nickel spot price

[SMM Magnesium Morning Meeting Summary: Magnesium Prices Hover Near the Bottom, with the Tug-of-War Between Cost Support and Weak Demand Continuing] Currently, the magnesium ingot market is fluctuating rangebound. Market supply remains low, and purchasing enthusiasm is gradually declining. Overall, under the combined influence of cost support and weak demand, it is expected that magnesium ingot prices will maintain a stable operation pattern in the short term.

On June 5, the 2025 Indonesia Mining Conference & Critical Metals Summit, hosted by SMM Information & Technology Co., Ltd. (SMM), supported by the Indonesian Ministry of Foreign Affairs as a government supporter, and co-organized by the Association of Indonesian Nickel and Bauxite Ore Producers (APNI), Jakarta Futures Exchange, and China Coal Resource, successfully concluded at the Pullman Jakarta Central Park Hotel in Indonesia.

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A company in Hunan successfully closed a deal for 1,000 mt of bismuth concentrate [[SMM Bismuth Market Tracking Report]]

Copper Field Trip

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[US Fed Interest Rate Cut Expectations Weaken, US Dollar Index Rises, Copper Prices Open Lower] Macro-wise, US Fed's Goolsbee reiterated support for further interest rate cuts and expressed openness to acting at a slower pace. As the market expects fewer interest rate cuts by the US Fed next year, the US dollar index has rebounded, putting pressure on copper prices.

On September 23, BYD announced the simultaneous market launch of two new compact SUVs: the Sealion 05 DM-i and the second-generation Song Pro DM-i.

According to SMM statistics, China's production of ternary cathode materials in H1 2024 was 330,000 mt, up 13.8% YoY from 290,000 mt in H1 2023, with a capacity utilisation rate of around 40%.

The "January Red" of the auto market has seen a sharp drop in lithium prices, reducing costs for car companies. Despite fierce competition, BYD continues to lead among new energy car companies. Other new forces such as NIO, Leap Motor, and Xpeng are also performing well. The car price war, which started in 2023, is continuing after the Chinese New Year holiday, with companies like Tesla, Lynk & Co, and Volkswagen offering discounts. The decline in lithium prices has provided space for overall cost reductions for car companies. As the penetration rate of new energy vehicles in the market increases, the traditional fuel car market is shrinking, leading to more intense price competition. The China Passenger Car Association expects the price war to continue throughout the year.