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Shanghai, July 23– Shanghai Metals Market (SMM) is thrilled to announce that we have maintained our membership at the International Lithium Association (ILiA) for four consecutive years since joining it in November 2022, serving as a long-standing and stable senior member of the association. Over the years, SMM has remained committed to advancing coordinated development across the global lithium sector and steadily deepening its cooperation with ILiA. We have continuously built exchange and networking platforms linking lithium industry participants in China and overseas, and organized numerous cross-border industry events. Besides, we have also regularly co-hosted online webinars on global lithium market insights alongside the ILiA, delivering full-industry-chain market data, sector trends and cutting-edge industrial research, fostering knowledge exchange and high-quality development within the lithium industry at home and abroad. Building on four years of solid cooperation and growing mutual industry trust, the two parties recently reached a newly upgraded cooperation model, ushering in an all-round deepening of their partnership: Martin Ma, Head of ILiA China, delivered a solo speech at the SMM New Energy Industry Chain Expo (CLNB) 2026 Li-ION BATTERY Africa 2026 secured partnership with ILiA. Tom Drabble, Global Sustainability Manager at ILiA, attended panel discussion on the topic of "Securing Stable Supply of Lithium, Cobalt, Graphite, and Phosphate – Africa's Role and Challenges". Astrid Karamira, EMEA Representative Director at ILiA, delivered a speech on the topic of "Material Trends - Decoding Global Supply-Demand for Critical Metals " at the SMM Li-ion Battery Europe 2024. Astrid Karamira participated in panel discussion at the SMM Li-ion Battery Europe 2025 under the topic of "Building a European Battery Raw Materials Ecosystem Driven by Policies – Supply Chain Challenges and Opportunities" Astrid Karamira spoke at the SMM Li-ion Battery Americas 2024 SMM CEO Logan Lu stated that the further upgrade of cooperation between the two parties is an inevitable choice in line with the globalisation and low-carbon development of the lithium industry. Relying on SMM's comprehensive industry chain data service capabilities, combined with the ILiA's platform advantages covering upstream and downstream industry leaders globally, the two parties will carry out deeper collaboration in market intelligence, ESG development, cross-border industry matchmaking, and battery circular economy in the future, driving complementary advantages, and mutual benefit of global lithium industry chain resources, and jointly building a green, stable and synergistically developing global lithium industry ecosystem. About the International Lithium Association (ILiA) The International Lithium Association (ILiA) was founded in 2021. It is an international non-profit trade association for the lithium industry, and has been upholding the three visions and missions of "giving a voice to the lithium industry, enhancing ESG and sustainable development in the lithium industry, and becoming an authoritative body for the lithium industry." In addition to 7 core members, the association also has over 30 associate members from the lithium industry value chain involved in business areas such as lithium mining projects, battery materials, battery manufacturing or engineering. Its associate members include SMM, Albemarle Corporation, Chengxin Lithium, Tianqi Lithium, Rio Tinto , etc.

Jul 23, 2026 09:08

SMM Is Delighted to Announce Four Straight Years of ILiA Membership While Deepening Global Lithium Cooperation

[SMM Analysis] Supply Deficit Narratives Lift CIF China Copper Premiums to Fresh 2026 Highs

SMM Analysis: Since late June, copper premiums cif China have been climbing. Spot premiums for registered copper arriving at China's ports from late July to August have recently breached triple digits, continuously setting new yearly highs...

Jul 17, 2026 18:23

John Paulson says we are in the early stages of a long-term bull market for gold

Published Wed, Jul 22 20264:41 PM EDT John Paulson, the hedge fund manager who made billions betting against the U.S. housing market before turning bullish on gold, said he believes the precious metal is only in the early stages of a long-term rally. “I do think we’re in the beginnings or the early stages of a long-term bull market for gold,” Paulson said on CNBC’s “The Exchange” Wednesday. “As people lose faith in paper currencies, gold as an alternative will continue to grow.” Paulson, whose wager against subprime mortgages became one of the most profitable trades in Wall Street history, shifted his focus to gold in 2009, arguing that the unprecedented fiscal and monetary stimulus following the financial crisis would ultimately weaken the U.S. dollar. Since then, gold prices have roughly quadrupled, topping the $5,000 threshold before pulling back. The billionaire investor said demand for bullion continues to broaden, led by central banks that have been adding to their reserves alongside growing private-sector interest. “Gold is becoming the most apt reserve currency in the world, replacing fiat currencies,” Paulson said. “The demand from central banks, for instance, has continued to grow, as has the private sector.” Paulson also argued that investors stand to benefit more from owning gold miners than bullion itself, particularly companies with large undeveloped reserves. “I think the greatest way to invest is to invest in early-stage gold stocks,” he said. Paulson made the comments as NovaGold Resources announced it would acquire Paulson Advisers’ 40% stake in the Donlin Gold project in Alaska. Paulson, who serves as co-chairman of NovaGold, said the company offers investors leveraged exposure to rising gold prices because of its sizable resource base. “NovaGold has 40 million ounces of gold indicated and measured resources and reserves at the market [capitalization] of $4.2 billion,” Paulson said. “I think the best way to play gold is through stocks like NovaGold, if not NovaGold itself.” Source： https://www.cnbc.com/2026/07/22/john-paulson-says-we-are-in-early-stages-of-a-long-term-bull-market-for-gold.html

Jul 23, 2026 16:17

SMM Visits Xingfa Aluminium’s Vietnam Factory to Jointly Explore Establishment of Vietnam Aluminium Pricing Benchmark

A delegation from Shanghai Metals Market (SMM) paid a visit to Xingfa Aluminium's Vietnan factory — Xingfa Vietnam, on July 20, 2026, and both sides engaged in-depth discussions covering the aluminum pricing mechanism in Vietnam, building international credibility, and coordinated industrial development. The delegation includes Logan Lu, SMM CEO, Kexin Lou, Director of Aluminum Fabrication, Lexi Chen, Key Account Manager for Overseas Information Sales, and CHIN KHAI YUEN, Senior Overseas Aluminum Analyst. Pushing for the Establishment of Globally Recognized Aluminum Price Benchmark in Vietnam During the visit, both sides analysed the current pricing landscape in Vietnam’s aluminum market. At present, Vietnam lacks internationally recognized aluminum price benchmark of its own. Foreign trades are mostly settled in US dollars based on LME plus MJP premiums, while domestic deals convert USD prices into Vietnamese Dong. Local players, including Chinese, Japanese, South Korean and Vietnamese enterprises, typically conclude contracts via LME + premium/discount pricing or fixed-price agreements before currency conversion. This fragmented pricing structure raises transaction costs and hinders the internationalisation of Vietnam’s aluminum sector. SMM noted that developing a widely accepted Vietnam aluminum pricing benchmark is critical to boosting pricing transparency and facilitating cross-border trade, and ranks high on SMM’s work agenda. To this end, SMM will conduct extensive surveys on major aluminum manufacturers in Vietnam, including Xingfa. SMM will officially launch the SMM Vietnam Aluminum Prices alongside a detailed methodology briefing at the SMM AICE 2026 Southeast Asia (Vietnam) Aluminum Conference in Ho Chi Minh City on 19–20 November . The two parties also exchanged views on primary aluminum supply and demand across Southeast Asia and the impacts of CBAM on the aluminum industry. In particular, CBAM and international carbon certification have emerged as core concerns for global aluminum participants. SMM will host a dedicated session at the AICE 2026 Southeast Asia (Vietnam) Aluminum Conference and invite international experts to share their insights. Deepening Southeast Asian Footprint: SMM Accelerates Market Rollout in Vietnam Since the beginning of this year, SMM has accelerated the establishment of its price service system in the Southeast Asian market. As of July 3, 2026, SMM has added a series of Southeast Asian 6063 aluminum billet processing fee price points and CIF Southeast Asia premium price points, with the Vietnam 6063 (non-homogenized) aluminum billet processing fees and price points already officially launched. In addition, the Vietnam Metal Recycling Forum (VMRF) visited SMM's headquarters in Shanghai on July 10, where the two parties reached multiple cooperation agreements on recycled metals industry chain services. Through localized collaboration and international resource integration, SMM is providing more accurate and authoritative data support for the aluminum industry chain in Vietnam and Southeast Asia. During this visit to Xingfa, the two parties reached multiple consensuses on aluminum price data collection, marketing promotion, and industry event organization. SMM stated that it will invite more international participants—including representatives from the Middle East, Indonesia, Malaysia, RUSAL, and Australian aluminum smelters—to jointly participate in the development of Vietnam aluminum pricing, promoting regional market integration. This survey has further deepened the strategic cooperation between SMM and Xingfa Aluminium and has also injected new momentum into the standardization and internationalization of Vietnam's aluminum pricing system. About Xingfa Aluminium Founded in 1984, Guangdong Xingfa Aluminium Co., Ltd. is a leading large-scale enterprise specialising in aluminum extrusion products in China. In 2011, Guangxin Holdings Group acquired a stake in Xingfa Aluminium, pioneering mixed ownership between state-owned and private capital within China’s aluminum extrusion sector and ushering in a new phase of steady expansion. Xingfa now operates nine production bases. In China, seven modern facilities are located in Sanshui and Nanhai (Foshan), Foshan Precision Manufacturing, Yichun (Jiangxi), Chengdu (Sichuan), Qinyang (Henan) and Huzhou (Zhejiang). Its global production network covers Australia and Vietnam, with growing scale advantages. Xingfa focuses on R&D, production and sales of aluminum extrusions across building and industrial segments. Its construction aluminum extrusions are widely used in high-end architectural curtain walls and system windows. While consolidating its core business, the company has expanded vigorously into industrial aluminum products, developing high-performance items such as new energy vehicle battery trays, crash beams and bus body components. Its products serve diverse sectors including rail transit, new energy vehicles, photovoltaics and electronics. Xingfa is further extending advanced aluminum processing technology into emerging areas such as energy storage and computing infrastructure. In recent years, Xingfa Aluminum has adhered to the principle that manufacturing is the foundation, fully leveraging its leading and driving role as the “chain leader” enterprise in Guangdong’s 100-billion-level high-end aluminum extrusion industry chain. Focusing on breakthroughs in key core technologies, it has promoted the industry chain and value chain towards the mid-to-high end. The company has successively received numerous honors, including the National Manufacturing Single Champion Enterprise, National Intellectual Property Demonstration Enterprise, National Technological Innovation Demonstration Enterprise, National Enterprise Technology Center, and National Green Factory. In 2025, Xingfa Aluminium ranked 475th in the Top 500 Chinese Manufacturing Enterprises, 147th in the Top 500 Guangdong Enterprises, and 32nd in the Top 500 Guangdong Manufacturing Enterprises. Join the Conversation at SMM AICE 2026

Jul 23, 2026 10:32

Ganfeng Lithium Posts Robust H1 2026 Earnings, Plans Expansion amid Rising Lithium Price

[SMM Lithium Battery] Soochow Securities research report noted that Ganfeng Lithium (002460.SZ) delivered results in line with our expectations, with the rise in lithium prices contributing to earnings flexibility.

Jul 16, 2026 15:09

This week (July 13-16), the copper scrap market operated under a triple framework of copper prices retreating after rapid rises, ongoing reverse-invoicing compliance constraints, and deepening high-temperature off-season. The most-traded SHFE copper contract surged to 105,020 yuan/mt mid-week, up nearly 2,000 yuan/mt from the start of the week. However, copper scrap prices were supported by compliance costs and suppliers holding prices firm, so the weekly price fluctuation was less than 1,000 yuan/mt. The price spread between primary metal and scrap widened from 2,445 yuan/mt at the start of the week to 3,923 yuan/mt, up more than 2,200 yuan/mt from the previous weekend. The widening spread was entirely driven by the unilateral rise in copper cathode. The resistance of copper scrap to decline was a key supply-side feature this week, which directly spurred hedging-related purchase demand from secondary copper rod enterprises. The supply side continued the structurally tight pattern seen since 2026. The first underlying constraint was reverse-invoicing compliance requirements: aftershocks from compliance inspections in Jiangxi and Hubei in south China persisted, and invoice quotas remained restricted in Shuyang, Jiangsu, leaving available compliant and deductible copper scrap persistently tight. The second was that after Document 770 eliminated irregular local tax rebates at the end of 2025, small and medium-sized copper scrap traders that previously relied on subsidies were continuously exiting the market, and overall available supply contracted markedly compared with the same period in previous years. Additionally, suppliers generally held a psychological defense of not selling cheap before copper prices break below 100,000 yuan/mt, and the selling pace throughout the week closely followed copper price fluctuations. At the start of the week when copper prices pulled back, strong hold-back sentiment prevailed, and tight supply left secondary copper rod enterprises struggling to find low-priced material. In mid-week when copper prices surged above 105,000 yuan/mt, suppliers’ willingness to sell at fixed prices increased, but because downstream scrap-using sectors had weak orders in the off-season and low acceptance of high prices, sales did not occur in large volumes. Most material was purchased by secondary copper rod enterprises using a hedging logic of buying raw material and shorting futures, not for actual production restocking. Many rod enterprises stopped pricing directly after purchasing enough to meet daily demand in the morning session and did not chase higher prices to buy. At the end of the week copper prices consolidated and pulled back, suppliers switched back to hold-back mode, and supply tightened again. Regional divergence persisted. In south China, due to compliance costs and slow capital turnover, bare bright copper purchase prices were 400-600 yuan/mt lower than in the north, maintaining the unusual structure of different prices for the same material. Traders maintained a low-inventory strategy of quick turnover, not daring to stockpile and bet on rising prices. The issue of payment collection cycles extending beyond two weeks remained unresolved, further limiting the release of supply elasticity. The demand side remained overall weak, with secondary copper rod enterprises reporting scarce new orders throughout the week. The price difference between copper cathode rod and secondary copper rod surged to 1,510 yuan/mt mid-week, touching the critical line of economic viability, but lacked sustainability and pulled back to 950 yuan/mt by the week's end. Meanwhile, secondary copper rods remained at a premium to copper futures due to rigid raw material costs. New orders at terminal wire and cable enterprises were weak, and they still held wait-and-see expectations that "copper prices have further downside room," with procurement mainly driven by rigid demand in pulses. Throughout the week, copper scrap transactions were largely driven by copper price fluctuations and hedging demand, while restocking volume for actual production was minimal. After copper prices pulled back at the week's end, rod enterprises' purchase willingness weakened further. The market displayed a weak equilibrium where "when copper prices rise, suppliers sell and rod enterprises collect for hedging; when copper prices fall, suppliers hold back and rod enterprises wait for lower prices." Currently, the market remains constrained by the dual restrictions of compliant invoices and off-season demand. Going forward, if the price difference between primary metal and scrap stabilizes above 1,500 yuan/mt and the implementation rules for reverse invoicing become clearer, this may trigger the release of some rigid demand; otherwise, the weak transaction pattern will persist.

Jul 19, 2026 13:56

Focused on H1-2026 customs data — a cliff in sulfur imports with a reshuffled source mix; acid exports collapsing under the export ban. Three charts decode the shifts in volume, source and momentum.

Jul 20, 2026 19:03

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[SMM Computing Power Midday Report] NVIDIA's Full Lineup Price Surge, H100 Reaches New High, 4090 Coordination Between Yangtze River Delta and Pearl River Delta

16 hours ago

[SMM Computing Power Daily] H100 Spot Rental Quotes Hit a New High of 85,000, H20 and A800 Long-Term Agreement Resources Enter Simultaneously

Jul 23, 2026 18:00

[SMM Computing Power Flash] A cloud service provider confirms it can accept H100 three-month short-term rentals, with priority to switch to long-term leases upon expiration.

Jul 23, 2026 13:15

[SMM Computing Power Flash] An intelligent computing cloud service provider completed a transaction for an A100 40G eight-card server, with a monthly rent of about 12,000 yuan.

SMM learned that a certain intelligent computing cloud service provider confirmed on July 23 that it had transacted an A100 40G eight-card server this week, with a monthly rental of approximately 12,000 yuan, consistent with the current mainstream quotation range in the market. The service provider, which operates its own data centers, recently reflected that the overall market was soft, with limited trading volume. As the previous generation of mainstream inference cards, the A100 40G still has certain market demand, but the pace of transactions has slowed down. The transaction price of 12,000 yuan/month matches the 12,000 yuan quotation given by a Sichuan-based IDC in mid-July, and the price of this card model has remained stable recently.

Jul 23, 2026 11:54

[SMM Computing Power Flash] Spot high-end computing power complete systems at 13 million, intermediaries pushing to 14.5 million

SMM learned at the WAIC conference that the spot high-end computing power complete machine is currently quoted at about 13 million yuan on the market, while intermediary parties are quoting between 13.5 million and 14.5 million yuan. First-hand supply is difficult to access directly, and transactions must be concluded through tail cargo owners, with intermediary levels commonly existing in the transaction chain. It is also learned that another high-end computing power GPU complete machine was quoted at about 3.9 million yuan two months ago, and its spot price has now risen to between 4.9 million and 5 million yuan, a significant increase.

Jul 22, 2026 17:01

[SMM Computing Power Flash] A domestic GPU producer says the cycle for switching from NVIDIA to domestic adaptation is difficult to determine.

SMM learned that a domestic GPU producer revealed during the WAIC conference that enterprises currently transitioning from NVIDIA to domestic GPUs need to comprehensively consider demand volume and migration time windows. The producer stated that due to significant differences in software adaptation workload across client scenarios, it was difficult to provide a unified commitment on adaptation completion time, and that "it depends on volume and time" was a key variable in determining the feasibility of the switch. This move reflects that domestic GPUs still face uncertainties in software ecosystem compatibility, and the large-scale switch from NVIDIA to domestic chips encounters an adaptation cycle bottleneck in the short term.

Jul 21, 2026 13:11

[SMM Computing Power Express] National Data Administration Builds 120,000 High-Quality Datasets, Totaling Over 1,565 PB

SMM learned that on July 20, the National Data Administration disclosed that as of the end of June, 120,000 high-quality datasets had been built nationwide across industries such as scientific research, industrial manufacturing, healthcare, and education, with a total volume exceeding 1,565 PB, up over 60% from the end of Q1. The seven data annotation pilot cities—Chengdu, Shenyang, Hefei, Changsha, Haikou, Baoding, and Datong—recorded an annotation volume surpassing 119 PB, with 140,000 practitioners. On the same day, Zhuhai launched the third batch of computing power voucher applications, offering subsidies of up to 50% of enterprises' actual computing power expenditures, capped at 2 million yuan per year per enterprise; Heilongjiang Province announced the proposed issuance list for the first batch of 2026 computing power vouchers. The volume of datasets grew by 60% in half a year, with the supply side of data factors accelerating markedly.

Jul 20, 2026 19:43

China Unveils 100,000-Card AI Super Cluster at 2026 WAIC Conference

On the opening day of the 2026 World Artificial Intelligence Conference (WAIC), China's first domestically built 100,000-card AI super cluster, Shuguang 8000 (Dengfeng), made its global debut and was recognized as the conference's "Treasure of the Hall." Currently, Shuguang 8000 has been connected to the National Supercomputing Internet and integrated into the national unified computing power network, capable of handling tasks such as scientific computing, large model training and inference, and industrial simulation. The system has completed over 300 key application optimizations, covering more than 20 scientific research and industrial fields, with over 70 applications achieving 10,000-card scale expansion.

Jul 17, 2026 16:24

[SMM Computing Power Daily] High-End Computing Whole Machine Quotation Surpasses 14 Million, Two-Month Surge of About 100%

July 16: A parts supplier quoted 14.5 million yuan for 16 units of spot high-end computing machines, compared with just over 7 million yuan two months ago, representing an increase of about 100%; 250 units of 910B are in demand, but only 20 units are clearly available for supply; monthly rental for a batch of Fujian 4090 eight-card units is 7,500 yuan; server DDR5 memory quotes are out, and the market is oversupplied.

Jul 16, 2026 18:00

[SMM Computing Power Flash] Server DDR5 Memory Stick Quotes Released: Samsung 96G Tax Inclusive 20,700 Yuan, Market Oversupply

SMM learned that on July 16, a server components wholesaler quoted tax-inclusive prices for multiple server DDR5 memory modules: Samsung 96GB 5600MHz at 20,700 yuan, inventory of 20 units with uniform part number; SK 32GB 1R×4 5600MHz at 7,600 yuan; SK 32GB 2R×8 5600MHz at 7,900 yuan; Micron 64GB 4800MHz at 14,100 yuan, inventory of 14 units. Market participants noted that the overall server memory market was oversupplied, in stark contrast to the tight supply of GPUs. As a key supporting component for computing power infrastructure, memory price trends can provide reference for calculating overall procurement costs.

[SMM Computing Power Express] An operator quoted a monthly price of 100,000 yuan for H100 including electricity, and another operator, after inquiring, deemed the price spread too large.

SMM learned, on July 14, when an east China operator quoted a price, it pointed out that the equipment must be placed in its data center, including electricity costs at 100,000 yuan/month/unit. Another east China operator indicated that it needed 12 H100 units and could locally find a price of 78,000 yuan/month, considered the 100,000 yuan quotation "unworkable," and proposed a plan to co-build a cluster and share profits to offset revenue, but was rejected by the supplier. SMM previously learned that the mainstream quotation range for H100 in the market was 75,000-80,000 yuan/month/unit, with a significant price spread between operators in different regions.

Jul 14, 2026 17:50

[SMM Computing Power Daily] Second-hand high-end computing power sold out in two to three days, and the price per unit of high-end computing power has risen to about 13 million.

July 13: About 20 near-spot units of high-end computing power sold out within two to three days; China data centers dismantling H100s to upgrade high-end computing power boosted secondary distribution supply; another high-end eight-card server’s per-unit price rose from about 9 million to about 13 million, with incoming stock absorbed within no more than a week; transactions were dominated by trust rather than going to the highest bidder, and intermediaries commonly added layer-upon-layer markups.

Jul 13, 2026 18:00

[SMM Computing Power Flash] The price of a single high-end computing power unit rose from about 9 million to 13 million, and incoming units are consumed within a week.

SMM has learned that a dealer disclosed that the current price per unit of a high-end computing eight-card server has risen from about 9 million yuan to approximately 13 million yuan, an increase of over 44%. High-end computing power can be absorbed within a week of arrival, and three to four prospective buyers negotiate price and contract details, with delivery going to whoever signs the contract and has funds ready first. The dealer stated that high-end computing transactions are dominated by trust relationships rather than simply going to the highest bidder; buyers must first agree to the quotation before inspecting the goods. The practice of intermediaries adding layers of price markups is common, and it is not uncommon for a purchase at 9 million yuan to be resold through multiple hands to 13 million yuan.

Jul 13, 2026 14:05

[SMM Computing Flash] A cloud service provider quoted H100 bare metal within 80,000, said there is no off-season, and supply remains tight.

SMM learned that a GPU cloud service provider disclosed on July 10 that the monthly rental quote for bare-metal H100 servers was within 80,000 yuan, with actual on-cloud transaction prices ranging from 75,000 to 83,000 yuan per month. Due to the premium for cloud services, these prices were higher than those of closed long-term agreements. Regarding the market, the provider noted that the market price for the 4090 was around 8,000 yuan per month, the 5090 was quoted at 12,000 yuan per month, and the highest quotes for the 5090 reached 13,000-14,000 yuan. Meanwhile, the source explicitly denied any off-season in the market, stating, "There has been consistent demand, and supply is relatively tight." On the high-end computing power side, the service provider stated they did not engage in this segment and described relevant market quotes as "essentially fake." Domestic Huawei Ascend computing power has not yet been launched but is planned for future introduction. The source also pointed out that domestically produced graphics cards have no hardware issues, but optimization still requires the work of engineers. SMM also learned that DeepSeek spent all of last year on adapting domestically produced graphics cards.

Jul 10, 2026 17:20

[SMM Computing Power Flash] WorkBuddy MAU Exceeds 20 Million, Inference Computing Demand Faces Pressure from User Growth, Queue Rate Over 50% Triggers Emergency Expansion

SMM learned that on July 8, Tencent WorkBuddy’s inference computing resource consumption peaked due to the launch of the Hy3 large model, with the afternoon queuing rate once exceeding 50%, and the team completed emergency capacity expansion that day. This computing resource crunch directly stemmed from the exponential growth in user scale — WorkBuddy’s monthly active users had reached 20 million and daily active users had exceeded 13 million. Unlike the “one-time heavy computation consumption” on the training side, inference computing consumption is linearly linked to the number of users: each interaction by every user generates continuous token consumption, and the daily office scenarios (document processing, code generation, agent tasks) of 13 million users create high-frequency, massive inference computing demands. Data from the OpenRouter platform shows that in May 2026, Chinese models accounted for six of the top ten spots in token calls, and domestic model inference traffic is rapidly catching up with mainstream North American models.

Jul 9, 2026 14:07

[SMM Computing Power Daily] H100 Spot in Inner Mongolia Quoted at 80,000; Two 128-Unit Orders Questioned; 4090 Transactions Hit Low.

July 8: 32 units of spot H100 in Inner Mongolia quoted at 80,000 yuan per month, 64 units in Xinjiang to go online in August; two large orders of 128 H100 units surfaced, suppliers said "no one in the market can supply"; operators bid 65,000–68,000 yuan per month for H100, a price spread of over 10,000 yuan from the market; RTX 4090 24G traded at 7,000 yuan, near the low end

Jul 8, 2026 17:57

[SMM Computing Power Express] Two buyers each seek 128 H100 units; suppliers question authenticity

SMM has learned that two large orders for leasing 128 H100 eight-GPU servers have appeared in the market recently. A buyer in Hangzhou, besides H100, also inquired about higher computing power, with the budget undisclosed; another buyer is negotiating with a supplier in Inner Mongolia. The supplier holds 64 H100 servers spot and offered 80,000 yuan, which the buyer considers high. Both demand orders are for 128 H100 servers, but a certain intelligent computing service provider reported that no single supplier in the current market can deliver 128 H100 servers in a cluster. Meanwhile, industry insiders pointed out that 128 H100 servers far exceed the needs of the commonly used large model DeepSeek V4pro full-blooded version. Based on the above information, SMM believes that there is a significant discrepancy between the reported demand and actual demand in the current market.

Jul 8, 2026 16:50

SMM Is Delighted to Announce Four Straight Years of ILiA Membership While Deepening Global Lithium Cooperation

Jul 23, 2026 09:08

[SMM Analysis] Supply Deficit Narratives Lift CIF China Copper Premiums to Fresh 2026 Highs

Jul 17, 2026 18:23

John Paulson says we are in the early stages of a long-term bull market for gold

Jul 23, 2026 16:17

SMM Visits Xingfa Aluminium’s Vietnam Factory to Jointly Explore Establishment of Vietnam Aluminium Pricing Benchmark

Jul 23, 2026 10:32

Ganfeng Lithium Posts Robust H1 2026 Earnings, Plans Expansion amid Rising Lithium Price

Jul 16, 2026 15:09

Copper Scrap Market Navigates Tax Compliance Amid Volatile Copper Price

Jul 19, 2026 13:56

[SMM Analysis] Decoding China's H1 2026 Sulphur and Sulphuric Acid Customs Data: Shifting Volume, Source and Momentum

Jul 20, 2026 19:03

[SMM Computing Power Midday Report] NVIDIA's Full Lineup Price Surge, H100 Reaches New High, 4090 Coordination Between Yangtze River Delta and Pearl River Delta

16 hours ago

[SMM Computing Power Daily] H100 Spot Rental Quotes Hit a New High of 85,000, H20 and A800 Long-Term Agreement Resources Enter Simultaneously

Jul 23, 2026 18:00

[SMM Computing Power Flash] A cloud service provider confirms it can accept H100 three-month short-term rentals, with priority to switch to long-term leases upon expiration.

Jul 23, 2026 13:15

[SMM Computing Power Flash] An intelligent computing cloud service provider completed a transaction for an A100 40G eight-card server, with a monthly rent of about 12,000 yuan.

Jul 23, 2026 11:54

[SMM Computing Power Flash] Spot high-end computing power complete systems at 13 million, intermediaries pushing to 14.5 million

Jul 22, 2026 17:01

[SMM Computing Power Flash] A domestic GPU producer says the cycle for switching from NVIDIA to domestic adaptation is difficult to determine.

Jul 21, 2026 13:11

[SMM Computing Power Express] National Data Administration Builds 120,000 High-Quality Datasets, Totaling Over 1,565 PB

Jul 20, 2026 19:43

China Unveils 100,000-Card AI Super Cluster at 2026 WAIC Conference

Jul 17, 2026 16:24

[SMM Computing Power Daily] High-End Computing Whole Machine Quotation Surpasses 14 Million, Two-Month Surge of About 100%

Jul 16, 2026 18:00

[SMM Computing Power Flash] Server DDR5 Memory Stick Quotes Released: Samsung 96G Tax Inclusive 20,700 Yuan, Market Oversupply

Jul 16, 2026 15:13

[SMM Computing Power Daily] High-End Computing Power Server Procurement Peaks at 14 Million, Payback Period Extends to Over Five Years

Jul 15, 2026 18:00

[SMM Computing Power Flash] A100-40G bare metal quotation reaches 12,000 yuan

Jul 15, 2026 15:41

[SMM Computing Power Daily] Operator’s H100 Quotation of 100,000 Including Electricity Sparks Controversy, High-End Computing Power Whole-Machine Rental Demand Hard to Match

Jul 14, 2026 18:00

[SMM Computing Power Express] An operator quoted a monthly price of 100,000 yuan for H100 including electricity, and another operator, after inquiring, deemed the price spread too large.

Jul 14, 2026 17:50

[SMM Computing Power Daily] Second-hand high-end computing power sold out in two to three days, and the price per unit of high-end computing power has risen to about 13 million.

Jul 13, 2026 18:00

[SMM Computing Power Flash] The price of a single high-end computing power unit rose from about 9 million to 13 million, and incoming units are consumed within a week.

Jul 13, 2026 14:05

[SMM Computing Flash] A cloud service provider quoted H100 bare metal within 80,000, said there is no off-season, and supply remains tight.

Jul 10, 2026 17:20

[SMM Computing Power Flash] WorkBuddy MAU Exceeds 20 Million, Inference Computing Demand Faces Pressure from User Growth, Queue Rate Over 50% Triggers Emergency Expansion

Jul 9, 2026 14:07

[SMM Computing Power Daily] H100 Spot in Inner Mongolia Quoted at 80,000; Two 128-Unit Orders Questioned; 4090 Transactions Hit Low.

Jul 8, 2026 17:57

[SMM Computing Power Express] Two buyers each seek 128 H100 units; suppliers question authenticity

Jul 8, 2026 16:50

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