SMM March 27 News: According to SMM, Baiyin Nonferrous Group's Northwest Lead-Zinc Smelter has launched an open bidding sale for approximately 100 tons of crude cadmium. According to official sources, the bidding floor price is set at a discount of RMB 1,000/ton against the SMM average price, with the highest bidder winning the auction. The bidding will proceed only if at least three companies register. The registration deadline is 5:00 PM on March 30, 2026, and the bidding will begin at 10:00 AM on March 31, 2026. Market participants noted that as cadmium prices have shown an upward trend recently, this bidding event is worth close attention. To some extent, it will reflect the strength of market demand and serve as a reference for whether cadmium prices can steadily rise.

SMM, March 27: According to SMM, the Northwest Lead and Zinc Smelter of Baiyin Nonferrous Group Co., Ltd. planned to conduct a public tender sale of about 100 mt of crude cadmium under its operations. According to the official announcement, the bidding floor price was set at a discount of 1,000 yuan/mt to the average price on SMM, and the highest bidder would win after the auction. This project required at least three registrants for the auction to proceed normally. The registration deadline was 17:00 on March 30, 2026, and bidding would begin at 10:00 on March 31, 2026. Market participants said that, as cadmium prices had recently shown an upward trend, this tender was also well worth watching. To a certain extent, it could reflect the strength of market demand and provide some reference as to whether cadmium prices could continue to rise steadily.

Australia's Lynas Rare Earths signed a binding letter of intent with the US Department of Defense to supply the US side with light and heavy rare earth oxides worth $96 million over four years, with a floor sales price for Pr-Nd of $110/kg. Based on this, the two sides will finalise a definitive agreement and discuss further cooperation on heavy rare earth supply. The agreement followed Lynas's expanded supply arrangement with Japan's JARE. Under the March 10 agreement, JARE will purchase at least 5,000 mt of Pr-Nd oxide annually at a floor price of $110/kg and buy 50% of Lynas's heavy rare earth production. The price floor matched the 10-year price commitment the US made to MP Materials last year, signalling that Western clients were willing to pay a premium for "non-China" rare earths.

On March 10, 2026, Lynas and Japan’s JARE signed a long-term deal featuring PrNd floor prices, profit-sharing, and heavy rare earth priority. Analyzing 2025 production data, this report evaluates the partnership’s commercial terms, operational progress, and downstream demand security.

SMM News on March 11: According to SMM, the Northwest Lead and Zinc Smelter of Baiyin Nonferrous Group Co., Ltd. launched a public tender sale for about 100 mt of crude cadmium under its operation. According to the official announcement, the bidding floor price was set at a discount of 500 yuan/mt to the average SMM price, and the highest bidder after the auction won the lot. This project required at least three registrants for the auction to proceed normally. The registration deadline was 17:00 on March 16, 2026, and bidding was scheduled to begin at 10:00 on March 17, 2026. Market participants said that, as cadmium prices had shown an upward trend recently, this tender was also well worth close attention. To a certain extent, it could reflect the strength of market demand and provide some reference as to whether cadmium prices could continue to rise steadily.

[Transaction Information on Molybdenum Concentrates] SMM News on March 4: A molybdenum concentrates enterprise in Jiangxi sold 40%–45% molybdenum concentrates, with copper averaging 1.985% and phosphorus averaging 0.068%. The transaction price was 4,450 yuan/mtu, with a bidding floor price of 4,410 yuan/mtu. Payment terms were 35% cash and 65% acceptance, and the volume was 320 mt.

PLS announced that it has entered into a 2-year spodumene concentrate offtake agreement with Canmax Technologies, covering annual supply of 150kt, with an option to extend the agreement for an extra 12 months. The agreement sets a floor price of USD1,000/t on an SC6 basis, with no upside price cap, providing downside protection while retaining full exposure to price increases. Meanwhile, Canmax will provide a USD100 million unsecured, interest-free prepayment, which will be offset against future spodumene deliveries. Supply is scheduled to commence in 2026, subject to receipt of the prepayment, with material sourced from PLS’ Pilgangoora operation. The agreement is expected to enhance PLS’ near-term liquidity while maintaining production and sales flexibility through optional volumes.

[A residential land plot in Hangzhou sold at a 28.13% premium] On July 29, three residential land plots were transferred in Hangzhou, with two sold at a premium and one sold at the base price, totaling 5.0346 billion yuan. Among them, the Shiqiao Unit residential land plot in Gongshu District was acquired by Hangzhou Weixing Xingchen Real Estate Co., Ltd. (Weixing Real Estate) after 43 rounds of bidding, with a total price of 1.913 billion yuan, a floor price of 19,627 yuan/m², and a premium rate of 28.13%.

[Shenzhen Longhua Lists a Residential Land Parcel for Sale] Shenzhen Municipality has issued a notice on the transfer of state-owned construction land use rights, proposing to transfer a residential land parcel in Longhua District through a listing process, with a starting price of 1.684 billion yuan. According to the land parcel information, Plot A802-0309 is located in Minzhi Subdistrict, Longhua District, designated for Class II residential use. The land area is 21,820.58 m², with a construction area of 61,090 m². The starting price for the listing is 1.684 billion yuan, and the starting floor price is 27,566 yuan/m². The transfer conditions indicate that the residential construction area of the plot is 59,870 m², and the commercial construction area of 600 m² is allowed to be divided and transferred. The property rights of the childcare institution belong to the government and shall be handed over free of charge by the successful bidder upon completion. Construction of the plot must commence within 1 year from the date of signing the "Transfer Contract" and be completed within 4 years. The land parcel will be traded on July 7.

In the long run, as an important raw material in the new energy battery industry, lithium carbonate, despite facing challenges such as short-term price fluctuations and market competition, still has broad demand prospects driven by the continuous growth of markets like NEVs and ESS.