Latest Update in the China Tin scrap Market

A total of 84 vessels carrying 12.31 million mt of iron ore arrived at major Chinese ports during April 11-17, SMM estimates. This was down 890,000 mt from the previous week, and basically flat from the same period last year.

rades in the rare earth market further thinned. On prices, prices of upstream magnetic materials, including praseodymium, neodymium, terbium, dysprosium, gadolinium and holmium, declined to varying degrees. The quotations of products such as lanthanum, cerium, samarium, europium, and gadolinium stabilised.

Domestic installed capacity of motive power battery was 9.0GWH  in March, up 224.8% year-on-year and 61.3% month-on-month.

A summary of the trending news of the New Energy sector.

According to China Northern Rare Earth (Group) High-Tech (High-Tech), the net profit attributable to shareholders of the world‘s largest supplier of light rare earth products in 2020 totalled 833 million yuan, a year-on-year increase of 35.1%. Operating income stood at 21.25 billion yuan, up 17.43% year-on-year; basic earnings per share were 0.2303 yuan, up 35.1% year-on-year. In 2021, the company plans to achieve operating income of 22 billion yuan with a total profit of 1 billion yuan.

Nornickel has resumed mining at the Oktyabrsky mine after the flood on April 12. Production was resumed ahead of schedule as the drainage work was completed. The mine recovery plan was updated, and it is expected that Oktyabrsky (annual ore output- 5 million mt) will fully resume production by the end of April. Production load has reached 60% of the planned level.

SMM has adjusted the sample size of zinc concentrate enterprises to 147 companies in January.

Prebaked anode prices were largely stable last week. Production in Shandong and Henan is picking up as environmental production restrictions are being gradually loosened, and the impact on supply will be mainly reflected in May.