Latest Update in the China Lithium-ion Battery Market

This is a roundup of China's metals weekly inventory as of May 20.

Shanghai nonferrous metals all closed with gains as the rapidly falling US dollar index relieved the market from heavy pressure before, and the expected recovering consumption in China also offered support.

DCE iron ore futures market riseing sharply trends by 5.31%, the main contract closed 842.5. The spot quotation in the morning almost kept steady. but as the disk continues to rose, The traders increased 20-30 yuan/mt.

As of May 20, the nickel ore inventory at Chinese ports dipped 7,000 wmt from a week earlier to 5,363,000 wmt. The total Ni content decreased by 50 wmt.

As of May 20, SMM total social inventories of lead ingots across five regions increased to 99,300 mt, up 1,700 mt from last Friday (May 16) and down 9,300 mt from last Monday (May 16).

In April, China exported 4,601 mt of rare earth permanent magnets, an increase of 7.7% month-on-month and an increase of 18% year-on-year. The export unit prices were $81.57/kg, an increase of 9.8% month-on-month and a great increase of 47.13% year-on-year. Both export and prices of rare earth permanent magnets increased.

According to customs data, China exported 70,100 mt of aluminium wheels in April 2022, down 10% month on month and 15% year on year.

SHANGHAI, May 20 (SMM) - According to customs data, China's total magnesium ingot exports in April 2022 were 23,797 mt, down 13.6% month-on-month and up 8.4% year-on-year.