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SMM Spot Metal Prices

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Base Metals
Ferrous Metals
Product
Price Range
Avg.
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Price Charts
Date
Industrial-Grade Lithium CarbonateUSD/mt
Li₂CO₃≥99.2%
11,434.28 ~ 11,584.4
11,509.34
+132.82(+1.17%)
Dec 12,2025
Battery-Grade Lithium CarbonateUSD/mt
Li₂CO₃ ≥ 99.5%
11,596.91 ~ 12,047.28
11,822.1
+133.03(+1.14%)
Dec 12,2025
SMM Battery-Grade Lithium Carbonate IndexUSD/mt
Li₂CO₃≥99.5%
11,832.23 ~ 11,832.23
11,832.23
+135.79(+1.16%)
Dec 12,2025
Battery-Grade Lithium Hydroxide (Coarse Particles)USD/mt
LiOH≥56.5%
9,939.32 ~ 10,835.04
10,387.18
+94.56(+0.92%)
Dec 12,2025
Battery-Grade Lithium Hydroxide (Micro Powder)USD/mt
LiOH≥56.5%
10,783.75 ~ 11,184.08
10,983.91
+94.96(+0.87%)
Dec 12,2025
P-type Recharging PolysiliconUSD/kg
Si≥99.9999%
3.94 ~ 4.5
4.22
0(0.07%)
Jul 21,2025
P-type Dense PolysiliconUSD/kg
Si≥99.9999%
3.69 ~ 3.94
3.81
0(0.07%)
Jul 21,2025
Refined CobaltUSD/mt
Co≥99.8%
50,791.22 ~ 51,917.14
51,354.18
+284.86(+0.56%)
Dec 12,2025
Battery-Grade Nickel SulphateUSD/mt
Nickel content≥22%
3,432.79 ~ 3,445.3
3,439.04
+1.08(+0.03%)
Dec 12,2025
Cobalt SulphateUSD/mt
Co≥20.5%
11,259.14 ~ 11,696.99
11,478.07
+20.28(+0.18%)
Dec 12,2025
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SHFE

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AL2602(CNY/mt)
21775-385
CU2601(CNY/mt)
91550-1990
NI2601(CNY/mt)
114780-930
PB2601(CNY/mt)
17035-90
SN2601(CNY/mt)
329400-980
ZN2601(CNY/mt)
23305-210

LME

More
LME_AH_3M(USD/mt)
2875-20
LME_CA_3M(USD/mt)
11552.5-281
LME_NI_3M(USD/mt)
14620+10
LME_PB_3M(USD/mt)
1966-17.5
LME_SN_3M(USD/mt)
41125-755
LME_ZS_3M(USD/mt)
3139-59

Insights

Analysis
Secondary Copper Market Amid Soaring Copper Prices: Tight Supply-Demand Balance and Intensified Regional Divergence at Year-End
This week, the domestic secondary copper market continued its strong trend driven by multiple favorable factors, with copper prices rising by 2,800 yuan/mt over the week, once again hitting a record high. The price of bare bright copper in Guangdong followed the increase to 82,800-83,000 yuan/mt, up 1,600 yuan/mt within the week. Despite the continuous price surge, market trading did not recover simultaneously, showing a notable "price rise but thin volume" characteristic. Supply side, since the National Day holiday, many traders of recycled copper raw materials have adopted a cautious stance toward the year-end market, actively controlling inventory levels, which led to limited actual circulating supply during this round of price increases. Most traders adopted an order-based procurement model
SMM · 9 hours ago
AnalysisExclusiveIndustry
China's 2025 Copper Concentrate Imports Show Significant Increase in Inland Mining [SMM Analysis]
[SMM Analysis:China's 2025 Copper Concentrate Imports Show Significant Increase in Inland Mining]According to data from the General Administration of Customs, China imported 2.526 million dmt of cu cons and its concentrates in November 2025, a month-on-month increase of 3% and a year-on-year increase of 12.5%. From January to November, China's cumulative imports of copper ore and its concentrates reached 27.614 million dmt, an 8% increase year-on-year. SMM forecasts that China will import 2.6 million dmt of cu cons and its concentrates in December 2025, bringing the total annual imports to 30.26 million dmt, a year-on-year increase of 7.43%, with an expected increment of 2.094 million dmt.
SMM · 10 hours ago
AnalysisExclusiveIndustry
Latest Copper Concentrate Supply-Demand Balance Results: Annual Contract Negotiation Outcomes Imminent [SMM Analysis]
[SMM Analysis:Latest Copper Concentrate Supply-Demand Balance Results: Annual Contract Negotiation Outcomes Imminent ]As the year draws to a close, the fundamental dynamics of the global copper concentrate supply and demand are largely clear. Based on the latest global copper concentrate production and smelter operations, SMM estimates this year's copper concentrate supply-demand balance to be approximately a deficit of 170,000 metal tonnes. This outcome is more favorable than the previously projected deficit of 530,000 metal tonnes.
SMM · 11 hours ago
Analysis
In December, home appliances remained sluggish, dragging down the operating rate of copper pipe & tube.
According to SMM data, the operating rate of copper pipe & tube enterprises was 63.82% in November, up 1.45 percentage points MoM but down 17.86 percentage points YoY.
SMM · 3 days ago
Autonomous-truck developer Trunk Technology files for Hong Kong IPO
The company has appointed Guotai Haitong Securities as its sole sponsor, marking the official start of its push into public markets.
gasgoo · 3 days ago
Selected News
Concerns Over Ore Supply Tightness Highlight Supply Fragility, Tin Prices Continue to Shift Upward [Wenhua Observation]
SMM · 3 days ago
Black Sesame Technologies, DeepRoute.ai forge integrated hardware–software alliance for next-gen driver assistance
The collaboration brings together Black Sesame Technologies' chip expertise and DeepRoute.ai's software capabilities to jointly advance next-generation intelligent-driving solutions.
gasgoo · 3 days ago
Inovance Automotive, Innoscience debut GaN-based 6.6 kW OBC system on Changan EVs
On December 8, Inovance Automotive and Innoscience announced that their jointly developed 6.6 kW on-board charger, built on Innoscience's 650-volt GaN technology, has entered mass installation on Chan...
gasgoo · 3 days ago
Selected News
In November, automobile production hit a new record high, with multiple new automakers achieving their annual targets ahead of schedule. How will the full year unfold? [SMM Special Report]
SMM · 3 days ago
Selected News
Platinum and Palladium Futures Fluctuated Upward During the Week, Trading Volume Shrank Significantly [SMM Platinum and Palladium Futures Weekly Review]
SMM · 3 days ago
Read more >>

News flash

  • December 12 According to data from Iran's Minerals & Mining Industries Development & Renovation Organization (IMIDRO), Iran's aluminum ingot production reached 411,351 tons during the first eight months of the Iranian calendar year (March 21 - November 20, 2025), up 3% year-on-year from 400,425 tons during the same period last year.

    14 Dec, 2025 23:53:42
  • On December 14, 2025, Dong Mingzhu stated that while "aluminum replacing copper" is technically feasible in the air conditioning industry, Gree continues to insist on using copper materials. This is because aluminum has not yet met the same technical standards and reliability as copper.She emphasized that Gree will persist in researching aluminum substitution technology and will only adopt aluminum once it can fully replace copper.

    14 Dec, 2025 23:52:14
  • Recently, the Chongqing Municipal Commission of Economy and Information Technology issued an announcement officially confirming the capacity replacement plan for Chongqing Bofeng Aluminum Co., Ltd.'s 180,000 mt aluminum project, as well as the capacity exit matters for Chongqing Tiantai Aluminum Co., Ltd. and Chongqing Guofeng Industrial Co., Ltd. I. Project Overview: As the core enterprise in this capacity replacement, Chongqing Bofeng Aluminum Co., Ltd.'s 180,000 mt aluminum project is located in the Baitao Industrial Park, Fuling District, Chongqing. The main equipment includes 168 units of 400 kA electrolysis cells, with an approved capacity of 180,000 mt. The project is scheduled to commence on December 1, 2025, and is expected to be operational by October 30, 2026. Utilizing advanced large prebaked electrolysis cell technology, the project features low energy consumption and high efficiency. Upon operation, it will not only meet regional aluminum semis demand but also drive local employment and industry chain extension, injecting new vitality into Chongqing's industrial economy. II. Capacity Exit Situation: The key to capacity replacement lies in "replacing old with new." This plan involves the capacity exit of two enterprises:

    14 Dec, 2025 22:33:46
  • On December 9, Shanghai Yongmaotai Automotive Technology Co., Ltd. (hereinafter referred to as "Yongmaotai") announced that its wholly-owned subsidiary, Anhui Yongmaotai Automotive Parts Co., Ltd. (hereinafter referred to as "Anhui Parts"), plans to invest approximately 400 million yuan to construct an intelligent manufacturing project for new magnesium-aluminum alloy automotive and robot parts. This investment aims to deepen the layout in the intelligent manufacturing sector of magnesium-aluminum alloy parts, seize new opportunities in the robotics industry, further diversify the company's product line, and explore new profit growth points. The announcement indicates that the project will be located in Guangde City, Anhui Province, with a construction period of 24 months. The main content of the project includes land acquisition, construction of new production facilities, and procurement of production and public equipment such as melting equipment, die-casting machines, magnesium alloy semi-solid injection molding machines, and machining equipment.

    14 Dec, 2025 22:32:07
  • Explosion at Indian Aluminum Plant Leaves Three Seriously Injured, Details Revealed Recently, a sudden explosion occurred at the Green Anode Plant of Bharat Aluminum Company Limited (BALCO) in the Korba district of Chhattisgarh, India, leaving three workers seriously injured. Following the incident, the injured were urgently transported to the hospital for treatment. Local police have launched an investigation, with initial suspicions pointing to a mechanical malfunction as the cause. The company involved has not yet issued an official statement. This incident has once again brought the plant's safety management issues under public scrutiny, with past instances of exposed safety hazards raising further questions.

    14 Dec, 2025 22:31:23
  • Recently, the Indonesia Aluminum Project undertaken by Guizhou Construction Investment Group has achieved full completion, significantly ahead of the original schedule, setting a new benchmark for construction speed in the industry. From the initial commissioning of the first work section to the full completion of the entire project, two critical periods set new records for construction speed among similar projects in the industry. This outstanding performance demonstrates the speed and quality of Guizhou Construction Investment, earning high praise from the project owner. Located on a remote island in Indonesia with complex natural conditions and scarce resources, the project faced multiple challenges from the outset, including a tight construction schedule and difficulties in mobilizing equipment and personnel. Despite starting under unfavorable conditions, the project team adopted a determined approach of "treating the beginning as the decisive battle and the start as the final sprint." Through scientific planning and perseverance in overcoming difficulties, all constructors carried forward the fine tradition of "daring to tackle tough battles and capable of winning them." By deeply optimizing construction organization, vigorously innovating technical processes, and strictly implementing meticulous management, they quickly reversed the passive situation and accelerated the pace of Guizhou Construction Investment. From earth excavation to the installation of the first stee

    14 Dec, 2025 22:30:26
  • According to foreign media: Novelis recently announced an investment of €43 million (equivalent to $50.4 million) to strengthen its European logistics network, with the core objective of shifting more aluminum product transportation from road to rail. As a key part of the company's long-term sustainable development strategy centered on the principle of "rail over road," Novelis has procured 220 new Shimmns rail freight cars. Currently, 95% of material transportation between Novelis's 10 European production sites is already completed by rail, and the addition of this new fleet of freight trains will further consolidate this green logistics system. Unlike previously leased cars that could only transport a single type of material, these Shimmns freight cars offer greater flexibility and can simultaneously load aluminum coils, aluminum scrap, and aluminum ingots. This capacity upgrade is a core initiative by Novelis to optimize material transportation solutions between its production sites. With the new rail freight cars, Novelis plans to transport more aluminum ingots by train from its largest European secondary aluminum plant in Nachterstedt to the aluminum rolling mill in Arnefo, Neuss, for processing. Previously, due to rail capacity constraints, some aluminum ingots had to be transported by road trucks. Following this expansion in rail capacity, Novelis is expected to reduce approximately 2,000 road truck trips annually, corresponding to a reduction in carbon dioxide equi

    14 Dec, 2025 22:26:43
  • According to foreign media reports, the Australian government has officially announced a plan to collaborate with the New South Wales government and Tomago Aluminum to ensure the aluminum smelter continues production beyond 2028. The government stated that it will explore implementation plans for supplying electricity to Tomago Aluminum starting in 2028, emphasizing that this move is a critical step for the smelter itself, its employees, and the broader Hunter region. This public-private partnership aims to finalize a long-term fixed electricity price purchase agreement for the smelter while providing favorable financing arrangements to accelerate the development of renewable energy generation and ESS projects in New South Wales. Under the agreement, Tomago Aluminum is expected to invest at least AUD 1 billion in capital expenditure and major equipment maintenance over the next decade, including exploring feasible solutions to further reduce carbon emissions for the smelter.

    14 Dec, 2025 22:25:52
  • According to foreign media reports, the Guinea Bauxite, Alumina, and Aluminum Alliance (AGB2A-GIC), affiliated with Guinea International Group, has finally obtained formal approval from the Ministry of Mines and Geology to resume all operations suspended since May 2025. Informed sources revealed that the mining department ultimately selected the most reasonable and beneficial solution for Guinea's national interests: restoring the pre-incident status, whereby the Guinean government will directly collect mining royalties from the alliance and Shunda (SD) Mining, replacing the previous model of charging Axis Mining. Currently, Axis Mining, whose mining rights have been revoked, has filed a lawsuit in New York, seeking to protect its rights through arbitration. The alliance's chief executive has signed a protocol authorizing the enterprise to immediately resume operations in the mining license area of Guinea Smart Mining Company (GBT). The sources further disclosed that the agreement explicitly stipulates that, out of the agreed-upon $250 million, the alliance can commence operations in the former Axis Mining license area once $125 million is transferred to the Guinean treasury. If the involved Axis Mining mine resumes normal operations in December, it is expected to contribute approximately 40 million mt of supply throughout 2026.

    14 Dec, 2025 22:25:03
  • Recently, a delegation from Henan Zhengyuan New Material Technology Co., Ltd. visited Baotou Jinshan Economic Development Zone for a field trip and conducted on-site discussions regarding the implementation of a 300,000 mt high-performance aluminum alloy project. The framework agreement for Henan Zhengyuan New Material Technology Co., Ltd.'s 300,000 mt high-performance aluminum alloy project in Guyang County has been signed in Baotou Jinshan Economic Development Zone. With a total investment of 600 million yuan, the project is planned to cover an area of 160 mu and will be developed in two phases. The first phase involves the construction of production lines for 300,000 mt of high-performance aluminum alloy ingots and aluminum alloy bars, focusing on the R&D and production of high-performance aluminum alloy base materials. The second phase will expand into the high-end manufacturing sector, establishing production lines for 2 million aluminum alloy and magnesium alloy wheel hubs annually, thereby extending the industry chain and enhancing product value-added. Upon reaching full production, the project is expected to achieve an annual sales revenue of 5 billion yuan, contribute 50 million yuan in taxes annually, and create employment for 300 people. It will effectively optimize the industrial structure of Guyang County, strengthen the non-ferrous metal new materials industry cluster, and inject strong momentum into the high-quality economic and social development of the regi

    14 Dec, 2025 22:24:19
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