►New Advances in Magnesium Materials and Processes ►Development and Application of New-Type Low-Cost, High-Strength, Corrosion-Resistant Magnesium Alloys ►Stainless Magnesium Technology: R&D Progress from Alloy Materials to Semi-Solid Processes, R&D and Application of Stainless Magnesium Alloys ►Hefei • Great “Magnesium” Chaohu — Building a First-Class Magnesium Industry Ecosystem in China ►R&D Progress and Current Industrialisation Status of Magnesium-Based Materials and Products at Baowu Magnesium ►Haitian Magnesium Alloy Injection Molding Technology and Market Outlook ►Magnesium from an International Perspective: The Transformation from a Cost-Driven Bulk Commodity to a Strategic Engineering Material ►: Focusing on the New Cycle of Supply and Demand for Magnesium Metal and Downstream Applications — Outlook for the Magnesium Market in 2026

》Check SMM metal quotes, data, and market analysis 》Subscribe to view historical price trends of SMM metal spot cargo This week (June 9-13), the weekly average price range of Yangshan copper premiums B/L transactions was US$49.6-62.4/mt, with QP July, and the average price was US$62.4/mt, down US$27.85/mt WoW. The price range of warrants was US$32.8-47.2/mt, with QP June, and the average price was US$40/mt, down US$31.5/mt WoW, QP June. The EQ copper CIF B/L price was US$6.4-18.8/mt, with an average price of US$12.6/mt, down US$27.15/mt WoW, QP July. As of June 13, the SHFE/LME copper price ratio for the SHFE copper 2506 contract was 8.1659, with an import profit margin of around -820 yuan/mt. As of Friday, LME copper 3M-Jun was in backwardation of US$83.51/mt; the spread between the June date and July date swap fees was approximately US$40.11/mt backwardation. Currently, the firm offer price for high-quality ER copper warrants is US$47/mt, while the mainstream pyrometallurgy and domestic warrants are priced at US$30-40/mt. SX-EW spot cargo is hard to find. High-quality copper B/L spot cargo is hard to find, while the mainstream pyrometallurgy and domestic warrants are priced at around US$30-55/mt, and SX-EW spot cargo is hard to find. The CIF B/L price for EQ copper ranges from US$4/mt to US$18/mt, with an average price of US$11/mt. Since last Friday, the SHFE/LME price ratio has declined significantly, resulting in a loss of approximately 1,500 yuan/mt for spot imports against the SHFE copper 2506 contract. The sharp decrease in active imports also indicates the emergence of an export profit window. According to SMM, the planned export volume (sum of exports to bonded areas and to LME) from domestic smelters in this round is approximately 50,000 mt. Traders are also taking the opportunity to actively purchase at low prices from domestic smelters, leading to a significant decline in offshore US dollar copper premiums, particularly for domestic warrants in bonded areas and B/L for domestic brands arriving at the port. As of this week, the spot market has been sluggish. The high backwardation structure and low premium environment for LME copper have resulted in low willingness to trade among both buyers and sellers, with only a few traders making small transactions to fill long-term contract gaps. Looking ahead to next week, SMM maintains its unchanged market outlook. Both Yangshan copper warrant and B/L premiums are expected to remain difficult to recover. The LME backwardation structure is anticipated to continue expanding upwards, with the SHFE/LME price ratio unlikely to recover. Market activity is expected to remain low, and Yangshan copper premiums are projected to continue operating at low levels. According to the SMM survey, as of Thursday (June 12), copper inventories in domestic bonded areas increased by 1,700 mt from the previous period (June 5) to 59,700 mt. Among them, bonded copper inventories in Shanghai increased by 0.17 mt to 53,700 mt, while bonded copper inventories in Guangdong remained unchanged from the previous period. The main reason for the increase in bonded area inventories this week was the slow customs clearance of imported B/Ls arriving at the port. Since last Friday, import losses have widened significantly, Yangshan copper premiums have declined sharply, and traders' willingness to import has decreased. Some of the B/Ls for arriving shipments have been converted into bonded warehouse inventory. Meanwhile, domestic smelters plan to increase their exports, leading to an increase in bonded area inventory. Looking ahead, it is expected that the export of bonded cargo from domestic smelters will arrive gradually, and bonded warehouse inventory is expected to continue to increase. 》View the SMM Metal Industry Chain Database

In the morning session, SHFE copper futures fluctuated rangebound. After opening above 78,960 yuan/mt, prices oscillated repeatedly between 78,960 and 79,030 yuan/mt. Prices fell during the day, with the price spread between futures contracts for consecutive months (BACK) widening to fluctuate between 170 and 180 yuan/mt. The import loss for SHFE copper in the current month also narrowed to within 1,000 yuan/mt. According to SMM data, all the export shipments from domestic smelters arrived at bonded warehouses in the early stage, and inventory buildup in the bonded area reached 1,700 mt this week, bringing the total to 59,700 mt.

In the morning session, SHFE copper futures fluctuated rangebound. After initially rising above 78,960 yuan/mt, prices began to oscillate repeatedly between 78,960 and 79,030 yuan/mt. During the day, prices fell, and the price spread between futures contracts for the next month (BACK) widened to fluctuate between 170 and 180 yuan/mt. The import loss for SHFE copper in the current month also narrowed to within 1,000 yuan/mt. According to SMM data, all the export shipments from domestic smelters had arrived at bonded warehouses in the earlier period, and this week, inventory buildup in the bonded area increased by 1,700 mt to 59,700 mt.

》View SMM metal quotes, data, and market analysis 》Subscribe to view historical price trends of SMM metal spot cargo This week (June 3-6), the weekly average price range of Yangshan copper premiums B/L transactions was $74-106.5/mt, with QP June, and the average price was $90.25/mt, down $14.75/mt WoW. The price range of warrants was $66.5-76.5/mt, with QP June, and the average price was $71.5/mt, down $18.7/mt WoW, QP June. The EQ copper CIF B/L price was $32.5-47/mt, with an average price of $39.75/mt, down $29.25/mt WoW, QP June. As of May 30, the SHFE/LME copper price ratio for the SHFE copper 2506 contract was 8.0898, and the import profit margin was around -1,500 yuan/mt. As of Friday, LME copper 3M-Jun was in backwardation of $80.91/mt; the spread between the June date and July date swap fees was approximately BACK $31/mt. Currently, the actual price of high-quality ER copper warrants is $47/mt, mainstream pyrometallurgy and domestic warrants are priced at $30-40/mt, and SX-EW spot cargo is hard to find. High-quality copper B/L spot cargo is hard to find, mainstream pyrometallurgy and domestic warrants are priced at around $50-80/mt, and SX-EW spot cargo is hard to find. CIF B/L EQ copper is priced at $8-20/mt, with an average price of $14/mt. The offshore market experienced significant fluctuations this week. As the LME-COMEX price spread widened to around $1,300/mt at the beginning of the week, CME registered B/L and Australian copper arriving in mid-to-early June were swept up, with transactions exceeding $200 at the beginning of the week. However, the SHFE/LME price ratio continued to decline, and domestic warrant and B/L quotes fell, making it difficult to secure transactions. As a result, there were significant differences between buyers and sellers during the week, and market transaction prices diverged widely. Due to large traders hoarding inventories in the global market, the LME backwardation structure rose to $80/mt at the end of the week, and the destocking process in Asia continued. Overall, supplies began to concentrate and move towards bonded areas. Looking ahead to next week, LME inventories are expected to continue declining before the June date, as there is limited room for the copper price ratio to recover amid rising copper prices. Under the combined impact of onshore B/L and export supplies, Yangshan copper premiums for both warrants and B/L are unlikely to rebound, and the market is expected to remain divided in the short term. The LME backwardation structure is expected to continue expanding upwards, and the holding costs for suppliers are expected to increase. The market is expected to rebound when domestic inventories start to decline again. Yangshan copper premiums are expected to continue declining slightly. According to the SMM survey, as of Thursday (June 5), domestic bonded area copper inventories rose by 3,800 mt from the previous period (May 29) to 58,000 mt. Among them, Shanghai bonded area inventories rose by 0.25 mt to 52,000 mt, and Guangdong bonded area inventories rose by 1,300 mt to 6,000 mt. The main reason for the rebound in bonded area inventory this week was the decrease in active customs clearance imports caused by the deterioration of the SHFE/LME price ratio. In terms of supply, LME canceled B/Ls continued to arrive at ports. Additionally, with the opening of the export window, domestic smelters successively formulated new export plans, leading to a temporary halt in the overall inventory drawdown. Looking ahead, it is expected that some domestic smelters will export to bonded sources next week. Coupled with the slow arrival and customs clearance of imported B/Ls, it is anticipated that bonded warehouse inventory will continue to increase. 》View the SMM Metal Industry Chain Database

The sharp fluctuations in nickel prices in May were mainly due to macro disturbances. After excluding abnormal disturbances in the candlestick, SHFE nickel futures prices mainly showed a slow decline under the dual pressures of "weak fundamentals" and "high inventory".