Latest Update in the SMM Solar Market

【SMM Guiyang Building Materials Weekly Inventory】As of March 26, the total inventory of building materials in Guiyang this week was 63,100 mt, down 11,700 mt WoW, a decrease of 15.64% WoW.

SMM Daily Review: Domestic Market Outperforms Overseas Market for Metals, SHFE Tin and SHFE Silver Rise Over 1%, Alumina Records Four Consecutive Gains, European Container Freight Rises Over 2%. At the close of the day, base metals in the domestic market collectively rose, with SHFE tin leading the gains at 1.26%, while other metals increased by less than 1%. Alumina's main contract rose 1.01%, marking four consecutive gains. Additionally, lithium carbonate's main contract rose 0.7%, silicon metal's main contract fell 1.31%, and polysilicon's main contract fell 0.26%. The main contract for European container freight rose 2.29%.

Refined Copper Rod Exports Showed Steady YoY Growth in January-February: Is Processing Trade a Flash in the Pan or the Future Mainstream? [SMM Analysis]: As the refined copper rod export market completed its structural reversal in 2025, the market paid close attention to the copper rod export situation from January to February 2025. Amid policy changes, can copper rod exports maintain stability in 2025? The following is a detailed analysis:

As Q1 of 2025 is about to end, during the Chinese New Year holiday, galvanizing enterprises gradually entered the holiday maintenance rhythm from early January. At the same time, due to the cold weather, most construction projects also gradually entered the holiday rhythm, and demand began to pull back. After the holiday, large factories resumed operations first, while small factories resumed operations around the Lantern Festival. The progress of project construction resumption was slow, and demand slowly climbed. In February, infrastructure investment increased slightly YoY, with most enterprises fulfilling pre-holiday orders. The operating rate of galvanizing producers slowly rose, but compared to the same period, the operating rate was relatively weak. By March, there was no significant "Golden March" peak season as in previous years. Will demand improve in Q2?

SMM Spot Aluminum Midday Review: Prices Fluctuated in the Morning, Reduced Aluminum Spot Arrivals Stimulated Narrowing Discounts. Inventory side, according to SMM's domestic aluminum ingot social inventory in three regions, the inventory of mainstream consumption areas for aluminum ingots on March 26 was 682,500 mt, down 8,200 mt from the previous day. In the short term, the peak season background combined with the continued growth trend of aluminum use in new energy is expected to maintain the destocking trend of social inventory. Additionally, with fewer arrivals in mainstream consumption areas such as Wuxi, the premiums and discounts in the spot market may narrow.

On March 25, global mobility technology company ECARX announced a partnership with Zeekr Intelligent Technology Holding Limited (Zeekr Group) to co-develop intelligent driving solutions based on NVI...

The 800,000 mt/year Beneficiation Plant Upgrading and Renovation Project of Sichuan Xinyuan Mining Co., Ltd. Commenced Construction. Recently, the groundbreaking ceremony for the 800,000 mt/year beneficiation plant upgrading and renovation project of Sichuan Xinyuan Mining Co., Ltd., a subsidiary of Western Mining Co., Ltd., was held. As the first green and intelligent mine on the western Sichuan plateau, the 800,000 mt/year beneficiation plant renovation project of Xinyuan Mining has a total investment of 255 million yuan, with a construction period expected to last 7 months. The project will adopt internationally advanced beneficiation technology and first-class equipment. Upon completion, it will achieve an annual ore processing capacity of 800,000 mt, with annual sales revenue exceeding 800 million yuan and tax payments of 150 million yuan.

【Galvanizing Operating Rate in Q1 Slightly Weaker Than the Same Period Last Year, How Will the Market Perform in the Future?】As Q1 of 2025 is about to end, during the Chinese New Year holiday, galvanizing enterprises gradually entered the holiday and maintenance rhythm from early January. At the same time, due to the cold weather, most construction projects also gradually entered the holiday rhythm, and demand began to pull back. After the holiday, large factories resumed operations first, while small factories gradually resumed operations around the Lantern Festival. The progress of project construction resumption was slow, and demand slowly climbed. In February, infrastructure investment increased slightly YoY, with most enterprises fulfilling pre-holiday orders. The operating rate of galvanizing slowly rose, but compared to the same period last year, it was relatively weak. By March, there was no significant "Golden March" peak season as seen in previous years. Will demand improve in Q2?