Latest Update in the China Rare Earth Salts Market

This is a roundup of China's metals weekly inventory as of July 1.

DCE iron ore was was shocked and continued downward all the day.The main contract closed at 747.5,decreased of 6.85%. Traders are generally motivated to ship, steel mills are mainly on the sidelines, and there are few transactions in the market.

Shanghai nonferrous metals closed with losses after the U.S. Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2 percent in May, below economists' expectations of 0.4 percent.

As of July 1, port inventories of nickel ore in China dropped by 120,000 wmt to 5.044 million wmt compared with last week.

As of July 1, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 84,500 mt, down 400 mt from last Friday (June 24) and up 2,700 mt from last Monday (June 27).

SMM silicon metal inventory across three major markets in China totaled 85,000 mt as of July 1, flat from a week ago.

PrNd products prices dropped as a whole this week. The prices of PrNd oxide and alloy mainly stood at 930,000-940,000 yuan/mt and 1.13-1.15 million yuan/mt respectively early in the week.

SHANGHAI, Jul 1 (SMM) - Ganfeng Lithium and Tianqi Lithium are the top two lithium resource firms in China.