Macroeconomics
1. [China Warehousing Index] China Federation of Logistics & Purchasing: Driven by the concentrated launch of major national infrastructure projects and a simultaneous recovery in manufacturing supply and demand, warehousing business demand has improved significantly, pushing the index back into expansion territory. In June, the China Warehousing Index stood at 50.2%, up 0.6 percentage points from the previous month.
2. [Eurozone PPI] The Eurozone Producer Price Index (PPI) rose 0.2% month-on-month in May, matching expectations; the previous month's figure was revised from 0.6% to 0.7%.
Non-ferrous Metals
1. [Copper] BHP has reached a strategic asset-for-equity agreement with Canada’s Faraday Copper Corp. Under the terms announced on July 3, BHP will transfer its San Manuel property in Arizona, USA, to Faraday in exchange for a 30% equity stake in the company. Combined with shares acquired through a private placement in March, BHP’s total shareholding is expected to rise to approximately 32.5%, alongside the acquisition of shareholder rights and offtake rights. Faraday’s core asset is the adjacent Copper Creek copper project, and the company is working to integrate the two assets into a major copper development hub.
2. [Aluminum] Chinalco: Spot prices for aluminum ingots (AL99.70) across various regions on July 6 were as follows: East China market quoted at 22,840 RMB/ton; South China market at 22,890 RMB/ton; Southwest China market at 22,830 RMB/ton; and Central China market at 22,750 RMB/ton. Compared to prices on July 3, these represent increases of 80 RMB/ton, 60 RMB/ton, and 90 RMB/ton, respectively.
3. [Aluminum] Statistics show that on July 6, electrolytic aluminum ingot inventories in major domestic consumption hubs totaled 1.098 million tonnes, a decrease of 32,000 tonnes from the previous Thursday and a decrease of 67,000 tonnes from the previous Monday.
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
