Yujin Technology announced on July 1 that it has confirmed the supply of precision presses to be used in a semi-solid battery pilot production line being built in South Korea. The line is related to a project by a U.S. battery company that is working with global automakers to commercialize next-generation batteries.

SMM, July 1 – The most-traded SHFE lead 2608 contract opened at 15,975 yuan/mt intraday. It drifted lower at the beginning of the session, dipped to 15,765 yuan/mt, broke below the support level and slightly recovered. During the session, it rebounded to the 15,810-15,870 yuan/mt range and moved sideways, edged up near the close, and finally settled at 15,875 yuan/mt, posting a bearish candlestick, down 120 yuan/mt, or 0.75%. From the sentiment perspective, today's session was dominated by a concentrated influx of additional bearish positions that drove the decline, while the bulls' buying power was weak. Only a small amount of short-covering toward the close led to a slight recovery in prices. Bears held absolute dominance throughout the day. On the macro front, expectations for US Fed interest rate hikes continued to pressure lead prices. Markets outside China entered the traditional Q2 consumption off-season, with pronounced bearish factors on the demand side. Even though LME inventories saw mild destocking in June, it was unable to reverse the weak pattern. In China, production cuts at secondary lead smelters meant the supply-side contraction could not offset the weakness in demand, confirming a clear supply-demand weakness pattern in the industry. Downstream enterprises showed strong wait-and-see sentiment, with purchases mostly meeting rigid demand. In the short term, lead prices are expected to continue in the doldrums. Data source statement: Except for publicly available data, all other data are processed by SMM based on public information, market communication, and proprietary SMM internal database models, and are for reference only. They do not constitute any decision-making advice.

[Shagang July 2026 HR Price Adjustment Information] On July 1, Shagang Steel Mill adjusted its HR EXW prices. This adjustment is based on the "Shagang June 2026 HR Price Adjustment Information Released on June 1, 2026." The specific adjustments are as follows: ① HRC Q235B price remains unchanged from the previous period. The current EXW price for Q235B 5.75*1500*C HRC is 3,700 yuan/mt. The above adjustments are all tax-inclusive, effective from July 1, 2026. [SMM Steel]

[July Refined Zinc Production Continues to Decline, Watch Actual Maintenance at Large Smelters] According to SMM statistics, in June 2026, SMM China refined zinc production fell by around 18,000 mt, or over 3.2%, MoM and 3.8% YoY. Cumulative production from January to June increased by over 4% YoY, falling short of expectations...

[SMM Daily Commentary: Rate Hike Expectations Weigh on Silver Prices, Consolidation; Spot Silver Parity Transactions Cautious] SMM reported on July 1st: The US Fed's hawkish remarks pushed up rate hike expectations, and silver prices pulled back after a rapid rise. At the beginning of the month, spot silver transactions were sluggish, with downstream participants mainly in a wait-and-see mood. Quotations remained at parity to a small premium.

CopperTech Metals has postponed its planned US initial public offering (IPO), citing increased volatility across the global copper mining equity sector. The company had planned to raise approximately US$423.5 million by offering 23.5 million shares, targeting a valuation of up to US$3.57 billion. According to the company, the decision was made after carefully assessing current market conditions and heightened volatility in copper-related equities. Uncertainty surrounding the upcoming US Section 232 copper investigation, shifting supply expectations and broader capital market volatility have weighed on investor sentiment. CopperTech, established by Vedanta Resources, owns and operates Konkola Copper Mines (KCM) in Zambia.