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

Discontinuation 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 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

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

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

Shanghai Metals Market (SMM) officially launched the Copper grade A cathode premium, cif Rotterdam, USD/(tonne) on February 24th, 2026.

COMEX Inventory Data Date Adjustment

Dear Industry Peers, Hello! Electrolytic manganese metal (EMM) is a key raw material for manufacturing products such as stainless steel, specialty alloys, and battery materials. Europe, as a major global hub for stainless steel production, high-end manufacturing, and the new energy industry, is also one of the core consumer markets for EMM. Its price dynamics significantly influence the global market structure and pricing. Based on Rotterdam’s status as Europe’s largest port, which aggregates raw materials from major production regions worldwide and facilitates the circulation of spot cargo within the region, it has developed a mature storage, logistics, and trading network. The prices there accurately reflect the arrival costs in the European market, the supply-demand balance, and regional premiums, providing market participants with a critical benchmark for price reference. To proactively address market shifts, meet the ​​pressing need for price discovery​​ of Rotterdam warehouse electrolytic manganese metal, and enhance market transparency, SMM has decided: Commencing December 23, 2025, SMM will officially launch a new price: SMM Electrolytic Manganese Metal, in-whs Rotterdam, USD/mt Details of this price point are as follows: Description:SMM Electrolytic Manganese Metal, in-whs Rotterdam, USD/mt Quality:Mn99.7% Quantity:Minimum 25 tonnes Definition: In-warehouse Rotterdam,duty-unpaid, customs uncleared Brand Listing:Tianyuan Manganese Industry, CITIC Dameng, Wuling Manganese Industry,etc Timing:1Months Unit:USD/mt Payment Terms:Cash, other payment terms normalized Pulication:Daily, by 11am Beijing Time (i.e., before 4:00 AM London Summer Time before 3:00 AM London Winter Time) SMM Nickel Industry Research Departmen December 16, 2025