On August 8, the SMM battery-grade nickel sulphate index price was 27,212 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,190-27,690 yuan/mt, and the average price remaining unchanged from yesterday.

[SMM Tin Midday Review: SHFE Tin Continues to Fluctuate at Highs, with Expectations for US Fed Interest Rate Cut Continuing to Fester as Core Support] On the afternoon of August 8, 2025, the most-traded SHFE tin contract (SN2509) closed at 268,020 yuan/mt, up approximately 490 yuan from the previous day's settlement price, representing a 0.18% increase. Prices fluctuated at highs during the day, with the trading range narrowing to 267,260-268,790 yuan/mt. Market sentiment was cautious, with downstream order volumes remaining low. Meanwhile, the LME tin contract pulled back slightly to around $33,720 in the early Asian session, reflecting overseas bullish sentiment being disrupted by both macro policies and inventory divergence.

Today, spot #1 copper cathode in North China traded at a discount of 140 yuan/mt to 100 yuan/mt against the front-month contract, with an average discount of 120 yuan/mt, unchanged from the previous trading day. The transaction prices ranged from 78,240 yuan/mt to 78,340 yuan/mt, with an average price of 78,290 yuan/mt, up 20 yuan/mt from the previous trading day.

Since the beginning of this year, the open-pit mine of Bensteel Mining has faced unfavourable factors such as narrowing mining operation areas, harsh natural environments in the mines, increasing mining difficulties, heavy rainfall during the flooding season, significant changes in extreme weather conditions, and high temperatures. However, it has closely adhered to the production and operation philosophy of "benefit-centered" and the working principles of "accounting-based management" and "accounting-based production," thoroughly implementing the spirit of General Secretary Xi Jinping's important speech during his field trip to Liaoning and Bensteel Group of Ansteel Group.

On August 8, 2025: Recently, the Minerals Marketing Corporation of Zimbabwe (MMCZ) announced that it would consult with the Ministry of Mines to promote a comprehensive ban on the export of raw chrome ore, aiming to boost investment in domestic mineral deep processing...

[SMM Magnesium Morning Meeting Summary: Magnesium Prices Rise Slightly, Strong Demand in Magnesium Powder Market] Yesterday, the magnesium market generally showed a generally stable with slight rise trend. The price of dolomite, a raw material, remained stable with sufficient supply. However, demand rebounded as magnesium plants resumed production, and it is expected that prices will remain firm in the future. Ferrosilicon futures fell by 1.22%, but spot supply was tight, with strong price support at the bottom, and it may fluctuate rangebound in the short term. For magnesium ingots, the quoted price in the Fugu area increased to 17,250 yuan/mt. Low inventory supported manufacturers in refusing to budge on prices, and transactions recovered to some extent. However, the buying and selling game in the overseas FOB market intensified, with quoted prices narrowing slightly to $2,380-$2,390/mt. Magnesium alloy prices fluctuated with raw materials, but due to the low processing fee and the inverted price spread between aluminum and magnesium, profits were under pressure. It is expected that prices will remain firm in the short term. Magnesium powder demand was strong, with increased transaction volumes driving enterprise procurement. Prices remained high, with FOB quoted prices at $2,510-$2,580/mt. Overall, magnesium ingots and magnesium powder have strong support, while ferrosilicon and magnesium alloys may continue to fluctuate.