Latest Update in the SMM Solar Market

SMM, November 28, 2024: According to customs data, China's aluminum foil exports in October 2024 were 134,200 mt, up 8% MoM and 27% YoY.

SMM, November 28, 2024: According to customs data, China's aluminum plate/sheet and strip exports in October 2024 amounted to 300,300 mt, up 34% YoY and up 4% MoM.

November 28, 2024: According to customs data, aluminum wire and cable exports in October 2024 reached 14,300 mt, marking a rebound with a 52.7% increase from August and up 13.64% YoY.

According to the latest customs data, in October 2024, China's exports of copper wire with a maximum cross-sectional dimension >6mm reached 5,017.2 mt, up 22.8% MoM and 47.4% YoY.

According to data from the General Administration of Customs, China imported approximately 7,050.15 mt of copper foil in October 2024, down 11.79% YoY and 1.54% MoM.

According to SMM data, domestic copper cathode social inventory has been dropping for four consecutive weeks, but the Yangshan copper premium has remained rangebound without significant improvement.

Overnight, LME copper opened and peaked at $9,046/mt, initially fluctuated downward to $8,985/mt, rebounded during the session, and finally closed at $9,018/mt, up 0.62%, with trading volume reaching 15,000 lots and open interest at 271,000 lots.

The mainstream spot premiums for Jinchuan #nickel were quoted at 3,000-3,500 yuan/mt, with mainstream market transaction premiums concentrated at 3,000-3,200 yuan/mt.