SMM

On December 23, the SMM battery-grade nickel sulphate index price was 26,363 yuan/mt, with the quotation range for battery-grade nickel sulphate at 25,990-26,910 yuan/mt, and the average price remained flat WoW.

[SMM Analysis: Aluminum Wheel Exports Expected to Continue Declining] By export destination, the top five export destinations for aluminum wheels in November were the US, Japan, South Korea, Mexico, and Thailand. The export volumes to these five countries accounted for 27%, 24%, 10%, 8%, and 5% of the total aluminum wheel exports, respectively...

Australian Rare Earths Ltd has been awarded a grant of 5 million Australian dollars under the Australian Federal Government's Critical Minerals International Partnerships Program, aimed at accelerating the pre-feasibility study and construction of a demonstration plant for the high-potential Koppamurra Rare Earths Project. The company's application was supported by its shareholder, NEO Performance Materials, a global advanced industrial materials manufacturer. NEO, with over 30 years of experience in the international rare earth magnet industry, has also signed a memorandum of understanding with the company regarding an offtake agreement. Australian Rare Earths Ltd operates multiple rare earth and uranium projects in Australia, with the most notable being the Koppamurra Project, located at the border of South Australia and Victoria. It is an ion-adsorption clay rare earth deposit, rich in all the elements required for manufacturing rare earth permanent magnets.

[SMM Survey: Oriented Silicon Steel Capacity and Production Lines to Expand Further in 2025!] According to SMM data, as of the end of December 2024, a total of four new oriented silicon steel production lines have been put into operation by domestic steel mills this year, with a combined capacity of approximately 400,000 mt, all of which are HIB. As shown in the table below, the new production lines are distributed across central, north, and east China. In terms of cold-rolled oriented silicon steel capacity, the national capacity increased by 41.62% YoY to 2.96 million mt in 2023. After the addition of four new production lines in 2024, the capacity will rise to 3.36 million mt, up 13.5% YoY. The oriented silicon steel capacity is dominated by state-owned long-process capacity, primarily HIB, while private EAF steel mills, despite their larger numbers, account for a smaller share of capacity and mainly focus on CGO.

Nemak Poland and Nemak Slovakia, subsidiaries of Nemak S.A.B. de C.V., have successfully obtained the Aluminium Stewardship Initiative (ASI) Chain of Custody (CoC) Standard V2 certification, covering the production of aluminum components for the automotive industry and their outsourced contractors. The aluminum components produced by these plants include engine blocks, transmission housings, electric motor housings, shock towers, and battery housings. Additionally, both plants have also achieved ASI Performance Standard V3 certification.

In November, the national railway completed a freight volume of 350 million mt, up 5.5% YoY; the average daily loading exceeded 194,000 cars, setting a record high.

November Secondary Copper Raw Material Imports Declined as Expected MoM and YoY, Facing Future Market Uncertainty" According to the latest data from the General Administration of Customs, China's imports of copper scrap and shredded copper scrap in November 2024 amounted to 173,500 mt, down 5.25% MoM and 5.14% YoY. The cumulative imports from January to November 2024 reached 2.0325 million mt, up 13.76% YoY (HS code 74040000).

[SMM Spot Aluminum Midday Review: Significant Social Inventory Destocking, Narrowed Spot Discounts in East China]

[SMM Daily Review: High-Grade NPI Market Demand Remains Weak, Short-Term Market Prices May Still Pull Back] December 23 - The SMM 8-12% high-grade NPI average price was 940.5 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu compared to the previous working day...