Latest Update in the SMM Silicon Steel Market

According to customs data, in terms of exports: China's silicon metal export volume in November 2024 was 52,900 mt, down 19% MoM and up 11% YoY. From January to November 2024, the cumulative export volume of silicon metal was 667,100 mt, up 28% YoY. In terms of imports: China's silicon metal import volume in October 2024 was 2,200 mt, up 3% MoM. From January to November 2024, the cumulative annual import volume was 28,000 mt, with a YoY increase of 443%.

In this week's metal market, the price of high-nickel pig iron (NPI) continued to be under pressure. According to specific data, the average price of SMM 8-12% high-nickel pig iron was 943.4 yuan per nickel point (ex-factory, including tax), a slight decrease of 3 yuan per nickel point from the previous week. Moreover, the Indonesian NPI FOB index also dropped by $0.8 per nickel point compared to last week. This week's market trends indicate that the dynamic changes between supply and demand continue to impact prices, and market participants need to closely monitor the further development of these factors.

At the NIO Day 2024 held on December 21, NIO officially put its new flagship sedan, the ET9, onto the market with a purchase price of 780,000 yuan for the complete vehicle, or 660,000 yuan for selecti...

[SMM Analysis: Domestic Trade Demand Remains Weak, Titanium Dioxide Prices Fluctuate Downward] This week, the titanium dioxide market prices have generally shown a relatively stable trend. Currently, the quoted price for sulphuric acid process rutile titanium dioxide is...

[SMM Analysis: Myanmar Ore Imports Continued to Decline Significantly in November] It is understood that in November, shipments of unlisted rare earth oxides from Myanmar saw a significant reduction due to geopolitical factors, accounting for only 37% of the total imports. However, according to miners, imports of Myanmar ore may resume by month-end or early next month, with unlisted rare earth oxide imports expected to see a notable increase in January 2025.

[SMM Weekly Review: Pre-Holiday Stockpiling by Magnetic Material Enterprises Remains Limited, Rare Earth Prices Continue to Fluctuate Downward] Currently, due to insufficient order volumes, most magnetic material enterprises have indicated that they will begin to gradually suspend operations at the month-end or in mid-next month. SMM expects that this year's pre-holiday metal procurement volume may significantly decrease compared to previous years.

Covestro recently entered into a strategic partnership with Guangdong GOVY Technology Co., Ltd. (GOVY), a subsidiary of GAC Group, to jointly promote materials innovation in the field of eVTOL aircr...

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