SMM launches graded price points for hafnium oxide and crystal hafnium to enhance pricing reference for the hafnium industry.

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 Users: To ensure the consistency of data with the source and respond to customer feedback, we have expanded the unit of Lead-related import and export data in the non-ferrous metals database to the smallest level. Core change: Units such as "mt" has been changed to "kg". The specific matters are hereby 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 important Lead-related import and export data to include all countries, which has made it impossible for the previously set units of "mt" to match the data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Content III. Effective Date of Adjustment This adjustment will take effect on August 5, 2025 SMM August 3, 2025

Dear Users: To ensure the consistency of data with the source and respond to customer feedback, we have expanded the unit of copper-related import and export data in the non-ferrous metals database to the smallest level. Core change: Units such as "10,000 mt" and "mt" have been changed to "kg". The specific matters are hereby 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 important copper-related import and export data to include all countries, which has made it impossible for the previously set units of "mt" and "10,000 mt" to match the data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Content III. Effective Date of Adjustment This adjustment will take effect on August 5, 2025 SMM August 1, 2025

Dear Useres, With the deep reshaping of the new energy industry chain, the strategic position of sulphur, a traditional bulk raw material, is undergoing a fundamental transformation. Historically, price fluctuations in sulphur-sulphuric acid primarily affected traditional industries such as phosphate fertilisers and titanium dioxide. However, as lithium iron phosphate (LFP) has become the mainstream cathode material for power batteries, the production of its core precursor, iron phosphate, heavily relies on high-purity phosphoric acid, which in turn uses sulphuric acid as its raw material. This enables price fluctuations in the sulphur-sulphuric acid chain to be directly and rapidly transmitted to the cost of LFP. Similarly, in areas such as nickel-cobalt smelting and precursor preparation, sulphuric acid is a key auxiliary material, and its price directly impacts the cost of products like battery-grade nickel sulphate and cobalt sulphate. The emergence of new demands: Sulphur itself, as a key sulphur source for lithium sulphide and sulphide solid-state electrolytes (such as LPSC), is seeing its material purity and supply stability begin to attract attention from cutting-edge battery technology R&D. As an authoritative information institution long dedicated to the non-ferrous metals and new energy materials sectors, SMM, after a period of consolidation and market surveys, plans to introduce new sulphur price points starting December 12, aiming to provide the market with more precise pricing anchors and price references. The specific new price points are as follows: Sulphur: Solid, Sulphur (S) content ≥99.0%, Price Description: Ex-factory price (buyer's self pick-up price), including 13% VAT. SMM New Energy Research Team December 04, 2025 Sulphur Price

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

Dear Users, To optimize the data structure and enhance your data retrieval and analysis efficiency, we will adjust the classification hierarchy of "Magnesium" data in our Database Pro, effective from February 1, 2026. Before Adjustment: After Adjustment: Reason for Adjustment: Sustained Growth in User Attention: We have observed that in recent years, user query frequency, analysis depth, and attention to magnesium-related data have significantly increased. This adjustment aims to respond to your needs, making the classification structure more aligned with your usage habits and enabling easier access and retrieval of relevant data. Impact and Recommendations for You: • Change in Data Access Path: After the adjustment, you can directly locate the "Magnesium" category under the Minor & Precious Metals classification directory in the database, without needing to access it through the "Minor Metal" category. • This adjustment will not result in any loss of historical data, nor will it affect data usage permissions it only changes the classification hierarchy. We believe this adjustment will provide you with a clearer and more efficient data service experience. We sincerely apologize for any inconvenience caused by this adjustment and greatly appreciate your understanding and support. SMM Information & Technology Co., Ltd. January 22, 2026

Dear users, Hello! In recent years, the cesium and rubidium industry chain has undergone continuous changes. During SMM's ongoing research to improve the cesium and rubidium industry chain, it was found that there is a lack of market liquidity for cesium and rubidium metals despite quoted prices, and there are significant price spreads in market quotations. To reduce transaction risks and costs for upstream and downstream clients, after a period of deliberation and market consultation, SMM has decided to adapt to market development needs and suspend the timely updates of cesium and rubidium metal prices. The specific adjustments are as follows: 1. Suspension: "Cesium metal (Cs≥99.5%)", with the suspension date set for August 15, 2025 (working day). 2. Suspension: "Rubidium metal (Rb≥99.5%)", with the suspension date set for August 15, 2025 (working day). The above-mentioned price points that have ceased updates will be removed from the website quotation window. However, historical prices and these price points will still be retained in the database. If clients have any needs related to historical data, they can contact the SMM Minor Metal Research Team. SMM Minor Metal Research Team Jia Jiani Contact Information: jiaojiani@smm.cn August 11, 2025

Dear User, Hello! To better assist upstream and downstream enterprises in the industry chain in monitoring market fluctuations and promptly reflecting the spot market prices, thereby reducing transaction risks and costs in the metal market, and continuously improving and deepening the research on the metal industry chain, SMM, after a period of preparation and market research, plans to introduce new price points starting from November 1. These include Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, and Cadmium Ingot 99.99% min India Delivery, among others, for market reference. I. General Principles of SMM Price Methodology Shanghai Metals Market (hereinafter referred to as SMM) is a fully independent third-party service provider and does not participate in any substantive transactions. Instead, it acts as a market observer or organizer, maintaining close communication with buyers and sellers in transactions and providing relevant 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 in the industry, while giving equal importance to normal transactions that meet standard specifications. SMM reserves the right to exclude any price information deemed unreliable or unrepresentative from its pricing assessments. SMM publishes daily metal spot prices (or price indices, including 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 reference on SMM’s official website, www.smm.cn ). These methodologies specify the methods and procedures for generating and publishing SMM prices, which are strictly adhered to. To align with the actual conditions of the spot market, SMM may make necessary revisions to the SMM price methodology, which will be announced on the SMM official website before formal implementation. For any questions or suggestions regarding SMM prices or their methodologies, please contact SMM customer service (contact information can be found on the SMM official website, www.smm.cn ). This document outlines the standards for establishing price points such as Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, and Cadmium Ingot 99.99% min India Delivery. The purpose of this standard is to establish a transparent and verifiable mechanism for SMM price determination. II. Formation of SMM Price Points for Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, Cadmium Ingot 99.99% min India Delivery, etc. 2.1 Definition SMM price points for Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, Cadmium Ingot 99.99% min India Delivery, etc., are formed and published by SMM in accordance with this methodology. They can be used by trading parties as reference for spot trade settlement of these price points. 2.2 New Metal-Related Price Points Added by SMM Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, Cadmium Ingot 99.99% min India Delivery, etc. 2.3 Quotation Generation Method SMM collects data for evaluating price points such as Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, and Cadmium Ingot 99.99% min India Delivery through data collection (i.e., gathering raw data information that meets SMM standards). This includes bid and ask quotes provided by data providers for transactions not concluded on the same day, as well as actual transaction prices for spot trades provided by data providers. 2.4 Data Collection Method SMM price analysts collect data for price points such as Selenium Powder 99.5% min Europe Delivery, Selenium Powder 99.9% min India Delivery, Selenium Powder 99.9% min USA Delivery, Selenium Powder 99.9% min Russia FOB, Cadmium Ingot 99.99% min USA Delivery, Cadmium Ingot 99.99% min Europe Delivery, and Cadmium Ingot 99.99% min India Delivery regularly (between 9:30 AM and 11:15 AM on each trading day) via phone, QQ, WeChat, fax, and email. This data may include prices of concluded transactions on the same day, companies’ expected most likely prices for pending transactions, and offers. 2.5 Product Standards Price Point Name Reference Standard Selenium Powder 99.5% min Europe Delivery Powder below 200 mesh or 1-5 mm particles. Selenium content not less than 99.5%, other elements unspecified. Selenium Powder 99.9% min India Delivery Powder below 200 mesh or 1-5 mm particles. Selenium content not less than 99.9%, other elements unspecified. Selenium Powder 99.9% min USA Delivery Powder below 200 mesh or 1-5 mm particles. Selenium content not less than 99.9%, other elements unspecified. Selenium Powder 99.9% min Russia FOB Powder below 200 mesh or 1-5 mm particles. Selenium content not less than 99.9%, other elements unspecified. Cadmium Ingot 99.99% min USA Delivery Rod or ingot form. Cadmium content 99.99%, other elements unspecified. Cadmium Ingot 99.99% min Europe Delivery Rod or ingot form. Cadmium content 99.99%, other elements unspecified. Cadmium Ingot 99.99% min India Delivery Rod or ingot form. Cadmium content 99.99%, other elements unspecified. 2.6 Pricing Unit and Presentation Price Point Name Unit Selenium Powder 99.5% min Europe Delivery USD/lb Selenium Powder 99.9% min India Delivery INR/kg Selenium Powder 99.9% min USA Delivery USD/lb Selenium Powder 99.9% min Russia FOB USD/lb Cadmium Ingot 99.99% min USA Delivery USD/lb Cadmium Ingot 99.99% min Europe Delivery USD/lb Cadmium Ingot 99.99% min India Delivery INR/kg 2.7 Delivery Method Pick-up from relevant warehouses. 2.8 Payment Method Cash payment or wire transfer. Other terms handled as per常规. 2.9 Update Time Before 11:30 AM on each trading day. III. Methodology Changes All markets evolve, and SMM has a responsibility to ensure that the methodologies for market reporting keep pace with these changes. Therefore, SMM regularly conducts internal reviews of the appropriateness of its methodologies based on industry feedback. For all substantive but non-urgent potential revisions, SMM will follow a formal external consultation process. Major changes will be announced with a notice period of at least 28 days, inviting industry comments, unless special circumstances, particularly force majeure (natural disasters, war, exchange bankruptcy, etc.), necessitate a shorter notice period. SMM is committed to carefully reviewing all comments on proposed methodology changes. However, in some cases, it may be necessary to make changes to the methodology against the wishes of some market participants. Additionally, SMM has a formal methodology consultation process. Shanghai Metals Market Information Technology Co., Ltd. Precious Metals Team November 1, 2025

Dear Users, Due to recent volatility in the international trade environment, and to ensure the accuracy and reference value of price information, Shanghai Metals Market (SMM) has conducted a careful assessment and decided to temporarily suspend the update of Magnesium Ingot 9990 CFR (Japan) spot prices effective immediately. We will resume updates for this price category once market trading normalizes and a stable, reliable pricing basis is reestablished. Thank you for your ongoing trust and support. If you have any questions, please feel free to contact us through official channels. Shanghai Metals Market Information Technology Co., Ltd. Magnesium Research Team January 8, 2026