Announcement on Adding New Price Points for Platinum Group Compounds

Three new daily price points for Aluminum Alloy Ingots ADC12 starting March 30, 2026. These prices will be updated Monday through Friday at 12:00 PM (Beijing Time).

SMM will launch two new price points for Indonesia 316L stainless steel, "Indonesia 316L/NO.1 Coil Mill Edge" and "Indonesia 316L/2B Coil Mill Edge," effective March 13, 2026.

As the Chinese New Year holiday is around the corner, Shanghai Metals Market (SMM) hereby informs you of our metal price update arrangement during the holiday period to ensure you can make proper arra

SMM has reviewed and refined its 2025 energy storage data, adjusting monthly shipment volumes and renaming data points for clarity.

COMEX Inventory Data Date Adjustment

SMM will increase the update frequency for its Indonesian Domestic Nickel Ore Price (1.2%-1.6% Ni) from weekly to daily, effective February 9, 2026, due to market volatility.

Dear User, Greetings! With the rapid development and continuous technological iterations in the solid-state battery industry, solid-state batteries have garnered increasing attention. As indispensable key materials for solid-state batteries, the market demand for sulfide electrolytes and oxide electrolytes is also surging accordingly. The quality of pentaphosphorus pentasulfide and lithium bromide, important raw materials for sulfide electrolytes, plays a significant role in influencing sulfide electrolytes. In the realm of oxide electrolytes, the application status of LLZO (lithium lanthanum zirconium oxide) in the semi-solid and solid-state battery markets is gradually rising. SMM is committed to supporting upstream and downstream enterprises in the solid-state battery industry chain, helping them gain comprehensive insights into the market dynamics of solid-state battery electrolytes. By providing real-time and accurate spot cargo and price information, we assist enterprises in effectively reducing risks and costs in market transactions, enhancing their core competitiveness and market adaptability. Simultaneously, SMM actively delves into research on the solid-state battery industry chain, striving to build a more transparent, fair, and efficient market environment for the industry through deepened industry analysis and continuous improvement of the knowledge system. After a period of consolidation and market surveys, SMM plans to introduce two important raw materials for sulfide electrolytes in solid-state batteries—pentaphosphorus pentasulfide and lithium bromide—along with a new price point for oxide electrolyte LLZO, starting from January 28. Details are as follows: Pentaphosphorus pentasulfide: P2S5 content ≥99.9%, Lithium bromide: LiBr content ≥99.9% Oxide electrolyte LLZO: powder, D50 ≤1μm. Price note: The above three product price points are all delivery-to-factory prices, inclusive of 13% VAT. Shanghai Metals Market New Energy Research Team January 24, 2026

Dear 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

Dear Users, Greetings! In recent years, as the global new energy vehicle industry entered a large-scale retirement period and resource security strategies were upgraded, China's lithium battery recycling market continued to expand rapidly. In August this year, China officially began allowing the import and export of black mass, and it is expected that more black mass meeting quality requirements will enter China in the future. Against this backdrop, the value and pricing mechanism of overseas black mass in the Chinese market are attracting close attention from both upstream and downstream segments of the industry chain. In response to market changes, addressing the industry's practical needs for evaluating the value of recycled raw materials, and promoting the establishment of a more open and fair pricing benchmark in the lithium battery recycling sector, the Shanghai Metals Market (SMM), after in-depth market surveys and discussions has decided: On January 9, 2026, SMM will officially launch new weekly price for lithium battery recycling. The newly added price are as follow: 1. SMM Battery Black Mass, NCM/NCA, % payable of SMM's Nickle sulphate, FOB Malaysia, 9% < Ni < 20% 2. SMM Battery Black Mass, NCM/NCA, % payable of SMM's Cobalt sulphate, FOB Malaysia, Specification: 5% < Co < 10% 3. SMM Battery Black Mass, NCM/NCA, % payable of SMM's Lithium Carbonate, FOB Malaysia, Specification: 3% < Li < 3.5% Details of this price point are as follows: Description: SMM Battery Black Mass, NCM/NCA, % Payable of SMM's Nickel Sulphate, FOB Malaysia, 9% < Ni < 20% SMM Battery Black Mass, NCM/NCA, % Payable of SMM's Cobalt Sulphate, FOB Malaysia, 5% < Co < 10% SMM Battery Black Mass, NCM/NCA, % Payable of SMM's Lithium Sulphate, FOB Malaysia, 3% < Li < 3.5% Quality: Ni 9%-20%, Co 5%-10%, Li 3%-3.5% Quantity: Minimum 30 tonnes Definition: FOB Malaysia main ports Timing: 1-2 Months Unit: % Payment Terms: 50% Payment in advance T/T in USD , other payment terms normalized Pulication: Weekly, Friday 12pm Beijing time Relevant companies from the New Energy Industry Chain are welcomed to participate and support SMM in better serving the New Energy Industry Companies. Relevant companies from the New Energy Industry Chain are welcomed to participate and support SMM in better serving the New Energy Industry Companies. Shirley Wang 021-51666838 wangcong@smm.cn Thomas Feng 021-51666714 marui@smm.cn Freya Lin 021-51666902 linziya@smm.cn Rayna Lei 021-20707873 leiyue@smm.cn Melanie Choy (Malaysia) +6012-4926909 melanie.choy@smm.cn Shanghai Metals Market New Energy Research Team November 26, 2025