On August 25, the SMM battery-grade nickel sulphate index price was 27,456 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,490-27,790 yuan/mt. The average price increased WoW.

[SHFE TIN NOON COMMENTARY: MACRO DOVE SENTIMENT BOOSTS TIN PRICES REBOUND, TIGHT SUPPLY AND WEAK DEMAND LIMIT UPSIDE ROOM] During today's noon session, the most-traded SHFE tin 2509 contract showed a low-to-high trend. It opened at 266,000 yuan/mt and climbed to 271,090 yuan/mt during the session, mainly due to the recovery of macro sentiment and support from the LME. The contract closed at 269,340 yuan/mt at noon, up 3,010 yuan/mt or 1.13% from the previous trading day's settlement price. Trading volume and open interest both increased, indicating a significant rise in market trading sentiment. LME tin prices also strengthened, closing at $33,845/mt overnight, with a daily gain of 1.11% and a weekly increase of 0.45%, showing enhanced short-term bullish expectations for tin prices.

In North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 70-50 yuan/mt, with an average discount of 60 yuan/mt, down 10 yuan/mt from the previous trading day. The transaction price was 78,580-78,660 yuan/mt, with an average price of 78,620 yuan/mt, up 30 yuan/mt from the previous trading day.

Futures: Last Friday night, LME copper opened at $9,739/mt, dipped to a low of $9,708/mt in early trading, then fluctuated upward throughout the session, reaching a high of $9,813.5/mt near the close.

[smm magnesium morning meeting summary: rebound driven by improved downstream purchasing sentiment, full production and inventory surplus at supply end pose constraints] last week, magnesium prices showed a trend of first weakening then strengthening. during the first half of the week, magnesium plants' quotations were only slightly firm on monday, and subsequently, under the influence of bargain down purchasing prices from downstream, the market transaction prices showed a downward trend. by wednesday, the mainstream transaction prices in the magnesium market were at 17,100-17,200 yuan/mt. some traders entered the market for procurement, coupled with the association's call for magnesium plants to maintain prices mid-week, leading to a growing reluctance to budge on prices among magnesium plants. thus, this round of price reduction cycle came to a temporary halt.