Affected by the supply-demand relationship, MHP and high-grade nickel matte nickel prices rose this week

This week，the solid-state battery industry showed a dual-engine momentum driven by "intensive breakthroughs on the technology front and targeted solutions on the policy front." CATL disclosed a sulphide patent, Zhongkeyuanben's 20Ah all-solid-state battery passed third-party detection, and Dreame Technology released a 450Wh/kg product; Guangdong took the lead in incorporating diversified solid-state battery technology routes and eVTOL scenarios into provincial-level action plans.

In contrast to the typical price declines seen during the traditional spring festival low season from January to February in previous years, China’s domestic manganese sulfate market has recently staged an independent rally of “strong performance amid the off-season”, with prices rising steadily along the way.

Mar 2026 , Hong Kong’s shipping industry reached a pivotal moment in its green transition: Sinopec CNOOC Fuel Supply, a subsidiary of COSCO SHIPPING Group, together with Sinopec Hong Kong and CMG RoRo, successfully completed Hong Kong’s first green methanol bunkering operation , while also setting a national first record for green methanol bunkering at anchorage , marking Hong Kong’s official entry into a new stage of bunkering green alternative marine fuels. The operation was carried out throughout by the “Daqing 268” vessel , independently operated by Sinopec CNOOC Fuel Supply. The vessel was China’s first methanol dual-fuel powered bunkering ship for both oil products and chemicals, featuring advanced technical performance and independently controllable core equipment. Its propulsion system achieved 100% localisation and adopted a dual-fuel drive mode using methanol and conventional fuels. The vessel is 109.9 meters in length, has a deadweight of 7,500 mt, and a total tank capacity of 10,362 m³. It can transport and bunker multiple clean energy products, including methanol, biodiesel, and fuel oil, meeting the needs of multiple batches and multiple bunkering standards. It is also legally qualified to operate on Hong Kong and Macao routes, making it a critical link in green shipping services connecting the Guangdong-Hong Kong-Macao Greater Bay Area. The successful completion of the first bunkering operation through the coordination of multiple central state-owned enterprises fully demonstrated their collaborative strength in the field of green shipping. It not only aligned with the Hong Kong SAR Government’s green shipping plans, but also laid a solid foundation for the future normalised development of green methanol bunkering business between mainland China and Hong Kong and Macao.

[SMM Stainless Steel Daily Review] SS Futures Struggled to Break Out of Rangebound Trading, Spot Market Held Prices Steady While Actively Shipping SMM News, March 13: SS futures remained in the doldrums. However, after opening higher in the night session, SS fluctuated downward, with the pace of pullback accelerating further in the afternoon, and closed at 14,190 yuan/mt. In the spot market, affected by fluctuations in futures, quotations were largely stable, with limited changes during the week. Although the recovery in downstream demand and cargo pick-up of previous orders provided support, and stainless steel social inventory stopped rising and pulled back this week, market expectations remained mediocre, with merchants mainly holding prices steady while actively making shipments. The most-traded SS futures contract fluctuated stronger. As of 10:15 a.m., SS2605 stood at 14,275 yuan/mt, down 15 yuan/mt from the previous trading day. Spot premiums for 304/2B in Wuxi were in the range of 245-445 yuan/mt. In the spot market, cold-rolled 201/2B coils in Wuxi were all basically stable; for cold-rolled trimmed 304/2B coils, the average prices in both Wuxi and Foshan were basically stable; cold-rolled 316L/2B coils in Wuxi were basically stable; hot-rolled 316L/NO.1 coils were quoted basically stable in Wuxi; and cold-rolled 430/2B coils in both Wuxi and Foshan were basically stable. Entering the traditional peak consumption season of “Golden March and Silver April,” the stainless steel market ushered in a window for demand recovery, with downstream end-users gradually recovering and inquiry and purchase activity having picked up notably recently. However, stainless steel spot prices overall remained basically stable, with no obvious fluctuations. End-user procurement mainly followed rigid demand, and a full-scale peak-season boom had yet to emerge, while wait-and-see sentiment still lingered in the market. On the futures side, affected by Yi...

On March 9, the New Product Launch Conference for the Sixth Academy of the Aerospace Science and Technology Corporation’s hydrogen energy industry was held in Beijing, where four core achievements were unveiled on site: the side-mounted 2×40 kg-class onboard liquid hydrogen system (Saidao-1000S), a mobile liquid hydrogen refueling skid and hydrogen dispenser, a 40-foot liquid hydrogen tank container, and a 200-cubic-meter innovative alkaline electrolyzer . The Blue Book on the hydrogen energy industry was also officially released. The conference brought together academicians, ministry officials, representatives from government, enterprises, universities, and the industry chain, marking the Sixth Academy’s liquid hydrogen equipment portfolio as having fully entered a new stage of commercial application. High-Level Participation to Jointly Discuss a New Blueprint for the Hydrogen Energy Industry The conference featured a high-profile lineup, with three academicians—Long Lehao, Yang Fengtian, and Wang Jue—in attendance, along with relevant officials from the State Administration for Market Regulation and the National Energy Administration; leaders from the Aerospace Science and Technology Corporation and affiliated enterprises also attended, including Li Zhongbao, Chief Engineer of the Aerospace Science and Technology Corporation, Xie Yun, Chairman of Aerospace Investment, and Wang Wanjun, President of the Sixth Academy. Supervisory government authorities from multiple regions, experts from renowned universities, executives from central state-owned enterprises such as Sinopec, China Huadian, and FAW, as well as capital-side representatives from numerous hydrogen energy enterprises gathered together to witness the commercialization of aerospace hydrogen energy achievements. Praise From Academicians and Remarks by Senior Executives Highlight Aerospace Hydrogen Energy’s Leadership Academician Long Lehao congratulated the launch of the new products, noting that this represented a milestone breakthrough in China’s cryogenic liquefaction and hydrogen energy equipment fields, opening a pathway for aerospace hydrogen energy to serve the national economy and aligning with the national “dual carbon” and energy security strategies. Li Zhongbao, Chief Engineer of the Aerospace Science and Technology Corporation, stated that the Group regarded hydrogen energy as a strategic growth pole and would work with all parties to build a collaborative and shared industrial ecosystem and promote deep integration across the industry chain. Wang Wanjun, President of the Sixth Academy, said that the Academy adhered to the philosophy of “users first, power first,” and that multiple hydrogen energy equipment products had reached internationally advanced levels. In the future, it would accelerate technological iteration, improve the standards system, and make every effort to achieve the goal of bringing liquid hydrogen technology to the pinnacle. Four Powerful New Products Cover the Full Range of Production, Storage, Transportation, and Refueling Scenarios 1 Side-Mounted 2×40 kg-Class Onboard Liquid Hydrogen System (Saidao-1000S) China’s first subcooled liquid hydrogen system installed on a vehicle, it pioneered dual-cylinder coordinated liquid supply technology and delivered a driving range of over 1,000 kilometers at full load. It adopted an integrated chassis design to reduce wind resistance and release front-end space, and has already been demonstrated jointly with Foton Motor, making it suitable for the large-scale application of liquid hydrogen heavy trucks. 2 Mobile Liquid Hydrogen Refueling Skid and Liquid Hydrogen Hydrogen Dispenser China’s first mobile refueling system for subcooled liquid hydrogen, it fills the gap in temporary refueling for non-fixed stations. By achieving breakthroughs in core technologies, it delivers a liquid hydrogen utilization rate of over 95%, a refueling flow rate of 15 kg/min, and completes full-tank refueling for a heavy truck in 15 minutes, with performance comparable to world-class international standards. 3. 40-Foot Liquid Hydrogen Tank Container The first standardized liquid hydrogen storage and transport equipment, compatible with global road and maritime logistics, with the transport radius extended to over 2,000 kilometers and unit costs reduced by 50% compared with high-pressure gaseous hydrogen. The daily evaporation rate was 0.52% and could be maintained for more than 8 days, addressing the pain points of low storage and transport volume and high costs. 4. 200 m³ Innovative Alkaline Electrolyzer Built on aerospace technology, with direct current (DC) power consumption as low as 4.1 kWh/Nm³, reaching the national Grade 1 energy efficiency standard; the modular design reduced operation and maintenance costs by 90%, supported 12-hour rapid on-site repair, and met the needs of green hydrogen production in multiple scenarios.

Recently, Donghua Engineering Technology Co., Ltd. (Donghua Technology) released a major contract announcement. On March 5, 2026, in Hefei, Anhui province, the company formally signed an EPC general contracting agreement for Phase I, Stage 1 Green Ammonia Works of the 800,000-mt/year wind and solar power hydrogen-ammonia integration project with Renewable Green Hydrogen Energy (Inner Mongolia) Co., Ltd. (“Renewable Green Hydrogen”), supporting the scaled implementation of Inner Mongolia’s green hydrogen and green ammonia industry. I. Core Project Overview The project signed this time is the first-phase works of the 800,000-mt/year wind and solar power hydrogen-ammonia integration project. The plant’s design capacity is **200,000 mt/year of green ammonia**. The scope of construction covers a complete supporting system including newly built process production units, storage and transportation units, auxiliary facilities, utilities, and front-of-plant living facilities. Relying on wind and solar power renewable energy to produce hydrogen and synthesize green ammonia, it will build a clean, low-carbon chemical industry chain. II. Key Contract Information Contract Value : 2.026 billion yuan (provisional estimate) Schedule Arrangement : The contract duration is approximately 27 months, and the planned mechanical completion date is expected to be June 18, 2028 Scope of Contracting : Donghua Technology is fully responsible for the full-process EPC work, including pre-project consulting, design, procurement, construction and installation, testing and detection, cooperation for completion acceptance, operation support, construction-period insurance, handover, and start-up commissioning guidance. III. Project Entity and Performance Assurance The entity responsible for the project’s construction and operation is Renewable Green Hydrogen Energy (Inner Mongolia) Co., Ltd. Its controlling shareholder is Yijingxing Green Hydrogen Energy Investment (Hainan) Co., Ltd., and the ultimate controlling party is Renewable Green Hydrogen Energy Technology Asia Co., Ltd. Currently, the project has completed the investment project filing with the Inner Mongolia Autonomous Region, and the partners have sufficient performance capability, laying a solid foundation for the smooth advancement of the project.

SMM Nickel News, March 13: Macro and market news: (1) On the 12th, Pan Gongsheng, governor of the central bank, chaired a symposium with economic and financial experts. Pan Gongsheng said that in the next stage, the People’s Bank of China would build a scientific and prudent monetary policy framework, continue to effectively implement a moderately accommodative monetary policy, and step up counter-cyclical and inter-cyclical adjustments. (2) In the first statement since taking office on March 12, Iran’s new supreme leader, Mojtaba Khamenei, said that all US military bases in the Middle East should be closed immediately, or they would come under attack. Mojtaba Khamenei said the Strait of Hormuz would remain closed. Spot market: On March 13, the SMM price of #1 refined nickel rose by 400 yuan/mt from the previous trading day. Spot premiums, Jinchuan #1 refined nickel averaged 6,650 yuan/mt, down 100 yuan/mt from the previous trading day; China’s mainstream electrodeposited nickel brands were at -300-400 yuan/mt. Futures market: The most-traded SHFE nickel contract (2605) once climbed above 140,000 yuan/mt in early trading, then pulled back sharply, and closed the morning session at 138,030 yuan/mt, down 0.1%. Recently, the US dollar has continued to strengthen, weighing on nickel prices. In the short term, the price of the most-traded SHFE nickel contract is expected to move sideways in the 130,000-140,000 yuan/mt range.

[Magnesium Alloys Lead New Quality Productive Forces, Hydrogen Storage Goes Global + Vehicle Weight Reduction Reaches New Peaks] China’s magnesium alloy sector achieved two major breakthroughs, demonstrating the strong capabilities of indigenous innovation. On the one hand, a large-scale magnesium-based solid-state hydrogen storage device equipped with proprietary technology was successfully loaded at Shanghai Waigaoqiao Port and shipped to Malaysia, addressing longstanding pain points in traditional hydrogen storage and transportation and filling a gap in international maritime transport technology. On the other hand, the semi-solid injection-molded magnesium alloy seat frame assembly of FAW Hongqi was successfully installed, marking a key upgrade in vehicle lightweighting, with significant weight reduction achieved for each assembly. Spanning the two core fields of hydrogen storage and transportation and vehicle lightweighting, these achievements accelerated the scaled-up application of the magnesium alloy industry.

On March 5, the People’s Government of the Inner Mongolia Autonomous Region officially issued the “Outline of the 15th Five-Year Plan for National Economic and Social Development of the Inner Mongolia Autonomous Region,” clearly listing hydrogen energy storage, rare earth new materials, and green hydrogen-ammonia-methanol as strategic priorities, accelerating the development of the entire industry chain for green hydrogen, and building a nationally important high ground for the energy storage industry, thereby charting a clear path for energy transition and industrial upgrading. I. Hydrogen Energy Storage: Building the Entire Industry Chain and Sprinting Toward an Energy Storage Scale of 60 million kW The Outline proposed to expand and strengthen the hydrogen energy storage industry , with the core goals and measures as follows: Full-chain deployment of green hydrogen : Accelerate the development of the entire industry chain for green hydrogen—“ production, storage, transportation, and use ”—and build green hydrogen, green ammonia, and green methanol industry clusters; advance cross-provincial and cross-regional long-distance hydrogen-ammonia-methanol pipeline projects, and moderately make forward-looking arrangements for green hydrogen storage and transportation infrastructure. Leap in energy storage scale : Advance pumped-storage hydropower in stages, implement a special action for the large-scale development of new-type energy storage, and build a diversified energy storage system; by the end of the “15th Five-Year Plan” period, new-type ESS installations are expected to reach 60 million kW , and demand-side response capability is expected to exceed 5 of the region’s maximum load. Coordinated pipeline network upgrade : Optimize the oil and gas pipeline network; by the end of the “15th Five-Year Plan” period, natural gas pipeline mileage is expected to exceed 8,000 km , while the green hydrogen storage and transportation network will be improved in parallel. II. Rare Earth Industry: Extending, Supplementing, and Strengthening the Industry Chain, with a Focus on High-End Materials Such as Hydrogen Storage The Outline made clear to accelerate extending, supplementing, and strengthening the industry chain for the light rare earth industry , with a focus on developing: high-performance magnetic materials, high-performance polishing materials, hydrogen storage materials , catalytic materials and additives, rare earth steel, and other high-end rare earth new materials and end-use applications industries. Leveraging its advantages in rare earth resources, it will provide critical material support for industries such as hydrogen energy and new energy, and build a nationally leading base for rare earth new materials. III. Scientific and Technological Innovation: Focusing on Advantageous Fields Such as Green Hydrogen-Ammonia-Methanol The Outline proposed to implement a number of major science and technology tasks , focusing on fields including: new energy, rare earth new materials, carbon-based new materials, semiconductor new materials, green hydrogen-ammonia-methanol , biopharmaceuticals, biological breeding, and grassland and dairy industries, among others. It will deliver more landmark original achievements, providing technological support for the green hydrogen, green ammonia, and green methanol industries. IV. Significance of the Plan: Anchoring National Strategy and Leading the Energy Transition This plan closely integrates hydrogen energy, energy storage, rare earths, and green hydrogen-ammonia-methanol. It is not only a key measure to implement the country’s “dual carbon” goals, but also a core lever for Inner Mongolia to leverage its two major strengths in wind and solar power resources and rare earth resources and build a nationally important base for energy and strategic resources. As a number of wind and solar power-based hydrogen production projects, such as the Huadian Darhan Muminggan Banner project, advance, Inner Mongolia is accelerating its transformation from a major energy region into a leading green hydrogen region and an energy storage hub .