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Consulting Letter on the Addition and Discontinuation of SMM High-Grade NPI Price
Dec 10, 2024 17:30
As is well known, market participants interested in the nickel and stainless steel markets—including producers, downstream producers, dealers, traders, and other private and public organizations—need to reference and rely on price assessment reports featuring integrity and independence published by SMM (SMM Information & Technology Co., Ltd., hereinafter referred to as "we"). Therefore, it is extremely important for SMM to accurately reflect the true market prices. To solicit genuine suggestions and feedback on the high-grade NPI market prices, please write your response and preferably send it via email to the following address: jinmenghua@smm.cn and indicate whether your response can be made public. Comments requiring confidentiality may be used as references but will not be attributed. This consultation project starts on December 10, 2024, and will end on December 13, 2024. SMM will publish all responses, except those requiring confidentiality, by December 13, along with a summary of the survey results and related decisions. If these decisions result in substantial changes to the existing methodology, SMM may also issue subsequent announcements. According to the discussion at the closed-door price seminar of the APAC (9th) Stainless Steel Industry Conference 2024 and subsequent SMM survey results, we have made the following decisions regarding SMM high-grade NPI prices:
SMM China Rare Earth Market Daily on December 17
[December 17 SMM China Rare Earth Market Daily] Today, rare earth prices continued to fluctuate downward overall. With market purchasing activity remaining subdued, suppliers continued to offer goods at low prices, and low-price transactions were frequently reported. Buyers mainly adopted a wait-and-see approach, and under the influence of the mentality to rush to buy amid continuous price rise and hold back amid price downturn, market trading volume was not high today.
Dec 17, 2024 17:56
[SMM HRC Daily Review] Demand Struggles to Maintain Status Quo, Short-Term HRC Prices May Fluctuate
[Demand Struggles to Maintain Status Quo, Short-Term HRC Prices May Fluctuate]
HRC futures fluctuated today, closing at 3,493 in the afternoon. In the spot market, trading sentiment was moderately weak, with insufficient confidence among end-users. Downstream end-users purchased as needed, and HRC transactions remained sluggish.
On the fundamentals, this week’s impact from hot-rolled maintenance reached 296,600 mt, up 169,600 mt WoW. HRC supply showed a declining trend, but political and economic meetings, as well as real estate data, were lower-than-expected, leaving market demand stagnant. The fundamentals of HRC reflected weakness in both supply and demand.
On the cost side, ore prices showed no clear upward or downward trend, while coke is expected to see further price reductions, slightly weakening HRC costs.
In summary, low temperatures in north China suppressed project construction, making it difficult for HRC demand to maintain the status quo. Short-term HRC prices are expected to fluctuate.
Dec 17, 2024 17:36
[Electrolyte Weekly Report] New Progress in Two Major LiPF6 Projects! Updates on Billion-Level Additive Projects
【Electrolyte Weekly Report】
► Total Investment Exceeds 1 Billion Yuan! DFD's LiPF6 Project Passes Inspection
► 5.18 Billion Yuan! A LiPF6 Project Achieves New Progress!
► Total Investment of 10 Billion Yuan! New Updates on a Lithium Bis(fluorosulfonyl)imide and Ethylene Carbonate Project
► Electrolyte Demand Expected to Drop Back Slightly in December
► Hongyuan Pharmaceutical: Solid Sulphide Electrolyte Has Completed Kilogram-Scale Experiment
Dec 17, 2024 17:30
[SMM HRC Daily Transactions] Futures Market Fluctuates, HRC Transactions Are Average
[SMM HRC Daily Trading Volume] On December 17, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) surveyed by SMM totaled 13,740 mt, down 290 mt or 2.1% MoM.
The futures market fluctuated, with moderate market trading sentiment. End-users lacked confidence, downstream end-users purchased as needed, and HRC transactions were average.
Dec 17, 2024 17:27
Steel Mill Blast Furnace Maintenance Increases, Coke Prices Drop Three Times in a Row—Can Pre-Holiday Restocking Drive a Coke Rebound? [SMM Commentary]
[SMM Commentary: Increased Blast Furnace Maintenance at Steel Mills, Coke Prices Fall for the Third Consecutive Time, Can Pre-Holiday Restocking Drive a Coke Rebound?]
The transmission of favourable macro front to end-use demand still requires some time to materialize. After the market sentiment towards favourable macro front faded, the trading logic of coking coal and coke futures returned to being primarily driven by fundamentals. Spot coke supply was basically stable, but with a significant increase in blast furnace maintenance at steel mills recently, the market held strong expectations for a decline in pig iron production at steel mills. It is expected that steel mills' demand for coke may decrease accordingly, causing coke futures to continue the downward trend of the previous two trading days on December 17. As of the close of the daytime session on December 17, coke futures extended the decline of the previous two trading days, falling by 1.6% to 1,789 yuan/mt. Meanwhile, coking coal futures rebounded during the daytime session on December 17, ultimately closing up by 0.84% at 1,147 yuan/mt.
Dec 17, 2024 16:30
0.66 yuan/W! Sunport Power Won the Bid for the Module Procurement Order of the Distributed PV Project in Jiangning Low-Carbon Economy Industrial Park
[0.66 yuan/W! Sunport Power Wins the Bid for PV Module Procurement of the Distributed PV Project in Jiangning Low-Carbon Economy Industrial Park]
On December 17, the winning bid result for the PV module procurement of the 1.5 MW distributed PV project in Jiangning Low-Carbon Economy Industrial Park was announced. The winning company is Jiangsu Sunport Power Technology Co., Ltd., with a winning bid price of 990,000 yuan and a unit price of 0.66 yuan/W. This project involves the construction of a solar PV power station on the rooftop of the factory building of Jiangsu Hengda Power Technology Development Co., Ltd., with an estimated power station scale of 1.5 MW and the procurement of PV modules. (Polaris Solar PV Network)
Dec 17, 2024 16:06
Shandong Hi-Speed Group 1.05GW PV Module Frame Tender
[Shandong Hi-Speed Group 1.05GW PV Module Framework Tender] On December 16, Shandong Hi-Speed Energy Development Co., Ltd. launched the 2025 PV module framework agreement procurement tender, with a total procurement scale of 1.05GW. This project is divided into 2 sections:
Section 1: Tender for the procurement of N-type bifacial double-glass PV module (575Wp and above) suppliers by Shandong Hi-Speed Energy Development Co., Ltd. Main implementation content: procurement of N-type bifacial double-glass PV modules (575Wp and above), planned procurement quantity of 1GW, with 5 shortlisted suppliers.
Dec 17, 2024 16:03
Aluminum Prices Fall Below the 20,000 Mark, Secondary Aluminum Prices Slightly Decline Steadily [ADC12 Price Daily Review]
[ADC12 Price Daily Review] The decline in aluminum prices further expanded today, with SMM A00 aluminum prices pulling back by 260 yuan/mt from yesterday to 19,990 yuan/mt, retreating to a nearly three-month low, while secondary aluminum prices remained relatively firm.
Dec 17, 2024 13:45
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