Price
News
- Spot Trading Activity Cooled, Spot Premiums Held Steady [SMM North China Spot Copper]
Spot prices of #1 copper cathode in North China against the front-month contract were reported at a discount of 110 yuan/mt to a discount of 50 yuan/mt today, unchanged from the previous trading day, while the average transaction price rose 1,635 yuan/mt from the previous trading day to 95,595 yuan/mt.
Mar 25, 2026 11:20 - [SMM Daily Chromium Review] Cost Support Kept Quotations Firm, and Recent Market Fluctuations Were Limited
[SMM Daily Chrome Commentary: Cost Support Kept Offers Firm, with Limited Recent Market Fluctuations] March 25, 2026: Chrome ore quotations saw no adjustment, while low- and micro-carbon ferrochrome prices were raised somewhat...
Mar 25, 2026 14:30 - [SMM Iron & Steel] US Steel Imports Plummet 45.9% in Early 2026 Amid New Tariff Regimes
The United States reported a 45.9% year-on-year reduction in imports of rolled steel during early 2026, reflecting the impact of newly implemented trade measures and heightened tariffs under Section 122. This sharp decline in foreign supply has significantly tightened the domestic market, allowing major US mills to increase spot market prices for hot-rolled coil to over $1,015 per tonne. Analysts suggest that the new tariff regime, which applies a 10% across-the-board duty on nearly all imports, is forcing a localized supply chain shift for North American manufacturers.
Mar 23, 2026 13:25 - [SMM Hot Topic] Weak Domestic Demand + Export Diversion Cool the “North-to-South Steel Flow”
As supply and demand for construction steel were not fully matched across different markets, regional supply-demand mismatches created price differentiation, which in turn drove the cross-regional circulation of steel resources. When the regional price spread gradient was appropriate, regions with surplus construction steel capacity and production often shipped excess resources out, thereby rebalancing construction steel resources across regions.
Mar 24, 2026 15:54 - [SMM Hydrogen Cost] 20260324
I. Coal-to-Hydrogen Shandong anthracite transaction range [1,680-1,680], with an average hydrogen cost of [1.61 yuan/m³] Shanxi anthracite transaction range [910-910], with an average hydrogen cost of [1.05 yuan/m³] Hebei anthracite transaction range [1,390-1,390], with an average hydrogen cost of [1.39 yuan/m³] Henan anthracite transaction range [980-980], with an average hydrogen cost of [1.06 yuan/m³] II. Natural Gas-to-Hydrogen Pearl River Delta natural gas transaction range [5,520-5,620], with an average hydrogen cost of [2.62 yuan/m³] Zhejiang natural gas transaction range [5,500-5,850], with an average hydrogen cost of [2.63 yuan/m³] Guangxi natural gas transaction range [5,180-5,610], with an average hydrogen cost of [2.5 yuan/m³] Eastern Guangdong natural gas transaction range [5,500-5,590], with an average hydrogen cost of [2.58 yuan/m³] Henan natural gas transaction range [4,720-4,890], with an average hydrogen cost of [2.31 yuan/m³] Hebei natural gas transaction range [4,720-5,080], with an average hydrogen cost of [2.33 yuan/m³] Hubei natural gas transaction range [4,980-5,350], with an average hydrogen cost of [2.44 yuan/m³] Guizhou natural gas transaction range [4,990-5,720], with an average hydrogen cost of [2.51 yuan/m³] Sichuan natural gas transaction range [4,825-5,125], with an average hydrogen cost of [2.38 yuan/m³] Shanxi natural gas transaction range [4,520-4,880], with an average hydrogen cost of [2.22 yuan/m³] Shandong natural gas transaction range [5,040-5,250], with an average hydrogen cost of [2.44 yuan/m³] Heilongjiang natural gas transaction range [4,810-5,060], with an average hydrogen cost of [2.34 yuan/m³] Inner Mongolia natural gas transaction range [4,560-4,800], with an average hydrogen cost of [2.18 yuan/m³] III. Propane-to-Hydrogen South China propylene oxide transaction range [7,280-7,370], with an average hydrogen cost of [4.11 yuan/m³] East China propylene oxide transaction range [7,100-7,310], with an average hydrogen cost of [4.05 yuan/m³] Northeast China propylene oxide transaction range [5,890-6,310], with an average hydrogen cost of [3.5 yuan/m³] Shandong propylene oxide transaction range [6,960-7,300], with an average hydrogen cost of [4.03 yuan/m³] IV. Hydrogen Production from Methanol The methanol transaction range in east China was [2,800-3,290], and the average hydrogen cost was [2.61 yuan/m³]. The methanol transaction range in central China was [2,780-2,990], and the average hydrogen cost was [2.54 yuan/m³]. The methanol transaction range in north China was [2,360-2,830], and the average hydrogen cost was [2.29 yuan/m³]. The methanol transaction range in south China was [3,310-3,390], and the average hydrogen cost was [2.8 yuan/m³]. The methanol transaction range in northwest China was [1,630-2,630], and the average hydrogen cost was [1.97 yuan/m³]. The methanol transaction range in southwest China was [2,770-3,020], and the average hydrogen cost was [2.55 yuan/m³]. The methanol transaction range in northeast China was [2,770-2,790], and the average hydrogen cost was [2.44 yuan/m³].
Mar 25, 2026 09:17 - Sharp Drop in Copper Prices Left Downstream Buyers Wary of High Levels, and Market Wait-and-See Sentiment Gradually Strengthened [SMM North China Spot Copper]
Spot prices for #1 copper cathode in North China against the front-month contract averaged a discount of 30 yuan/mt today, unchanged from the previous trading day. The average transaction price was 92,840 yuan/mt, down 3,000 yuan/mt from the previous trading day.
Mar 23, 2026 11:17
Announcements
Against this backdrop, SMM will begin publishing the US Midwest DDP aluminum premium starting February 27, 2026. Through daily market communication, SMM will introduce ......
PriceFeb 13, 2026 15:04To Our Valued Users, Hello! As a key intermediate product in the lithium industry chain, lithium sulfate serves as a primary raw material for producing core lithium salts such as battery-grade lithium carbonate and battery-grade lithium hydroxide. Its supply and pricing directly impact the cost of downstream lithium battery materials and overall market operations. Currently, the lithium sulfate market lacks open and transparent representative price benchmarks, with international trade and procurement pricing largely reliant on bilateral negotiations, leading to issues such as information asymmetry and delays in price transmission. With lithium sulfate production from relevant African lithium producers, represented by the Zimbabwe region, commencing and gradually entering the market, SMM has developed and is now launching the "Africa Lithium Sulfate (CIF China) Price" to promote the standardization and transparency of African lithium sulfate pricing and enhance the efficiency of industrial chain collaboration. This initiative aims to objectively reflect the market conditions of African lithium sulfate arriving at major Chinese ports, providing a reliable price benchmark for producers, traders, downstream enterprises, and financial institutions, thereby supporting the standardized development and price discovery of the global lithium resource market. Release time：2026.Jan.22 The price will be updated every business day at 12:00 Beijing Time for market reference. Product Name: Africa Lithium Sulfate (CIF China) Quality Standard: Li₂SO₄·H₂O content ≥ 80% Definition: CIF major Chinese ports Unit: USD/ton Minimum Transaction Volume: 60 tons Delivery Period: 2 months Release Time: Every business day at 12:00 Beijing Time Payment Terms: Letter of Credit (L/C), Telegraphic Transfer (T/T), or Documents Against Payment (D/P). Other payment terms are subject to negotiation. We welcome more relevant enterprises across the industrial chain to participate and support SMM in better serving the new energy industry. Shirley Wang 021-51666838 wangcong@smm.cn Thomas Feng 021-51666714 fengdisheng@smm.cn Sylvia Wang 021-51666914 wangzihan@smm.cn Jessica Wang 021-51595902 wangjie@smm.cn Faith Zhang 021-51666878 faithzhang@smm.cn Shanghai Metals Market New Energy Research Team January 20, 2026
PriceJan 20, 2026 18:48Dear User, As a key intermediate product in the lithium industry chain, lithium sulfate serves as a primary raw material for producing core lithium chemicals such as battery-grade lithium carbonate and battery-grade lithium hydroxide. Its supply and price influence the costs of downstream lithium battery materials and market operations. Currently, the lithium sulfate market lacks open and transparent representative price references. International trade and procurement pricing largely rely on bilateral negotiations, leading to issues such as information asymmetry and delayed price transmission. With lithium sulfate production from African lithium producers, represented by the Zimbabwe region, commencing and gradually entering the market, SMM has compiled and launched the " Africa Lithium Sulfate (CIF China) Price " to promote standardized and transparent pricing for African lithium sulfate and enhance the efficiency of the industry chain. This price aims to objectively reflect the market conditions of African lithium sulfate arriving at main Chinese ports. It will provide a reliable price benchmark for producers, traders, downstream enterprises, and financial institutions, supporting the standardized development and price discovery of the global lithium resources market. SMM's "Africa Lithium Sulfate (CIF China)" was officially launched today (January 21, 2026) . Details are as follows: Africa Lithium Sulfate (CIF China), Specification: Li₂SO₄·H₂O content ≥80% Product Name: Africa Lithium Sulfate (CIF China) Quality Standard: Li₂SO₄·H₂O content ≥80% Definition: CIF main Chinese ports Unit: $/mt Minimum Trading Volume: 60 mt Delivery Period: 2 months Release Time: Weekdays, 12:00 Beijing Time Payment Terms: Letter of credit, telegraphic transfer, or documents against payment other payment terms require separate negotiation. Welcome more relevant enterprises in the industry chain to participate and support SMM in better serving new energy industry chain enterprises. Shirley Wang 021-5166-6838 wangcong@smm.cn Thomas Feng 021-5166-6714 fengdisheng@smm.cn Sylvia Wang 021-5166-6914 wangzihan@smm.cn Jessica Wang 021-5159-5902 wangjie@smm.cn Faith Zhang 021-5166-6878 faithzhang@smm.cn Shanghai Metals Market New Energy Research Team January 21, 2026
PriceJan 21, 2026 15:19