Latest Update in the SMM Carbon Anode Market

This week, ferrous metals continued to rise initially before stabilizing, with most of the most-traded contracts completing the contract rollover. At the beginning of the week, the Central Ecological and Environmental Protection Inspection Team disclosed environmental issues in Tianjin and Hebei, with Tangshan in Hebei being singled out for unauthorized steel projects and additional capacity. Meanwhile, as December began, the two major domestic macro conferences were about to be held, strengthening market expectations and driving ferrous metals higher. In the latter part of the week, the SMM daily average hot metal output continued to decline, and raw material support weakened somewhat.

[SMM Tin Midday Review: Geopolitical Risks Including DRC Continue to Drive "Premium," High Tin Prices Expected to Persist in Short Term]

[SMM Tin Midday Review: Supply-Demand Tight Balance and Interest Rate Cut Expectations Resonate, SHFE Tin Futures Market Continues Overnight Strong Trend]

[ SMM Tin Midday Review: Tug-of-war between sellers and buyers intertwined with macro expectations SHFE tin breaks through 310,000 mark at midday ]

[SMM Tin Midday Review: SHFE Tin Retreats from Highs and Trades Under Pressure, Supply-Demand Standoff Awaits Macro Guidance]

[SMM Tin Midday Review: Supply-Demand Pattern in Tight Balance Coupled with Macro Tailwinds, SHFE Tin Breaks Through 310,000 Mark Strongly in Midday Trading]

This week, cobalt sulphate prices rose slightly, nickel sulphate prices dropped slightly, and lithium carbonate prices fluctuated. The price per % lithium for LFP black mass fluctuated along with lithium chemicals this week, and demand declined at the current stage as most enterprises had engaged in large-scale purchases last week. Meanwhile, due to continued volatility in lithium carbonate prices this week, a price spread emerged between upstream and downstream quotations.

This week, ferrous metals mostly showed an initial rise followed by stabilization, while coking coal and coke remained relatively weak. At the beginning of the week, a phone call between the Chinese and U.S. heads of state, the dissemination of minor policy drafts related to real estate, and the issuance of work plans for the classification and disposal of coal mines with an annual capacity below 600,000 mt in provinces and cities such as Shaanxi provided positive expectations from both macro and industrial perspectives, leading to a collective strengthening of ferrous metals. In the latter part of the week, plans by Mongolia and Russia to increase coal exports to China resulted in a noticeable weakening of coking coal and coke, compounded by rumors of Vanke's restructuring, which contributed to a temporary bearish sentiment.

[SMM Tin Midday Review: Geopolitical Risks in African Production Areas Continue to Escalate, SHFE Tin Returns to the 300,000 Yuan Mark]

[SMM Tin Midday Review: DRC Supply Risk Premium Accelerates Release, SHFE Tin Breaks Through 300,000 Yuan Mark with Strong Momentum]