SunSirs: Non-Ferrous Metal Products Industries Bulk Commodity Intelligence (July 10, 2026)

Macroeconomics

1. [Carbon Peak Action] The State Council has issued the "Action Plan for Carbon Peaking during the 15th Five-Year Plan Period." By 2030, China aims to reduce carbon dioxide emissions per unit of GDP by 17% compared to 2025 levels, raise the share of non-fossil energy consumption to 25%, and strive to increase the proportion of new energy vehicles (NEVs) in the total vehicle fleet to 30%. The Action Plan outlines five key tasks—such as accelerating the adjustment and optimization of the energy structure—and schedules major projects, including inter-provincial power mutual support and the clean substitution of coal consumption.

2. [Automotive] Latest data from the China Association of Automobile Manufacturers (CAAM) shows steady growth in the production, sales, and exports of new energy vehicles (NEVs) during the first half of this year. Specifically, NEV production and sales reached 7.438 million and 7.446 million units, respectively, marking year-on-year increases of 6.7% and 7.3%. In June, NEV sales accounted for nearly 60% of total new vehicle sales.

3. [US Initial Jobless Claims] US initial jobless claims fell by 2,000 to 215,000 last week—slightly below the market expectation of 218,000—remaining near historical lows. However, the number of continuing claims rose to 1.814 million, hitting a high not seen since March.

Non-ferrous Metals

1. [Lead] A secondary lead smelter in North China reported that heavy rains caused flooding in its city, resulting in current water and power outages. Production of reduced lead has been curtailed by approximately 100–150 tonnes per day; the specific timeline for resuming operations depends on the progress of government emergency repairs.

2. [Alumina] As of July 9, 2026, China's weekly operating alumina capacity stood at 95.70 million tonnes, with a weekly output of 1.849 million tonnes. Raw material inventories at electrolytic aluminum smelters totaled 3.915 million tonnes, while alumina producers held 150,000 tonnes in bagged inventory. Port inventories stood at 644,000 tonnes, and inventories at rail terminals or in transit amounted to 1.622 million tonnes. Total inventory reached 6.331 million tonnes, an increase of 25,000 tonnes from the previous period.

3. [Aluminum] Chinalco: Spot prices for aluminum ingots (AL99.70) across various regions on July 9 were as follows: East China market quoted at 22,950 RMB/ton (down 90 RMB/ton from July 7); South China market quoted at 22,980 RMB/ton (down 90 RMB/ton from July 7); Southwest China market quoted at 22,920 RMB/ton (down 90 RMB/ton from July 7); and Central China market quoted at 22,810 RMB/ton (down 100 RMB/ton from July 7).

4. [Rare Earths] Northern Rare Earth announced that, based on the pricing methodology for rare earth concentrate and the prices of rare earth oxides for the second quarter of 2026, the transaction price for the company's rare earth concentrate in the third quarter of 2026 has been adjusted to 38,565 RMB/ton (excluding tax; dry basis; REO=50%). For every 1% increase or decrease in REO content, the price (excluding tax) will increase or decrease by 771.30 RMB/ton.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.