Shanghai International Energy Trading Center: the margin collection standard for delivery invoices has been adjusted from 20% to 15%.

**SMM News, September 17:** Overnight, Federal Reserve members voted unanimously in favor of an interest rate hike, a rare outcome, and further consecutive rate hikes remain possible. Precious metals have been under sustained downward pressure on the back of the rate hike news, triggering a sudden pullback in rhodium prices following their earlier rally. Some market participants noted that selling liquidity has dried up markedly over the past two days, and forced liquidation at lower prices has caused rhodium to fall sharply.

[SMM Flash] Bravo Mining has reported further infill and step-out drilling results from its 100%-owned Luanga palladium-platinum-rhodium-gold-nickel project in Pará, Brazil. Results from the Central Sector included 53.85 m at 2.83 g/t PGM+Au and 0.16% Ni, including 5.01 m at 10.68 g/t PGM+Au and 0.40% Ni. Other intersections included 39.75 m at 3.02 g/t PGM+Au and 0.32% Ni and 52.45 m at 2.06 g/t PGM+Au and 0.11% Ni. Bravo said the latest drilling demonstrates mineralisation continuity at depth and provides potential to expand and upgrade the existing Luanga resource. Results from the ongoing programme are expected to support an updated Mineral Resource Estimate targeted for Q1 2027. Luanga's combination of palladium, platinum, rhodium and nickel makes the project relevant to geographical diversification of future PGM supply. However, the latest results are exploration intersections and do not constitute Mineral Reserves or future production guidance.