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Strait of Hormuz disruptions and Iran tensions are driving up aluminum prices and premiums. Aluminium Bahrain and Qatalum have cut output, while feedstock is tight. Rerouting via Port of Sohar or Saudi ports raises costs and delays. Buyers are turning to China, India, Russia, Canada, and scrap to offset risk. Prolonged disruption could reduce Middle East market share and reprice it as higher-risk supply.

Mar 24, 2026 17:22

What Could Change if Middle East Aluminum Trade Reroutes—and Supply Becomes Substitutable

China’s Silver Ingot Imports Hit Multi-Year High in February 2026, Reshaping Supply-Demand Landscape

The latest customs data showed that in February 2026, China’s imports of unwrought silver ingots with a purity of no less than 99.99% reached 206.76 mt, up 499% MoM and surging 5,910% YoY to a multi-year high. The rare opening of the import window drove significant changes in the supply-demand pattern of the domestic silver ingot market.

Mar 25, 2026 17:51

Soaring Rare Earth Ore Imports in Jan-Feb 2026 & Falling Demand Exacerbate Oversupply [SMM Analysis]

[SMM Analysis:Rare Earth Ore Imports Surge in Early 2026, Exceeding Demand and Causing Surplus] According to the latest data from the General Administration of Customs, from January to February 2026, China’s imports of mixed rare earth carbonate were about 3,013.7 mt, up 321% YoY. Over the same period, imports of unlisted rare earth oxides were about 12,860.4 mt, also posting a sharp increase of 209% YoY.

Mar 24, 2026 10:24

[SMM Analysis] 2026 Sodium-Ion Battery Competitive Landscape: Na‑ion Pioneers vs Lithium Battery Giants

In 2026, the correction in lithium carbonate prices drove up lithium battery production costs. Coupled with uncertainties in lithium resources supply, cost pressure across the new energy industry became increasingly prominent. Leveraging the advantages of abundant sodium resources, balanced distribution, and controllable costs, sodium-ion batteries have leapt from being a “backup option” for lithium batteries to a key direction for industry breakthrough...

Mar 20, 2026 15:00

[SMM Analysis] Sulfur Market: Supply Contraction & New Energy Surge Keep 2026 Tight.

In 2025, the sulfur market experienced wild swings under the dual impact of multiple supply-side contractions and the rapid release of demand from the new energy sector, with prices rising by more than 200 over the year. Looking ahead to 2026, the tight supply-demand landscape is expected to persist.

Mar 24, 2026 16:24

After the Chinese New Year holiday, China’s aluminum market continued to see an inventory buildup, with social inventory rising लगातार and repeatedly hitting highs for recent years. However, as the traditional peak consumption season gradually got underway, downstream pickup enthusiasm rebounded, pressure from aluminum ingot backlogs eased significantly, and the pace of inventory buildup has already shown signs of slowing...

Mar 22, 2026 23:24

Silver has seen one of the sharpest pullbacks in recent years within just a few weeks. From the high of US$97.30 on March 2, the price fell to US$61.21 by March 23, losing around 37%. For the market, this was an abrupt break from the previous momentum.

21 hours ago

All Copper Aluminum Lead Zinc Tin Nickel New Energy Photovoltaic Ferrous Metals Rare Earth Scrap Metals Minor Metals Precious Metals Car Others

LME Lead Fluctuated Downward and Closed Lower, SHFE Lead Bottomed Out and Rebounded While Remaining in the Doldrums [SMM Lead Morning Brief]

3 hours ago

Tight Circulation of Spot Lead Supported Firm Quotations, Downstream Purchasing as Needed Resulted in Mediocre Transactions [SMM Lead Morning Meeting Summary]

3 hours ago

Data: SHFE, DCE market movement (Mar 26)

21 hours ago

SHFE Lead Rebounded Slightly After an Intraday Dip and Closed with a Small Bearish Candlestick [Lead Futures Brief Review]

21 hours ago

LME Lead Bottomed Out, While SHFE Lead Retreated After Rapid Rise and Consolidated [SMM Lead Morning Brief]

Mar 26, 2026 09:06

Tight Warehouse Supply in Jiangsu, Zhejiang, and Shanghai, Stronger Support From Firm Spot Price Offers [SMM Lead Morning Meeting Summary]

Mar 26, 2026 08:58

Data: SHFE, DCE market movement (Mar 25)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Mar , 2026

Mar 25, 2026 15:49

Broad Gains in Nonferrous Metals Drove Prices Higher, SHFE Lead Edged Up Today [Lead Futures Brief Review]

Mar 25, 2026 15:46

LME Lead Rose Steadily Overnight, SHFE Lead Closed Slightly Higher [SMM Lead Morning Brief]

Mar 25, 2026 09:06

Primary-Secondary Lead Price Spread Inverted, Spot Order Procurement Favored Primary Lead [SMM Lead Morning Meeting Summary]

China's Lead Ingot Social Inventory Pulled Back, While Primary Lead Spot Discounts Narrowed Slightly [SMM Lead Morning Meeting Summary]

Mar 24, 2026 08:50

The Most-Traded SHFE Lead 2605 Contract Retreated After a Rapid Rise but Closed Higher, with Strong Wait-and-See Sentiment in the Spot Market Amid the Tug-of-War Between Sellers and Buyers [Lead Futures Brief Commentary]

Mar 23, 2026 16:42

Data: SHFE, DCE market movement (Mar 23)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Mar , 2026

Mar 23, 2026 16:01

Primary Lead Smelters' Operating Rate Rised to 62.59% in Three Provinces Last Week

[SMM Lead Market Bulletin] This week (March 12, 2026–March 18, 2026), the average operating rate of primary lead smelters in three provinces was 62.59, up 1.52 percentage points WoW from the previous week's operating rate.

Mar 23, 2026 09:43

LME Lead Posted a Three-Day Losing Streak; SHFE Lead Rose After Fluctuating at Highs [SMM Lead Morning Comment]

Mar 23, 2026 08:57

Geopolitical Disruptions Compound Sluggish Supply and Demand; Lead Prices Remained in the Doldrums in the Short Term [SMM Lead Morning Meeting Summary]

Mar 23, 2026 08:55

Imported Lead Concentrate Supply Eased after Chinese New Year, Cumulative Imports in 2026 up 14% YoY

According to customs data, lead concentrate imports in February 2026 were 124,580 mt in physical content, up 3.8% MoM and up 26.4% YoY; cumulative imports in January-February reached 252,241 mt in physical content, up 14% YoY on a cumulative basis. Over the same period, silver concentrate imports were about 148,600 mt in physical content, down 17% MoM and down 8% YoY; cumulative imports in January-February were 328,600 mt in physical content, down 1.27% YoY on a cumulative basis.

Mar 20, 2026 18:36

What Could Change if Middle East Aluminum Trade Reroutes—and Supply Becomes Substitutable

Mar 24, 2026 17:22

China’s Silver Ingot Imports Hit Multi-Year High in February 2026, Reshaping Supply-Demand Landscape

Mar 25, 2026 17:51

Soaring Rare Earth Ore Imports in Jan-Feb 2026 & Falling Demand Exacerbate Oversupply [SMM Analysis]

Mar 24, 2026 10:24

[SMM Analysis] 2026 Sodium-Ion Battery Competitive Landscape: Na‑ion Pioneers vs Lithium Battery Giants

Mar 20, 2026 15:00

[SMM Analysis] Sulfur Market: Supply Contraction & New Energy Surge Keep 2026 Tight.

Mar 24, 2026 16:24

Aluminum Inventory Buildup in China Slows Down, Turning Point to Emerge in Late March [SMM Analysis]

Mar 22, 2026 23:24

Silver crash as an opportunity? What supports the second half of the year after the 37% drop

21 hours ago

LME Lead Fluctuated Downward and Closed Lower, SHFE Lead Bottomed Out and Rebounded While Remaining in the Doldrums [SMM Lead Morning Brief]

3 hours ago

Tight Circulation of Spot Lead Supported Firm Quotations, Downstream Purchasing as Needed Resulted in Mediocre Transactions [SMM Lead Morning Meeting Summary]

3 hours ago

Data: SHFE, DCE market movement (Mar 26)

21 hours ago

SHFE Lead Rebounded Slightly After an Intraday Dip and Closed with a Small Bearish Candlestick [Lead Futures Brief Review]

21 hours ago

LME Lead Bottomed Out, While SHFE Lead Retreated After Rapid Rise and Consolidated [SMM Lead Morning Brief]

Mar 26, 2026 09:06

Tight Warehouse Supply in Jiangsu, Zhejiang, and Shanghai, Stronger Support From Firm Spot Price Offers [SMM Lead Morning Meeting Summary]

Mar 26, 2026 08:58

Data: SHFE, DCE market movement (Mar 25)

Mar 25, 2026 15:49

Broad Gains in Nonferrous Metals Drove Prices Higher, SHFE Lead Edged Up Today [Lead Futures Brief Review]

Mar 25, 2026 15:46

LME Lead Rose Steadily Overnight, SHFE Lead Closed Slightly Higher [SMM Lead Morning Brief]

Mar 25, 2026 09:06

Primary-Secondary Lead Price Spread Inverted, Spot Order Procurement Favored Primary Lead [SMM Lead Morning Meeting Summary]

Mar 25, 2026 09:04

Data: SHFE, DCE market movement (Mar 24)

Mar 24, 2026 15:52

SHFE Lead Prices Lacked Upward Momentum, and the Pattern of Doldrums Was Difficult to Change [Lead Futures Brief Review]

Mar 24, 2026 15:43

LME Lead Rebounded Strongly After Hitting Bottom; SHFE Lead Opened Higher With a Gap, Came Under Pressure, and Pulled Back [SMM Lead Morning Brief]

Mar 24, 2026 08:53

China's Lead Ingot Social Inventory Pulled Back, While Primary Lead Spot Discounts Narrowed Slightly [SMM Lead Morning Meeting Summary]

Mar 24, 2026 08:50

Mar 23, 2026 16:42

Data: SHFE, DCE market movement (Mar 23)

Mar 23, 2026 16:01

Primary Lead Smelters' Operating Rate Rised to 62.59% in Three Provinces Last Week

Mar 23, 2026 09:43

LME Lead Posted a Three-Day Losing Streak; SHFE Lead Rose After Fluctuating at Highs [SMM Lead Morning Comment]

Mar 23, 2026 08:57

Geopolitical Disruptions Compound Sluggish Supply and Demand; Lead Prices Remained in the Doldrums in the Short Term [SMM Lead Morning Meeting Summary]

Mar 23, 2026 08:55

Imported Lead Concentrate Supply Eased after Chinese New Year, Cumulative Imports in 2026 up 14% YoY

Mar 20, 2026 18:36

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