Latest Update in the SMM Used Lithium-ion Battery Market

According to the announcement by the Ministry of Finance and the State Administration of Taxation, starting from November 2024, the export tax rebate rate for lithium batteries will be reduced from 13% to 9%. This policy adjustment aims to guide domestic price recovery by lowering export tax rebates, alleviate international trade accusations, and encourage the cultivation of internationally competitive products.

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

NIO announced a strategic partnership with Green Car, marking its upcoming entry into the Azerbaijani market.

In last week's international situation, fluctuations in the US dollar exchange rate became a significant factor affecting the metals market, including SHFE tin prices.

Based on data obtained through in-depth market exchanges by SMM, as of last Friday, we observed a certain degree of stability in the operating rates of refined tin smelters in Yunnan and Jiangxi provinces, with specific values slightly down to 65.42%.

According to the SMM survey, as of last Friday, the total social inventory of tin in the three regions surveyed by SMM was 10,570 mt, an inventory buildup of 105 mt compared to the previous week.

As of November 14, the SMM report shows that the total social inventory of stainless steel reached 975,700 mt, down approximately 0.25% WoW.

Last week, the ferrous metals series fluctuated downward.