January 17, 2025— According to SMM, aluminum wire and cable enterprises are expected to transition into the holiday phase next week. Some top-tier enterprises indicated that their production schedules are expected to remain favorable, with production departments maintaining operations even during the Chinese New Year. However, more enterprises, considering labor costs, plan holiday arrangements around the national holidays, with most resuming work between the eighth and tenth day of the lunar calendar, and have largely completed raw material stockpiling. Regarding post-holiday production plans, enterprises provided varying feedback. Based on statistical data, the State Grid's delivery volume in Q1 next year is still expected to decline. SMM believes that the status of orders on hand varies among enterprises, with staggered delivery periods likely. Additionally, due to temperature differences between the north and south, end-user enthusiasm for cargo pick-up varies across regions...

[SMM Analysis: How Has Zinc Oxide Performed Recently as the Chinese New Year Holiday Approaches?] According to SMM, many zinc oxide companies are expected to gradually begin their holiday break starting next week. How have zinc oxide companies performed recently before the peak holiday period? What expectations lie ahead after the holiday...

[Low-Grade Zinc Oxide Coefficient Drops Back Slightly as Chinese New Year Approaches] Recently, the low-grade zinc oxide coefficient has dropped back slightly. What are the reasons? What will be the future trend? ......

[Approaching the Chinese New Year Holiday, Zinc Downstream Shows Slight Divergence] This week, zinc downstream enterprises have gradually entered the holiday period, with galvanizing and die-casting zinc alloy enterprises increasingly taking breaks, leading to a significant decline in the overall operating rate.

[SMM Analysis: 2024 Review of China's Co3O4 Market] According to the SMM official website, the 2024 average of low-end prices for Co3O4 is 122,300 yuan/mt, and the average of high-end prices is 125,100 yuan/mt.

【How Will the Chinese New Year Break for Die-Casting Zinc Alloy Change This Year?】 The 2025 Chinese New Year is approaching. Recently, SMM communicated with die-casting zinc alloy enterprises to understand their holiday arrangements. This time, the sample includes a total of 26 die-casting zinc alloy enterprises, involving a total capacity of 1.0077 million mt/year, affecting zinc consumption of 54,585 mt...

[SMM Analysis: 2024 Review of China's Cobalt Chloride Market] According to the SMM official website, the 2024 average of low-end prices for cobalt chloride is 36,400 yuan/mt, and the average of high-end prices is 37,300 yuan/mt.

[SMM Analysis: Review of the EMM Market in 2024 and Outlook for 2025] I. Price Aspect: Quarterly Price Review: 2024 Q1: Supply side, some EMM plants resumed production after the Chinese New Year, and combined with the previous inventory buildup on the supply side, EMM supply remained at a relatively high level. Demand side, steel mills resumed production at a slow pace after the Chinese New Year, with purchasing sentiment remaining stable and spot transactions relatively steady. Overall, supply and demand showed a surplus, putting downward pressure on manganese prices. 2024 Q2: Due to unexpected disruptions in Australian ore shipments, manganese ore prices surged significantly. Although EMM primarily relies on domestic ore, the rise in manganese alloy prices stimulated a strong sentiment to stand firm on quotes for EMM. Supply side, manganese-related prices fluctuated upward, prompting idle EMM plants to resume production, leading to an increase in overall EMM production. Demand side, the significant rise in manganese alloy prices made EMM a more economical alternative raw material, boosting demand from downstream stainless steel mills. Supported by downstream demand and the sentiment to stand firm on quotes, spot prices for EMM fluctuated upward. 2024 Q3: Supply side, with a slight reduction in electricity costs, production costs for EMM plants decreased, and some EMM plants undergoing maintenance gradually resumed production, resulting in a relatively sufficient overall supply of EMM. Demand side, steel mills were affected by high temperatures and the rainy season, leading to increased shutdowns and maintenance, marking the traditional off-season for demand. Steel mills showed weaker enthusiasm for EMM procurement. Additionally, due to production losses, steel mills exerted pressure on raw material prices, showing low acceptance of high-priced EMM, causing spot prices for EMM to fluctuate downward.

New Orders for Silicon Enterprises Remained Sluggish During the Week; Sample Silicon Enterprises' Operating Rates Were Basically Stable" According to the SMM survey, the weekly production of sample silicon enterprises in Xinjiang (accounting for 79% of capacity) was 27,700 mt, with a weekly operating rate of 57%, which was basically flat WoW. The weekly production of sample silicon enterprises in Yunnan (accounting for 30% of capacity) was 11,095 mt, with a weekly operating rate of 82%, remaining basically flat MoM. The weekly production of sample silicon enterprises in Sichuan (accounting for 32% of capacity) was 2,757 mt, with a weekly operating rate of 32%, which declined WoW, while in-plant inventory fluctuated slightly.