Greater China Materials: Weekly Monitor: Lithium Lepidolite Restarts

研报英文原文证据摘录

Greater China Materials: Weekly Monitor: Lithium Lepidolite Restarts

Update

July 3, 2026 03:32 PM GMT

Morgan Stanley Asia Limited+MGreater China Materials | Asia Pacific Rachel L Zhang

Equity Analyst

Weekly Monitor: Lithium Rachel.Zhang@morganstanley.comChris Jiang +852 2239-1520

Chris.Jiang@morganstanley.com +852 3963-1593

Lepidolite Restarts Hannah Yang, CFA

Hannah.Yang1@morganstanley.com +852 2239-7079

Key Takeaways Cynthia Tang

Research Associate

Central environmental inspection targets aluminum overproduction, ordering Cynthia.Tang@morganstanley.com +852 3963-4360

200kt of non-compliant capacity in Guangxi to shut down.

Aluminum: Magnitude 7 Metals plans to restart 75ktpa aluminum; Norsk Hydro to

restart 75ktpa of aluminium production at Slovalco plant.

Lithium: CATL’s Jianxiawo lithium mine secures safety production permit;

Sinomine temporarily suspends lithium salt production over logistics mismatch. Greater China Materials

Asia Pacific

Kazakhstan follows Russia in full suspension of sulfur exports starting June 27; Industry View Attractive

the ban will remain in effect "until further notice."

Base metals: Shanghai copper prices increased 1.4% and inventories declined 14.7%

WoW. Shanghai aluminum prices inched down 0.5% and inventories decreased 1.4%

compared to a week ago.

Battery metals: Domestic industrial- and battery-grade hydroxide prices grew 5.0%

WoW and 4.5% WoW, respectively. Industrial- and battery-grade lithium carbonate

prices increased 3.6% and 3.5% WoW.

Gold: Prices rose 2.4% WoW, to US$4,122/oz.

Steel: Shanghai HRC and CRC prices dipped 0.9% and 0.6% WoW, respectively.

Shanghai rebar prices edged down 0.7% while Tangshan billet prices decreased 1.0%

WoW. Long steel inventories at traders increased 2.5% while those of flat steel rose

1.8% WoW.