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.

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 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: 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

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 users, Since the beginning of this year, Turkish bauxite has served as a vital supplement to domestic high-temperature bauxite resources, with imports growing significantly. By November 2025, cumulative imports had reached 2.9778 million metric tons, a year-on-year increase of 40.24%, making Turkey the third-largest source country for China’s bauxite imports. To more timely and accurately reflect the spot market conditions of Turkish bauxite and assist industry chain enterprises in procurement decisions and risk management, SMM will officially launch the “Bauxite(Al2O3: 54%, SiO2: 6%, Ti: 3%), CFR Turkey, $/dmt” starting December 24, 2025. This price point is designed to provide the market with a referential benchmark for spot transaction evaluation, further enhancing transparency and efficiency in cross-border trade. The specific price point information is as follows: Price Description: Bauxite(Al2O3: 54%, SiO2: 6%, Ti: 3%), CFR Turkey, $/dmt Unit: USD/dry metric tonne Specifications: Al₂O₃ 54%, SiO₂ 6%, mositure content 5% max, TiO₂ below 3%, Fe₂O₃ 20% min, 30% max Quality: Conforming to GB/T 24483 2009 "bauxite", Al₂O₃ 54%, SiO₂ 6%, mositure content 5% max, TiO₂ below 3%, Fe₂O₃ 20% min, 30% max Payment Terms: L/C/TT at sight in USD, or other terms normalized Publication Time: Weekly, Friday, 12pm Beijing time SMM Aluminum Industry Research Team December 24, 2025

SMM is delisting 11 price points for various automotive steels, effective February 6, 2026, due to market changes.

Dear User, During the development of the automotive steel market, changes have occurred in some mainstream brands, materials, and specifications. As a result, certain prices in the SMM Automotive Section currently deviate from the actual market situation. SMM has decided to discontinue the price points for certain materials/specifications of alloy structural steel, spring steel, cold heading steel, carbon round steel, and mold steel, effective from February 13, 2026. Customers who use the relevant prices for settlement should pay attention to the time period and adjust their price usage promptly to avoid any impact on your business due to the discontinuation of these price updates. A total of 10 price points are being discontinued, with details as follows: Spring Steel 65Mn Φ6.5-20 (Nationwide) Cold Heading Steel 35K Φ6.5-20 (Nationwide) Alloy Structural Steel 20CrMo Φ16-200 (Nationwide) Alloy Structural Steel 35CrMo Φ16-200 (Nationwide) Alloy Structural Steel 40MnBH Φ29-250 (Nationwide) Carbon Round Steel 45# Φ16-18 (Nationwide) Carbon Round Steel 45# Φ131-180 (Nationwide) Mold Steel 1.2311 21-120*1800-2200 (Nationwide) Mold Steel 4Cr13 Φ20-130 (Nationwide) Mold Steel W6Mo5Cr4V2Co5/M35 Φ20-80 (Nationwide) https://car.smm.cn/price Recommended new prices for use are as follows: Specialty Wire Rod: https://car.smm.cn/price?type_id=19&item_id=115&goods_id=0 Specialty Bar: https://car.smm.cn/price?type_id=19&item_id=114&goods_id=0 Mold Steel: https://car.smm.cn/price?type_id=19&item_id=117&goods_id=0

To Valued Customers Dear Customers, To fully cover the price information across all links of the tungsten industry chain, accurately reflect the spot market trends of products such as low-grade tungsten concentrate, tungsten products, photovoltaic tungsten wire busbars and tungsten scrap, and help enterprises upstream and downstream of the industrial chain keep abreast of market changes and reduce trading risks, we have decided to add 11 new tungsten industry chain - related price points after conducting sufficient market research and in-depth communication with the industry. The new price points are detailed as follows: Scheelite Concentrate (25%-30% WO₃) : Compliant with the industrial standards applicable in Henan, Guangxi and Hunan regions. It refers to scheelite concentrate with a WO₃ content ranging from 25% to 30%. Unit: RMB per ton-unit of WO₃. Scheelite Concentrate (23%-25% WO₃) : Compliant with the industrial standard YS/T 231 - 2015. It refers to scheelite concentrate with a WO₃ content ranging from 23% to 25%. Unit: RMB per ton-unit of WO₃. Ammonium Metatungstate (AMT) : Compliant with the national standard GB/T 26033 - 2010. Its technical indicators are as follows: WO₃ content ≥ 81.5%, Fe content ≤ 0.0020%, Pb content ≤ 0.0001%, and Si content ≤ 0.0015%. Unit: RMB per ton. Wire-Drawing Tungsten Bar : Compliant with the requirements of the national standard GB/T 3459 - 2022, with a tungsten (W) content ≥ 99.95%. Unit: RMB per kilogram. Steelmaking Tungsten Bar : Compliant with the requirements of the national standard GB/T 3459 - 2022, with a tungsten (W) content ≥ 99.95%. Unit: RMB per kilogram. Cut-Resistant Tungsten Wire for Photovoltaic Applications (24μm - 30μm) : With a tungsten (W) content ≥ 99.95%, a diameter ranging from 24μm to 30μm, and a tensile strength of ≥ 3500MPa. Unit: RMB per kilometer. The above - listed prices are all ex - factory pick - up prices including 13% value - added tax (VAT). Details of the 5 New Tungsten Scrap Price Points Scrap Button Bits : Compliant with the quality requirements for cemented carbide scrap specified in the national standard GB/T 21182 - 2022. Unit: RMB per kilogram. Scrap Anvils : Compliant with the quality requirements for cemented carbide scrap specified in the national standard GB/T 21182 - 2022. Unit: RMB per kilogram. Scrap Roller Rings : Compliant with the quality requirements for cemented carbide scrap specified in the national standard GB/T 21182 - 2022. Unit: RMB per kilogram. Scrap Tungsten Chips/Wires : Compliant with the requirements of the national standard GB/T 26496 - 2011 Tungsten and Tungsten Alloy Scrap . It has a tungsten content ≥ 90% and no other inclusions. Unit: RMB per kilogram. Scrap Tungsten Blocks/Sheets : Compliant with the requirements of the national standard GB/T 26496 - 2011 Tungsten and Tungsten Alloy Scrap . It has a tungsten content ≥ 90% and no other inclusions. Unit: RMB per kilogram. The five tungsten scrap prices mentioned above are all excluding VAT. Effective Date The above - mentioned new price points will be officially released starting from November 21, 2025 and updated on each working day. The launch of these new price points aims to achieve more refined classification by region and grade. All the new price points are formulated based on mainstream industrial trading specifications and terms, which have been verified through a standardized price - data collection process. They are for market reference only and do not constitute trading decision - making advice. For details on the pricing methodology and specific product specifications, please visit our official platform. If you have any questions, please feel free to contact Li Jiahui from SMM Tungsten and Molybdenum Analysis at 021 - 51666882.