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

Dear User, Greetings! In recent years, the rare earth-NdFeB magnetic material industry chain has been continuously developing. During the process of refining its industry chain, SMM identified that the existing NdFeB-related data in the original terminal could no longer meet market demands. Therefore, after multiple rounds of surveys and verification, SMM has revised and expanded its original NdFeB data. The specific adjustments are as follows: NdFeB Production: 1. Discontinued 1 data point, namely the Monthly NdFeB Magnet Output by Manufacturer. The discontinued data location: Rare Earth - Rare Earth Production – NdFeB Magnet. 2. Added 5 data points, respectively [National Monthly Total Production], [Monthly Total Production of Sample Enterprises], [Monthly Production of Top-Tier Enterprises], [Monthly Production of Mid-Tier Enterprises], [Production Volume of Marginal Enterprises per Month]. The above data locations are all under Rare Earth - Rare Earth Production – NdFeB Magnet. 3. The above data are all updated monthly, with the update date being the last working day of each month, and the data dimension being the current month's data. 4. The data start date is January 2025. NdFeB Operating Rate: 1. Added five data points: [National Average Operating Rate], [Average Operating Rate of Sampled Enterprises in the Current Month], [Operating Rate of Top-Tier Enterprises in the Current Month], [Operating Rate of Mid-Tier Enterprises in the Current Month], [Operating Rate of Marginal Enterprises in the Current Month]. 2. The above data are located under Rare Earths - Rare Earth Operating Rate – NdFeB Magnet. 3. These data are updated monthly, with the update date being the last working day of each month, reflecting the current month's data. 4. The data series begins in January 2025. NdFeB Capacity 1. Added new category: Rare Earth - Rare Earth Capacity 2. Added four data points: [Quarterly Total NdFeB Capacity in China], [Quarterly NdFeB Capacity of National Top-Tier Enterprises], [Quarterly NdFeB Capacity of Mid-Tier Enterprises Nationwide], [Quarterly NdFeB Capacity of Small-Scale Enterprises Nationwide] 3. Location of the above data: Added new category: Rare Earth - Rare Earth Capacity 4. The above data is updated quarterly, with the update date being the last working day of the final month of each quarter. The data dimension reflects the current quarter. 5. The data start date is March 2025. NdFeB Supply-Demand Balance 1. Discontinued 3 data series: [SMM NdFeB Supply-Demand Balance: Supply], [SMM NdFeB Supply-Demand Balance: Consumption], [SMM NdFeB Supply-Demand Balance: Supply-Demand Balance] 2. Added 3 data series: [SMM NdFeB Supply-Demand Balance: National Total Supply], [SMM NdFeB Supply-Demand Balance: National Total Consumption], [SMM NdFeB Supply-Demand Balance: National Total Supply-Demand Balance] 3. Data location: Rare Earth - Supply-Demand Balance - NdFeB 4. These data series are updated monthly on the last business day of each month, reflecting the previous month's data (e.g., July data updated on August 29). 5. Data coverage starts from January 2025. Pr-Nd Alloy Supply-Demand Balance 1. Added a new classification for Pr-Nd alloy supply-demand balance 2. Added three datasets: [SMM Pr-Nd Alloy Supply-Demand Balance: Supply], [SMM Pr-Nd Alloy Supply-Demand Balance: Consumption], [SMM Pr-Nd Alloy Supply-Demand Balance: Supply-Demand Balance] 3. Data location: Rare Earth - Supply & Demand Analysis - Pr-Nd Alloy 4. The above data is updated monthly, with the update date set as the last working day of each month, reflecting the current month's data 5. The data series starts from January 2025 NdFeB Production and Operating Rate Forecast 1. Discontinued two data series: [Production - Forecast] and [Operating rate - Forecast]. 2. These will be replaced by two alternative data series: [NdFeB - Monthly production schedule expectation] and [NdFeB - Monthly operating rate expectation]. The above data adjustments will officially take effect on September 10, 2025. Users can then query the aforementioned data in the SMM data terminal. For any inquiries, please contact the SMM Rare Earth Research Team. SMM Rare Earth Research Team Shi Xin Contact: shixin@smm.cn

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

Effective March 17, 2026, SMM will officially launch the following two new price points: "SMM Battery-Grade Lithium Carbonate (CIF South Korea)" and "SMM Battery-Grade Lithium Hydroxide (CIF South Kor

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

Dear User, Currently, India has gradually become an important global manufacturing and export base for PV modules. In actual trade, Indian made modules exhibit differentiated supply-demand relationships and price performances in the spot market due to the varying origins of the solar cells used. To facilitate upstream and downstream enterprises in the PV industry chain to better understand India's module export and local market conditions, 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, SMM, after a period of consolidation and market surveys, plans to officially add the 'TOPCon Module-Indian Made（with domestic solar cells)' and 'TOPCon Module-Indian Made（without domestic solar cells)' product prices as market trading references starting from January 23, 2026. The published prices are all ex-work prices for these modules in India, with specific specifications and descriptions as follows: Price Point Names: TOPCon Module-Indian Made（with domestic solar cells) TOPCon Module-Indian Made（without domestic solar cells) Price Description: Price Type: Indian ex-work price (EXW) Tax Rate Standard: Tax-excluded Definition: Indian ex-work price With Domestic Solar Cells: Refers to modules manufactured in India, with the solar cells used also produced locally in India. Without Domestic Solar Cells: Refers to modules manufactured in India, but the solar cells are imported from overseas (not produced locally in India). Unit: $/W Major Brands: Waaree Technologies Ltd, Adani Group, Vikram Solar Limited, Tata Power Company Ltd, Goldi Solar Pvt Ltd, etc. Minimum Trading Volume: 10 MW Delivery Period: Within 3 months Release Time: Every Friday at 11:00 AM Beijing Time Payment Terms: Cash, and other payment methods standardized as cash SMM PV Research Team January 13, 2026

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

Dear User, Greetings! To assist secondary aluminum enterprises in accurately grasping the regional supply-demand pattern within the domestic market, obtaining real-time spot aluminum scrap price information from core production areas, effectively reducing information barriers and communication costs in transaction processes, and further improving the price system and research dimensions of the secondary aluminum industry chain, SMM, after multiple rounds of market surveys and data accumulation, plans to revise the content of the original price points. The specific update arrangements are as follows for market reference. Explanation of Modifications to the Original Aluminum Scrap Price Points: The content changes for the following four price points—Shredded Aluminum Tense Scrap (Foshan), Shredded Aluminum Tense Scrap (Anhui), Shredded Aluminum Tense Scrap (Changege), and Shredded Aluminum Cast Scrap (Foshan)—only involve supplementary modifications to the names, specifications, and definitions of the previous price points and do not affect the reference and viewing of corresponding historical prices. 1. Price Point Name: Shredded Aluminum Tense Scrap (Foshan) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Foshan) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Foshan area. 2. Price Point Name: Shredded Aluminum Tense Scrap (Anhui) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Anhui) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Anhui area. 3. Price Point Name: Shredded Aluminum Tense Scrap (Changege) revised to Shredded Aluminum Tense Scrap Liquid Aluminum Price (Changege) Specification: Water yield rate 90-93% revised to Water yield rate 90-93%, Copper >1.5% Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Changege area. 4. Price Point Name: Shredded Aluminum Cast Scrap (Foshan) revised to Shredded Aluminum Cast Scrap Liquid Aluminum Price (Foshan) Definition: Transaction price, self pick-up price at goods yard revised to Liquid aluminum price, settled based on actual metal yield, guidance price for self pick-up at goods yards in the Foshan area. Effective Time: The modifications to the aforementioned price points will be officially released starting November 12, 2025, and updated every working day. This revision aims to more accurately reflect market price levels through more refined grade classifications and provide market participants with more targeted decision-making references. Should you have any questions, please feel free to contact Chen Chichang at 021-51595820. SMM Aluminum Industry Research Team November 12, 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