Hyundai Motor has launched the Calligraphy Black Ink, the top trim of its electric SUV IONIQ 9, in the U.K. and European markets. The powertrain is the same as the existing Calligraphy trim. The model is equipped with a dual-motor all-wheel-drive system and a 110 kWh battery, delivering a combined output of 422 hp. Its driving range is up to 372 miles, or about 600 km, on a single charge based on the WLTP standard. The model is offered in both six-seat and seven-seat configurations.

SMM August 12 news: Metal market: As of the midday close, base metals in the domestic market almost all rose. SHFE copper edged up 0.27%, SHFE aluminum gained 0.93%, SHFE lead rose 0.25%, SHFE zinc climbed 0.7%, SHFE tin advanced 1.44%, and SHFE nickel dipped 0.16%. In addition, the most-traded casting aluminum futures rose 0.74%, the most-traded alumina contract gained 0.93%, the most-traded lithium carbonate contract surged 2.97%, and the most-traded silicon metal contract edged up. The most-traded polysilicon futures jumped 3.69%. Ferrous metals all rose. Iron ore edged up 0.28%, rebar gained 0.37%, and HRC added 0.34%. Stainless steel increased 0.24%. For coking coal and coke: the most-traded coking coal contract rose 2.17%, and the most-traded coke contract climbed 1.75%. For base metals in the overseas market, as of 11:46, LME metals all advanced. LME copper edged up 0.27%, LME tin gained 1.14%, LME zinc rose 0.5%, and LME aluminum, LME lead, and LME nickel all rose within 0.3%. In precious metals, as of 11:46, COMEX gold gained 0.54%, and COMEX silver climbed 1.12%. For domestic precious metals: SHFE gold rose 0.69%, and the most-traded SHFE silver contract advanced 1.22%. Additionally, as of the midday close, the most-traded platinum futures slipped 0.18%, and the most-traded palladium futures dropped 1.09%. As of the midday close, the most-traded container shipping futures contract rose 1.44% to 1,585.5 points. As of 11:46 on August 12, some futures midday market quotes: Spot market and fundamentals Aluminum: Futures continued to rally today, pressuring the South China spot market with “three mountains.” First, the reality of high absolute prices and elevated spot premiums spurred suppliers to rush to sell and cash out… Macro front Domestic: [PBOC Reverse Repo Operations Result in Net Withdrawal of 5 Billion Yuan Today] The PBOC did not conduct reverse repo operations today, as 5 billion yuan of 7-day reverse repos matured, resulting in a net withdrawal of 5 billion yuan for the day. [Guangdong's Electricity Load Hits New High for Fourth Time This Year] At 13:47 on August 11, the Guangdong power grid’s electricity load hit a new high for the fourth time this year, reaching 175.7 million kW, up 6.53% YoY. Currently, Guangdong's power supply is stable and orderly. On the same day, electricity loads in cities within Guangdong such as Yangjiang, Shantou, Jieyang, and Chaozhou also hit all-time highs. (Released by Guangdong) [C919 Domestically-Made Large Aircraft Officially Operates International Commercial Route] Starting today (the 12th), Air China’s route from Beijing to Ulaanbaatar, the capital of Mongolia, will be operated by the domestically-made C919 large aircraft, marking its official entry into scheduled international commercial route operations. (CCTV News) US Dollar: As of 11:46, the US dollar index rose 0.05% to 99.87. The market is awaiting the upcoming US July CPI data for clues on the US Fed’s rate path. According to CME FedWatch: The probability of the US Fed maintaining rates at its September meeting is 52.0%, with a 48.0% chance of a cumulative 25 bps hike. For the October meeting, the probability of rates staying unchanged is 38.7%, with a 49.0% chance for a cumulative 25 bps hike and a 12.2% chance for a cumulative 50 bps hike. (Jin10 Data App) Wall Street Journal reporter Nick Timiraos said the market will focus on the MoM change in the July inflation data released on Wednesday, as more FOMC members indicated that inflation readings in the coming months will determine if their forecast that "inflation will fall back to 2% over the next two years" remains achievable without further rate hikes. New US Fed Chair Warsh recently dismissed this framework, which links sensitive policy forecast revisions to high-frequency data. He previously stated he does not see much practical value in the US Fed's current "data-dependent" policy. Nick also indicated that part of the working group Warsh established seems designed to help build a new framework to replace the old one. However, until the new framework is clear, the old one appears to remain in effect. Glenmede strategists commented on the US July CPI, saying investors are expecting another relatively mild inflation report, with the headline CPI forecast to be up 3.4% YoY and core price pressures remaining manageable. With US-Iran tensions escalating, oil prices climbed further in July, suggesting the energy sector could again bring pressure. However, the market's reaction this time was more measured, aided by proactive countermeasures and strategic reserve releases that maintained stability in oil supplies. The US Fed has ample time before its next meeting to assess two inflation reports, giving it more time to evaluate whether energy price pressures remain contained or are starting to broaden—a distinction that could significantly influence the future policy path. Other Currencies: According to foreign media reports, yen traders are ramping up operations in the options market ahead of key US inflation data. Facing a lack of market consensus on the yen's future direction, they are using derivatives to enhance trading flexibility. One-week implied volatility for USD/JPY options rose for a second consecutive session on Wednesday, after the gauge had fallen for five straight sessions. The reason being traders positioning ahead of the US inflation report, which is expected to impact the US Fed's monetary policy outlook and the dollar's direction. Longer-dated option volatility also edged up slightly. The rise in volatility reflects a divided market view. Over short-term horizons, lingering concerns about coordinated US-Japan intervention continue to drive higher trading prices for USD/JPY put options relative to call options, indicating investors are seeking protection against a sudden decline in the exchange rate. However, over longer horizons, investors continue to buy call options, betting on a renewed rise in USD/JPY. (Jin10 Data App) Data: Today, data releases include the US July unadjusted CPI YoY, US July seasonally adjusted CPI MoM, US July seasonally adjusted core CPI MoM, US July unadjusted core CPI YoY, and the final reading for Germany's July CPI MoM. Also, Tencent will hold its Q2 earnings call; MSCI will announce its August index review; the EIA will release its monthly Short-Term Energy Outlook; the IEA will publish its monthly Oil Market Report; and OPEC will release its monthly Oil Market Report (the specific release time for the monthly report is to be determined, generally published around 18:00-21:00 Beijing time). Crude Oil: As of 11:46, both oil benchmarks rose, with US oil up 1% and Brent up 0.92%. Uncertainty over the outcome of US-Iran agreements supported prices. Iran’s state television (IRIB), citing an advisor to the supreme leader, reported the Strait of Hormuz will remain closed until relevant conditions are met. (Jin10 Data App) Iranian Oil Minister Mohsen Paknejad stated on the 11th that Iran is repairing natural gas production facilities damaged by the war, with daily capacity expected to rebound to 95 million m³ by the end of September as planned. Paknejad said reconstruction of four damaged natural gas processing facilities is progressing rapidly, contractors have commenced work, and completion is expected ahead of schedule to fully restore pre-war capacity. Earlier reports indicated Iran's daily natural gas output had decreased by about 230 million m³ since the US-Israeli military action against Iran began. (Jin10 Data App) The US Energy Information Administration’s (EIA) latest Short-Term Energy Outlook (STEO) showed a greater-than-expected degree of global oil supply disruption due to ongoing severe restrictions on crude oil shipments through the Strait of Hormuz, leading the EIA to raise its future oil price forecasts. The EIA expects the 2026 Brent spot price to average $87/bbl, up from the previous forecast of $82/bbl, and projects the Q3 2026 average Brent price at around $85/bbl, with prices broadly holding near early August levels over the coming months. The EIA said its latest projections assume the recent threats to vessels shipping Saudi crude via the Bab el-Mandeb strait do not result in additional production outages, and that severe transport constraints through the Strait of Hormuz persist through August. The EIA expects most Middle Eastern crude oil production will return to near pre-conflict average levels by early 2027, though some supply disruptions are still expected to persist through the end of 2027, at around 600,000 bbl/d. The 2027 average price is forecast at $69/bbl, up from $65/bbl previously. (Wall Street CN) Additionally, Russia has started importing gasoline from distant Indian markets, following Ukrainian attacks on its refineries that created severe domestic fuel supply shortages. According to shipping data provider Kpler, this is Russia's first-ever import of motor gasoline from the South Asian nation. Kpler said the initial gasoline cargo arrived on August 5, and more shipments might reach Russia in the future. These fuels were shipped via a series of tankers linked to Russia and transferred near Egyptian waters before heading to Russia. “The emergence of Indian gasoline supplies is particularly noteworthy,” said Sumit Ritolia, Kpler’s chief analyst. He noted these Indian cargoes, alongside Russia's continued imports of gasoline from Belarus and other neighbouring markets, underscore the severity of Russia's current domestic gasoline supply-demand imbalance, reflecting how falling refinery operating rates are reshaping the traditional trade flows of Russian refined products. (Jin10 Data App) Spot Market Roundup: ► ► ► ► ► ► (Other metals' spot midday reviews will be updated later, please refresh to view~)

[Pr-Nd series: firm quotes, weak transactions; medium-heavy rare earths steady; magnetic materials slightly recover] Yesterday, influenced by the relatively firm price of Pr-Nd oxide, quotes from metal enterprises saw no significant adjustments. However, downstream purchasing attitudes remained cautious, leading to lackluster market transactions and a sluggish trading atmosphere. In the medium-heavy rare earth market, although inquiry activity remained limited, suppliers' quotes were relatively firm, and the overall market operated stably.

According to industry sources on August 10, HL-GA selected LG Chem last month as a cathode materials supplier for electric vehicle batteries. The cathode materials will be used in 2029 model-year electric vehicles to be produced at Hyundai Motor Group Metaplant America (HMGMA). LG Chem will supply HL-GA with nickel-cobalt-manganese (NCM) ternary cathode materials, including both high-nickel and mid-nickel products.

[SMM Rare Earth Flash] US rare earth producer MP Materials (NYSE: MP) reported its Q2 2026 results, with Pr-Nd oxide production at 840 mt, up 41% YoY; sales reached 1,006 mt, up 127% YoY, marking the second consecutive quarter with sales exceeding 1,000 mt. The company expects Q3 production to exceed 1,000 mt. In May, the company completed mechanical completion of its heavy rare earth separation line, and plans to start producing dysprosium and terbium within the year. In July, it signed a multi-year supply agreement for gadolinium oxide with a US aerospace and defense manufacturer, with the contract valued at several hundred million dollars. The independent magnet factory in Texas has delivered magnets to General Motors for automotive certification testing, and commercial shipments are expected to start in Q4. Q2 revenue was $108 million, up 89% YoY; net loss narrowed to $20.3 million. The company's cash and short-term investments reached $1.45 billion.

[Pr-Nd Series Under Pressure and Weakening, Medium-Heavy Rare Earths Hold Steady, Magnetic Material Scrap Game Continues] Yesterday, affected by fluctuations in futures prices, bearish sentiment continued to spread in the market. The wait-and-see sentiment among downstream metal plants further intensified, with purchase willingness remaining sluggish; most upstream suppliers have stopped offering prices, while some traders were still selling at low prices, putting market transactions under pressure; in the medium-heavy rare earths sector, the markets for dysprosium oxide and terbium oxide saw relatively small changes, with prices remaining relatively stable.