This week, ternary cathode precursor prices edged down. Today, nickel sulphate prices rose slightly, cobalt sulphate prices dipped marginally, and manganese sulphate prices held steady. Payables side, for April and Q2 orders, some producers were willing to raise discounts due to significant raw material price fluctuations. Long-term contract side, some producers recently negotiated long-term contracts. Some producers saw slight increases in nickel and cobalt discounts, while others may have had some room for negotiation on processing fees. However, as downstream acceptance of high-priced raw materials remained weak, the overall upside room for coefficients is expected to be limited. Spot order side, cobalt and manganese coefficients generally held stable in April. Downstream purchasing sentiment was weak, and further rises are expected to be difficult. If nickel prices strengthen further, nickel coefficients may have some room to rise.

[Aluminium Scrap Recovery Growth Helps US Maintain Balance Despite Trade Shifts] In February 2025, the US exported 162,000 tonnes of aluminium scrap, up 5.88% month-on-month, while imports fell 5.84% to 59,700 tonnes, according to USGS data. Compared to February 2024, exports rose 2.53% and imports surged 24.8%. The rise in exports was supported by an 8% increase in domestic scrap recovery, reaching 321,000 tonnes, with 50.46% of it exported and 159,000 tonnes retained locally—forming a buffer ahead of a 25% import tariff effective March 12, 2025. Most of the recovered scrap came from new sources (184,000 tonnes), with the rest from old scrap (137,000 tonnes). Export volumes to India, Malaysia, South Korea, and China all increased, while exports to Thailand declined. On the import side, shipments from Canada dropped by 17.31%, while imports from Mexico rose. For January–February 2025, total exports reached 316,000 tonnes and imports 123,000 tonnes—both higher than a year earlier. This growing scrap recovery is helping the US maintain supply stability despite shifting trade dynamics.

Ascend Elements, a U.S.-based lithium-ion battery materials company, has secured $320 million, including a 1.22 billion Polish Zloty grant from Poland’s Ministry of Economic Development and Technology, to build its first European precursor cathode active material (pCAM) manufacturing facility in Poland. The facility will utilize the company’s proprietary Hydro-to-Cathode® technology, which recovers nickel, manganese, and cobalt pCAM from spent lithium-ion batteries, aiming to establish a sustainable circular battery materials supply chain in Europe. The plant will be solely owned and operated by Ascend Elements and is part of the EU’s Temporary Crisis and Transition Framework (TCTF) to support the net-zero transition. The project is one of the largest U.S. investments in Poland and is expected to boost regional development, technology advancement, and collaboration with local institutions. Additionally, Ascend Elements operates one of North America’s largest battery recycling plants in Georgia, with a new lithium recovery line targeting 3,000 metric tons of lithium carbonate annually, and is also building a large-scale Hydro-to-Cathode® pCAM plant in Kentucky, expected to be operational by late 2026.

According to media reports, copper scrap that had been piling up for weeks in Salt Lake City, US, has finally started to clear, largely due to progress in the China-US trade negotiations. Affected by the previous trade disputes, copper scrap exports from the US had almost ground to a halt, resulting in up to 300,000 pounds of copper scrap being forced to accumulate in the yard of Utah Metal Works Inc. This copper scrap came from old air conditioners, demolished buildings, and rusty cars. Now, with the US and China temporarily reducing each other's tariffs, US scrap metal merchants are striving to resume copper scrap exports to China. Due to its durability, malleability, and electrical conductivity, copper has long been widely used in the construction, transportation, and power industries. In recent years, it has also been used in the manufacturing of EVs, green energy plants, and data centers. In recent years, as copper demand continues to rise while copper mine production becomes increasingly tight, copper scrap has played a crucial role in the global supply, accounting for about one-third of the total. For a long time, US copper scrap exports to China have been a vital part of the global copper supply chain. Last year, one-fifth of the copper scrap imports by Asian smelters came from the US. China is the world's largest producer of copper cathode, accounting for more than half of global production. As a major exporter of copper scrap, the US exported 600,000 mt of copper scrap last year, a scale comparable to some of the world's largest copper mines, with more than half of it sold to China. Although tariffs have temporarily decreased, it is still unclear whether this will be enough to prompt US merchants to re-export the accumulated copper scrap. Analysts point out that the profit margins for copper scrap import businesses are very thin, making it difficult to import copper at any tariff level. The trade disputes have disrupted the entire copper scrap market. Data shows that the price of No. 2 copper scrap supplied by the US has seen a discount of 92.5¢ per pound compared to futures prices, the largest price spread ever recorded. In addition to trade restrictions, the price structure of US copper scrap has also dampened the purchase willingness of international buyers. Due to previous threats by US President Trump to impose import tariffs on copper, US copper prices have been significantly higher than those in other parts of the world this year. Some commodity giants have taken advantage of this to export copper to the US from around the world, profiting from the price difference. The pricing of US copper scrap relies on the futures prices of the New York Mercantile Exchange (Comex). Faced with the relatively high prices, overseas buyers are generally deterred. Some traders have tried to shift their focus to other regions, such as Japan, but these markets are not enough to fill the gap left by China.

In the era of global aluminum industry's vigorous development and profound transformation, the SMM Aluminum Industry Conference, organized by SMM Information & Technology Co., Ltd., has always spared no effort to gather various forces and promote continuous breakthroughs in technological innovation, market expansion, and conceptual renewal in the aluminum industry. This year, the AICE SMM Aluminum Industry Expo celebrated its significant 20th anniversary. In the current complex environment of market fluctuations and accelerated industry transformation, the active participation of colleagues has effectively facilitated efficient communication across the upstream and downstream of the aluminum industry chain, injecting strong momentum for collaborative development. To express gratitude to the companies that have consistently supported the SMM Aluminum Industry Expo over the years and to honor the deep camaraderie and unreserved support, SMM has established the "Evergreen Medal of the Light of Nonferrous Metals" and will award the "2025 SMM Evergreen Medal of the Light of Nonferrous Metals" to the following companies at the AICE 2025 SMM (20th) Aluminum Industry Conference and Expo, co-hosted by SMM, Shanghai Nonferrous Metals Trading Center, and Shandong Aisi Information Technology Co., Ltd., and co-organized by Zhongyi Fengjinyi (Suzhou) Technology Co., Ltd. and Lezhi Qianrun Investment Service Co., Ltd. This is to commemorate this precious journey of cooperation and to commend the outstanding contributions made by these companies. 2025 SMM Evergreen Medal of the Light of Nonferrous Metals (First Round) AMC UPP Aluminum (Shanghai) Co., Ltd. Anhui Huachuang Environmental Protection Equipment Technology Co., Ltd. Baoding Anbaoneng Metallurgical Equipment Co., Ltd. Dazheng Metals (Holdings) Co., Ltd. Dongyang Meichen Industry & Trade Co., Ltd. Fen'an Aluminum Industry Co., Ltd. Fuzhou Maite New High-Temperature Materials Co., Ltd. Granges Aluminum (Shanghai) Co., Ltd. Guangdong Hongbang Metal Aluminum Co., Ltd. Guangdong Hongjin New Materials Group Co., Ltd. Guangdong Jianmei Aluminum Profile Factory (Group) Co., Ltd. Guangdong GoldEx Light Alloy Co., Ltd. Guangdong Juchen Equipment Technology Co., Ltd. Press Metal International Ltd. Hebei New Lizhong Nonferrous Metals Group Co., Ltd. Hubei New Jinyang Resources Group Co., Ltd. Hunan InnoChina Advanced Materials Co., Ltd. Jiangsu Dingsheng New Energy Materials Co., Ltd. Jiangsu Haiguang Metals Co., Ltd. Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd. Jiangxi Baotai Nonferrous Metals Group Co., Ltd. Jiangxi Jinli Urban Minerals Co., Ltd. Kingboard Aluminum Group Calderys Refractories (China) Co., Ltd. (The above companies are listed in alphabetical order, with no ranking implied.) Wang Yanchen, General Manager of SMM London Office, presented the awards to the winning companies. 2025 SMM Evergreen Medal of the Light of Nonferrous Metals (Second Round) Lanxi Boyuan Metals Co., Ltd. Luoyang Longding Aluminum Co., Ltd. Nantong Zhongfu New Materials Technology Co., Ltd. Xiamen Xiashun Aluminum Foil Co., Ltd. Shandong Hongchuang Aluminum Industry Holding Co., Ltd. Shandong Lixin New Materials Co., Ltd. Shanxi Keyuan Carbon Co., Ltd. Shanghai Giant Alloy Materials Recycling Co., Ltd. Suzhou Nuorida New Materials Technology Co., Ltd. Vesuvius Foundry Technology (Jiangsu) Co., Ltd. Wenxi Kailida Trading Co., Ltd. Wuxi Pinsheng Metal Products Co., Ltd. Wuxi Lunsheng Materials Co., Ltd. Xuzhou Jieke Aluminum Co., Ltd. Xuzhou Tianyi Metal Flux Factory Xuzhou Yongsheng Metallurgical Materials Co., Ltd. Zhaoqing Southern Aluminum Recycling Co., Ltd. Zhejiang Lanwei Environmental Protection Technology Equipment Co., Ltd. Zhongyi Fengjinyi (Suzhou) Technology Co., Ltd. Zhongzhu New Materials Industry (Jiangsu) Co., Ltd. Chongqing Jiantao Aluminum Co., Ltd. Chongqing Shunbo Aluminum Alloy Co., Ltd. (The above companies are listed in alphabetical order, with no ranking implied.) Dong Chen, Chairman of Shanghai Nonferrous Metals Trading Center Co., Ltd., presented the awards to the winning companies. SMM congratulates all the winning companies and looks forward to more industry colleagues joining in to jointly promote the healthy development of the industry! Click to view the special report on the AICE 2025 SMM (20th) Aluminum Industry Conference and Expo.

Jiangxi's significant position in the national copper industry is self-evident!

In response to the requests of many companies in the copper industry chain and to enhance communication between upstream and downstream enterprises, SMM Information & Technology Co., Ltd. (SMM) has meticulously organized a copper industry field trip to Jiangxi from April 24 to 26.

In response to the requests of many companies in the copper industry chain and to enhance communication between upstream and downstream enterprises, SMM Information & Technology Co., Ltd. (SMM) has meticulously organized a copper industry field trip to Jiangxi from April 24 to 26.

In response to the requests of many companies in the copper industry chain and to enhance communication between upstream and downstream enterprises, SMM Information & Technology Co., Ltd. (SMM) has meticulously organized a copper industry field trip to Jiangxi from April 24 to 26.

In response to the requests of many companies in the copper industry chain and to enhance communication between upstream and downstream enterprises, SMM Information & Technology Co., Ltd. (SMM) has meticulously organized a copper industry field trip to Jiangxi from April 24 to 26.