- May29
- 11:16
SMM Magnesium News: Domestic Magnesium Prices Decline Amid Improved Transactions Ahead of Dragon Boat Festival
[SMM Magnesium News] On May 29, domestic magnesium prices continued to decline. The mainstream quotations for spot 99.90% magnesium ingot in the Fugu region ranged from 16,800 to 16,900 yuan/mt, with the mainstream spot transaction price hovering around 16,800 yuan/mt, a decrease of 100 yuan/mt from yesterday. As the Dragon Boat Festival holiday approaches, downstream markets are buying the dip, coupled with some magnesium producers offering discounts to stimulate transactions, market transactions have improved.
- 11:08
CosMX Battery Adjusts Investment Project to Focus on Consumer Batteries, Total Investment at 4 Billion Yuan
[CosMX Battery: Change in Investment Project Construction Content, Total Investment Remains at 4 Billion Yuan] CosMX Battery announced that the company had originally planned to invest 4 billion yuan in the construction of a high-performance new-type lithium-ion battery project. The plan has now been revised to include the company and its wholly-owned subsidiary as the investment entities. The construction content has been adjusted to focus on the production of consumer battery products, with the total project investment remaining unchanged at 4 billion yuan. The project is expected to commence production within 2028. This change does not constitute a related-party transaction or a major asset restructuring.
- 10:57
Tungsten Prices Skyrocket to Record Highs Amid Tight Supply and Optimistic Demand Outlook
[SMM Commentary: Tight Supply in Tungsten Mining Sector Drives Tungsten Prices to Record Highs, Up Nearly 17% Year-to-Date] Factors contributing to the tight supply in the tungsten market, such as the decline in the first batch of total tungsten ore mining control indicators for the year, the decrease in ore grade, and extremely low inventory of high-grade tungsten ore, have supported tungsten prices. Some suppliers are optimistic about the boost to future tungsten demand from global military upgrades and emerging industries, leading to strong reluctance among suppliers to sell. Low-priced tungsten is hard to find in the market, and tungsten prices have risen % year-to-date, breaking their previous record high. According to SMM, the market transaction price for high-grade tungsten ore exceeded 170,000 yuan/metric tonne in the afternoon of May 29.
- 10:50
Samsung SDI and LGES to Establish LFP Battery Production in US Joint Ventures
[Samsung SDI and LGES to Set Up LFP Battery Production Lines in the US] Recently, Samsung SDI and General Motors have agreed to introduce a production line for LFP batteries for EVs at their joint venture plant in Indiana by 2027. Initially, the plant was only planned to produce ternary lithium batteries with a nickel content exceeding 80%, but now it will produce both types. LGES also intends to convert part of its Tennessee plant, a joint venture with GM, into an LFP battery production line by region. The plant was completed in 2024 and currently only has a production line for ternary lithium batteries.
- 10:43
ISC Konstanz Plans 1GW Crystalline Silicon PV Cell Plant in Georgia with Suniva
German solar energy research centre ISC Konstanz plans to build a 1GW crystalline silicon PV cell production plant in the state of Georgia in partnership with US PV cell manufacturer Suniva.
- 10:42
CosMX Battery Receives SAIC Volkswagen Designation for Low-Voltage Lithium Batteries
[CosMX Battery: Received Designation Notice for Low-voltage Lithium Batteries from SAIC Volkswagen] Today, CosMX Battery announced that it had recently received a designation notice from SAIC Volkswagen Automotive Co., Ltd., becoming a designated supplier of low-voltage lithium batteries for its vehicles. This marks a further enhancement in the market recognition of CosMX Battery's low-voltage lithium battery products for vehicles, demonstrating strong market competitiveness. CosMX Battery had previously secured designations from several leading domestic and overseas automakers and had commenced mass production and supply. This designation notice will further strengthen the company's competitiveness and sustainable development capabilities in the low-voltage lithium battery business for vehicles, laying the foundation for increasing market share. With the mass production and launch of car models from partner automakers, shipments are expected to grow rapidly.
- 10:42
India Hits 12.5GW of PV Module Shipments in Q1 2025: JMK Research
India achieved 12.5GW of PV module shipments in the first quarter of 2025, according to energy consultancy JMK Research.
- 10:30
SMM Flash News: Domestic Zinc Ingot Inventory Declines Across Seven Locations
[SMM Flash News] According to SMM's communication and understanding, as of Thursday (May 22), the total zinc ingot inventory across seven locations tracked by SMM was 80,400 mt, a decrease of 5,900 mt from May 15 and a decrease of 3,400 mt from May 19, indicating a decline in domestic inventory. In the Shanghai region, there were fewer cargo arrivals during the week, while downstream enterprises engaged in just-in-time procurement and continuously picked up goods, leading to a significant drop in inventory. In the Guangdong region, there were also fewer cargo arrivals, resulting in a slight decrease in inventory. In the Tianjin region, the downstream procurement demand slowed down somewhat, combined with normal cargo arrivals during the week, leading to a slight increase in inventory. Overall, the inventory in the original three locations decreased by 3,000 mt, and the inventory across seven locations decreased by 3,400 mt.
- 10:28
SMM Flash: Domestic Zinc Ingot Inventory Declines as of May 22
[SMM Flash News] According to SMM's communication and understanding, as of Thursday (May 22), the total zinc ingot inventory across seven locations tracked by SMM was 80,400 mt, a decrease of 5,900 mt from May 15 and a decrease of 3,400 mt from May 19, indicating a decline in domestic inventory. In the Shanghai region, there were fewer cargo arrivals during the week, while downstream enterprises engaged in just-in-time procurement and continuously picked up goods, leading to a significant drop in inventory. In the Guangdong region, there were also fewer cargo arrivals, resulting in a slight decrease in inventory. In the Tianjin region, the downstream procurement demand slowed down somewhat, combined with normal cargo arrivals during the week, leading to a slight increase in inventory. Overall, the inventory in the original three locations decreased by 3,000 mt, and the inventory across seven locations decreased by 3,400 mt.
- 10:14
Trilogy Metals Launches $25M ATM Equity Program to Fund Alaska Copper Project
[Trilogy Metals Launches $25 Million At-the-Market Equity Program to Fund Alaska Copper Project] On May 27, 2025, Vancouver-based Trilogy Metals Inc. (TSX/NYSE American: TMQ) announced it has entered into an at-the-market equity distribution agreement with subsidiaries of BMO and Cantor Fitzgerald in Canada and the U.S., allowing the company to raise up to US$25 million through the issuance of common shares at prevailing market prices. Under the agreement, Trilogy may, at its discretion, issue shares from time to time on the Toronto Stock Exchange, NYSE American, or other eligible marketplaces. The company is not obligated to sell any shares under the program and will determine issuance based on capital needs. Proceeds from the program will be used to advance development of the company’s Upper Kobuk Mineral Projects (UKMP) in Alaska and for general corporate purposes. The agreement will remain in effect until the earlier of May 14, 2027, or the point at which the full US$25 million has been raised. The ATM program is being offered under a Canadian base shelf prospectus and a U.S. Form S-3 registration statement, both effective as of April 14, 2025, with a prospectus supplement filed on May 27, 2025. U.S. agents will only conduct sales in U.S. markets, while Canadian agents are restricted to Canadian markets. Trilogy emphasized that the announcement does not constitute an offer to sell or solicit the purchase of any securities.
- 10:11
First Majestic Announces Second Gold-Silver Discovery at Santa Elena and Navidad Expansion
[First Majestic Announces Second Gold-Silver Discovery Within a Year at Santa Elena; Navidad Expansion Confirms Higher-Grade Mineralization] First Majestic Silver Corp. (NYSE: AG; TSX: AG) announced in May that it has made a second significant gold-silver discovery within a year at its Santa Elena project in Sonora, Mexico. The newly identified Santo Niño vein is located approximately 900 metres south of the Santa Elena processing plant. Concurrently, continued drilling at the Navidad deposit has significantly expanded the mineralized footprint and returned grades well above those estimated in the initial resource model. With the addition of Santo Niño and the ongoing expansion at Navidad, the Santa Elena property now hosts four major gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño — highlighting the district’s growing scale and exploration potential. Drilling at the Navidad/Winter vein system, following the maiden inferred resource estimate, has extended the mineralized zone significantly. Drillhole EWUG-25-050, located over 100 metres east of previous drilling, intercepted the highest-grade mineralization to date on the property. First Majestic stated that the growth in mineralized volume and grade at both Santo Niño and Navidad is expected to meaningfully extend the mine life of the Santa Elena operation and unlock further value across its portfolio.
- 10:00
Weekly Review: Guinea Bauxite Incident Impact Eases, Prices Stabilize with Volatile Adjustment Ahead
【Weekly Review of Bauxite】The impact of the Guinea bauxite incident on market sentiment gradually eased this week, with transaction prices failing to rise further. As of Thursday this week, the CIF price of Guinea bauxite was reported at $74/mt, an increase of $2/mt from last Thursday. Influenced by the concentration of Guinea bauxite transaction prices around $73-75/mt, the SMM imported bauxite index rose. As of Thursday this week, the SMM imported bauxite index was reported at $74.11/mt, up $1.97/mt from last Thursday. With no progress in the Guinea bauxite incident, bauxite suppliers' willingness to sell at low prices was not strong. However, alumina operating capacity still failed to rebound significantly. In the short term, the fundamental situation of bauxite is expected to remain in a surplus pattern, with general intentions to purchase bauxite at high prices. In the short term, imported bauxite prices are expected to enter a phase of volatile adjustment.
- 09:56
Sodium-Ion Battery Market Sees Notable Advances with Qingna Technology's Factory Launch and Growing Demand
This week, the sodium-ion battery market has made remarkable progress. On May 26th, Qingna Technology's Phase I intelligent factory for large-cylinder sodium-ion batteries with a capacity of 10 GWh commenced operations, injecting vitality into the industry. Regarding the market trends of sodium-ion battery cathodes and anodes, the cathode materials have witnessed rapid growth in the polyanion pathway products due to the demand from the downstream ESS market. As for anode materials, which serve as a bottleneck for the industrialisation of sodium-ion batteries, despite the presence of promising materials such as hard carbon, they still face challenges in terms of cost and process. Overall, sodium-ion batteries, with their advantages of abundant resources and low cost, continue to expand in fields such as two-wheelers and ESS. With the release of new capacities and accelerated technological iterations, sodium-ion batteries are expected to occupy an important position in the future new energy market.
- 09:55
Cobalt Powder Market Remains Steady with Limited Price Fluctuations
This week, the cobalt powder market continued to operate steadily, with limited overall fluctuations in enterprise quotations. The impact of price adjustments on orders was not significant. Downstream demand in the alloy industry remained stable, but due to the rising price of tungsten carbide and its high cost proportion, alloy enterprises were more focused on the price trend of tungsten, with relatively low attention to cobalt powder. Under this market situation, cobalt powder prices maintained a stable state, lacking obvious drivers for short-term price changes, and market sentiment leaned towards wait-and-see.
- 09:53
SMM Flash: Lead Prices Steady, Secondary Suppliers Quiet, Downstream Cautious
[SMM Flash News] Today, the SMM 1# lead average price remained unchanged from yesterday at 16,575 yuan/mt, with the price difference between primary metal and scrap at 0 yuan/mt. Secondary refined lead suppliers offered few quotations, with tax-inclusive ex-factory quotations mainly on par with or at a slight premium against the SMM 1# lead average price. Downstream lead-acid battery producers adopted a wait-and-see attitude and made cautious purchases, with spot order purchases meeting just-in-time demand.
- 09:52
Shijiazhuang Refining & Chemical Achieves Breakthrough in Anode Coke Production with Successful Trial of 200 mt
[Shijiazhuang Refining & Chemical Successfully Trial-Produces 200 mt of Anode Coke] Recently, Shijiazhuang Refining & Chemical successfully trial-produced 200 mt of anode coke products for the first time, which passed strict quality detection and were successfully delivered to targeted customers, marking a new breakthrough for Shijiazhuang Refining & Chemical in the field of high-end carbon materials. As a core raw material for producing lithium battery anodes, anode coke has been in high demand in the new energy market in recent years. Shijiazhuang Refining & Chemical closely follows industry development trends, accurately grasps market opportunities for anode coke, and drives efficiency improvements through innovation.
- 09:51
SMM Flash: SHFE Lead 2507 Contract Closes Up 0.27% Amid Inventory Accumulation and Holiday Effect
[SMM Flash News] The most-traded SHFE lead 2507 contract opened at RMB 16,795/mt today. After briefly touching a high of RMB 16,825/mt in the early session, it fluctuated downward. It slightly rebounded towards the end of the session, closing at RMB 16,750/mt, up 0.27%, with open interest at 45,996. According to SMM, as of May 29, the total social inventory of lead ingots across five locations tracked by SMM reached 49,400 mt, an increase of 6,000 mt from May 26. With the Dragon Boat Festival holiday approaching, some lead-acid battery enterprises plan to take a 1-3 day holiday. Downstream enterprises showed weak purchasing enthusiasm before the holiday. Social inventory of lead ingots continued to accumulate, dragging lead prices lower. With no prospect of scrap battery prices falling, losses in secondary lead production widened again, dampening the enthusiasm of smelters for production and shipments. The price of secondary refined lead inverted against primary lead, and the cost support of secondary lead remained effective. Bullish and bearish factors intertwined, and lead prices may continue to consolidate in the short term.
- 09:50
SMM HRC Trading Volume Surges as Futures Rebound and Spot Prices Rise
[SMM HRC Daily Trading Volume] Futures Stop Falling and Rebound; Spot Trading Volume Increases Significantly [SMM HRC Daily Trading Volume] On May 29, the combined daily trading volume of HRC among sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM was 13,880 mt, a day-on-day increase of 3,660 mt, or 35.8%. Today, futures bottomed out and rebounded, with spot prices rising by 10-30 yuan/mt. After consecutive days of decline, futures finally rebounded, and the market trading atmosphere improved, with a significant increase in daily trading volume.
- 09:49
HRC Futures Rebound, Spot Trading Volume Surges 35.8%
[SMM HRC Daily Trading Volume] Futures Stop Falling and Rebound; Spot Trading Volume Increases Significantly [SMM HRC Daily Trading Volume] On May 29, the combined daily trading volume of HRC among sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM was 13,880 mt, a daily increase of 3,660 mt, or 35.8%. Today, futures bottomed out and rebounded, with spot prices rising by 10-30 yuan/mt. After consecutive days of decline, futures finally rebounded, and the market trading atmosphere improved, with a significant increase in daily trading volume.
- 09:49
Large Alumina Refinery in Shandong Raises Liquid Caustic Soda Purchase Price by 20 Yuan/mt
[A Large Alumina Refinery in Shandong Adjusts Liquid Caustic Soda Purchase Price] According to SMM, starting from May 30, a large alumina refinery in Shandong adjusted the purchase price of 32% ion membrane liquid alkali, raising it by 20 yuan/liquid mt from the previous 820 yuan/liquid mt. The ex-factory price is set at 840 yuan/liquid mt,equivalent to approximately 2,625 yuan/mt(price adjusted on a 100% concentration basis).
- 09:47
Weekly Update: Metallurgical-Grade Alumina Operating Rate Rebounds
[Weekly Metallurgical-Grade Alumina Production Update]According to SMM data, as of Thursday this week, the total existing capacity of metallurgical-grade alumina nationwide was 110.82 million mt/year, and the total operating capacity was 86.67 million mt/year. The weekly operating rate of alumina nationwide rebounded by 0.19 percentage points WoW to 78.21%, mainly due to the completion of maintenance at some refineries, which led to a rebound in operating capacity.
- 09:43
Kaz Minerals Q1 2025 Zinc Concentrate Production Down 19% QoQ Despite Grade Improvement
【SMM Flash News】Kaz Minerals released its Q1 2025 report, which showed that its zinc concentrate production in Q1 was 9,300 mt, down 19% QoQ. Despite the increase in the zinc grade processed from 2.36% in Q4 last year to 2.41%, the reduction in the volume of ore processed partially offset this growth.
- 09:43
Kaz Minerals' Q1 2025 Zinc Concentrates Production Drops 19% QoQ Despite Grade Increase
[SMM News] Kaz Minerals released its Q1 2025 report, which showed that its zinc concentrates production in Q1 was 9,300 mt, down 19% QoQ. Although the zinc grade processed increased from 2.36% in Q4 last year to 2.41%, the decrease in the volume of ore processed partially offset this growth.
- 09:39
CATL Establishes 7 Million Yuan Energy Company in Ningxia
[CATL Invests 7 Million Yuan to Establish an Energy Company in Ningxia]. On May 29, it was reported that Shidai Juhe (Ningxia) Energy Technology Co., Ltd. was established, with Chen Xiaobo as its legal representative and a registered capital of 7 million yuan. Its business scope includes R&D of emerging energy technologies, basic software development for artificial intelligence, sales of battery swapping facilities for NEVs, and ESS technical services, among others. Shareholder information indicates that the company is wholly owned by Contemporary Amperex Technology Co., Limited.