Latest Update in the SMM Battery Recycling Market

This week, ferrous metals were in the doldrums. Last Sunday afternoon, a converter explosion occurred unexpectedly at a steel mill in Inner Mongolia, prompting the blast furnace at the facility to be shut down for maintenance. The incident also heightened market expectations for stricter safety measures in steel production, leading to a slower-than-expected recovery in overall hot metal output. At the beginning of the week, iron ore led the decline in ferrous metals, with finished products following suit. In the latter part of the week, the decline in hot metal output was milder than anticipated, and coupled with Trump’s shift in stance—abandoning tariff threats—market sentiment improved, resulting in a mild rebound in futures from lower levels. In the spot market, weaker futures dampened speculative sentiment, with restocking primarily driven by rigid demand at low prices. Some spot cargoes were sold at discounted prices, and construction material demand faced additional pressure due to weather conditions.

[SMM Tin Futures Review: SHFE and LME Tin Prices Strengthened Simultaneously, Spot Cargo Trading Sluggish Amid Macro Turmoil]

[ SMM Tin Noon Review: The most-traded SHFE tin contract sn2603 fluctuated upward today, with geopolitical risk aversion driving and rising inventory concerns coexisting. ]

[SMM Tin Midday Review: Macro Support Weakens as the Most-Traded SHFE Tin Contract Fluctuates at Highs, Spot Trades Remain Sluggish]

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Holds Up Well Within Range, Pre-Holiday Restocking Remains Sluggish Amid High Prices]

[SMM Tin Futures Review: The Most-Traded SHFE Tin Contract Fluctuated and Closed Up 3.08%, Downstream Demand Significantly Suppressed by Prices]

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Opened Slightly Higher in the Morning Then Declined, Market Trading Turned Cautious Amid High Price Volatility]

[SHFE Tin Review: The most-traded SHFE tin contract in the doldrums near 390,000, market trading atmosphere recovers after high prices loosen]

SMM reported on January 19 that on January 16, 2026, the Ministry of Industry and Information Technology, together with the National Development and Reform Commission (NDRC), the Ministry of Ecology and Environment, the Ministry of Transport, the Ministry of Commerce, and the State Administration for Market Regulation, jointly issued the "Interim Measures for the Recycling and Comprehensive Utilization of Waste Power Batteries from New Energy Vehicles (NEVs)." This new management measure, being a joint departmental regulation, carries mandatory legal force, fundamentally changing the previous situation where guidance documents lacked sufficient binding power.

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Was in the Doldrums Around 390,000, and the Market Rationally Released Some Transactions]