Citibank upgraded its rating for Tianqi Lithium’s Hong Kong shares to Buy, with a target price of HK$42; and upgraded its rating for Tianqi Lithium’s A shares to Buy, with a target price of RMB 48.

Analysts at US Citibank see the 1.2 percent quarterly rate of the U.S. labor cost index in the first quarter as a sign that there has been little relief from the underlying driver of excessive inflation, a tight labor market that pushes up labor costs and then passes them on to higher prices.

Citibank issued a report saying that the recent European and American banking crises have highlighted that China is a relatively safe haven this year.

Although Singapore's iron ore swap has reached the $110/mt mark, Citibank expects iron ore to resume its decline and advises traders to sell during the rebound.

Guests at the LME Week cast their votes on which metal has the most upside potential for 2024 and below are the results:

SHANGHAI, Jun 16 (SMM) – SMM data showed pure nickel stocks in Shanghai bonded zone were 4,800 mt (3,130 mt of nickel plates and 1,670 mt of nickel briquettes) as of June 16, up 300 mt on a weekly basis.