SMM News: As of March 20, 2026, the market price for Praseodymium-Neodymium (Pr-Nd) metal in China stabilized temporarily at 890,000–910,000 RMB/ton. This article utilizes the SMM Pr-Nd Terminal Demand Calculation Model to dissect the demand logic for 2026 across three core sectors—New Energy Vehicles (NEVs), Internal Combustion Engine (ICE) vehicles, and Wind Power—explaining the current supply-demand dilemma facing the NdFeB magnet and broader Pr-Nd markets.

As expectations for the peak-season demand in the “Golden March” gradually begin to materialize, galvanizing operating rates are rising. Can downstream consumption sustain its peak-season performance going forward?

[SMM Brass Bar Flash] Affected by the sharp correction in copper prices, some terminal clients saw intensified wait-and-see sentiment, and the pace of order placement slowed somewhat, causing certain disruptions to new orders for brass billet. Overall, however, most large and medium-sized enterprises currently had sufficient orders on hand and were stepping up production to rush deliveries, driving the operating rate of the brass billet industry up 2.18 percentage points WoW to 54.13% this week (3.13-3.19).

[SMM Aluminum Express News] Prime Minister Narendra Modi dedicated India's first fully automated dry-bulk cargo terminal, the Haldia Bulk Terminal (HBT), to the nation on Saturday (March 2026). Developed by Adani Ports and Special Economic Zone Limited (APSEZ) at the Haldia Dock Complex (Syama Prasad Mookerjee Port, Kolkata), the facility has an annual handling capacity of 4 MMTPA. Key features: 1. Full mechanisation and automated cargo handling 2. Direct rail connectivity via a 1.54 km dedicated rail line 3. 2,000-tonne Railway Wagon Loading System (RWLS) for seamless ship-to-train transfer The eastern seaboard handles ~60% of India's dry-bulk imports (coal, bauxite, limestone), vital for steel, aluminium, and power sectors.

This week, the second-life battery market showed clear structural divergence. On the cost side, although lithium carbonate prices saw a temporary uptick this week, they trended downward overall; nickel sulphate prices edged down slightly, while cobalt sulphate prices remained stable. The cost side was mainly affected by fluctuations in lithium carbonate prices. On the supply side, driven by terminal energy storage demand, inventories of new battery cells at battery cell manufacturers were critically low, and the supply of Grade A battery cells was heavily diverted, causing supply in the second-life battery market to remain tight. On the demand side, 280Ah and 314Ah energy storage battery cells were subject to concentrated procurement in the market, resulting in severe shortages and noticeably rising prices. Meanwhile, demand in the EV sector remained weak, inventory was relatively sufficient, and second-life power battery cell prices stayed stable.

[SMM Nickel Flash] March 17 News. Supply side, some smelters held firm on quotations, but amid the futures decline and stainless steel finished product prices coming under pressure, some traders feared buying at elevated levels. Demand side, terminal demand remained weak and struggled to accept high prices for stainless steel finished products. Meanwhile, the cost advantage of steel scrap widened, and steel mills' willingness to procure high-grade NPI turned sluggish again.

On March 11, Putailai disclosed an announcement regarding investing in the construction of an anode material production base in Malaysia. The project, to be undertaken by Zichen Malaysia Sdn. Bhd., involves the construction of an annual 50,000-ton lithium-ion battery anode material production facility, with a planned total investment of 297 million US dollars. The project aims to establish an international production capacity layout, deeply integrate into the global supply chain, serve customers locally, and meet the demands of downstream customers and the terminal market.

[SMM Stainless Steel Daily Review] SS Futures Continued to Pull Back, Stainless Steel Spot Quotes Were Lowered SMM News on March 19: SS futures extended their further downward pullback. Against the backdrop of hawkish remarks from the US Fed and escalating geopolitical conflicts, non-ferrous metal futures generally moved lower, with SS also declining in tandem and closing at 13,935 yuan/mt by the midday break. In the spot market, continued declines in SS futures significantly weakened market confidence; coupled with the recent pullback in high-grade NPI prices, market expectations for cost support also softened. In a market where transactions had already been sluggish this week, inquiries and deals weakened further; in addition, March supply remained high, prompting traders to lower their quotes for 304 stainless steel during the day. However, supported by news yesterday that steel mills were holding prices firm, 200-series stainless steel rose against the trend, with 201 stainless steel prices moving higher. Further attention should still be paid to downstream end-user purchase conditions. The most-traded SS futures contract fell and pulled back. As of 10:15 a.m., SS2605 was quoted at 13,930 yuan/mt, down 100 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the range of 340-540 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi rose 50 yuan/mt; for cold-rolled trim-edge 304/2B coil, the average price in Wuxi fell 150 yuan/mt and in Foshan fell 50 yuan/mt; cold-rolled 316L/2B coil in Wuxi fell 200 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi quotes fell 100 yuan/mt; cold-rolled 430/2... in both Wuxi and Foshan.

[Weekly Operating Rates in the Aluminum Processing Industry: China's Aluminum Processing Sector Sees Modest Growth Amid Peak Season Demand] This week, the weekly operating rate of leading downstream aluminum processing enterprises in China edged up 1 percentage point WoW to 62.9%.

[SMM Tin Morning Briefing: The Most-Traded SHFE Tin Contract Opened Slightly Higher in the Night Session and Then Fluctuated Downward, While Downstream Enterprises Concentrated Their Restocking on Dips]