Latest Update in the China Used Lithium-ion Battery Market

DCE iron ore futures declined by 0.32% today, the main contract closed 769. The traders' willingness to ship is more.The steel mills are purchase on demand. The overall trading sentiment of the market is general.

Shanghai nonferrous metals closed mostly with losses amid the mixture of bulls and bears. Chinese November official manufacturing PMI came in at 48, down 1.2 points from last month, indicating mounting pressure on the manufacturing sector.

The final reading of PMI of nickel wire and nickel mesh industry was 50.1, above the 50-point mark.

From November 21 to November 27, the throughput of aluminium scrap in Shandong Linyi East China Nonferrous Metal Market was about 12,500 mt, down 12,100 mt or 49.32% compared with the previous week, that of copper scrap stood at about 21,500 mt, down 43.44% WoW, and that of stainless steel scrap was about 7,800 mt, down 43.09% WoW.

The finalised composite PMI for the alloy sector in November came in at 50.24, staying above the 50-point mark.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 30, 2022

SHANGHAI, Nov 30 (SMM) – The mainstream ex-factory prices of Mg90% magnesium ingots in Fugu county, Shaanxi province, were around 22,000-22,200 yuan/mt on November 30, which was 350 yuan/mt lower than the previous trading day.

We expect the turning point in lithium prices may be earlier, at this year end or the beginning of 2023 when China's EV sales start to soften. Below are the most commonly discussed questions related to lithium and our answers provided.