SMM launches the "SMM China Titanium Dioxide Price Index" to provide a transparent pricing reference and reflect market trends, effective from March 20, 2026.

SMM officially released SMM: Sulfuric Acid Demand: Total: Annual data, with China as the data region.

SMM has now officially launched the new SMM: Supply-Demand Balance of Nickel Matte: Monthly data point based on extensive market surveys.

SMM will delist 14 price points for various steel types from specific mills effective April 1, 2026, due to prolonged stockouts. Clients should adjust their price usage to avoid business disruptions.

Dear User, Hello! To comprehensively cover price information across all segments of the rare earth industry chain and assist upstream and downstream enterprises in monitoring market fluctuations and mitigating transaction risks, we have conducted extensive market surveys and industry consultations. It has been decided to introduce six new price points related to the rare earth industry chain, including lanthanum metal, praseodymium metal, and praseodymium oxide. The newly added price points are as follows: Praseodymium Oxide FOB： Compliant with Industry Standard GB/T 5239-2015, Content ≥99.0–99.9%, Unit: $/kg Terbium Oxide FOB： Compliant with Industry Standard GB/T 12144-2009, Content ≥99.95–99.99%, Unit $/kg The above two prices for rare earth oxides are inclusive of VAT, with the port of departure being any port within China. Lanthanum Metal FOB： Compliant with Industry Standard GB/T 15677-2023, Content ≥99.0%, Unit: $/kg Praseodymium Metal FOB： Compliant with industry standard GB/T 19395-2013, content ≥96.0-99.0%, unit $/kg Terbium Metal FOB： Compliant with Industry Standard GB/T 20893-2007, Content ≥99.9%, Unit: $/kg Yttrium Metal FOB： Complies with Industry Standard XB/T 218-2016, Content ≥99.9–99.95%, Unit: $/kg The price point of this rare earth metal includes VAT, and the port of departure is any port within China. Effective Date: The aforementioned new price points will be officially released starting January 28, 2026, and will be updated every Wednesday before 12:00 PM. The purpose of this addition is to achieve more refined regional and grade classifications. All newly added price points are based on mainstream industry trading specifications and trade conditions, formed through screening and verification via standard price collection processes. They are provided for market reference only and do not constitute trading decision recommendations. For details on the price formation methodology and specific product specifications, please log in to the official platform. If you have any questions, feel free to contact SMM Rare Earth Analyst Shi Xin at 021-51666815. SMM Rare Earth Industry Research Team January 27, 2026

Dear Users, To fully cover price information across all links of the molybdenum industry chain, facilitate upstream and downstream enterprises in grasping market changes, and reduce transaction risks, after thorough market research and industry communication, we hereby decide to add 7 molybdenum industry chain-related price indicators, including molybdenum concentrate (25%-40%), molybdenum oxide (57%) CIF Tianjin Port, waste molybdenum scrap, and waste molybdenum cutting wire. The newly added price indicators are as follows: Molybdenum concentrate 40%-45%: Complies with industry standard YS/T 235-2016, with a molybdenum content of 40%-45%. Unit: RMB/ton-degree (tax-inclusive). Molybdenum Concentrate 35%-40% : Complies with industry standard YS/T 235-2016, with a molybdenum content of 35%-40%. Unit: RMB/ton-degree (tax-inclusive). Molybdenum Concentrate 30%-35%: Complies with industry standard YS/T 235-2016, with a molybdenum content of 30%-35%. Unit: RMB/ton-degree (tax-inclusive). Molybdenum Concentrate 25%-30% : Complies with industry standard YS/T 235-2016, with a molybdenum content of 25%-30%. Unit: RMB/ton-degree (tax-inclusive). Note: The above 4 molybdenum concentrate price indicators are all tax-inclusive. Molybdenum Oxide (57% Mo) CIF Tianjin Port: Complies with national standard YB/T 5129-2012, with Mo ≥ 57%. Unit: USD/pound molybdenum (tax-exclusive). Waste Molybdenum Scrap: Complies with national standard GB/T 27687-2011, with Mo ≥ 99.95%, clean and free of impurities. Unit: RMB/kilogram (tax-exclusive). Waste Molybdenum Cutting Wire: Complies with national standard GB/T 27687-2011, with Mo ≥ 99.95%, clean and free of impurities. Unit: RMB/kilogram (tax-exclusive). Note: The above 3 price indicators are all tax-exclusive. Effective Date: The newly added price indicators will be officially released on December 1, 2025, and updated around 11:30 AM every working day. This addition aims to achieve more refined regional and grade classification. All new price indicators are formulated based on mainstream industry transaction specifications and trade terms, verified through standard sampling and verification processes, and are for market reference only, not constituting trading decision advice. For information on price formation methodology and detailed product specifications, please log on to the official platform. If you have any questions, please contact Li Jiahui from SMM Tungsten & Molybdenum Research Team at +86-21-51666882. SMM Tungsten & Molybdenum Industry Research TeamDecember 5, 2025

Dear User, To further optimize the SMM ternary cathode precursor data service and better align it with market demands, we are adjusting the naming of certain monthly ternary precursor output data points. The specific changes are as follows: Additionally, to more precisely meet customer needs, we are now splitting the monthly output data for 7-series, 8-series, 9-series, and NCA ternary precursors, providing independent data for each series. The newly added and adjusted data points are as follows: Based on the above adjustments, the data points for the monthly output forecast values of ternary precursors have been simultaneously updated. The specific changes are as follows: Thank you for your continued attention and support for SMM's new energy and nickel data services. SMM Information & Technology Co., Ltd. New Energy and Nickel Research Team August 21, 2025

SMM will update its Alumina Monthly Cost Model from January 2026, incorporating VAT into bauxite costs and discontinuing certain regional indicators.

LFP Prices

Dear User, To better serve upstream and downstream enterprises in the aluminum industry chain, assist the market in promptly grasping price dynamics of caustic soda—a key auxiliary material for alumina production—and meet the reference needs of various parties for 50% ionic membrane liquid caustic soda transactions and settlements in different regions, Shanghai Metals Market (SMM), based on thorough market research and data accumulation, has decided to officially commence the daily publication of the " 50% Ion-membrane process caustic soda solution POT, ex-works Shanxi, China, VAT included, yuan/tonne " starting December 29, 2025. This will provide a fair and timely price reference for market transactions of this product. General Principles of SMM Price Methodology: Shanghai Metals Market (hereinafter referred to as SMM) is a fully independent third-party service provider. SMM does not participate in any substantive transactions but maintains close communication with buyers or sellers in the market as an observer or organizer and provides related services to the market. SMM continuously develops, reviews, and revises its methodology through communication with industry professionals, adopting the most common product specifications, trade terms, and conditions within the industry. Equal importance is given to normal transactions that meet the standard specifications. SMM reserves the right to exclude any price information deemed less reliable or unrepresentative from its price assessments. SMM publishes daily metal spot prices (or price indices, including for the Chinese market, markets outside China, and global markets), commonly referred to as SMM Prices. SMM has established corresponding methodologies for all published SMM Prices (all of which are available for inquiry on SMM's official website news.metal.com ). These methodologies stipulate the methods and procedures for generating and publishing SMM Prices, which are strictly followed. To align with the actual conditions of the spot market, SMM will make necessary revisions to the SMM Price methodologies and will announce such revisions on the SMM official website before their formal implementation. For any questions or suggestions regarding SMM Prices and their methodologies, please contact SMM customer service (contact information can be found on SMM's official website news.metal.com ). Aluminum Team SMM Information & Technology Co., Ltd. December 26, 2025