SMM

According to the latest data from China Customs, in August 2024, China's imports of hydrometallurgy intermediate products were 122,272 mt, down 12% MoM, up 43% YoY. By country, Indonesia's hydrometallurgy intermediate products continued to ramp up production in August, but due to delayed shipments arriving in July, there was a slight decrease in imports from Indonesia. However, there was no significant reduction or suspension in local intermediate product production. Imports from Papua New Guinea increased MoM, mainly due to shipping schedule issues, with shipments originally expected last month being delayed. The outlook remains largely unchanged from last month. It is expected that imports of hydrometallurgy intermediate products in September will remain stable with slight growth.