[SMM Analysis: The Rising Star of the EV Industry - Sodium-Ion Battery] SMM, January 8: With the continuous advancement of EV technology, the improvement of battery performance, as its core component, is particularly critical. Among various types of batteries, sodium-ion batteries, with their unique advantages, are gradually gaining a foothold in the EV market. Compared to traditional lead-acid batteries and the recently emerging graphene batteries, sodium-ion batteries demonstrate superior performance and cost-effectiveness.

[January 8 SMM China Rare Earth Market Daily] Today, under the influence of news factors, the market's aversion to high prices became more pronounced. Some suppliers actively offered goods at lower prices, and overall transaction prices began to decline. The quotations from separation plants and metal plants remained firm. It is understood that current low-price transactions in the market are mostly dominated by trading enterprises, while factories show low willingness to sell at lower prices.

Over 785 GWh! Latest Global Power Battery Installations Released! Chinese Companies Account for Nearly 70%" From January to November 2024, global power battery installations reached 785.6 GWh, up 26.4% YoY. Among the top 10 companies, 9 battery companies achieved positive growth, except for Panasonic. (Battery Network)

【SMM Analysis: Market Observes Steel Tender Progress, SiMn Alloy Market Temporarily Stable】 As of this Wednesday, the SiMn alloy 65/17 (cash) in north China was priced at 5,750-5,950 yuan/mt, while in south China it was 5,900-6,100 yuan/mt. On the spot market, mainstream steel tenders have entered the market, with most participants adopting a wait-and-see attitude. Many SiMn alloy plants are holding back from selling, while downstream steel mills are cautious in their purchasing. The SiMn alloy spot market remains temporarily stable. For January SiMn alloy prices, the majority of the market holds a bullish outlook. Most participants are optimistic about future price increases, mainly due to the strong sentiment among miners to stand firm on quotes, which is expected to drive up manganese ore spot prices and increase SiMn alloy production costs, providing strong cost support for SiMn alloy. Additionally, downstream steel mills are expected to engage in winter stockpiling before the Chinese New Year, leading to a recovery in demand for SiMn alloy. Overall, supported by costs and downstream demand, SiMn alloy prices are expected to fluctuate upward in the future. On the other hand, some participants hold a bearish view on future prices, primarily because the overall supply of SiMn alloy remains at a high level, and downstream steel mills provide limited support for SiMn alloy demand. In summary, the supply surplus of SiMn alloy has not yet been resolved, and SiMn alloy prices are expected to fluctuate downward in the future. A small number of participants believe that price changes are difficult to predict, mainly because SiMn alloy plants, supported by costs, have a weak willingness to sell at low prices. Meanwhile, downstream steel mills are cautious in their SiMn alloy purchases and tend to bargain down purchasing prices. In conclusion, the SiMn alloy market is experiencing a tug-of-war between sellers and buyers, and future prices are expected to remain uncertain.

[SMM HRC Daily Trading Volume] On January 8, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 11,040 mt, down 40 mt or 0.40% MoM. The futures market continued its weak trend for several days, with a sluggish trading atmosphere in the market. End-users mainly restocked on demand, while winter stockpiling demand remained difficult to release. Overall trading volume fluctuated rangebound on a MoM basis.

[SMM Daily Review on Coal and Coke] In terms of supply, the raw material side continues to offer concessions, but the sixth round of coke price cuts has been implemented. Some coke enterprises in certain regions are experiencing losses, which may lead to slight production cuts, slightly alleviating the coke supply surplus. On the demand side, steel mills are gradually releasing winter stockpiling policies, but transactions remain sluggish. Steel prices are declining, and steel mills may still seek profits from the raw material side. Overall, steel prices have dropped slightly, and the cost support for coke has weakened, leaving room for further coke price reductions.

According to the SMM survey, as of January 8, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 85.33%, up 0.26 percentage points MoM. The blast furnace capacity utilisation rate was 86.88%, up 0.83 percentage points MoM. The daily average pig iron production of the sampled steel mills was 2.346 million mt, up 15,100 mt MoM.

[SMM Analysis: Domestic Lead and Zinc Mines Gradually Enter Regular Shutdown Period - How Will Lead Concentrate Supply Reduction and Resumption Pace Unfold?] Domestic lead and zinc concentrates have gradually entered the regular Chinese New Year shutdown and maintenance period since December, with significant differences in holiday schedules among major domestic mines. A few mines in high-latitude regions are affected by factors such as climate, geology, and transportation, leading to a substantial increase in mining and processing costs. The longest shutdown and resumption preparation period can reach up to three months.

[Futures Market Rose While Spot Premiums for Jinchuan Nickel Dropped Back Slightly] Today, the mainstream spot premiums for Jinchuan No.1 Nickel were quoted in the range of 3,300-3,600 yuan/mt, with an average premium of 3,450 yuan/mt, down by 100 yuan.

[SMM Daily Review: Market Expectations Are Pessimistic, Ferrochrome Prices Fluctuate Downward] On January 8, the quoted price of high-carbon ferrochrome in Inner Mongolia was 7,000-7,200 yuan/mt (50% metal content), unchanged from the previous trading day...