Latest Update in the SMM NdFeB Scrap Market

This week's market data indicates a continuous decline in high-nickel pig iron prices. The weekly average price of SMM 8-12% high-nickel pig iron was 983.6 yuan per nickel point (ex-factory, including tax), down 21.6 yuan from last week. Meanwhile, the Indonesian NPI FOB index fell by 3.1 dollars per nickel point from the previous week.On the supply side, domestically, due to the impact of the rainy season keeping Philippine nickel ore prices firm, the downward trend in spot prices has weakened production incentives. However, with the improvement in average grade, metal output has slightly increased. In Indonesia, the additional supply primarily comes from the shift back to high-nickel pig iron due to decreased profits in high-grade nickel, along with the ramp-up of new capacity, potentially increasing the total volume available for China to import.

Sociedad Química y Minera de Chile (SQM) reported a significant drop in lithium revenues for Q3 2024, reflecting persistent pricing pressures in the global market.

On 15 November, Sigma Lithium released its Q3 2024 results, reporting higher-than-expected production while progressing on its Phase 2 expansion project.

Sayona Mining and Piedmont Lithium have announced a US$623 million all-stock merger to create North America’s largest hard-rock lithium producer.

ExxonMobil and LG Chem have signed a non-binding memorandum of understanding (MOU) for a multiyear supply of up to 100,000 metric tonnes of lithium carbonate.

SMM, Nov 22: According to the SMM survey, as of November 21, copper inventories in domestic bonded zones decreased by 800 mt WoW to 62,000 mt.

ZEEKR announced that its newly introduced ZEEKR 7X model had achieved over 25,000 units in cumulative deliveries within 60 days of its market launch.

BYD Commercial Vehicle held the first showcase event for the 2025 T5 light-duty truck series in Dongguan city, Guangdong province, marking the debut of the new model.