Over the past week, the international thermal coal market has shown a regionally divergent trend. Supported by expectations of lower Colombian coal exports, the European market, with supply tightening, saw thermal coal prices rise again. In contrast, the Asian market, due to high inventory levels in China and India and weak demand, experienced a continued decline in prices.

The mine-mouth coal price remained stable with slight adjustments, and demand showed no significant improvement. The overall coal price in production areas remained stable with minor adjustments. Recently, the demand from the cement and chemical industries has been strong, leading to an increase in the number of trucks queuing to load coal. Some coal mines saw price increases of 5-10 yuan, with production and sales generally balanced. As the power plant maintenance season approaches, procurement demand is limited, and some coal mines have average sales. It is expected that the thermal coal price will continue to fluctuate rangebound in the short term.

This week, the average price of SMM 8-12% high-grade nickel pig iron (NPI) is 968.8 yuan per nickel point (including tax, ex-factory), which is an increase of 12.1 yuan per nickel point compared to last week. Meanwhile, the Indonesian NPI FOB index rose by $1.8 per nickel point from last week, indicating a continuous upward trend in high-grade NPI prices this week.

[SMM Analysis: High-Grade NPI Prices Continue to Rise, Losses of Domestic Smelters Somewhat Eased] This week, the average price of SMM 8-12% high-grade NPI was 968.8 yuan/mtu (tax-included ex-factory price...

At the 2024 SMM (Third) NEV Supply Chain Expo and Drive System Three-Electricity Technology Forum hosted by Shanghai Metals Market (SMM), SMM Industry Research Department GM Ye Jianhua analyzed the 2024 copper and aluminum prices and market.

Looking at 2024, the strong supply and weak demand in the magnesium ingot market may last throughout the year, and magnesium prices may stablize after wide fluctuations in previous years.