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: Due to the persistently low operating rate of silicon enterprises in Fujian, stable and effective price information cannot be obtained. SMM is expected to cease updating the price points for #421 silicon (Fujian), #3303 silicon (Fujian), #2202 silicon (Fujian), #2202 silicon (east China), and #2202 silicon (Huangpu Port) starting from October 9, while retaining historical price query access. The SMM Silicon Research Team is committed to providing better services for enterprises in the silicon industry chain. Should you have any questions during this announcement period, please feel free to contact us at luminping@smm.cn.

Dear User, To further optimize the SMM ternary cathode precursor data service and better align it with market demands, we are adjusting the naming of certain monthly ternary precursor output data points. The specific changes are as follows: Additionally, to more precisely meet customer needs, we are now splitting the monthly output data for 7-series, 8-series, 9-series, and NCA ternary precursors, providing independent data for each series. The newly added and adjusted data points are as follows: Based on the above adjustments, the data points for the monthly output forecast values of ternary precursors have been simultaneously updated. The specific changes are as follows: Thank you for your continued attention and support for SMM's new energy and nickel data services. SMM Information & Technology Co., Ltd. New Energy and Nickel Research Team August 21, 2025

Dear users, As the core raw material for the steel industry, the price fluctuations of iron ore directly determine the cost and profit stability of the steel industry chain. In recent years, the endowment of global iron ore resources has shown significant changes, with the proportion of high-grade ore production continuously declining. To actively respond to market changes, enhance the guiding significance of the index for the Spot Market, and improve market information transparency, SMM has decided to launch the "MMI 61% Iron Ore Port Stock Index (IOPI)" and the "MMI 61% Iron Ore Seaborne Index (IOSI)" from 5th January 2026. The specific price point details are as follows: Index Price Point: MMI 61% Iron Ore Port Stock Index (IOPI) Quality specifications: Fe content base 61%, aluminum base 2.5%, silica base 4.5%, phosphorus base 0.1%, sulfur base 0.02%, Moisture base 8% Definition: FOT Qingdao Port, VAT included. Normalized for any Chinese Port. Unit: RMB/wet tonnes Quantity: min 5,000 tonnes Timing: within 1 week Payment Terms: Payment at sight Publication: Working Day, 6 PM Beijing Time Index Price Point: MMI 61% Iron Ore Seaborne Index (IOSI) Quality specifications: Fe content base 61%, aluminum base 2.5%, silica base 4.5%, phosphorus base 0.1%, sulfur base 0.02%, Moisture base 8% Definition: CFR Qingdao Port. Normalized for any Chinese Port. Unit: USD/dry tonnes Quantity: min 50,000 tonnes Timing: within 2 months Payment Terms: L/C or payment at sight Publication: Working Day, 6 PM Beijing Time SMM Iron Ore Research January 5, 2026

In the recent years, the proportion of bauxite ore in Indonesia kept on increasing in the mineral sector. Following the export ban and downstreaming initiatives by the Indonesian government, the bauxite industry will be expected to grow steadily. The valuation and pricing mechanisms for Indonesia bauxite ore in the market​​ are drawing close attention from participants across the supply chain. To proactively address the potential downstreaming market shifts and enhance market transparency, SMM has decided: Commencing November 7, 2025, SMM will officially launch o​​ne new price: Indonesian Bauxite (Al2O3: 47%, SiO2: 5%,delivered to destination port,Indonesia,$/wmt) Details of this price point are as follows: Description: Indonesian Bauxite (Al2O3: 47%, SiO2: 5%,delivered to destination port,Indonesia,$/wmt) Quality: Total alumina 47% total silica 5% Fe 14% min, 20% max moisture content 20% max titanium 2% max Quantity: Minimum 50000 wmt Definition: delivered to destination port Brand Listing: Antam, Cita Mineral Investindo Timing: 1-2 Months Unit: USD/wmt Payment Terms: L/C/TT at sight in USD , other payment terms normalized Publication: Weekly, Friday by 12:00 PM Jakarta Time

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