Chilean copper miner Antofagasta said production has resumed at its Los Pelambres copper mine, north of Santiago, after it was halted by heavy rains and a power outage. The London-listed miner on Friday maintained its full-year production expectations despite the brief disruption, saying there was no significant damage to equipment or critical infrastructure.

Namibia Critical Metals (NCM), listed on the Toronto Venture Exchange, said that the Joint Management Committee (JMC) responsible for the Lofdal heavy rare earth project in Namibia has approved the next stage of the definitive feasibility study, including an additional allocation of up to CAD 11 million in project funds to advance the completion of the study.

GO Silicon Steel Price Dynamics Shanghai B23R085 grade: 12,200-12,200 yuan/mt Wuhan 23RK085 grade: 11,600-11,600 yuan/mt This week, China's domestic grain-oriented silicon steel market showed overall regional divergence. Shanghai spot prices remained stable, while Wuhan market quotes weakened and declined. Steel mills held a strong intention to hold prices firm, raising the base price for GO silicon steel by 50 yuan/mt in August, with no significant change in ex-works policies. The supply-demand situation stayed generally stable. Steel mill production pace was steady, resource supply was orderly, and market circulation inventory remained within a reasonable range, though regional inventory digestion speed varied. Downstream end-users such as transformer enterprises were mainly purchasing as needed and making just-in-time procurement. The overall transaction pace was moderate, and market trading sentiment was cautious and rational. Shanghai traders insisted on stabilizing prices for shipments and adopted a wait-and-see attitude, while Wuhan merchants faced increasing pressure to sell, leading to a rise in small price concessions. Looking at the overall market fundamentals, bullish and bearish factors currently check each other. The cost side provided bottom support, coupled with the underpinning effect of steel mill pricing policies, limiting room for a deep decline. However, the demand side showed no clear improvement. Overall, the GO silicon steel market is expected to consolidate on a subdued note next week, with a slight downward bias. Some room for price reduction exists locally. The market remains dominated by just-in-time procurement and a wait-and-see approach to maintaining stability, making a one-sided price trend unlikely in the short term. Data Source Statement: Except for publicly available information, other data are derived from public information, market communication, and SMM's internal database models, processed by SMM. They are for reference only and do not constitute decision-making advice. Note: This article is original content belonging to this official account. For reprint, whitelisting, cooperation, and other requests, please contact us. Without permission, reproduction, modification, use, sale, transfer, display, translation, compilation, and dissemination of the above content, or disclosing it to or permitting its use by any third party in any other form, is prohibited. Otherwise, once discovered, Shanghai Metals Market will pursue legal liability for infringement, including but not limited to claiming contractual breach liability, restitution of unjust enrichment, and compensation for direct and indirect economic losses.

[SMM Analysis: June Aluminum Plate/Sheet, Strip Exports Hit New Monthly High for the Year; Transfer Order Recall and Potential Pullback Pressure in H2] In June 2026, China's exports of aluminum plate/sheet and strip reached 354,000 mt, up 10.6% MoM, setting a new monthly high for H1 2026. In H1, total exports amounted to 1.7891 million mt. By destination, Mexico topped the list with 45,300 mt, surging 46.4% MoM; US exports pulled back 29.2% MoM to 26,100 mt. By exporting province, Henan and Shandong together accounted for over 43%, continuing to lead the nation. In terms of product mix, exports of 0.2-0.28 mm aluminum alloy sheet (mainly can stock) reached 153,700 mt, accounting for 43.5%, continuing to dominate the export market. Notably, the production line of a leading North American rolling mill began to resume in June, and transfer orders have been gradually recalled. The high export activity driven by the order transfer effect in H1 is expected to face significant pullback pressure in H2.

According to the Department of Industry and Information Technology of the autonomous region, the Ministry of Industry and Information Technology (MIIT) recently released a list of smart PV typical cases. The "Honyuan New Materials Smart PV Typical Case" from Honyuan New Materials (Baotou) Co., Ltd. was successfully selected, making it the only selected project in the region. With "N-type entire industry chain + digital intelligence empowerment" at its core, the case builds a fully digital system across the chain of "smart production—data hub—scenario application—smart O&M," creating a smart PV ecosystem that integrates green manufacturing, smart energy, and intelligent services. It achieves a full life-cycle closed loop from product manufacturing to energy services, providing a replicable and scalable demonstration model for the digital, intelligent, and high-quality development of the industry. Reportedly, the selection of these smart PV typical cases was jointly organized by MIIT, together with the Ministry of Housing and Urban-Rural Development, the Ministry of Transport, the Ministry of Agriculture and Rural Affairs, and the National Energy Administration—five departments in total—aiming to identify a group of smart PV typical cases featuring advanced technology, mature models, remarkable results, and value for nationwide replication and promotion. These cases represent the advanced level in China's smart PV, PV+ESS integration, and green and low-carbon application fields. Going forward, the Department of Industry and Information Technology of the autonomous region will strengthen the promotion and dissemination of the typical cases, accelerate the application of smart PV technologies, promote the deep integration of energy technologies with artificial intelligence, new materials, and advanced manufacturing technologies, and support the autonomous region's PV industry in quality improvement and upgrading.

SMM Cobalt Morning Briefing: The cobalt industry chain was generally in the doldrums this week. Refined cobalt prices drifted lower, affected by import data exceeding expectations, the demand off-season, and downstream summer breaks. Sellers and buyers of cobalt intermediate products had a wide psychological price spread, making it difficult to advance transactions, and prices remained temporarily stable. Market inquiries and transactions for cobalt sulphate, cobalt chloride, and Co3O4 were sluggish, with downstream users mainly pushing for lower prices and making just-in-time procurement. Cobalt powder prices continued to hit bottom, while cobalt carbonate was also under pressure.