Latest Update in the SMM Cathode Material Market

[SMM Daily Review: Ferrochrome Market Remains Stable, Chrome Ore Prices Fluctuate in Stalemate] On May 19, 2025, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,000-8,100 yuan/mt (50% metal content), with the average price falling by 25 yuan/mt (metal content) compared to the previous trading day...

[SMM Daily Commentary on Coking Coal and Coke] In terms of supply, most coking enterprises remain near the break-even point, with stable production. However, some coking enterprises face certain obstacles in shipping their products, leading to an increase in coke inventory pressure. On the demand side, the peak demand season for steel is gradually fading, with pig iron production at steel mills peaking and then pulling back. Currently, the coke inventory levels at most steel mills are at medium to high levels, prompting them to be cautious in purchasing raw materials and maintain purchasing as needed overall. In summary, the supply-demand imbalance for coke has slightly accumulated, and cost support has weakened. In the short term, the coke market is expected to remain in the doldrums, with the possibility of a second round of price reductions.

On May 12, China and the US issued the "Joint Statement on the China-US Geneva Economic and Trade Talks," easing trade tensions. Amidst the ever-changing macro landscape, how has the downstream consumption of die-casting zinc alloy in China performed recently? First, from the perspective of zinc prices and the operating rate of die-casting zinc alloy, domestic zinc prices in April were influenced by macro fluctuations, continuously declining to a new low in 2025, falling below 22,000 yuan/mt. The low prices prompted most end-users to buy the dip, coupled with some end-users in the market taking limited "rush exports" actions, thus driving an improvement in orders for die-casting zinc alloy enterprises in April. The following analysis will be conducted from the perspectives of the real estate sector, auto parts sector, exports, and other sectors...

[SMM Rare Earth Daily Review: Sluggish Market Trading, Strong Wait-and-See Sentiment] Currently, the overall price of the rare earth market remains stable. Today, the activity of inquiries and quotations is low, with sluggish market transactions and a decrease in actual trading volume. After the market returned to rationality, some industry insiders found that the supply-demand pattern had not changed significantly, which weakened their confidence in the future market outlook and led to a strong wait-and-see sentiment.