SMM Analysis: Tin Ingot Imports and Exports in March Showed a Divergence Characterized by a Temporary Rebound in Imports and a Slowing Growth in Exports. In March, domestic tin ore imports stood at 8,300 mt (equivalent to 3,817 mt in metal content), down 4.83% MoM and 63.98% YoY, an increase of 255 mt in metal content compared to February (equivalent to 3,562 mt in metal content). Cumulative imports from January to March totaled 269,000 mt, down 55.44% YoY. Domestic tin ingot imports in March were 2,101 mt, up 12.41% MoM and 146.6% YoY. Cumulative imports from January to March reached 6,304 mt, up 6.99% YoY.

SMM Magnesium Ingot Spot Report: Thin Trading, Magnesium Prices in the Doldrums. SMM reported on April 21 that the mainstream quotations for 99.9% magnesium ingot in the main production areas were 16,700-16,800 yuan/mt, up 100 yuan/mt from the previous working day, with thin inquiries and a stalemate in supply and demand. The mainstream quotations for 99.9% magnesium ingot in the main production areas were 16,600-16,700 yuan/mt, down 100 yuan/mt from the previous working day.

According to SMM statistics, the inventory of aluminum billets in mainstream domestic consumption areas stood at 196,700 mt on April 21, down 12,500 mt WoW from last Thursday. On Monday, SHFE aluminum strongly broke through the 20,000 yuan/mt mark, putting slight pressure on processing fees, but the intraday rally boosted market sentiment. As demand recovered, processing fees rose slightly compared to yesterday, with overall trading being moderate. Today, the aluminum billet market in Foshan was quoted at 320/370, up 20; the processing fee in Wuxi was quoted at 370/320, up 20; and the processing fee in Nanchang was quoted at 370/320, up 10. (Unit: yuan/mt)

SMM Analysis: LFP Material Imports Surged in March. SMM, April 21: According to the latest data from the General Administration of Customs, China's LFP exports in March 2025 reached 1,367.8 mt, hitting a new historical high, up 129% MoM from February and up 861% YoY. In terms of price, the average export price of LFP in March 2025 was $5,891.4/mt, an increase of $406.56/mt compared to the average price in February.

SMM Analysis:According to the latest customs data, galvanized sheet exports in March 2025 reached 1.2902 million mt, while cumulative exports from January to March 2025 totaled 3.3874 million mt, up 14.28% YoY compared to 2.964 million mt in the same period of 2024. Overall, domestic galvanized sheet exports in March showed robust performance....

SMM Analysis: Under the Tariff Storm, the US Announces Strict Inspection of Re-export Trade, How Will Galvanized Sheet Exports Perform in April? According to the latest customs data, galvanized sheet exports in March 2025 reached 1.2902 million mt, with cumulative exports from January to March 2025 totaling 3.3874 million mt, a 14.28% increase YoY compared to 2.964 million mt in 2024. Overall, domestic galvanized sheet exports in March showed robust performance...

The domestic social inventory continued to decrease, providing some support for zinc prices. The most-traded SHFE zinc 2506 contract opened at 22,230 yuan/mt. At the beginning of the session, SHFE zinc fluctuated around 22,180 yuan/mt. Subsequently, bulls increased their positions, driving SHFE zinc to a high of 22,465 yuan/mt. It finally closed at 22,395 yuan/mt, up 345 yuan/mt, a gain of 1.56%. The trading volume increased to 195,000 lots, while the open interest decreased by 3,590 lots to 126,000 lots.

【SMM Iron Ore Price Transaction Summary】On April 21, prices increased by 10-15 yuan/mt compared to the previous trading day. In the main ports of Shandong, PB fines were priced at 765 yuan, and super special fines at 630 yuan. In the main ports of Tianjin, PB fines were priced at 790 yuan, and Mac fines at 760 yuan. (Unit: yuan/wmt)