SMM

SMM reported on January 7: According to SMM, Baiyin Nonferrous Group Co., Ltd.'s Northwest Lead-Zinc Smelter launched a public tender to sell 100 mt of crude cadmium. Official information indicated that the bidding floor price was set at a discount of 3,000 yuan/mt to the SMM average price, with the highest bidder winning after the auction. The auction could proceed only if at least three bidders registered. The registration deadline was 17:00 on January 12, 2026, and the bidding was scheduled to start at 15:00 on January 13, 2026. Market participants noted that as cadmium prices had recently weakened and pulled back, this tender was particularly noteworthy, as it could reflect the strength of market demand to some extent and serve as a reference for whether cadmium prices would stabilize.