As we near the midpoint of the year, zinc concentrate treatment charges (TCs) have repeatedly tumbled to historic lows. As of June 5, the average TC for domestic zinc concentrate fell to 50 yuan per metric ton of metal content, while the TC for imported zinc concentrate dropped to -70.75 US dollars per dry metric ton.

I. Coal-to-Hydrogen Shandong anthracite transaction range [1,730-1,830], hydrogen cost average price at [1.78 yuan/m³] Shanxi anthracite transaction range [1,040-1,040], hydrogen cost average price at [1.17 yuan/m³] Hebei anthracite transaction range [1,520-1,520], hydrogen cost average price at [1.61 yuan/m³] Henan anthracite transaction range [1,030-1,130], hydrogen cost average price at [1.25 yuan/m³] II. Natural Gas-to-Hydrogen Pearl River Delta natural gas transaction range [6,600-6,620], hydrogen cost average price at [3.04 yuan/m³] Zhejiang natural gas transaction range [6,520-6,800], hydrogen cost average price at [3.04 yuan/m³] Guangxi natural gas transaction range [6,630-7,020], hydrogen cost average price at [3.08 yuan/m³] Eastern Guangdong natural gas transaction range [6,600-6,620], hydrogen cost average price at [3.01 yuan/m³] Henan natural gas transaction range [6,200-6,420], hydrogen cost average price at [2.93 yuan/m³] Hebei natural gas transaction range [6,170-6,510], hydrogen cost average price at [2.92 yuan/m³] Hubei natural gas transaction range [6,520-6,770], hydrogen cost average price at [3.05 yuan/m³] Guizhou natural gas transaction range [6,380-6,740], hydrogen cost average price at [3 yuan/m³] Sichuan natural gas transaction range [6,415-6,660], hydrogen cost average price at [3.02 yuan/m³] Shanxi natural gas transaction range [6,010-6,300], hydrogen cost average price at [2.82 yuan/m³] Shandong natural gas transaction range [6,295-6,500], hydrogen cost average price at [2.96 yuan/m³] Heilongjiang natural gas transaction range [6,170-6,440], hydrogen cost average price at [2.89 yuan/m³] Inner Mongolia natural gas transaction range [6,200-6,380], hydrogen cost average price at [2.84 yuan/m³] III. Propane-to-Hydrogen South China propylene oxide transaction range [6,970-7,050], hydrogen cost average price at [3.95 yuan/m³] East China propylene oxide transaction range [6,620-6,960], hydrogen cost average price at [3.84 yuan/m³] Northeast China propylene oxide transaction range [6,140-6,450], hydrogen cost average price at [3.59 yuan/m³] Shandong propylene oxide transaction range [6,760-6,860], hydrogen cost average price at [3.87 yuan/m³] IV. Methanol-to-Hydrogen East China methanol transaction range [3,010-3,330], hydrogen cost average price at [2.69 yuan/m³] Central China methanol transaction range [2,950-3,250], hydrogen cost average price at [2.68 yuan/m³] North China methanol transaction range [2,780-2,940], hydrogen cost average price at [2.46 yuan/m³] South China methanol transaction range [3,350-3,450], hydrogen cost average price at [2.83 yuan/m³] Northwest China methanol transaction range [2,450-2,950], hydrogen cost average price at [2.34 yuan/m³] Southwest China methanol transaction range [2,940-3,220], hydrogen cost average price at [2.67 yuan/m³] Northeast China methanol transaction range [3,110-3,130], hydrogen cost average price at [2.65 yuan/m³]

As of Wednesday, the spot price of SiMn 6517 (cash) in the north China market was 5,900-6,000 yuan/mt, down WoW from the previous Wednesday; the spot price of SiMn 6517 (cash) in the south China market was 6,000-6,100 yuan/mt, also down WoW from the previous Wednesday. Currently, SiMn futures and spot prices were moving sideways within a mid-range overall, and the short-term support of raw material costs for spot prices had somewhat weakened.

Qiya Guizhou Group's fine alumina project achieved a significant milestone, with the first 200,000 mt production line officially commencing operations on May 30. It is understood that the project has a planned total annual capacity of 800,000 mt, and the entire project is expected to be completed by 2027.

According to the official website of Qiya Group, on May 30, Qiya Guizhou Group's fine alumina project reached a historic milestone — the first-phase 200,000 mt/year production line was officially put into operation. The project is expected to have a total capacity of 800,000 mt/year and is expected to be fully completed by 2027. At that time, it will fill the regional market gaps in major demand areas such as the Pearl River Delta, the Yangtze River Delta, and Hunan, driving over 460 types of fine alumina products and covering more than 2,000 industries, ushering in an industrial transformation from "ore" to "high-end precision."

SMM, MAY 31 – In May 2026, China's metallurgical-grade alumina production increased by 2.8% month-on-month, while edging down 0.19% year-on-year. As of the end of May, the national installed capacity stood at approximately 116.42 million tons, with new capacity commissioning increasing slightly compared to April. However, due to the slow recovery of maintenance work in the Guangxi region, coupled with concentrated maintenance in northern China, overall operating capacity fell by 0.43% month-on-month and decreased by 0.09% year-on-year, failing to sustain high operating levels during the month. In terms of production structure, average daily output in May declined from April levels. Specifically, in Shanxi and Henan provinces, output dropped due to minor maintenance and some plants yet to fully resume normal production lines. Meanwhile, a major alumina producer in northern China also initiated maintenance, further dragging down overall output in the north. In contrast, the southern region saw a recovery in production, supported by the release of new capacity. In addition, an alumina producer in Guizhou resumed operations, which helped offset the output decline in the north to some extent, preventing a sharp drop in national average daily output. Looking ahead to June, the supply surplus in the alumina market is expected to intensify. The main driving factors include the continued recovery of capacity in Guangxi, the full release of Phase I of new capacity projects, and the gradual conclusion of maintenance work in northern China. On balance, operating capacity in June is expected to rise to approximately 87.6 million tons, further increasing supply pressure.

SMM May 5 News: 【Guangdong 40,000-ton waste power battery recycling project launched】Recently, the Huizhou Municipal Bureau of Ecology and Environment in Guangdong Province issued a public notice of project acceptance for the "Annual 40,000-ton Waste Power Battery Anode Graphite, Aluminum-Plastic Composite Film, and Separator Recycling Project" of a Guangdong company. According to the notice, the total investment is 116 million yuan, and the project site is located in Boluo County, Huizhou, Guangdong. The project will build an annual 40,000-ton waste power battery anode graphite, aluminum-plastic composite film, and separator recycling facility, regenerating 20,000 tons of waste battery anode graphite, 10,000 tons of aluminum-plastic film, and 10,000 tons of separator per year. 【Guiyang 120 million yuan lithium battery green recycling project launched】Recently, the Guiyang Comprehensive Bonded Zone in Guizhou Province released the first public participation announcement for the environmental impact assessment of a Guizhou company's "Guiyang Comprehensive Bonded Zone Waste Lithium Battery Green Recycling and High-Value Utilization Industrial Base Project". According to the announcement, total investment is 120 million yuan, and the site is located in the Guiyang Comprehensive Bonded Zone. The project will purchase three sets of equipment, and plans to build one waste lithium battery recycling and dismantling production line, one cathode and anode sheet crushing production line, and one echelon utilization production line, rapidly forming large-scale production capacity. 【Huai'an, Jiangsu: 30,000+ ton waste LFP battery comprehensive recycling project landed】Recently, the Huai'an Municipal People's Government in Jiangsu Province issued a notice regarding the proposed review of the environmental impact report for a Jiangsu company's "High-Value Comprehensive Recycling of Waste LFP Batteries and Scrap to Produce 10,000 mt/year Battery-Grade Lithium Carbonate Project". Currently, the project will construct one dismantling and crushing line for retired LFP battery cells, one dismantling and crushing line for scrap LFP battery cells and LFP cathode sheets, and one hydrometallurgical lithium extraction line for black mass. 【Tianjin Jinghai adds 10,000-ton waste LFP battery processing project】Recently, the Administrative Approval Bureau of Jinghai District, Tianjin, issued a notice on the acceptance of the environmental impact report for a Tianjin company's "LFP Battery Material Deep Processing Project". According to the notice, the company plans to invest 120.1 million yuan to build the "LFP Battery Material Deep Processing Project", purchasing one crushing and sorting line and LFP mixed black mass deep processing equipment. It will mainly crush and sort externally purchased waste LFP batteries, and further utilize part of the LFP mixed black mass obtained from crushing and sorting. It will add an annual waste LFP battery processing capacity of 10,000 tons and an LFP mixed black mass processing capacity of 5,000 tons. 【Wenzhou, Zhejiang: 5,000-ton waste power battery dismantling and standardized echelon project landed】Recently, the Longwan District People's Government of Wenzhou, Zhejiang Province, published an environmental impact assessment notice for a Zhejiang company's "Waste Power Battery Dismantling and Standardized Echelon Utilization Project". According to the notice, the company's project is located in the Wenzhou Bay New Energy Technology Industrial Park. The project will utilize existing factory buildings to set up one module and pack assembly line and two used lithium battery pack physical dismantling lines, without involving cell disassembly. Upon completion, th

A Guizhou company’s energy storage high-end phosphorus-based cathode material industrialization project, located in Kaiyang County, has commenced environmental impact assessment work. The project will build a 150,000 t/a LFP production line, constructing a high-density LFP production workshop and associated auxiliary and environmental facilities. This expansion will be carried out within the existing plant area without adding new land.

The Guiyang Comprehensive Bonded Zone in Guizhou Province has published the first public participation announcement for the environmental impact assessment of a Guizhou company’s lithium battery green recycling and high-value utilization industrial base project. According to the disclosed information, the total investment is 120 million yuan. The project will be located in the Guiyang Comprehensive Bonded Zone and will procure three sets of equipment, planning to build one waste lithium battery recycling and dismantling production line, one cathode and anode sheet crushing production line, and one echelon utilization production line, rapidly forming large-scale capacity.

This week (May 22–29), the scrap lithium battery recycling sector nationwide saw a wave of project announcements and implementations, involving more than ten provinces and cities including Guangdong, Hebei, Jiangsu, Anhui, Tianjin, Zhejiang, and Hubei. The newly added processing capacity totaled over 200,000 mt/year, covering multiple segments such as second-life application, dismantling and crushing, lithium extraction from black mass, and cathode material repair. The industry's capacity expansion entered an acceleration phase.