[SMM Tin News Flash: Russian Producer Seligdar Q1 Tin Concentrates Production at 921 mt]

Global demand for new-type energy storage surged, driving sustained strong orders for energy storage battery cells and a tightening supply-demand pattern for battery cells. Amid the robust momentum of operating at nearly full capacity, top-tier battery enterprises and second-tier producers ramped up investment, as the industry shifted from earlier cautious wait-and-see approaches to proactive capacity expansion. Wang Pengcheng, co-founder and president of Hithium, which ranked second globally in energy storage battery cell shipments, recently stated that the company's orders had been booked through 2027. More precisely, "by the end of 2027, all orders have been locked in ahead of schedule." He also candidly pointed out a phenomenon within the industry: although the capacity utilization rate of top-tier players already exceeded 95%, the reality was that there was overcapacity in outdated capacity while advanced capacity was severely insufficient. He emphasized that the industry should be vigilant against low-level redundant construction at this stage. When discussing Hithium's own expansion considerations, Wang Pengcheng declared, "All capacity going forward must be advanced capacity only. We will not build redundant capacity, and we will not expand unless we are leading.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 May , 2026

[SMM Analysis] After Sulfur Breaks Through $1,200: How Far Is the Ceiling? — The Ultimate Game Under International Supply Disruptions, Discussing China's Sulfur Policies and International Supplementary Supply Pathways