On May 8, the local authorities in Guangzhou issued the "Application Guidelines for the 2025 Guangzhou Waste Power Battery Second-life Application and Recycling Projects" and commenced the project application process. The relevant requirements are as follows: The project will start accepting applications on May 26, with the deadline set for May 30.

The progress of the recall incident this week is as follows:

[SMM Daily Review: Heavy back-and-forth negotiations between upstream and downstream in the nickel pig iron market, with transaction prices under pressure in the short term] On May 16, the average price of SMM 8-12% high-grade NPI was 941.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...

According to SMM data, the mainstream premium for Indonesia's local laterite nickel ore remained at $26-30/wmt this week. Regarding the prices of ore used for pyrometallurgy, the HPM prices in Indonesia for H2 saw a rebound due to the increase in LME prices, leading to a slight increase in the prices of ore used for pyrometallurgy this week. The delivery-to-factory price for 1.6% nickel content of Indonesia's local laterite nickel ore from SMM was $53.3-57.3/wmt, up $0.7 or approximately 1.2% YoY from last week. In terms of the prices of ore used for hydrometallurgy, the delivery-to-factory price for 1.3% nickel content of Indonesia's local laterite nickel ore from SMM remained stable at $23-25/wmt, unchanged from last week.

Philippine nickel ore market remains generally stable, with a slight decline in CIF prices for medium-grade ore Indonesian ore HPM rises, but the premium for ore used for pyrometallurgy struggles to increase due to fundamental constraints

As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 84%-85%, and the FOB price of Indonesian MHP is $12,795 per mt (Ni contained).

On May 16, the SMM index price for battery-grade nickel sulphate was 27,752 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,760-28,230 yuan/mt. The average price remained stable compared to yesterday.