SMM

[SMM Nickel Flash] SMM December 5: According to SMM, a domestic high-grade NPI ex-factory price of 910-920 yuan/nickel unit was recently observed, with a weekly trading volume totaling 6,000 mt. Nickel content: 8-12%, delivery scheduled before December 2025 month-end.

[SMM Nickel Flash]SMM, December 5: According to SMM, some Indonesian high-grade NPI was recently transacted at a landed price of 900-910 yuan/nickel unit, with a total market transaction volume of 8,000 mt. Nickel content: 10-13%, delivery scheduled before the end of December 2025.

According to SMM data, as of December 4, the weekly new orders of enamelled wire enterprises decreased by 5.51 percentage points WoW. Copper prices broke through the 90,000 yuan/mt mark and continued to climb higher, while downstream purchase willingness remained sluggish. The enamelled wire industry has returned to a downturn, and the industry's operating rate is expected to drop significantly next week.

On December 5, the SMM #1 refined nickel price was 117,400-122,700 yuan/mt, with an average price of 120,050 yuan/mt, down 350 yuan/mt from the previous trading day. The mainstream spot premium quotation range for Jinchuan #1 refined nickel was 4,800-5,000 yuan/mt, with an average premium of 4,900 yuan/mt, unchanged from the previous trading day. The spot premium and discount quotation range for mainstream domestic brands of electrodeposited nickel was -200-400 yuan/mt.

Today, the central bank conducted 1,000 billion yuan in outright reverse repo operations using a fixed-amount, interest-rate tender, and multiple-price award method, with a maturity of three months (91 days), to maintain ample liquidity in the banking system. Data showed that 1,000 billion yuan in three-month outright reverse repos matured in December, and according to the central bank's announcement, this month's operation was a full rollover.

Anglo Asian Mining has entered into an agreement with Trafigura Group, commencing the sale of copper concentrate from its new Demirli mine. On November 3rd, Anglo Asian Mining signed a contract with Trafigura Group for the sale of copper concentrate produced at the Demirli mining site in Karabakh. Trafigura Group agreed to pay an advance of $25 million. In the latter half of November, Anglo Asian Mining made its first sale of copper concentrate to Trafigura Group, totaling 2,055 wet metric tons with a metal content of 351 tons.

[Xingfa Group: Subsidiary Signs 80,000 mt LFP Processing Agreement with Qinghai FinDreams] Xingfa Group announced that its wholly-owned subsidiary, Hubei Xingshun New Material Co., Ltd., signed the "LFP Entrusted Processing Agreement" with Qinghai FinDreams Industrial Co., Ltd. Under the agreement, Qinghai FinDreams entrusts Xingshun New Material to process and produce 80,000 mt per year of LFP products and will pay the processing fee. The agreement is valid for two years and can be automatically renewed for one year upon mutual consent.

[National Lithium Battery Material and Product Quality Inspection and Testing Center Passes Acceptance] According to the State Administration for Market Regulation, the National Lithium Battery Material and Product Quality Inspection and Testing Center has recently passed the on-site acceptance review organized by the administration. As introduced by the relevant person in charge of the National Lithium Battery Quality Inspection Center, the center focuses on "serving industry needs" and has established a comprehensive testing system. It possesses over 1,000 CMA certifications and CNAS accreditations, and is equipped with high-end precision instruments such as field emission electron microscopes, electrochemical X-ray diffractometers, and adiabatic calorimeters, as well as large-scale key equipment including high-voltage and high-current charge-discharge testing systems, power battery crush and nail penetration testers, and walk-in low-pressure test chambers. This enables precise testing across the entire process, from "material microstructure analysis" to "battery safety performance verification." The testing scope covers the physical, chemical, and electrical properties of lithium battery materials (cathode, anode, electrolyte, separator), the performance and reliability of lithium batteries (consumer-grade, power-grade, ESS-grade), as well as the physical, chemical, and electrical properties of second-life batteries and recycled materials. This comprehensively meets t