Entering Q2, refinery maintenance further increased, and domestic supply continued to decline. However, with the arrival of previously shipped goods, port petroleum coke inventories began to enter a buildup cycle. Demand-side performance was weak, with downstream enterprises lacking purchasing motivation, and US-China trade frictions also cooled traders' buying sentiment, creating a strong wait-and-see atmosphere. However, considering shipping schedules and the arrival of previous orders, SMM expects petroleum coke imports in Q2 to still increase MoM. In the long term, with the continuation of trade frictions and further adjustments in domestic market supply and demand, subsequent petroleum coke imports are expected to decline.

Today, the DCE iron ore futures contract remained stable in the morning but pulled back significantly in the afternoon, trading in the doldrums throughout the day. The most-traded contract I2509 finally closed at 709, with a daily decline of 1.87%. Traders' willingness to sell was moderate, while steel mills showed good restocking demand, particularly at lower levels. The market transaction atmosphere was moderate.

NICKEL ORE Indonesian ore prices remained stable with a slight upward trend in pyrometallurgy, while hydrometallurgical ore prices may experience a downward adjustment. High-Grade NPI The supply-demand imbalance of high-grade NPI may emerge, and prices are likely to remain in the doldrums.

The lithium carbonate spot prices saw a notable decline this week, with the weekly average down by around 1,300 yuan/mt WoW. The average price of battery-grade lithium carbonate has fallen below 70,000 yuan/mt.

Today, the DCE iron ore futures moved downwards after a higher opening and remained in the doldrums throughout the day. The most-traded contract I2509 finally closed at 720.5, with a daily decline of 0.28%. Traders followed the market to sell goods.

SMM Analysis: According to data from the General Administration of Customs, China's copper foil imports in March 2025 were approximately 8,446.98 mt, up 8.26% YoY and up 22.40% MoM; cumulative imports for January-March 2025 were about 22,265.75 mt, up 1.35% YoY...

Did you know? The leftover coconut shells after drinking coconut water can actually be transformed into battery materials! Today, let's uncover how coconut shells are step-by-step turned into the "heart" of a sodium-ion battery—the hard carbon anode.

On April 21, 2025, at CATL's first Super Technology Day event, the highly anticipated sodium-ion battery was officially unveiled. The newly released sodium-ion battery includes two major product types: a sodium-ion power battery for new passenger vehicles and a sodium-ion 24V integrated start-stop battery for heavy-duty trucks. Their debut sparked strong reactions within the industry, becoming a focal point of attention.