Silver is no longer just a “precious metal”, it has become the primary financial barometer for global instability.

[smm silicon-based pv morning meeting summary: upstream silicon market prices mostly stable over the weekend downstream module quotes show an upward trend] over the weekend, n-type recharging polysilicon quotes were 48-56 yuan/kg, the n-type polysilicon price index was 51.4 yuan/kg, and granular polysilicon quotes were 49-51 yuan/kg. polysilicon prices remained temporarily stable over the weekend. previously, the market sentiment was bearish, with limited transactions this weekend. the market is focusing on order signing conditions in early march, as well as the trend of silver prices amid international situations.

Gold and silver prices are expected to begin the week on a strong note when trading resumes on Monday, as escalating tensions in the Middle East push investors toward safe-haven assets, analysts said.

On March 2, the average price of SMM battery-grade nickel sulphate slightly declined compared to yesterday.

[SMMS Morning Meeting Summary: Last Week the Tin Market Showed a Pattern of Wide Swings at High Levels with Strong Macro Disturbances]

[SMM Cast Aluminum Alloy Morning Comment: Supply and Demand Gradually Recover, ADC12 Prices Hold Up Well] After the holiday, market inquiry activities gradually recover, and trading activity increases, but actual transaction volumes remain relatively limited. Currently, downstream enterprises are mainly focused on restocking based on rigid demand and prioritizing the digestion of pre-holiday inventory. Entering March, with the full resumption of production at end-user companies, the certainty of MoM demand improvement strengthens, and consumption is expected to continue its rebound. Following the Lantern Festival, as enterprises fully resume production, market circulation is expected to gradually increase.

[SMM Tin Morning Brief: SHFE Tin's Most-Traded Contract Fluctuates at Highs During Night Session Spot Market Transactions Remain Sluggish]

[Shagang's HRC Price Adjustment Information for March 2026] On March 1, Shagang steel mill adjusted the ex-factory prices of hot-rolled coils. This adjustment was based on the "Shagang's HRC Price Adjustment Information for February 2026 released on February 1". The specific adjustments are as follows: ① The price of HRC Q235B remains unchanged from the previous period. The current ex-factory price for Q235B 5.75*1500*C HRC is 3,500 yuan/mt. All the above adjustments are tax-inclusive and will be effective from March 1, 2026. [SMM Steel]

SMM Morning Meeting Summary: Last Friday evening, LME copper opened at $13,474.5/mt, initially fluctuating rangebound and reaching $13,527/mt. Later, the center of copper prices gradually shifted downward, touching $13,290/mt near the end of the session, and finally closed at $13,296/mt, with a gain of 0.28%. Trading volume reached 25,300 lots, and open interest stood at 315,000 lots, down by 497 lots from the previous trading day, mainly due to bears reducing their positions. The most-traded SHFE copper 2604 contract opened at 104,230 yuan/mt, quickly rising to 104,520 yuan/mt, then fluctuated downward, bottoming out at 103,100 yuan/mt, and finally closed at 103,280 yuan/mt, with a gain of 0.45%. Trading volume reached 77,700 lots, and open interest stood at 202,000 lots, down by 2,150 lots from the previous trading day, also characterized by bears reducing their positions.

So far, the FOB price of Indonesian MHP nickel is $15,658/mt Ni, and the FOB price of Indonesian MHP cobalt is $49,660/mt Co. The MHP payables (against SMM battery-grade nickel sulphate index) are 88-89, and the payable indicator for MHP cobalt element (against SMM refined cobalt (Rotterdam warehouse)) is 91. The FOB price of Indonesian high-grade nickel matte is $16,021/mt Ni.