppliers Hold Back and Wait】According to SMM, the premiums and discounts for spot cash national standard silver ingot warrants TD in the Shanghai area today were quoted at -2 yuan/kg to 0 yuan/kg, while the premiums and discounts for large factory silver ingot TD were near parity or at a discount of 21-23 yuan/mt against the 2506 contract.

SMM Midday Review: US Dollar Index Declines, Domestic Market Outperforms Overseas Market in Metals, Alumina Drops 1.39%, Coke Rises Over 1%. Domestic market base metals generally rose. SHFE lead increased by 0.14%, SHFE zinc decreased by 0.27%. SHFE copper fell by 0.81%. Alumina dropped by 1.39%. Lithium carbonate rose by 0.19%. Ferrous metals series mostly rose, iron ore increased by 0.83%, rebar decreased by 0.5%, coke rose by 1.4%. As of 11:39, overseas market base metals generally declined. LME lead fell by 0.55%. LME copper increased by 0.52%. COMEX gold rose by 0.45%. The US dollar index decreased by 0.18%, reported at 104.36.

【SMM HRC Weekly Balance & Social Inventory Review】Weak Supply and Strong Demand, Social Inventory Destocking in Good Condition This week, the impact of maintenance significantly weakened, HRC supply fluctuated rangebound. During this period, futures first rose and then fell, market transactions experienced a surge, and traders actively destocked, with social inventory showing a good downward trend. Looking ahead, the number of rolling lines under maintenance and planned for maintenance is relatively small in the short term, supply resistance is expected to rebound, but the space will not expand so quickly. Meanwhile, end-use demand remains resilient, and it is expected that national social inventory will continue to destock in the short term...

Guangdong Zinc: Market Trading Atmosphere Sluggish, Spot Premiums/Discounts Decline. The mainstream transaction price of Guangdong 0# zinc was 24,055-24,165 yuan/mt. The mainstream brands quoted a discount of 30 yuan/mt against the 2505 contract and a discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened....

Shanghai Zinc: Sentiment Remains Weak, Transactions Show No Improvement: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,075-24,170 yuan/mt, while Shuangyan traded at 24,125-24,200 yuan/mt. The mainstream transaction prices of 1# zinc were at 24,005-24,100 yuan/mt. In the morning session, the market quoted a premium of 0-10 yuan/mt against the average price, with fewer quotes against the futures price...