Latest Update in the SMM Magnesium Market

As of the end of the first quarter of 2024, the cumulative installed capacity of newly commissioned energy storage projects in the country has reached 35.3GW/77.68GWh.

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

As of Monday, April 29, copper inventories in mainstream markets across China fell by 16,800 tons from last Thursday to 387,900 tons, a rare sharp decline. The inventories decreased across most regions and only inventories in Chongqing increased.

At the beginning of last week, due to the slowdown in geopolitical turmoil in the Middle East and the strong US labor data, bullish sentiment cooled, and silver prices began to fall. The downstream placed orders last week due to lower prices.

On April 29, SAIC Motor released its first-quarter report for 2024, showcasing steady progress despite challenges like intensified price wars in the Chinese automotive industry.

SMM April 29th: On April 29th, the opening price of the main Shanghai nickel contract was 145,000 yuan/ton and the closing price was 142,850 yuan/ton, a decrease of 3,020 yuan/ton from the closing price of the previous trading day. Intraday trading increased from the previous trading day, with a trading volume of 291042 lots and an open interest of 100654 lots, an increase of 21,522 lots and an increase of 1,132 lots from the previous trading day. This combination indicates that both long and short positions are increased...

On April 29, the average price of SMM8-12% high nickel pig iron was 963.5 yuan/nickel point (ex-factory tax included), up 3.5 yuan/nickel point from the previous working day... SMM, April 29,

On April 27, China’s Traffic Management Research Institute of the Ministry of Public Security, CATL, CITL, and Binhu Shanshuicheng signed a cooperation agreement in Wuxi, Jiangsu Province, to jointl...