Latest Update in the SMM Solar Market

SMM April 21 News, According to customs data, nickel ore imports in March 2025 reached 1.5352 million mt, up 389,100 mt MoM, an increase of 34%, but down 6,900 mt YoY, a decrease of 0.45%. Among them, laterite nickel ore imports were 1.514 million mt, and nickel sulphide ore imports were 22,100 mt. In March, laterite nickel ore imports from the Philippines were 1.2057 million mt, accounting for 78.53% of the total imports for the month. Cumulative imports for 2025 stood at 3.5933 million mt, down 5.22% compared to the same period last year.

SMM SiMn Futures Review: Futures Market Holds Up Well, Spot Market Remains Stable. The SM2509 contract opened at 5,910 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 5,920 yuan/mt, up 0.44%. The daily high was 5,942 yuan/mt, and the low was 5,894 yuan/mt. The trading volume was 136,591, and the open interest was 325,213. At the beginning of the week, the futures market held up well, while the spot market mostly maintained a wait-and-see sentiment. Currently, the SiMn market still lacks positive factors, and spot prices struggle to rise.

Customs data showed that solar cell exports reached 954 million units in March 2025, up 33.7% MoM and 84.6% YoY.

SMM EMM Daily Review: Market Mostly in Stalemate at the Start of the Week, Spot Prices Remain Stable. The average spot price of EMM in the main production areas was 13,350-13,550 yuan/mt, flat MoM. The average FOB price was $1,870-1,900/mt, flat MoM. Supply side, EMM plants maintained a strong sentiment to stand firm on quotes, and holders of EMM were influenced by this sentiment, showing a weak willingness to sell at low prices. Demand side, downstream steel mills had a weak purchasing enthusiasm for EMM, resulting in a sluggish market turnover.

Customs data showed that silicon wafer exports in March 2025 reached 7,000 mt, up 32.1% MoM and up 1.1% YoY.

Sichuan Yinhe Chemical Co., Ltd. issued a price adjustment letter for metal chromium. Due to the continuous rise in raw material prices recently, leading to increasing production costs, and adhering to the principles of honest operation and win-win cooperation, the company has decided to adjust the prices of all its chromium-based new material products effective immediately, with an increase of 5,000 yuan/mt on the original price.