MMi Daily Iron Ore Report (January 19)

[SMM Analysis] What Are the Specific Benefits for Lithium Battery Recycling Enterprises from the Issuance of the "Interim Measures for the Recycling and Comprehensive Utilization of Scrap NEV Power Batteries"?

SMM reported on January 19 that on January 16, 2026, the Ministry of Industry and Information Technology, together with the National Development and Reform Commission (NDRC), the Ministry of Ecology and Environment, the Ministry of Transport, the Ministry of Commerce, and the State Administration for Market Regulation, jointly issued the "Interim Measures for the Recycling and Comprehensive Utilization of Waste Power Batteries from New Energy Vehicles (NEVs)." This new management measure, being a joint departmental regulation, carries mandatory legal force, fundamentally changing the previous situation where guidance documents lacked sufficient binding power.

[SMM Stainless Steel Daily Review] Year-End Funding Pressure Leads to Discounts on Spot Cargo, Stainless Steel Futures Provide Support for Short-Term Stability

[SMM Stainless Steel Daily Review] Year-End Funding Pressure Leads to Spot Price Concessions While Futures Provide Support SMM January 19 – SS futures showed a pattern of holding up well. Although the night session last Friday continued a weaker trend, SS rebounded and rose after Monday's opening. Despite lacking further upward momentum, overall it fluctuated at highs around the 14,300 yuan/mt level. In the spot market, dragged by the lack of upward strength in SS futures, spot trader offers pulled back. In Foshan, due to expectations of an early Chinese New Year break and significant year-end repayment pressure, combined with thick wait-and-see sentiment and weak transactions downstream, more traders offered concessions to sell, with prices slightly lower than those in Wuxi. Although stainless steel demand remains relatively weak and spot offers have pulled back slightly, spot cargoes available for circulation in the market are still tight, and traders focusing mainly on spot have low inventory pressure. Together with cost support and futures holding firm at highs, market sentiment to hold prices firm persists, and short-term prices may remain firm. The most-traded SS futures contract retreated after a rapid rise. At 10:30 a.m., SS2603 was quoted at 14,360 yuan/mt, down 90 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 10-210 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,500 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 14,300 yuan/mt, and in Foshan 14,150 yuan/mt; for cold-rolled 316L/2B coil in Wuxi, 26,300 yuan/mt, and in Foshan 26,300 yuan/mt; for hot-rolled 316L/NO.1 coil, Wuxi reported 255…

Zambian Government Delegation Visits SMM to Explore Strategic Cooperation in Energy & Minerals

Brazil shuts down Sigma Lithium waste piles over safety concerns

Spot silicon metal prices remained stagnant, while the transaction center for PV modules showed relative strength. [SMM Silicon-Based PV Morning Meeting Summary]

[SMM Silicon-Based PV Morning Meeting Minutes: Stalemate in Spot Silicon Metal Prices, Stronger Transaction Center for Modules] Module: Last week, domestic module prices continued to rise, with enterprise guidance prices repeatedly hitting new highs. However, high-priced shipments were limited, and recently distributors began entering the market to sell previously low-priced inventory, slightly curbing the rise in the transaction center. In the centralized sector, there were basically no transactions, with pre-holiday demand extremely low. Currently, distributed Topcon 183, 210R, and 210N high-efficiency modules are quoted at 0.732 Yuan/W, 0.748 Yuan/W, and 0.756 Yuan/W, respectively, while centralized Topcon 182/183 and 210N high-efficiency modules are quoted at 0.689 Yuan/W and 0.709 Yuan/W, respectively.

The Democratic Republic of Congo's state-owned mining company has made an acquisition proposal for a cobalt producer valued by the US.

MMi Daily Iron Ore Report (January 16)

[SMM Stainless Steel Daily Review] SS futures fluctuate at highs, stainless steel spot cargo supply tight and high.

[SMM Stainless Steel Daily Review] SS futures fluctuated at highs, stainless steel spot supply tight, prices high: SMM Jan 16 - SS futures showed a pattern of retreating after a rapid rise. Although the SS futures edged up at the morning opening, they declined in the afternoon following SHFE nickel's drop, closing at 14,275 yuan/mt. In the spot market, stainless steel futures extended gains this week, with market sentiment holding up well. Despite some discount sales early in the week amid a slight correction in futures, spot prices rose in tandem with futures driven by news about Indonesian nickel ore. Although fear of high prices was evident, tight spot supply and strong expectations made low-priced resources scarce. Social inventory fell 1.28% WoW to 843,700 mt. The most-traded SS contract retreated after a rapid rise. At 10:30 am, SS2603 was quoted at 14,450 yuan/mt, up 55 yuan/mt from the previous trading day. In Wuxi, spot premiums/discounts for 304/2B were in the range of 20-220 yuan/mt. In the spot market, the average price of cold-rolled 201/2B coil in Wuxi was 8,550 yuan/mt; the average price of cold-rolled mill-edge 304/2B coil was 14,400 yuan/mt in Wuxi and 14,300 yuan/mt in Foshan; cold-rolled 316L/2B coil was 26,300 yuan/mt in Wuxi and 26,300 yuan/mt in Foshan; hot-rolled 316L/NO.1 coil was quoted at 25,500 yuan/mt in Wuxi; cold-rolled 430/2B coil was 7,750 yuan/mt in both Wuxi and Foshan. Recently, Indonesia’s Ministry of Energy and Mineral Resources…

[SMM Manganese Ore Weekly Review] Overseas Market Forward Offers Rise, Manganese Ore Market Consolidates

News on January 16: Northern ports: South African high-iron ore at 30.5-32.6 yuan/mtu, up 1.61% WoW; South African semi-carbonate ore at 36.5-37 yuan/mtu, up 2.80% WoW; Gabonese ore at 43-43.6 yuan/mtu, flat WoW; 46% Australian lumps at 43.9-44.4 yuan/mtu, flat WoW; South African medium-iron ore at 38.1-38.6 yuan/mtu, flat WoW. Southern ports: South African high-iron ore at 32.2-32.9 yuan/mtu, up 1.56% WoW; South African semi-carbonate ore at 35-35.7 yuan/mtu, down 0.84% WoW; Gabonese ore at 41.5-42 yuan/mtu, flat WoW; 46% Australian lumps at 41.5-42.2 yuan/mtu, flat WoW; South African medium-iron ore at 38.9-39.4 yuan/mtu, flat WoW. Manganese ore market prices continued their firm trend, with spot transaction prices remaining high.