- Mar19
- 20:45
GAC Group Launches Huanwang Automobile for High-End Intelligent Vehicles in Collaboration with Huawei
GAC Group has officially established a new company, Huanwang Automobile (Guangzhou) Co., Ltd. (hereinafter referred to as "Huanwang Automobile"). A brand-new high-end intelligent automobile brand will also be announced soon. This marks GAC Group's further expansion in the intelligent vehicle ecosystem and high-end brand sectors, as well as the latest progress of the GH project. In the era of software-defined vehicles, GAC Group continues to build user value. Huanwang Automobile will create an independent high-end automobile brand, equipped with Huawei's intelligent driving software, intelligent cockpit, and intelligent vehicle control solutions. In terms of intelligence, ecosystem, and brand synergy, Huanwang Automobile will deeply integrate the respective strengths of GAC Group and Huawei, benchmarking Huawei's IPD (Integrated Product Development) and IPMS (Integrated Product Marketing and Sales) system experiences to establish a new process that spans product definition, marketing, and ecosystem services.
- 18:21
Shandong Alumina Refinery Cuts Liquid Caustic Soda Purchase Price by 30 Yuan/mt
[A Large Alumina Refinery in Shandong Lowers Liquid Caustic Soda Purchase Price] According to SMM, starting from March 19, a large alumina refinery in Shandong adjusted the purchase price of 32% ion membrane liquid alkali, reducing it by 30 yuan/liquid mt from the previous 910 yuan/liquid mt. The ex-factory price is set at 880 yuan/liquid mt ，equivalent to approximately 2,750 yuan/mt(price adjusted on a 100% concentration basis).
- 18:21
Shandong Alumina Refinery Cuts Liquid Caustic Soda Purchase Price by 30 Yuan/mt
[Shandong's Major Alumina Refinery Lowers Liquid Caustic Soda Purchase Price] According to SMM, starting from March 19, a major alumina refinery in Shandong adjusted the purchase price of 32% ion membrane liquid caustic soda, reducing it by 30 yuan/mt from the previous 910 yuan/mt. The ex-factory price under the two-invoice system is set at 880 yuan/mt (equivalent to approximately 2,750 yuan/mt on a 100% basis).
- 18:13
Huayou Cobalt's Subsidiary Inks Strategic Pact with WELION New Energy for Solid-State Battery Collaboration
[Huayou Cobalt: Subsidiary Signs Strategic Cooperation Agreement with WELION New Energy to Collaborate in the Solid-State Battery Field] On March 18, Huayou Cobalt announced that its subsidiary, Tianjin B&M Technology Co., Ltd., recently signed a "Strategic Cooperation Agreement" with Beijing WELION New Energy Technology Co., Ltd. (referred to as "WELION New Energy"). The two parties will collaborate in the solid-state battery field and share resources within the solid-state battery industry.
- 18:02
SHFE Zinc Experiences Slight Rebound; Eyes on Fundamental Performance
[SHFE Zinc Rebounds Slightly, Focus on Subsequent Fundamental Performance]: The most-traded SHFE zinc 2505 contract opened at 23,875 yuan/mt. After the opening, SHFE zinc fluctuated around the daily average line, dipping to 23,765 yuan/mt during the morning session. Entering the afternoon session, SHFE zinc climbed to a high of 23,960 yuan/mt, then pulled back slightly, and finally closed higher at 23,895 yuan/mt...
- 18:01
SMM Iron Ore Price Summary: March 19th Saw 10-15 Yuan Decline
[SMM Iron Ore Price Transaction Summary] On March 19, prices decreased by 10-15 yuan compared to the previous trading day; at Shandong's main ports, PB fines were 761 yuan, super special fines were 635 yuan, and PB lumps were 890 yuan; at Hebei's main ports, PB fines were 770 yuan, and Mac fines were 740 yuan (pricing unit: yuan/wmt).
- 17:47
SMM Aluminum Futures Brief: Mixed Market Signals Amid Trade Policies, Electricity Consumption Rise, and Alumina Price Decline
[SMM Aluminum Futures Brief: Mine Price Pullback Lowers Cost Center, Alumina and SHFE Aluminum Prices Under Pressure] Macro perspective, overseas trade protection and slowing growth create a bearish resonance; domestically, the trade-in policy continues to gain momentum, with three departments promoting the scrappage and renewal of high-emission trucks. Combined with a 1.3% YoY increase in nationwide electricity consumption from January-February, the divergence between domestic and international markets persists. Fundamentally, the recent tug-of-war between alumina buyers and sellers continues, with sporadic spot transactions in the alumina spot market and transaction prices seeing further slight declines. Spot alumina prices are expected to fluctuate downward in the short term. The traditional peak season effect of "Golden March and Silver April" continues to emerge, and the aluminum supply and demand structure is steadily improving. Aluminum prices are expected to be more likely to rise than fall in the near term, fluctuating downward. Short-term focus remains on changes in US tariff policies and the actual release of downstream demand.
- 17:42
Narada Power Secures Full Order Book and Recent Wins for Data Center Battery Solutions
[Narada Power: The Company's Data Center Orders on Hand Are Full, and New Orders Have Been Secured Recently] Narada Power released an announcement on the investor relations activity record, stating that the company's data center orders on hand are currently full, and new orders have been secured recently. Among them, high-voltage lithium battery products have performed particularly well. At the beginning of 2025, the company was awarded the bid for GDS's 2025 annual high-voltage lithium battery data center framework procurement project, serving as the primary bid winner. The capacity allocation for this project is no less than 1.2 GW. Recently, the company also won the bid for a data center lithium battery equipment procurement project from one of the world's largest software companies, with a bid amount of approximately 120 million yuan. With the rise of intelligent computing centers, data centers of internet enterprises, financial system data centers, and third-party data centers, the scale of the company's data center business is expected to grow.
- 17:40
Zhonglun New Material's PHA Lithium Battery Film Indirectly Applicable to Solid-State Batteries
[Zhonglun New Material: The Company's PHA Lithium Battery Film Can Be Indirectly Applied to Solid-State Batteries] Today, Zhonglun New Material stated on a public platform that its PHA lithium battery film can be indirectly applied to solid-state batteries. PHA is one of the layers of aluminum-plastic film, a packaging material for pouch lithium batteries. Its downstream direct customers are aluminum-plastic film manufacturers, such as PTL and Zijiang New Material, which then sell the aluminum-plastic film to battery producers. The company is a major supplier of the nylon layer used in aluminum-plastic film, excluding Japanese producers. The company closely monitors the latest developments in the solid-state battery industry. It is understood that pouch designs can effectively address the flexibility issues of solid-state battery electrolytes, reducing the risk of battery rupture under pressure or deformation and improving safety. Additionally, pouch batteries have advantages in terms of weight, energy density, and driving range. Therefore, from a technical perspective, pouch designs may be the most suitable assembly process for solid-state batteries.
- 17:37
NEV Market Competitiveness Boosts China's Exports Despite EU Policy Adjustments; Brass Billets Lag in New Energy Sector Adoption
The industrial competitiveness of the NEV market has significantly improved. Since 2021, China's NEV exports have experienced explosive growth and maintained strong momentum. Despite the impact of the EU's new energy policy adjustments in 2023, China's NEV exports still reached 2.01 million units in 2024, up 12% YoY, demonstrating strong market resilience and growth potential. The new energy sector is the main driver boosting future copper consumption growth, but for brass billets, the share of orders from this sector remains relatively small. The primary application areas for brass billets are still concentrated in traditional manufacturing, construction, hardware, and machining industries, with the demand growth in the new energy sector having a relatively minor impact on its overall market.
- 17:37
Shanghai Futures Exchange Approves Address Change for Jiangxi Guochu Logistics' Copper Futures Storage Point
According to the announcement by the Shanghai Futures Exchange, on March 18, it issued the [Announcement on Approving the Change of the Address Number for the Copper Futures Storage Point of Jiangxi Guochu Logistics Co., Ltd.]. Recently, the Exchange received relevant application materials from Jiangxi Guochu Logistics Co., Ltd. Based on the "Shanghai Futures Exchange Delivery Warehouse Management Measures" and other relevant regulations, it has been decided after research: 1. The application by Jiangxi Guochu Logistics Co., Ltd. to change the address number for the copper futures storage point is approved; 2. Effective from the date of this announcement, the address number for the copper futures storage point of Jiangxi Guochu Logistics Co., Ltd., located at No. 10 Jintian Road, High-Tech Industrial Development Zone, Yingtan City, Jiangxi Province, is changed to "No. 20 Gymnasium Road, High-Tech Industrial Development Zone, Yingtan City, Jiangxi Province"; 3. The total approved storage capacity for copper futures remains unchanged at 3,000 mt. All relevant units should attach great importance to this matter, effectively carry out all related tasks, and ensure the normal and orderly conduct of delivery operations. This is hereby announced.
- 17:33
Industrial Competitiveness Boosts China's NEV Exports Amid Minor Brass Billet Impact
The industrial competitiveness of the NEV market has significantly improved. Since 2021, China's NEV exports have experienced explosive growth and maintained strong momentum. Despite the impact of the EU's new energy policy adjustments in 2023, China's NEV exports still reached 2.01 million units in 2024, up 12% YoY, demonstrating strong market resilience and growth potential. The new energy sector is the main driver boosting future copper consumption growth, but for brass billets, the share of orders from this sector remains relatively small. The primary application areas for brass billets are still concentrated in traditional manufacturing, construction, hardware, and machining industries, with the demand growth in the new energy sector having a relatively minor impact on its overall market.
- 17:27
Canada Requests WTO Consultations Over US Steel, Aluminum Tariffs
[Canada Files WTO Dispute Over US Steel and Aluminum Tariffs] Canada has requested dispute consultations with the US at the World Trade Organization (WTO) regarding US import tariffs on certain steel and aluminum products from Canada. The request was notified to WTO members on March 13.
- 17:24
Guangzhou Unveils 2025 Key Construction Projects Plan with 905 Projects and 365.7 Billion Yuan Investment
On March 19, the Guangzhou Development and Reform Commission issued the 2025 Key Construction Projects Plan for Guangzhou. A total of 905 key construction projects are officially planned for 2025, with an annual investment plan of 365.7 billion yuan. Among the power grid projects are the 220-kilovolt and below transmission and transformation projects, the 500-kilovolt transmission and transformation projects, the Wanqingsha Southern Supporting Power Utility Tunnel (Phase I), Guangzhou Power Grid Small-Scale Infrastructure Projects, the Transmission Monitoring Center Production and Maintenance Facility, the ±800-kilovolt UHV DC Transmission Project from Southeastern Tibet to the Guangdong-Hong Kong-Macao Greater Bay Area (Guangzhou Section), and the 220-kilovolt Tangxia Flexible DC Back-to-Back Project.
- 17:24
HRC Daily Transactions Decline Amid Weak Futures and Price Drops
[SMM HRC Daily Transactions] Futures Remain Weak, Spot Transactions Decrease Again [SMM HRC Daily Trading] On March 19, the daily trading volume of HRC from sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 12,610 mt, down 1,730 mt or 12.1% day-on-day. Futures continued a weak trend today, spot prices dropped by 10-30 yuan/mt, and the market trading atmosphere returned to sluggishness. Low-priced purchasing as needed dominated the market, leading to a decline in daily trading volume.
- 17:23
SMM HRC Daily Trading Volume Declines 12.1% Amid Weak Futures and Sluggish Market
[SMM HRC Daily Trading] On March 19, the daily trading volume of HRC sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) monitored by SMM totaled 12,610 mt, a day-on-day decrease of 1,730 mt (-12.1%). Today, futures continued a weak trend, spot prices dropped by 10-30 yuan/mt, and the market trading atmosphere returned to sluggishness. Low-priced purchasing as needed dominated the market, leading to a decline in daily trading volume.
- 17:20
HRC Futures Market Weakens; Supply Pressure Rebounds Slightly, Bearish Sentiment Partially Digested
HRC futures market continued its weak trend today, with the most-traded contract closing at 3,348, down 0.75%. Supply side, this week's impact from HRC maintenance was 155,900 mt, down 36,800 mt WoW. Next week's impact from HRC maintenance is expected to be 149,700 mt, down 0.62 WoW, with supply pressure rebounding slightly. Demand side, futures continued to decline today, spot trading sentiment weakened, and daily transactions turned sluggish. Raw material side, according to the SMM survey, this week's daily average pig iron output increased by 19,000 mt, and the pace of resumption is expected to continue, potentially strengthening cost support. Overall, bearish sentiment has been partially digested, and the probability of continued inventory reduction in major HRC markets remains high. In the short term, the most-traded HRC contract is expected to stabilize at a low level, with previous lows likely to hold as support.
- 17:16
NMA Batteries Lag Behind High-Nickel Ternary Batteries in Energy Density and Cycle Life, "Cobalt-Free" Goal Remains Distant
Currently, nickel-manganese-aluminum (NMA) batteries can reduce the cobalt content to 5%-10%. However, in terms of energy density and cycle life, they still cannot rival high-nickel ternary batteries (NCM/NCA). In addition, CATL's "Qilin battery" still retains a 12% cobalt ratio, indicating that "cobalt-free" is not a goal that can be achieved in the short term.
- 17:15
SMM Rebar Daily: Declining Futures and Spot Prices Amid Weak Demand and Wait-and-See Sentiment
[SMM Rebar Daily Review: Mediocre Demand for Construction Materials, When Will the Market's Wait-and-See Sentiment End?] Today, rebar futures fluctuated downward, closing at 3,162, down 1.19% compared to the previous trading day. Spot prices in various regions declined to varying degrees, with overall transaction performance being poor.······
- 17:12
Iron Ore Futures Extend Weak Decline; Market Sentiment Remains Pessimistic
Today, iron ore futures continued their weak downward trend, with the most-traded I2505 contract falling to a new low in March, finally closing at 760, down 2.12% for the day. Traders showed low enthusiasm for selling; steel mills purchased as needed; and market transaction sentiment was sluggish. Mainstream transaction prices dropped by 10-15 yuan/mt compared to yesterday. According to an SMM survey, as of March 19, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 87.25%, up 0.64 percentage points MoM. The daily average pig iron production of the sample steel mills was 2.3909 million mt, up 19,000 mt MoM. Additionally, SMM predicts that pig iron production will increase further in the coming weeks, providing some support for ore prices. However, due to the impact of the trade war and weak confidence in end-use demand, market sentiment remains pessimistic, and iron ore prices continue to face downward pressure. Attention will be on the apparent demand and inventory levels of the five major steel products tomorrow...
- 17:11
Sulphuric Acid Demand Boosted by Phosphate Fertiliser and Chemical Industry Recovery
The main downstream markets for sulphuric acid include the phosphate fertiliser and chemical industries. After the Chinese New Year, the phosphate fertiliser market gradually improved. With the approach of the spring ploughing and fertilisation period, demand began to rise steadily, leading to an increase in orders for phosphate fertiliser enterprises and a corresponding rise in their operating rates, which had a significant impact on the demand for sulphuric acid. Meanwhile, in the chemical sector, industries such as titanium dioxide also showed signs of recovering demand after the holiday.
- 17:01
Daily Review: Coke Market Stabilizes Amid Supply Contraction and Increased Demand
[SMM Daily Review on Coal and Coke] In terms of supply, after the eleventh round of coke price cuts was implemented, coke enterprises saw a decline in profits, with some falling into losses. As a result, these coke enterprises reduced production, leading to a slight contraction in coke supply. On the demand side, recent increases in pig iron production at steel mills have driven up daily coke consumption. Some steel mills have restocked coke, reducing control over arrivals. Additionally, some traders have made moderate purchases, resulting in overall moderate sales of coke. In summary, coke inventories at coke enterprises have declined, the fundamentals of the coke market have improved, and cost support remains solid. The coke market is expected to remain stable this week.
- 16:29
SMM Daily: High-Grade NPI Sentiment Cools, but Strong Support Keeps Prices Stable
[SMM Daily Review: Market Sentiment for High-Grade NPI Cools Down, Strong Support Below Keeps Prices Relatively Stable with Strong Trend] On March 19, the SMM 8-12% high-grade NPI average price was 1,017.5 yuan/mtu (ex-factory, tax included), up by 3 yuan/mtu compared to the previous working day...
- 16:27
Tianjin's Small Discounts in March: Causes and Future Premiums/Discounts Outlook
【Why Did Tianjin Operate with Small Discounts Throughout March?】According to SMM's communication, Tianjin operated with small discounts throughout March. What are the reasons? How will premiums and discounts evolve in the future?
The local prices are expected to be released soon, stay tuned!
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