During the week of June 12-18, the operating rate of enamelled wire industry machines rebounded WoW...

BHP is reportedly advancing plans to sell approximately US$1.5 billion worth of power transmission assets in Chile, including around 1,000 km of transmission lines supplying electricity to its Escondida, Spence and Cerro Colorado copper operations. According to media reports, the transaction could be completed as early as this year, although the final structure and potential buyers are still under review. The move as part of BHP’s broader strategy to streamline its portfolio and focus on core commodities such as copper. The company has continued to expand its copper exposure through projects including the Vicuña copper district development in Argentina, driven by growing demand linked to electrification and the energy transition.

[Destocking Logic Continues to Materialize, Macro Pressure Caps Aluminum Price Upside] SMM maintains its forecast that inventory will fall to around 1.28 million mt by late June, and is expected to further approach 1.2 million mt by end‑June/early July, providing some support for aluminum prices. However, China’s high inventory pressure remains relatively evident, and with the current bearish macro sentiment dominating the market, domestic aluminum prices will mainly fluctuate in consolidation in the short term.

Tianci Materials announced that Phase II of its project for 30,000 tpy lithium hexafluorophosphate (LiPF6), 6,000 tpy high-purity lithium fluoride and integrated supporting facilities has completed construction, equipment installation and commissioning. The trial production plan has passed expert review and trial operations are expected to commence shortly. The Phase II project is designed to add 15,000 tpy of LiPF6 capacity. Upon commissioning, the company's total LiPF6 production capacity will increase to 52,000 tpy.

[SMM Chrome Daily Review: Ore Prices Continue to Fall, Market Expectations Bearish] June 17, 2026 – The ferrochrome and chrome ore markets fluctuated slightly...

SMM June 17: [SMM] On June 17, SMM A00 aluminum (Foshan) stood at 23,840, up 50, a discount of 90 to the front-month contract, flat (unit: yuan/mt) Today, futures edged up slightly, while spot aluminum in South China turned from strong to weak. Tight arrivals and significant destocking provided bottom support for holders. In the morning, they continued the pace of holding prices firm and raising them; however, the spot-futures price spread remained at a relatively high level. As the short holiday approached, risk-averse sentiment to liquidate gradually intensified, boosting selling enthusiasm and further easing circulation. Mainstream quotations were at premiums of 0 to +10 yuan/mt, and in practice, some small discounts had already emerged. Demand side, downstream rush-to-buy restocking demand was moderate, providing some absorption; traders' willingness to enter the market turned lower, only accepting relatively low-priced cargoes, with limited overall replenishment momentum. The momentum mismatched between the two sides, making transactions less than ideal. Spot transaction prices concentrated at premiums of -110 to -70 yuan/mt against the SHFE aluminum 2607 contract.

[SMM Coking Coal and Coke Daily Review] On the news front, leading coke enterprises have initiated the eighth round of coke price increase, to be implemented at midnight on June 20. Supply side, coke price increases hardly offset the rising raw material costs. Most coke enterprises are loss-making with low production willingness. Loss-making enterprises continue to impose production restrictions, leading to reduced coke output. Currently, coke enterprises are shipping smoothly, and their coke inventories remain persistently low. Demand side, steel mills' blast furnace operations are stable and utilization rates stay high. Their coke inventories are continuously destocking, and rigid demand support is ample.

SMM June 17: In early trading, the SHFE aluminum 2606 contract fluctuated upward, with its center running higher than that at the same time yesterday. However, as aluminum prices held near recent lows, buyers’ purchasing sentiment remained relatively active, driving sellers’ quotes and transaction prices to strengthen further. Today, influenced by the rise in aluminum prices, some sellers’ shipment sentiment edged up slightly from yesterday. The mainstream spot transaction price was at a discount of 60-80 yuan/mt against the SHFE aluminum 2407 contract. Today, the east China selling sentiment index was 2.91, up 0.08 from yesterday; the purchasing sentiment index was 3.06, unchanged from yesterday. Futures prices held at monthly lows. Today, in the central China market, inventory-holding traders showed strong sentiment to hold prices firm and hold back from selling, tending to quickly narrow premiums to capture price spreads. However, downstream processing enterprises had low willingness to purchase at high prices. The market saw a tug-of-war between holding prices firm and pushing for lower prices, with premiums showing a downward trend. Ultimately, the actual transaction price range in central China centered around a discount of 100-130 yuan/mt against the SHFE aluminum 2407 contract. Today, the central China selling sentiment index was 2.92, up 0.01 from yesterday; the purchasing sentiment index was 2.21, down 0.01 from yesterday. On the inventory front, the aluminum ingot inventory in mainstream consumption regions fell by 1.65 from yesterday, with all three regions showing destocking.

According to China Customs data, from January to April 2026, India's imports of can stock (highly correlated with HS 76061220) from China rose from 4,587 mt to 6,923 mt, while imports of finished cans (HS 76129010) also increased from 43 mt to 467 mt (equivalent to approximately 38.9 million cans) over the same period. Starting in May, China's can stock exports to India are expected to further expand, forming a phased export peak.

SMM, June 17 – During the day, the most-traded SHFE lead 2607 contract opened at 16,415 yuan/mt, moved higher in early session volatility to reach a high of 16,490 yuan/mt, and later moved sideways within the range of 16,435–16,485 yuan/mt before finally settling at 16,470 yuan/mt, recording a three-day winning streak, up 160 yuan/mt, a gain of 0.98%. The Dragon Boat Festival holiday was approaching, downstream processing enterprises were gradually arranging shutdowns for the break, and spot trade sentiment further cooled. Supply-side disruptions continued to emerge, with secondary lead smelters adding maintenance capacity; this week also saw some primary lead smelters resume production, leaving overall supply highly uncertain. The current supply-demand fundamentals, with both sides weakening, capped the rise in lead prices. Data Source Statement: Except for publicly available information, all other data are based on publicly available information and market communication, processed by SMM using its internal database models, and are for reference only; they do not constitute any decision-making advice.