Against the backdrop of declining revenue, Contemporary Amperex Technology Co. Limited (CATL) continues to maintain an upward trend in net profits, remaining at a scale of over 10 billion yuan, thanks to the improvement in the company's gross profit margin. According to Choice data, the company's sales gross profit margin of 26.42% is the highest in nearly two years. This Q1 performance report has been considered by the industry to exceed expectations, possibly leading to Moody's Investors Service upgrading CATL's issuer rating from Baa1 to A3 today.

Today's lithium carbonate market faced a downturn, with the SMM index falling to 111,085 yuan/ton (~15,343.23 USD/ton) and futures declining by 3.78%, reflecting cautious market sentiment.

DCE iron ore futures fall today, The main contract I2409 closed at 826; an decrease of 1.49% throughout the day; Traders ship according to market conditions; Some steel mills tended to be wait-and-see, and purchased on demand. PBF at Shandong port dealt 843-847 yuan/mt; decreased 10-15 yuan/mt over yesterday. PBF at Tangshan port dealt 865-875 yuan/mt; decreased 15 yuan/mt over yesterday.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Apr 16, 2024

On 13 April 2024, the United States and the United Kingdom announced new trade restrictions against Russian aluminium, copper, and nickel, prohibiting the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) from accepting these metals produced in Russia from 13 April onwards. Moreover,......