LFP Prices

Discontinuation of Iron Ore Data Points in the SMM Database

Discontinuation and Addition of Iron Ore Data Points in the SMM Database

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, Greetings! In recent years, the development of the secondary zinc industry has attracted significant attention however, the domestic supply of secondary zinc oxide has become increasingly tight. In contrast, Southeast Asia boasts abundant resources of secondary zinc oxide raw materials at relatively low prices, which has prompted many Chinese enterprises to establish production facilities in the region, with a considerable number choosing Vietnam. Meanwhile, amid growing uncertainties in international trade, an increasing number of companies are relocating their plants to Vietnam to achieve integrated procurement, production, and sales, gradually forming a market trend. To keep pace with the globalization of international trade and the market development of secondary zinc oxide both domestically and overseas, and to reflect the true price fluctuations of secondary zinc oxide in the global market, SMM plans to launch the CIF Imported Secondary Zinc Oxide Payable . The SMM CIF Imported Secondary Zinc Oxide Payable is an indicative price formed and published by SMM according to this methodology, which can be used by trading parties as a reference for settling secondary zinc oxide trades from Vietnam. This price reflects the mainstream price of the CIF Imported Secondary Zinc Oxide Payable​​​​​​​ for each month. The price will be officially launched on November 28, 2025, and historical prices can be viewed simultaneously on the SMM website (smm.cn). The price will be published by 18:00 on the last working day of each month. Price Definition: The mainstream transaction price of CIF Imported Secondary Zinc Oxide Payable in actual trades during the month. Going forward, SMM will continue to monitor changes in the zinc industry chain market, optimize SMM prices, and better serve the industry! For any inquiries regarding the price, please contact Zinc Analyst Hua Lin at 021-20707885 hualin@smm.cn. SMM Information & Technology Co., Ltd. Zinc Research Team November 21, 2025

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 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 User: Hello! In recent years, China has formed multiple consumption centers for spot aluminum ingot trading. With the development of the aluminum industry chain in the Southwest region, market attention to the Southwest region has gradually increased. Among them, Guangyuan is an important hub for aluminum trading in Sichuan, Shaanxi, Gansu, and Chongqing, and is also the location of the designated settlement warehouse for aluminum futures of the Shanghai Futures Exchange , where aluminum product trading has become increasingly frequent. Therefore, there is an urgent need to compile and release a price index that can fully reflect the spot price of A00 aluminum ingots in the Guangyuan region of our country, so as to objectively, truthfully, and timely reflect the supply and demand situation of the A00 aluminum ingot Spot Market in our country. Based on this, SMM will start to newly release the SMM A00 Aluminum (Guangyuan) and Premium Spot Price Points from November 20, 2025. 1. General Principles of SMM Price Methodology Shanghai Metals Market (hereinafter referred to as SMM) is a completely independent third-party service provider that does not participate in any substantial transactions. Instead, it maintains close communication with the buyers or sellers of transactions as a market observer or organizer and provides relevant services to the market. SMM continuously formulates, reviews, and revises its methodology through communication with industry insiders, adopts the most common product specifications, trade terms, and trade conditions in the industry, and equally values normal transactions that meet the specification standards. SMM reserves the right to exclude any price information deemed to be of poor reliability or unrepresentative from its quotation judgment. SMM publishes daily metal spot prices (or price indices, including those for the Chinese market, markets outside China, and the global market), commonly referred to as SMM Prices. SMM has developed corresponding methodologies for all published SMM Prices (which will be published on SMM's official website www.smm.cn for reference), and the methodologies specify the methods and procedures for the generation and publication of SMM Prices, with SMM Prices being generated and published strictly in accordance with the provisions of the methodologies. To align with the actual situation of the Spot Market, SMM will make necessary revisions to the SMM Price Methodology and announce them on the SMM official website prior to formal implementation. If you have any questions or suggestions regarding SMM prices and their methodology, please contact SMM Client Server staff (please check the contact information on the SMM official website www.smm.cn). 2. Formation of the Spot Price Point of SMM A00 (Guangyuan) 2.1 Definitions The SMM A00 (Guangyuan) Spot Price is an indicative price generated and published by SMM in accordance with this methodology, which can be adopted by both trading parties as a reference basis for the settlement of spot trade of A00 aluminum ingots in the Guangyuan region. This price reflects the most likely range of spot transaction prices before the release time of the SMM A00 aluminum ingot spot quotation on each complete working day. This price is based on the trading conditions in the Guangyuan region on the day, and other regions can adjust the actual settlement price during trading based on the market correlation between different regions on the basis of this price. 2.2 Price Generation Method SMM obtains information on the spot price of local A00 aluminum ingots in Guangyuan through standard price benchmarking methods, including the indicative transaction price provided by the price benchmarking unit, the existing transaction spot premium or discount, and the indicative transaction spot premium or discount, etc. 2.3 Product Standards A00 Aluminum Ingot: Complies with the requirements for the "Al99.70" grade in GB/T 1196-2023 Aluminum Ingots for Remelting. 2.4 Pricing Unit and Presentation Form Unit: (Renminbi) Yuan/ton. Presented in interval form, it is a tax-inclusive price (including 13% Value Added Tax) Daily quotations include the highest, lowest, and average prices of SMM A00 Aluminum (Guangyuan) and its premium or discount. 2.5 Delivery Method Same-day delivery, pick up by the buyer at Guangyuan Warehouse 2.6 Release Time 10:15 AM every working day (excluding legal holidays and weekends) 3. Methodology Changes All markets are changing, and SMM has the responsibility to ensure that the methodology for market reports changes in tandem with the market. Therefore, SMM will conduct internal reviews of the appropriateness of the methodology on a regular basis based on industry feedback. For all potential modifications that are substantial but not urgent, SMM will follow the formal external consultation process. Then, significant changes will be announced, with a notice period of at least 28 days provided to invite industry professionals to comment, unless special circumstances, especially force majeure (natural disasters, wars, exchange bankruptcies, etc.), result in a shortened notice period. SMM commits to carefully reviewing all comments regarding the proposed methodological changes, but in some cases, may have to make changes to the methodology against the wishes of some market participants. In addition, SMM has a formal methodology consultation process. SMM commits to conducting a formal consultation on the A00 aluminum quotation once every year. The date of the last consultation and the deadline for SMM's commitment to hold the next consultation are located at the top of the methodology document. In addition, SMM has a formal methodology consultation process. SMM is committed to serving enterprises in the aluminum industry chain and reducing their transaction costs. The newly added price points will be updated at 10:15 a.m. every working day. Please stay tuned. If you have any feedback, please send it to 021-51595811 (Howard Yang). Shanghai Nonferrous Metals Network Information Technology Joint Stock Company Aluminum Business Unit 2025.11.14

Against this backdrop, SMM will begin publishing the US Midwest DDP aluminum premium starting February 27, 2026. Through daily market communication, SMM will introduce ......

Dear Valued Customers, Pursuant to the requirements of Announcement No. 10 of 2025 issued by the Ministry of Commerce (MOFCOM) and the General Administration of Customs (GAC) of China on February 4, 2025, Ammonium Paratungstate (APT) and Tungsten Oxide have been included in the list of export-controlled items. Export operators are required to apply for a license in accordance with the law before conducting related business. Affected by this policy, the export volume of domestic Ammonium Paratungstate (APT) and Tungsten Oxide products has dropped sharply, and the subsequent export scale will remain at a low level. Due to the significant decline in export transaction activity, the market price formation mechanism no longer has sufficient data support, and continuing to update price points can hardly reflect the real market situation. To ensure the accuracy and professionalism of our information services, after careful consideration, SMM has decided to cease updating the two price points of "APT FOB" and "Tungsten Oxide FOB" starting from October 9, 2025. During the suspension of updates, our company will continue to track the dynamic adjustments of export control policies and the changing trends of the global tungsten industry chain. If the market becomes active again and the price data becomes representative in the future, we will restart the price update service as soon as possible and announce it separately. The historical data of the above-mentioned price points that have ceased to be updated will continue to be retained in the SMM database. If you have any needs for historical data inquiry and related business consultation, please feel free to contact Liu Xiaolei at +86 15021973263 or Li Jiahui at +86 13792518717, lijiahui@smm.cn. Thank you for your understanding and support! Shanghai Metals MarketSeptember 30, 2025