Quick Bidding Function Launched
To enhance the efficiency of spot trading and better discover prices, the SMM Metal Trading Center launched a quick bidding trading model in April 2025. This model, while retaining the original bidding functions, further simplifies the participation process: traders initiating or participating in bids only need to complete the enterprise certification on the "Anhuida" trading platform to participate.
The first quick bidding event will be initiated by Xiamen Xiangyu New Energy Co., Ltd., confirmed as a procurement bid, to be held on May 9, 2025, with the product being 1,200 mt of battery-grade lithium carbonate, divided into two sections, the procurement standards and detailed requirements are listed below. Xiamen Xiangyu New Energy and the SMM Metal Trading Center sincerely invite interested seller enterprises to actively participate.
Xiamen Xiangyu New Energy, under Xiangyu Co., Ltd. (600057.SH), is a new energy supply chain service provider focusing on the lithium battery, PV, and ESS sectors. By initiating this procurement bidding activity on the Anhuida platform of the SMM Metal Trading Center, it aims to diversify its procurement channels, efficiently expand its supplier base, reduce transaction costs, and more effectively discover reasonable market prices. After the successful completion of the first event, Xiamen Xiangyu New Energy plans to regularly conduct procurement bidding activities on the Anhuida platform.
Detailed Information on the Procurement Bidding Event
- Procuring Company: Xiamen Xiangyu New Energy Co., Ltd.
- Event Time: May 9, 2025
Section One: 10:00-10:30
Section Two: 11:00-11:30
- Procurement Requirements: Battery-Grade Lithium Carbonate
- Section One: 600 mt
- Section Two: 600 mt
- Minimum Bid Quantity: 150 mt as the minimum bid quantity, requiring each winning bidder to deliver no more than three brands, with each brand's quantity not less than 30 mt
- Brand: No brand restrictions, but must meet the quality standards for the delivery of lithium carbonate futures contracts as specified in the GFEX Lithium Carbonate Futures and Options Business Rules
- Production Date: Produced in January 2025 or later
- Delivery Time: May-June 2025
- Goods Inspection: After the goods are delivered to the designated warehouse, they will be inspected by a third-party inspection agency designated by the buyer (selected from the list of designated inspection agencies for GFEX lithium carbonate futures). If the quality is qualified, the inspection fee will be borne by the buyer; if unqualified, the seller will bear the inspection fee and negotiate with the buyer for return, exchange, or refund
- Settlement Method: If the winning seller is a lithium carbonate producer, payment will be made upon delivery to the designated warehouse; if the winning seller is a lithium carbonate trader, payment will be made after delivery and passing the inspection (all deliveries must be accompanied by a quality inspection report that meets the GFEX battery-grade lithium carbonate standard, with other terms subject to the contract)
- Bidding Rules:
- Bidding Method: Bids will be placed based on the spot premiums/discounts over the GFEX LC2507 contract (decreasing from the starting premium/discount), with bidders required to note the available sales volume when placing their bids
- Starting Premium/Discount: To be announced after the Labour Day holiday
- Price Reduction Increment: 20 yuan/mt
- Pricing Method: Seller pricing
- Intention Deposit: 0
- Delivery Guarantee Deposit: As per the contract agreement
- Winning Bid Result: The lowest bidder wins (if the top bidder cannot meet the current section's procurement volume, the second-lowest bidder will win, with up to three sellers winning in each section)
- Extension Mechanism: If there is a bid within the last minute before the end of the event, the event will automatically extend for 3 minutes; if there is a bid within these 3 minutes, the event will continue to extend for another 3 minutes, until no bids are placed within 3 minutes
- Event Platform:
Anhuida Bidding Trading Platform: https://www.anhuida.com/jingjia
Event Details Page: https://www.anhuida.com/jingjia/detail/B0202504301011240-001
The SMM Metal Trading Center sincerely invites all suppliers to actively participate. If you are interested in participating, please log in to the Anhuida trading platform, visit the event details page, or contact the Anhuida business representative for registration.
Anhuida Business Representative: Yi Chen
Contact Number: 15901768289
