Gold has rebounded from its July low, but Jeff Currie sees much more upside ahead as tight supply meets rising commodity demand.

Recently, the Qinghai Provincial Energy Administration launched a call for experts for its expert database in the energy sector, selecting candidates with professional competence and practical experience from relevant organizations to further strengthen energy decision-making consultation capabilities and enhance the professionalism of energy planning, policy research, and industry administration. The call covers coal, oil and gas, power, renewable energy, energy storage, hydrogen energy, energy conservation and carbon reduction, workplace safety, and intelligent technologies, and also includes related professional areas such as engineering design, consulting and evaluation, detection and certification, and cost estimation and auditing. Experts to be included in the database are divided into three categories: First, project review experts, who mainly participate in the review of materials such as project construction plans, technical renovation plans, funding application reports, and feasibility study reports in the energy sector, and provide professional support for project management, cost evaluation, and financial analysis. Second, technical consulting experts, who mainly provide technical advice for the routine administration of the energy industry, participate in work such as the formulation of industry standards, demonstration of technical routes, on-site verification, safety assessment, and energy efficiency evaluation, and also offer recommendations on the implementation of energy policies, execution of technical standards, and emergency response. Third, strategic research experts, who focus on the province’s energy development needs, participate in the preparation of energy development plans, research on industrial policies, demonstration of institutional and mechanism reforms, and assessment of market conditions, and provide intellectual support for industry research, policy design, data modeling and analysis, and capacity building. The notice specifies that applicants should support the leadership of the Communist Party of China, comply with national laws and regulations, and possess sound political integrity and professional ethics; be in good health; and, in principle, be no older than 65, with appropriate flexibility for academicians and experts receiving the State Council’s special government allowance. Applicants should also have no adverse records such as illegal or disciplinary violations or dishonesty, and must not be listed as judgment debtors subject to enforcement for dishonesty. In terms of professional competence, applicants must be familiar with relevant policies and regulations, technical standards, industry development conditions, and market operating rules in the energy sector, and have a high level of professional theoretical knowledge and extensive practical experience. In principle, applicants should hold a senior or above professional technical title, or possess an equivalent professional level; for frontline technical backbones and managers with outstanding performance and extensive practical experience, the relevant requirements may be appropriately relaxed. Expert candidates mainly come from research institutes, key laboratories, and new-type R&D institutions; enterprises in coal, oil and gas, power, new energy, energy storage, hydrogen energy, and equipment manufacturing; service institutions such as engineering design, consulting and evaluation, detection and certification, cost estimation and auditing, and safety evaluation; as well as industry associations, universities, industrial alliances, and other organizations. The call will be carried out through organizational recommendations. Eligible individuals must obtain review and approval from their organization’s human resources department or competent business department, complete the application materials and recommendation opinions as required, and be submitted collectively by the recommending organization. Application materials mainly include the expert application form, a recent color ID photo, a copy of the ID card, academic degree and diploma certificates, professional technical title or professional qualification certificates, and proof of major achievements over the past five years. Other materials that can demonstrate the applicant’s professional competence may be provided voluntarily. Experts included in the database will participate in work such as approval or filing evaluation of energy-sector projects, review of construction plans, review of funding applications, and completion acceptance, and will also undertake research and demonstration on energy development plans, special plans, industrial policies, and standards and specifications, as well as matters such as workplace safety inspections, credit evaluation, and data verification. In addition, experts may participate in activities such as power market analysis, policy interpretation, research projects, academic exchanges, professional training, and science popularization, and, in accordance with relevant provisions, enjoy rights including receiving service remuneration, voluntarily withdrawing from the expert database, and providing comments and suggestions on the management of the expert database.

On August 14, the SMM battery-grade nickel sulphate average price declined.

[SMM Magnesium Market Analysis: Consolidating at Lows and Awaiting a Turning Point, Clear Pattern of Both Supply and Demand Growth in August] Currently, China's magnesium prices remain in a low-level, narrow sideways consolidation trend, with market price fluctuations narrowing markedly. With industry participants on summer vacation and the market news environment quieting down, overall trading activity is sluggish. As the market enters the critical August window, magnesium prices are about to see a new turning point in their trend. The supply-demand structure, regional supply differences, and cost support will jointly dictate the subsequent market direction.

As of now, the FOB price of Indonesian MHP nickel is $15,083/mt Ni, and the FOB price of Indonesian MHP cobalt is $45,185/mt Co. MHP payables (against the SMM battery-grade nickel sulphate index) stand at 83.5-84.5, and MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) stand at 86. The FOB price of Indonesian high-grade nickel matte is $15,505/mt Ni.

On August 13, the SMM battery-grade nickel sulphate average price declined.

On August 12, the average price of SMM battery-grade nickel sulphate held steady.

To adapt to the reshaping of global trade patterns and the commodity supercycle triggered by new quality productive forces, accelerate the implementation of Shanghai’s deployment for building a commodity resource allocation hub in the first year of the "15th Five-Year Plan," further promote the "Action Plan for Strengthening Spot-Futures Linkage to Enhance the Energy Level of Nonferrous Metal Commodities" (18 measures), and elevate the "Shanghai Price" from a regional indicator to an international benchmark, SMM will host the "2026 Shanghai Metals Week" (English: Shanghai Metals Expo, abbreviated as "SME") from November 16 to 19, 2026. Against this backdrop, the 2026 Shanghai Metals Week will be grandly held from November 16 to 19 in Shanghai , SMM joins hands with Sanshui Industrial Co., Ltd. to invite you to attend , and this session of SME Shanghai Metals Week, with the theme of "Cycle Reshaping, Pricing the Future," focuses on core variables such as global macro policy shifts, geopolitical supply chain restructuring, and the metal supercycle, striving to build an annual event as an "information port, pricing benchmark, trading platform, and social network" for the metal and related industries, helping the industry move from passively accepting cycles to actively participating in pricing. Click to register immediately for the conference, and we look forward to meeting you at the event. Sanshui Industrial Co., Ltd.'s main business focuses on seven core categories: copper, aluminum, lead, zinc, tin, nickel, and precious metals. Relying on the geographical advantages of Shanghai and Foshan, robust financial strength, and the extensive management and operational experience of its business team, the company quickly established a reputation for pragmatism and integrity in the industry, and has a large number of high-quality clients in China's core nonferrous metal consumption regions. By providing high-quality products, standardized business operations, and safe and flexible trading models, it offers value-added services to industry chain clients. The company leverages a mature full-domain supply chain layout to fully connect upstream and downstream resources and jointly pursue a new phase of industrial collaborative development. Breaking away from traditional trade models, the company relies on professional teams to provide value-added services such as market analysis and procurement optimization, and combines full-process risk control with flexible financial transaction solutions to strengthen transaction security and service barriers. In 2025, the enterprise's total trade volume exceeded 30 billion yuan, with steady growth across multiple business categories, and its comprehensive strength remained at the forefront of the industry. Sanshui Industrial will adhere to the strategic approach of combining spot trade with financial derivatives, uphold the business philosophy of balancing risk control with operations, persist in the development direction of channel building and internationalization, and continuously expand its business into integrated areas such as commodity industry chain investment and commodity supply chain financial services, developing into a leading domestic integrated commodity industry chain operator and manager. Main Products Address: Suite A, 2/F, No. 2550 Zhongshan North Road, Putuo District, Shanghai Tel: 021-32258953 Contact: Domestic trade: 15821697119 Zhou Long Foreign trade: 17371432429 Chen Yitong SMM Conference Contact Ma Yao 18321395342 mayao@smm.cn

As of now, the FOB price of Indonesian MHP nickel is $15,273/mt Ni, and the FOB price of Indonesian MHP cobalt is $47,840/mt Co. The MHP payables (against the SMM battery-grade nickel sulphate index) is 82.5-83.5, and the MHP cobalt payable indicator (against SMM refined cobalt (Rotterdam warehouse)) is 90. The FOB price of Indonesian high-grade nickel matte is $15,700/mt Ni.

On August 7, SMM battery-grade nickel sulphate average price remained stable.