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

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.

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

LFP Prices

Announcement on Adjusting the Quotation Frequency of Battery-Grade Lithium Fluoride Prices from Weekly to Daily

Dear Users: Hello! To better leverage the role of spot prices in the manganese industry as a benchmark and assist the market in optimizing its order signing mechanism, SMM, after a period of accumulation and market surveys, intends to advance the release time of spot prices for EMM (Guangxi), EMM (Hunan), EMM (Guizhou), EMM (bagged, Shanghai), EMM (barreled, Shanghai), EMM (main producing areas), EMM (Tianjin Port), EMM (Huangpu Port), and EMM FOB prices to 10:30 AM each working day, starting from August 5, 2025. This announcement is hereby made. Manganese Research Team, SMM August 4, 2025

Dear User, Hello! On September 12, 2025, SMM officially launched new weekly price points for lithium battery recycling. The newly added price points include: 1. SMM Black Mass, NCM/NCA, Payable indicator, cobalt, FOB Koera, % payable of SMM's Cobalt Metal (in-whs Rotterdam) , Specification: 18% < Ni < 40% 2. SMM Black Mass, NCM/NCA, Payable indicator, nickel, FOB Koera, % payable of LME's Nickel Cash Official price ， Specification: 5% < Co < 18% The price are updated and maintained every Friday at 12:00 PM. On September 12, 2025, this week’s SMM NCM/NCA black mass‘s weekly price was 87%-91%, remaining unchanged from last week. We welcome more related companies in the industry chain to participate and support SMM in better serving the new energy industry chain.

Dear User: Hello! Due to an error on our part, the data for "Li-ion Battery Export by Country" under the new energy category was incorrect. We are now making corrections to this set of indicator data. I. Scope of Adjustment The quantity and average price indicator data under the database category "New Energy-Lithium-ion Battery-Lithium Ion Battery-Export-Li-ion Battery Export by Country" II. Adjustment Details 1. The export quantity of lithium-ion batteries by country is adjusted to: current data value × 1,000. 2. The average export price of lithium-ion batteries by country is adjusted to: current data value ÷ 1,000. This correction will take effect on December 12, 2025. We sincerely apologize for any inconvenience and trouble caused and will strive to avoid such issues in our future work.

Dear Users: Hello: To ensure data consistency with the source and respond to customer feedback, we have expanded the unit of zinc-related import and export data in the non-ferrous metals database to the smallest level. Core changes: Units such as "10,000 mt" and "mt" have been changed to "kg". The specific details are announced as follows: I. Reasons for Adjustment Due to the need for country-specific breakdown of imports and exports, the unit has been adjusted to the smallest value To better serve customers, SMM has expanded the import and export data related to the zinc industry chain to include all countries. This will result in the previously set units such as "mt" and "10,000 mt" being unable to match data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Details III. Effective Date of Adjustment This adjustment will take effect on August 8, 2025 SMM (Shanghai Metals Market) August 4, 2025

Dear User, Hello! With the evolution of global PV trade, N-type 210R wafers, as a core product from China, are being exported to global PV markets including India. To facilitate upstream and downstream enterprises in the PV industry chain to better understand the global market conditions for PV wafers, grasp real-time international spot price dynamics, and convey more comprehensive and diverse price information to the market, thereby reducing transaction risks and costs in overseas trade. After a period of consolidation and market surveys, SMM plans to officially add the "N-type 210R Wafer — India CIF" product price as a reference for market transactions starting from December 29, 2025. The published prices are all CIF prices for major Indian ports. The specific specifications and descriptions are as follows: Price Point Name: N-type 210R Wafer — India CIF Price Description: Product Specification: 210R Tax Standard: Excluding VAT Definition: CIF price for major Indian ports Unit: US dollar/piece Mainstream Brands: TCL Zhonghuan, Gokin Solar, Shuangliang, Adani Minimum Trading Volume: 100,000 pieces Update Frequency: Daily Maintenance Time: 11:20 BJT (8:50 IST) Payment Terms: Cash, and other payment methods standardized to cash SMM PV Research Team December 19, 2025