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[SMM Analysis: Cost Pressure on Domestic High-Grade NPI Eases, New Opportunities and Challenges May Arise in the Future] Recently, significant changes have been observed in the operation of smelters in the domestic high-grade NPI industry. According to the latest market data...

In this week's metal market, the price of high-nickel pig iron (NPI) continued to show a weakening trend. According to data from SMM (Shanghai Metals Market), the average ex-factory price of 8-12% high-nickel pig iron this week was CNY 940.1 per nickel point (including tax), down by CNY 3.3 from the previous week's average price. Additionally, Indonesia's NPI FOB price index dropped by USD 0.6 per nickel point compared to the previous week. This trend reflects the market's response to the supply and demand dynamics of high-nickel pig iron.

[SMM Analysis: Tug-of-War Between Supply and Demand in the NPI Market, Short-Term Stability Expected] This week, high-grade NPI prices continued to weaken. The average ex-factory price of 8-12% high-grade NPI during the week was 940.1 yuan/mtu (including tax), down by 3.3 yuan/mtu compared to the previous week's average price...

December 29, 2024— Time flies, and in the blink of an eye, the year is nearing its end. As we look back on the processing and consumption of aluminum in downstream industries over the past year, the aluminum wire and cable sector stands out. Key words such as "ultra-high voltage" and "aluminum as a substitute for copper" have frequently appeared. According to SMM's continuous tracking of aluminum wire and cable enterprises, since April this year, the delivery of orders related to ultra-high voltage has been in full swing, and it was not until November that deliveries were gradually completed. This alleviated the production pressure on enterprises, giving them the opportunity to implement production cuts and conduct equipment maintenance in preparation for next year's production. Clearly, "ultra-high voltage" has become a significant driving force for the development of the aluminum wire and cable industry. So, what exactly is "ultra-high voltage"?

[SMM Analysis: The US Department of Energy (DOE) recently released its Energy Storage Strategy and Roadmap, aiming to advance the development, commercialization, and deployment of next-generation energy storage technologies.] The US Department of Energy (DOE) recently released its Energy Storage Strategy and Roadmap, aiming to advance the development, commercialization, and deployment of next-generation energy storage technologies.

[SMM Science Popularization: Iron Lithium Cathode Repair Technology May Become the New Key to Extending Battery Life] Iron lithium batteries are widely used in various fields due to their high safety, long lifespan, and environmental protection characteristics. However, as usage time increases, battery performance declines due to the degradation of cathode materials. Therefore, the repair of cathode materials has become key to extending battery life.

[SMM Analysis: Downstream Demand Recovers, EMM Spot Price Fluctuates Upward] Supply side, most EMM plants slightly increased production, while EMM plants in Guizhou slightly reduced production due to furnace maintenance. Overall, EMM production in December is expected to increase MoM. Demand side, due to favorable market news, other manganese alloy products experienced tight spot supply and rapid price increases in December, leading downstream demand to favor EMM procurement and boosting purchasing enthusiasm for EMM. In summary, driven by the boost from other manganese alloys and the effective digestion of previous inventories by manganese plants, EMM prices in December fluctuated upward. Entering January 2025, EMM prices are expected to continue fluctuating upward. Supply side, some EMM plants plan to suspend production for maintenance, and EMM supply is expected to decrease slightly in the future. Demand side, downstream steel mills are expected to stockpile ahead of the Chinese New Year, leading to a slight recovery in EMM demand. In conclusion, supported by the stockpiling demand from downstream steel mills, EMM prices are expected to continue fluctuating downward in the future.

[SMM Analysis: Cautious Purchasing by Downstream Steel Mills, SiMn Alloy Spot Prices Fluctuate Downward] In the spot market, there remains a certain cost difference between the northern and southern regions. In December, due to pre-Chinese New Year stockpiling demand from alloy plants, the purchasing enthusiasm for manganese ore was relatively high. Coupled with a slight rise in overseas manganese ore quotes, miners showed strong sentiment to stand firm on quotes, leading to a slight rise in the manganese ore spot market. As manganese ore inventory at southern ports remained relatively low, spot quotes in the southern manganese ore market were firm. Additionally, the impact of high electricity costs in the south resulted in the northern region maintaining cost advantages compared to the southern region. Supply side, northern SiMn alloy plants, benefiting from lower production costs, saw some previously ignited plants start production, with production expected to increase slightly. In contrast, southern SiMn alloy plants, facing significant production pressure, showed a stronger willingness to reduce or halt production. Overall, the increase in production is expected to outweigh the reduction, leading to an overall increase in SiMn alloy production. Demand side, in December, some steel mills showed pre-Chinese New Year stockpiling demand, with downstream steel mills demonstrating strong purchasing enthusiasm for SiMn alloy. However, they tended to bargain down purchasing prices for SiMn alloy. Overall, the supply surplus in the SiMn alloy market remains unchanged. Coupled with the pressure from steel mills bargaining down prices, SiMn alloy spot prices fluctuated downward. Additionally, according to SMM, entering January, some SiMn alloy plants are expected to undergo year-end maintenance. Furthermore, southern SiMn alloy plants are expected to halt production due to production pressure. On the demand side, downstream steel mills are expected to engage in pre-Chinese New Year stockpiling. Overall, supported by downstream demand, SiMn alloy prices are expected to fluctuate upward in the future market.