Alcoa shares climbed sharply as LME aluminum prices reached their highest level in four years amid concerns over potential Chinese production cuts and continued Middle East supply disruptions. On May 26, LME three-month aluminum prices rose to USD 3,682/t, while the cash offer price reached USD 3,759/t, the highest level since March 2022. Alcoa shares increased from USD 71.38 on May 22 to USD 74.57 on May 26, gaining about 4.5%. Markets remain focused on possible output restrictions at Chinese smelters linked to energy and environmental inspections, while Middle East tensions continue to tighten global aluminum supply expectations.

This week, the domestic praseodymium-neodymium oxide market experienced narrow fluctuations, with prices remaining relatively stable overall while market sentiment saw minor shifts. Early in the week, firm pricing intentions from upstream separation plants and just-in-time procurement from large enterprises helped improve trading sentiment temporarily, prompting sellers to test higher offers and pushing prices slightly upward. However, persistent weakness in end-user demand and limited new orders from downstream magnetic material companies led to a generally pessimistic outlook on near-term consumption. As a result, downstream metal producers showed little enthusiasm for procurement, with price acceptance clearly constrained. When offers exceeded 720,000 RMB/ton, buying interest dropped significantly, and actual transactions faced resistance. Without sufficient momentum, prices eventually retreated to around 710,000 RMB/ton, forming a pattern of initial gains followed by a pullback. From a supply-demand perspective, some upstream separation plants are currently undergoing temporary suspensions or production cuts due to environmental inspections or maintenance, leading to a certain degree of supply contraction that provides underlying support for prices. Meanwhile, downstream demand remains weak, with no notable improvement in end-user consumption, leaving the market without strong positive catalysts. Overall, the market is characterized by weakness on both the supply and demand sides, with intense game-playing between upstream and downstream participants. Sellers show limited willingness to concede on prices, while buyers maintain a cautious wait-and-see approach, with actual transactions primarily driven by essential needs. In the short term, the praseodymium-neodymium oxide market is expected to continue in this stalemate, with ongoing tussling between the two sides and prices likely to move within a narrow range, with limited room for significant upward or downward movement.

Recently, the engineering construction acceptance inspection website published the environmental protection acceptance inspection for the "Annual 100,000-ton Spent Lithium Battery Recycling, Dismantling, and 20,000-ton Spent Lithium Iron Phosphate Powder Recycling Comprehensive Utilization Project" undertaken by a new energy technology company in Hunan, indicating the project is about to enter the production phase. The project will involve renovating an existing 2,000-ton lithium iron phosphate production line, replacing raw materials, auxiliary materials, and production equipment, and adding new equipment. Using 20,000 tons of spent lithium iron phosphate powder as the primary raw material.

On March 20, a company from Fujian specializing in hydrogen energy materials announced the public notice for the environmental protection acceptance inspection of the phased completion of its annual 1,500-ton high-end fluoropolymer project. The details of the project are as follows: The scope of this phased acceptance inspection covers a 100 t/a perfluorosulfonic acid resin production line and its supporting environmental protection facilities; the scale of the phased acceptance inspection is 100 t/a of perfluorosulfonic acid resin.

SMM March 13: This week, China’s domestic tungsten market exhibited high-level oscillations with intensified supply-demand competition. Multiple mines put products up for auction during the week, but transactions were bleak.As of March 13, tungsten prices remained largely stable, yet market sentiment became extremely divided.

Overall, cost support remains, but has not yet formed strong upward momentum, combined with aluminum enterprises' strong push for lower prices, aluminum fluoride prices in March are expected to be mainly stable with a slight weakening trend.

[SMM News] Approved by the CPC Central Committee and the State Council, and in accordance with the spirit of the meeting of the Leading Group for the 20th Central Ecological and Environmental Protection Inspection Work, the Fifth Central Ecological and Environmental Protection Inspection Team recently stationed in the Ningxia Hui Autonomous Region to carry out ecological and environmental protection inspections; the inspection will last for one month (from May 28 to June 28, 2025). A large secondary lead smelter in north-west China, which had originally planned to resume production in early June, has now postponed its resumption.

[SMM News] Recently, a large secondary lead smelter in east China resumed production. However, due to ongoing environmental protection inspections in the region, the company's production remains unstable at present. The specific impact still needs to be observed.

[SMM Flash News] Recently, a large secondary lead smelter in east China resumed production. However, due to ongoing environmental protection inspections in the local area, the company's production remains unstable at present. The specific impact still needs to be observed.

The 2,000m³ blast furnace of Xuanhua Steel has been dismantled! The Zhangjiakou City government has announced the completion of rectification tasks for the second round of central ecological and environmental protection inspections. The issues identified during the inspection, including the inadequate implementation of capacity replacement at Xuanhua Steel Co., Ltd., insufficient sludge harmless treatment capacity, the inefficient working mechanism for the construction of the "Two Zones for the Capital," the untimely completion of protection and restoration tasks for Yangyuan Wetland and Yuxian Huliu River Wetland, and the desertification phenomenon in Guyuan Lightning River Wetland, have all been rectified and passed the acceptance process. They are now proposed for closure according to the procedures. In accordance with the requirements of the "Central Ecological and Environmental Protection Inspection Rectification Work Measures" and the "Hebei Province Ecological and Environmental Protection Inspection Rectification Work Measures," the rectification status of these issues is hereby announced. The announcement period is from April 23, 2025, to May 8, 2025.