On June 12, the combined sample enterprise hot rolled coil daily trading volume for SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 14,660 mt, up 1,440 mt, or 10.1%, day-on-day, and up 35.74% YoY on a solar calendar basis and 9.40% YoY on a lunar calendar basis.

June 12: Northern ports: South African high-iron ore: 31.4-32.1 yuan/mtu, down from last Friday; South African semi-carbonate ore: 37.8-38.3 yuan/mtu, flat from last Friday; Gabonese ore: 41-41.6 yuan/mtu, down from last Friday; 46% Australian lumps: 43.5-44 yuan/mtu, flat from last Friday; South African medium-iron ore: 37.5-38 yuan/mtu, down from last Friday. Southern ports: South African high-iron ore: 34.1-34.6 yuan/mtu, down from last Friday; South African semi-carbonate ore: 36.5-37 yuan/mtu, flat from last Friday; Gabonese ore: 41.5-42 yuan/mtu, down from last Friday; 46% Australian lumps: 43.5-44 yuan/mtu, flat from last Friday; South African medium-iron ore: 37-37.5 yuan/mtu, down from last Friday. The manganese ore market is steady but stagnant, end-use demand is sluggish, and a wait-and-see sentiment prevails.

In the spot market, lead prices fluctuated downward this week (June 8-12), initially dropping before rebounding slightly and then pulling back. The SMM #1 lead average price fell 200 yuan/mt cumulatively. Downstream enterprises made only just-in-time procurement, with overall purchase willingness remaining weak. Regionally, Henan smelters primarily delivered against long-term contracts, with traders' discount against the SHFE lead 2607 contract gradually narrowing from 130-110 yuan/mt to 30-0 yuan/mt. Hunan quotes shifted from a discount of 25-0 yuan/mt to a premium of 10-30 yuan/mt, reflecting a strengthening sentiment to hold prices firm. In Jiangxi and Anhui, premiums rose from 100-120 yuan/mt to 120-200 yuan/mt, with firm offer levels. Tianjin spot cargoes traded at a persistent discount of 120-80 yuan/mt, with sluggish transactions. Approaching the mid-year point, some merchants cut prices to clear inventory, while some enterprises holding limited cargoes held back from selling. Downstream enterprises prioritized capital recovery and reduced stockpiling, leaving overall market trading mediocre.

[SMM Chrome Daily: Prices Move Sideways, Transactions Remain Sluggish] June 12, 2026 – The ferrochrome and chrome ore markets fluctuate slightly...

[Transactions Improved Within the Week, Premiums Rose]: Spot premiums in Tianjin rose this week, up 20 yuan/mt WoW. As of this Friday, mainstream domestic brands were quoted at discounts of 30-80 yuan/mt against the 2607 contract, higher-priced brands at discounts of 20-30 yuan/mt against the same contract, and Tianjin market at a discount of about 50 yuan/mt against Shanghai.

[SMM Morning Meeting Minutes: Easing US-Iran Tensions, LME Zinc Center Moves Higher]: Overnight, LME zinc opened at $3,464/mt. It initially moved sideways along the daily average, dipping to $3,442/mt during the session. Entering the night session, bulls added positions, and LME zinc rallied all the way to reach a high of $3,534/mt near the end. It finally settled up at $3,525.5/mt, up $57/mt, or 1.64%. Trading volume fell to 14,639 lots, and open interest increased by 4,214 lots to 238,000 lots.

Recently, the first cell rolled off the production line at the battery factory of Times BAIC (Beijing) New Energy Technology Co., Ltd., marking the start of the mass production phase. Times BAIC was jointly invested in and constructed by CATL, BAIC Group, Beijing Energy Group, and Xiaomi Group. Currently, construction of the factory is nearing completion, with equipment for the second production line undergoing commissioning. Full-scale production is expected to commence in August. For the entire year of 2026, the factory is projected to produce 7.5 GWh of cells. Once the project reaches full capacity, it will form an annual power battery production capacity of 15 GWh, significantly enhancing the product strength and cost advantages for Beijing-Tianjin-Hebei vehicle manufacturers such as BAIC and Xiaomi.

[SMM Hot Rolled Coil Daily Transactions] On June 11, the total daily trading volume of hot-rolled coils among sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 13,220 mt, down 1,030 mt day-on-day, or -7.9%, Gregorian YoY +0.92%, and lunar YoY -6.31%.

[SMM Magnesium Weekly Review: Intensified Supply-Demand Tug-of-War, Magnesium Ingot Market Remains in Stalemate and Consolidation This Week] This week, the overall market for dolomite and magnesium products remained stable, with the market showing a supply-strong, demand-weak pattern. Dolomite quarries in Wutai, Shanxi, were shut down due to environmental protection measures, leading to localized tight supply of high-grade dolomite. However, national inventory remained ample, and downstream users purchased as needed, keeping prices stable. Magnesium ingot supply in major production areas was abundant, while downstream buyers only made just-in-time procurement, resulting in a stagnant market. Export orders were sluggish, with a strong wait-and-see sentiment. Magnesium powder followed the raw material trend, and the industry was in the demand off-season, with mediocre domestic and foreign trade transactions. Magnesium alloy production was steady, but enterprise orders diverged. Some producers saw rising inventory, an increase in low-priced supply, and a widening price spread. The supply-demand tug-of-war across the industry chain intensified, and short-term price fluctuations for various product categories remained limited, with the market expected to continue running steadily.

The 2nd SMM Southeast Asia Automotive Supply Chain Conference in 2025 was successfully held. At the conference, 10 new car models were unveiled, along with the Southeast Asia brand strategies of three automakers and SMM's Thailand domestic steel prices. It facilitated efficient negotiations between over 12 buyers and over 60 suppliers, initially establishing an exchange platform for the entire automotive industry chain in Southeast Asia. Currently, Southeast Asia's NEV industry has entered a critical development phase. Thailand, Indonesia, and Vietnam have each made strategic moves and breakthroughs, while the industry also faces challenges such as supply chain restructuring, technology route competition, and localization compliance. Fortunately, with support from all parties, SMM's Thailand and Indonesia domestic price systems have been launched and adopted by core enterprises, establishing a credible cost benchmark for the industry. The 3rd conference in 2026 will focus on three core areas: exploring the sales potential of NEVs in Southeast Asia, bridging the last mile of the supply chain and integrating regional industrial resources, upgrading SMM's Southeast Asia metal quotations from price references to transaction benchmarks, and implementing the procurement application of electrification materials and establishing an actionable pricing system. We firmly believe that real progress comes from turning consensus into action. At this conference, cordially invites you to gather again in Bangkok to jointly transform strategic blueprints into market competitive advantages, to witness and participate in this extraordinary and far-reaching industry event, and to create a brilliant new chapter together! Click the to register immediately. Booth No.: B06 Tianjin CIMC Logistics Equipment Co., Ltd. is located in Tianjin Economic-Technological Development Area. It mainly designs, develops and manufactures logistics equipment, trolleys, storage racks and special containers, etc. It currently has three production bases in Tianjin, Wuhu (Anhui) and Chuzhou (Anhui), and has obtained certifications including ISO 9001, ISO 14000, IATF 16949, ISO 45001 and ISO 50001 management system standards. Since 2000, we have designed and manufactured various general-purpose pallets, boxes, racks and other line-side equipment as well as precise material racks for automakers in Japan, Europe and the United States, and China. We provide customized products and services based on customer needs, offering integrated logistics solutions for the automotive industry. The company has its own product R&D and design team, has cumulatively developed over 2,000 product categories, and ships 700,000 sets of products annually. Tianjin CIMC Logistics Equipment Co., Ltd. is located in Tianjin Economic-Technological Development Area. The company specializes in the design, development and manufacture of logistics containers, trolleys, storage racks and special containers. It currently operates three production bases in Tianjin, Wuhu (Anhui) and Chuzhou (Anhui), and has obtained certifications including ISO 9001, ISO 14001, IATF 16949, ISO 45001 and ISO 50001 management system standards. Since 2000, we have designed and manufactured general-purpose pallets, bins, racks, inline tooling and precision part racks for automotive manufacturers in Japan, Europe, the United States and domestic China. We provide customized products and services tailored to client requirements, and deliver comprehensive logistics solutions for the automotive industry. We have our in-house product R&D and design team, with more than 2,000 product varieties developed with an annual shipment volume of 700,000 sets. Contact Information Contact Lian Hao +86-13820657998（English） Wu Xiaoshan +86-15822677128（Japanese） Contact Us Zhang Jingjie zhangjingjie@smm.cn