SMM

[SMM Analysis: October Silver-Related Product Exports Boosted, Imports Suppressed] In October, the export volume of silver ingots rose slightly by 1.9%, while imports decreased 28.3% MoM; the import volume of silver nitrate decreased 43.9% MoM; the import volume of silver powder decreased 32% MoM, and the export volume increased 89.3% MoM.

As the year-end approaches, what are the preliminary intentions of South China traders regarding the signing of long-term contracts for next year? According to SMM, the overall proportion of long-term contracts signed by companies with import volumes under 100,000 mt this year is around 10% to 50%, with a few companies reaching approximately 70% to 80%. For companies with import volumes between 100,000 mt and 200,000 mt, long-term contracts account for about half of their trade volume...

[Why did the import volume of die-casting zinc alloy surge in October?] According to customs data, the import volume of die-casting zinc alloy in China surged in October, increasing from 4,047.44 mt in September to 6,065.26 mt in October. Up 49.86% MoM, the cumulative import volume reached 40,764.37 mt by the end of October, with a cumulative YoY of -3.28%...

[SMM Hot Topic: 2025 Steel Market Outlook under Macro & Capacity Influences] In 2024, the central focus of steel price fluctuations further shifted downward, with the annual price low appearing in early September. What new challenges will the steel market face in 2025? How will steel prices fluctuate?

[LFP: Shandong Fengyuan Chemical has completed the construction of 2.25 million mt of LFP capacity] On November 21, 2024, Shandong Fengyuan Chemical stated that the company uses the solid-phase method to produce LFP cathode active materials and has currently completed the construction of 2.25 million mt of capacity. Part of this capacity is in the trial production and capacity ramp-up stage. Additionally, the company is constructing another 750,000 mt of capacity. Based on industry development trends and changes in downstream customer demand, the company will make dynamic adjustments during the capacity construction process. Furthermore, the company has certain technical reserves in the field of sulphide cathode materials for solid-state batteries.

[SMM Galvanizing Shandong Tour: How Are the Enterprises Doing?] In November 2024, SMM organized a galvanizing inspection tour in Anhui to investigate the operating rates of the galvanising market. The specific situations of each enterprise are as follows...

According to the latest data from China Customs, in October 2024, China's total imports of nickel sulphate were 2,266 mt (metal content), down 8% MoM and down 26% YoY. China's exports of nickel sulphate were 497 mt (metal content), down 32% MoM and up 18% YoY.

[SMM Analysis: Copper Prices Fluctuate, Secondary Copper Raw Material Prices Remain High] This week, copper prices first fell, then rose, and fell again, with a decline of 100 yuan/mt. In contrast, secondary copper raw material prices increased due to the persistent supply issues. This week, the price of bare bright copper in Guangdong rose by 200 yuan/mt. According to the SMM survey, Port Klang in Malaysia, the second-largest port in Southeast Asia, has experienced a halt in customs clearance operations since September this year...

[SHFE Zinc Records a Bearish Candle, Zinc Prices Expected to Maintain Fluctuating Trend in the Evening]: The most-traded SHFE zinc 2412 contract opened at 25,240 yuan/mt. At the beginning of the session, bulls increased their positions, causing SHFE zinc to fluctuate upward above the daily average line. Subsequently, bulls took profits and exited, leading SHFE zinc to plunge and test a low of 25,135 yuan/mt. During this period, SHFE zinc attempted to rise above the daily average line but ultimately failed and moved downward...