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  [SMM Analysis] Tight Supply-Demand Pattern for Spot Nickel Sulphate, Nickel Salt Prices Continued to Rise This Week

  Nickel Sulphate Spot Cargo Supply-Demand Pattern Remains Tight, Nickel Salt Prices Continued to Rise This Week

• 314Ah Battery Cells Are Highly Sought After, China Sets Ambitious Goal to Double New-Type Energy Storage Installations by 2027

  An unexpected wave of energy storage orders is sweeping the industry. The sudden shift in the supply-demand relationship has led to soaring orders across the industry chain, with production lines operating at full capacity still unable to meet demand, marking the beginning of a market-driven industry test.

• [SMM Analysis] Malaysia's Scrap Metal Trade Enters an Age of Austerity

  Malaysia's scrap metal industry has undergone a radical transformation, shifting from a period of unregulated "savage growth" to a new era of strict state control. This policy overhaul is driven by a desire to secure raw materials for domestic steel mills and enforce higher environmental and fiscal standards.

• Bullish Sentiment Prevailed, Magnesium Prices Remained Firm Today [SMM Magnesium Morning Meeting Minutes]

  [SMM Magnesium Morning Meeting Summary: Strong Sentiment for Price Increases, Magnesium Prices Held Firm Today] Yesterday, mainstream quotations from magnesium plants stood at 16,800 yuan/mt. Influenced by rising raw material prices such as ferrosilicon, coal, and dolomite, magnesium prices bottomed out.

• 【SMM Analysis】Southeast Asia's Steel Upheaval: China-Funded Capacity Race, Green Transition to Determine Future Winners

  The Southeast Asian steel industry stands at a critical historical juncture. On one hand, the region is experiencing an unprecedented wave of capacity expansion, with Chinese capital-driven investments planning to add over 100 million mt of new capacity, and a duopoly between Vietnam and Indonesia has already taken shape. On the other hand, the EU carbon border tax and global decarbonization requirements are compelling industry to undergo a green transformation, posing severe challenges to traditional development models. Key trends indicate that a capacity race and green transformation are advancing in tandem; regional supply chains are being restructured, with self-sufficiency rates increasing, yet high-end products still rely on imports; national infrastructure projects provide solid support for demand, but the risk of overcapacity cannot be ignored. The key to future competition lies in balancing scale expansion with quality improvement, traditional capacity with green transformation, and short-term gains with long-term sustainability. Enterprises that can achieve breakthroughs in low-carbon technologies, product structures, and market positioning will take the lead in the next round of industrial reshuffling. The major transformation in Southeast Asia's steel industry is not only reshaping the regional industrial landscape but also profoundly impact global steel trade and supply chains.