SMM

It is reported that the London Metal Exchange (LME) is considering setting position limits to curb excessive open interest. Market participants have engaged in informal discussions with the LME to determine appropriate levels of open interest limits. The LME has indicated that it may restrict traders from holding positions exceeding total inventory in near-month contracts. According to a policy statement issued earlier this year by the UK Financial Conduct Authority (FCA), starting from July 2026, the responsibility for setting open interest limits in the UK commodity markets will be transferred from the FCA to individual exchanges. Sources familiar with the matter have revealed that the LME may formally propose open interest limits at some point in the future.

On May 15, the first batch of Grade A copper was successfully produced from the primary electrodeposition copper removal tank at the Yunnan Zhongse Electrolysis Plant. This achievement marks the full integration of the electrodeposition copper removal process at Yunnan Zhongse, injecting strong momentum into the high-quality construction of the project.

Vietnam-based Phuc Sang Minh Gas has secured a liquefied natural gas (LNG) satellite station project in Indonesia, marking a key milestone in its regional expansion strategy. This achievement underscores Indonesia’s role as a vital energy market in Southeast Asia and strengthens the company’s presence in the region’s oil and gas sector. With a strong track record in delivering LNG, CNG, LPG, and EPC services, as well as successful projects in Cambodia and Myanmar, the company views the award as a testament to its technical expertise and the trust it has earned from regional partners.

Phuc Sang Minh Gas, a Vietnam-based gas company, has successfully secured a Liquefied Natural Gas (LNG) satellite station project in Indonesia, marking a significant milestone in its regional expansion strategy. This project underscores Indonesia's position as a key energy market in Southeast Asia, while also solidifying Phuc Sang Minh Gas's standing in the region's oil and gas industry. The company boasts extensive experience in LNG, Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG), as well as Engineering, Procurement, and Construction (EPC) services, and has successfully implemented multiple projects in Cambodia and Myanmar. Winning this bid not only demonstrates the company's technical prowess but also reflects the high level of trust placed in it by regional partners.

[SMM: Industrial demand and ETF investment demand may support silver prices to fluctuate upward in the medium and long-term] SMM silver analyst Wang Huilin discussed the topic of "Evolution of Silver Supply and Demand and Price Outlook". According to SMM's estimates, with the construction of new silver recycling capacity, the estimated annual production of recycled silver in 2025 has exceeded 5,000 mt. Despite the current technological trend towards silver reduction and substitution, the silver paste consumption per GW of mainstream Topcon solar cells remains at 11-13 mt/GW. Therefore, the estimated silver consumption from domestic solar cell production in 2025 exceeds 6,000 mt. Industrial demand for silver is gradually increasing, with global industrial demand for silver accounting for approximately 62% of total demand in 2025.

April is traditionally a peak season, and the overall demand for galvanizing was robust. Due to issues such as tariffs, there was a certain degree of early release of future demand. The overall operating rates were good, with operating rates in north and east China increasing, while those in south China decreasing.

[SMM News] April is traditionally a peak season, with robust overall demand for galvanising. Due to issues such as tariffs, there has been an early release of future demand. Overall, operating rates have been good, with operating rates in north and east China increasing, while those in south China decreasing.

The cooperation will focus on developing and implementing technologies for processing rare and rare-earth metals, including raw material technologies for obtaining high-purity metals and their compounds and alloys, as well as material technologies for applications in electronics, chemical, and nuclear industries. Both countries are committed to scaling these technologies up to pilot production levels and further integrating them into their respective industrial sectors. The State Research and Design Institute of Rare Metals Industry of Russia (a scientific research and design institution under the State Atomic Energy Corporation ROSATOM) and the Indian Council of Scientific and Industrial Research signed a joint statement on cooperation in the field of rare and rare earth metals. The statement aims to substantially enhance the level of cooperation and exchanges between Russian and Indian scientists in the academic and scientific research fields.