SMM

[Solid-state battery: Jianheng Aoneng's solid-state sodium salt battery officially enters mass production] The world's leading 720V high-voltage solid-state sodium salt battery has officially entered mass production at Jianheng Aoneng Technology Co., Ltd., located in Dalate Banner, Ordos City, Inner Mongolia Autonomous Region, marking China as the third country globally to achieve commercial mass production of solid-state sodium salt batteries.

Guinea has taken steps to strengthen its control over its bauxite export supply chain. The country’s Minister of Mines and Geology, Bouna Sylla, recently announced that 50% of all bauxite exports must be shipped on vessels under the Guinean flag. To facilitate this, Guinea has established its own shipping company, Guinéenne des Transports Maritimes (GUITRAM), which will handle a significant portion of bauxite transportation. In addition, the government has introduced the Guinea Bauxite Index (GBX) to increase transparency and maximize economic returns. In 2025, Guinea’s bauxite exports have risen sharply—up 37% year-on-year and 56% compared to 2023—making bauxite the second-largest contributor to global capesize shipping demand, surpassing coal.

[SMM Flash News] In H1, tariff disputes continued, jointly boosting domestic consumption from multiple perspectives such as capital and demand. However, due to time constraints, the implementation speed has been relatively slow. According to the SMM survey, galvanising enterprises' operations started at a high level but moved downwards after a higher opening in the first half of 2025.

[SMM News Flash]In the first half of the year (H1), tariff disputes persisted, jointly boosting domestic consumption from multiple perspectives such as capital and demand. However, due to time constraints, the implementation speed has been relatively slow. According to communication with SMM, the operating rates of galvanising producers in H1 2025 moved downwards after a higher opening. What were the reasons?

[SMM Flash News] This week, the operating rates in Henan, Jiangsu, and Inner Mongolia were basically flat WoW, while the operating rate in Anhui increased by 1.65 percentage points. A secondary lead smelter in Anhui, which had been under maintenance earlier, resumed production by firing up the furnace recently, but has yet to produce any lead. Production is expected to commence by the end of next week.

[SMM Flash News] The secondary lead smelters undergoing maintenance in Inner Mongolia have no production resumption plans for next week. It is expected that there will be no significant volatility in the operating rate in the coming days. There has been no obvious improvement in the scrap volume of scrap batteries and the consumption of new batteries. The supply and consumption of raw materials remain the main factors constraining production.

[SMM Flash News] In central China and some individual areas in east China, the ex-factory prices of secondary refined lead were at a discount of 200-75 yuan/mt against the SMM 1# lead average price during the week. Downstream enterprises showed moderate enthusiasm for inquiries and opted to purchase at preferential low prices. As smelting of secondary lead is still in a state of loss, secondary lead smelters are generally operating at low production levels. Some individual smelters have even chosen to extend their shutdown periods and purchase externally lead ingots to fulfill long-term contracts. Overall, the inventory of refined lead ingots in factory warehouses is expected to maintain a downward trend in the short term.

[SMM Flash News] It is reported that the supply of waste lead-acid batteries in the market remains tight, and recyclers have indicated that there has been no significant change in the purchase price. The inventory of raw materials at secondary lead smelters is hovering around the average level, which is only sufficient to maintain low-capacity operations. Due to the lack of upward momentum in lead prices, smelters have also not firmly followed the price increase in their purchases. Currently, the mainstream purchase price for waste electric vehicle batteries (excluding tax) at smelters ranges from 10,000 to 1,080 yuan/mt.

[SMM Flash News] The domestic supply of secondary crude lead remains scarce. As of July 11, 2025, the mainstream price of secondary crude lead (excluding tax) is reported to be around 15,950 yuan/mt. Secondary crude lead refineries in central China that halted production for maintenance due to equipment failures earlier have not yet resumed operations. Secondary crude lead refineries in northern China did not produce secondary crude lead in the first half of July due to raw material issues. Currently, secondary crude lead refineries in east China are the main suppliers of domestic crude lead, but their quotations remain firm due to limited production.