In light of the recent sharp decline in copper prices, SMM reports a noticeable deceleration in the global copper scrap trading trend. The rapid price correction has widened the bid-ask spread significantly, creating a sharp divergence in pricing expectations between market participants. Taking Bare Bright Copper as an example, overseas holders, seeking to hedge against the drop in absolute prices, have hiked their pricing coefficients to 99-99.5% of LME, a 1-percentage-point jump from 98-98.5% last week. Conversely, Chinese importers, constrained by domestic margin pressures, remain firm at the previous 98.5% coefficient. This "pricing mismatch" has hindered any consensus on coefficients, resulting in stagnant transaction activity across the board.

[SMM NPI Market Transaction Update] SMM reported on June 23 that according to market sources, a stainless steel mill in South China concluded a transaction for high-grade NPI today, with a transaction price of 910 yuan/mtu (on board including tax, Ni≥11%), from Indonesia. The total transaction volume was tens of thousands of mt, with delivery scheduled for mid-to-late July.

At the 2025 SMM (2nd) Global Renewable Metal Industry Chain Forum - Secondary Copper and Aluminum Forum, hosted by SMM Information & Technology Co., Ltd., Zhang Xiaoyao, the project leader of SMM Recycling, shared insights on the topic of "Driving Business Opportunities and Reducing Operating Costs: SMM Serving the Global Secondary Copper and Aluminum Metals Market."

[SMM Rebar Production Schedule: Maintenance Plus Shift to Product Variety Materials, Rebar Production Reduction Hits Record High This Year] The planned rebar production in June was 8.5197 million mt, a decrease of 820,600 mt compared to the actual production in May, representing an 8.79% decline; the planned wire rod production in June was 3.4809 million mt, a decrease of 208,500 mt compared to the actual production in May, representing a 5.65% decline.

This week, Indonesian nickel ore prices saw an increase. NPI prices still faces pressure

SMM Statistics: On June 5, SMM reported that the aluminum inventory in the Shanghai Bonded Zone was 105,300 mt, and the inventory in the Guangdong Bonded Zone was 13,500 mt, totaling 118,800 mt. The inventory increased by 3,100 mt WoW.

[Alumina Port Inventory] According to SMM statistics on June 5, China's port alumina inventory totaled 57,000 mt, an increase of 32,000 mt compared to the previous week.

SMM June 5 News: According to SMM, Shandong Humon Smelting Co., Ltd. has launched an open tender for the sale of high-purity tellurium scraps starting today. Specifically, according to official information, the quantity is 2,500 kg, packaged in iron drums. The delivery method is self pick-up by the buyer, with the buyer responsible for freight costs. The buyer is required to pick up the goods before June 24, 2025. The delivery location is at Shandong Humon Smelting Co., Ltd. (No. 11 Jinzheng Street, Shuidao Town, Muping District, Yantai City, Shandong Province).

[SMM NPI Market Transaction Flash] SMM reported on June 5 that according to market sources, a stainless steel mill in South China purchased high-grade NPI today at a transaction price of 940 yuan/mtu (CIF, including tax, with 10%≤Ni≤12%), Indonesian ore. The total transaction volume was tens of thousands of mt, with delivery scheduled for mid-to-late June.

According to SMM statistics, as of June 5, the inventory of primary aluminum ingots in major domestic consumption areas stood at 504,000 mt, a decrease of 15,000 mt from the beginning of the week and a decline of 7,000 mt WoW from Thursday. After the Dragon Boat Festival holiday, the overall inventory buildup situation in China remained manageable, and destocking resumed mid-week, highlighting the continued resilience of domestic consumption in early June and the still relatively low supply of aluminum ingots. The inventory buildup during the holiday was particularly pronounced in the Gongyi region, mainly due to the short-term intensive arrivals caused by customers' concentrated shipments at month-end. However, the volume of goods in transit by rail has returned to the level of the second half of May after the holiday, slightly reducing the pressure of arrivals. The Foshan region maintained a status quo of weak supply and demand for aluminum ingots, with a slight and stable decline observed after the holiday. The Wuxi region experienced a slight inventory buildup during the holiday, but it is understood that subsequent shipment plans from aluminum smelters remain relatively low, and the subsequent arrivals are expected to remain at a relatively tight level, with significant destocking observed mid-week again. SMM expects that the overall inventory of aluminum ingots in China will continue to maintain a destocking trend and is likely to break below the 500,000 mt threshold in the near future.