SMM April 15 News: Dealers in Hubei reported that end-use consumption in the automotive storage battery market remained sluggish, and battery inventory digestion was slow. Currently, battery inventory exceeded one and a half months. In addition, selling prices in the battery wholesale market remained unchanged for the time being, with the main model 6-QW-45Ah priced at 180-200 yuan/unit. Manufacturers in Zhejiang reported that replacement demand in the automotive storage battery market was weak, and dealers were cautious in purchasing. To avoid further inventory buildup, the factory operating rate was approximately 80%. In addition, raw material lead was procured through long-term contracts. Manufacturers in Guangdong reported that the automotive storage battery market was in the off-season. Domestic sales of batteries were mediocre, and coupled with obstructed battery exports, the factory operating rate was currently around 70%, with raw material lead purchased as needed.

[SMM Coking Coal and Coke Daily Brief] Supply side, market sentiment improved recently, and coke enterprises actively increased shipments, leading to a continued decline in coke enterprise coke inventory. Demand side, steel mills currently maintained high production enthusiasm, with daily average hot metal production continuing to increase, sustaining rigid demand for coke. However, steel mill profits were moderate recently, leading to poor acceptance of coke price hikes. Most steel mills purchased coke as needed, lacking willingness to restock. In summary, coke and steel enterprises will continue to negotiate, and the coke market may remain stable in the short term.

Premiums in the Tianjin region have consistently remained at a discount. How will premiums trend going forward?

[SMM Stainless Steel Daily Review] Indonesia Nickel Ore HMP Price Adjustment Drives Stainless Steel Futures and Spot Prices Higher On April 15, SMM reported that SS futures continued their strong upward trend. The market was further influenced by the adjustment of Indonesia's nickel ore HMP benchmark price, with SHFE nickel and stainless steel futures strengthening further. As of the midday close, the most-traded SS contract was quoted at 14,850 yuan/mt. Spot market side, driven by the dual factors of SS futures successively breaking through yearly highs and rising NPI costs following the adjustment of Indonesia's nickel ore HMP benchmark price, cost support for stainless steel strengthened significantly. Market sentiment returned to an actively bullish stance, and intraday quotes were raised. However, against the backdrop of rapidly rising prices, downstream end-users remained cautious. Although inquiries were active intraday and cargo pick-up for earlier orders was solid, actual transactions remained cautious. The most-traded SS futures contract strengthened. At 10:15 AM, SS2605 was quoted at 14,810 yuan/mt, up 220 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi ranged from 10-210 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coils in Wuxi rose by 50 yuan/mt; for cold-rolled untrimmed 304/2B coils, the average price in Wuxi rose by 200 yuan/mt and in Foshan by 100 yuan/mt; cold-rolled 316L/2B coils in Wuxi rose by 200 yuan/mt; hot-rolled 316L/NO.1 coils in Wuxi rose by 150 yuan/mt; cold-rolled 430/2B coils in both Wuxi and Foshan remained stable. The current stainless steel market is in the traditional peak season of "Golden March and Silver April." In the short term, macro...

As of now, the FOB price of Indonesian MHP nickel was $15,754/mt Ni, and the FOB price of Indonesian MHP cobalt was $50,795/mt Co. MHP payables (against SMM battery-grade nickel sulphate index) stood at 89-90, and the MHP cobalt element payable indicator (against SMM refined cobalt (Rotterdam warehouse)) was 93. The FOB price of Indonesian high-grade nickel matte was $15,716/mt Ni.

Future price Lead market: As of 15 April, LME 3M lead increased by $14 (+0.72%) compared to the previous session. Prices showed steady upward momentum, briefly testing $1,952.5/mt, with support near $1,935/mt, prices holding near intraday highs, suggesting continued resilience in the short term. Highlights of SEA countries spot lead market: Overall, the lead import market has slowed down. The ongoing situation in Middle East has increased ocean freight, affecting the willingness to import refined lead to distant markets such as Korea and India. Also, higher business loan interest rates in Vietnam, now at 8%, are prompting smelters and battery companies to reduce costs by limiting raw material inventories. Purchases are made on a hand-to-mouth basis, only against confirmed orders.

Platinum prices held up well today. The most-traded GFEX platinum contract PT2606 closed the morning session at 534.8 yuan/gram, up 1.71%, with the intraday high breaking through 3% to reach 544.65 yuan/gram. Spot side, mainstream quotations from spot platinum traders in the morning session were at a discount of 5-7 yuan/gram against the PT2606 contract, with the spot mainstream quotation discount widening compared to the previous trading day. Spot transactions side, according to SMM, most traders holding inventory continued to hold prices firm due to cost considerations and delivery intentions, with basically no transactions concluded at the discount of 5-7 yuan/gram. When futures prices hit intraday highs in the morning session, the absolute spot prices from upstream, when converted, showed a discount of over 10 yuan/gram against the GFEX 06 contract. The consumption side showed low acceptance of mainstream market quotations, with the price spread between bids and offers remaining wide. Downstream consumption was generally poor, with a wait-and-see stance prevailing. Some enterprises made small purchases through negotiation to meet rigid demand, and overall spot market transactions remained sluggish.

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Broke Above the 390,000 Mark, High Prices Suppressed Spot Cargo Transactions]

According to commercial big data, from January to March this year, sales of consumer goods under the trade-in policy exceeded 433.17 billion yuan, benefiting 60.933 million consumer visits. Specifically, 23.205 million units of six categories of home appliances were sold under the trade-in policy, driving sales of 95.43 billion yuan; 36.32 million digital and smart products were sold as new purchases, driving sales of 109.05 billion yuan.

The Dominican Republic and its Unified Council of Distribution Companies (CUED) have unsealed financial bids for a major public tender aimed at integrating up to 600 MW of new renewable generation. A standout feature of this procurement is the strict mandate that all participating utility-scale solar and wind projects, ranging from 20 MW to 300 MW, must incorporate four-hour battery energy storage systems (BESS) to guarantee firm capacity and grid stability. Officials reviewed 20 proposals from qualified developers. Awarded projects are required to become operational within 24 months of signing long-term power purchase agreements (PPAs). These PPAs will be settled in US dollars to attract foreign investment, supporting the nation's broader strategy to hit a 30% re-energy share by 2030.