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  ADC12 Price Hit a New Yearly High in November: How Will the Market Perform in December? [SMM Analysis]

  [SMM Analysis]ADC12 Price Hit a New Yearly High in November: How Will the Market Perform in December?

• [SMM Hot-Rolled Steel Arrivals] Mainstream City Arrivals Increased WoW

  SMM Steel, December 2 – According to SMM statistics, estimated total resource shipments in mainstream markets this week were 201,900 mt, up 3.64% WoW from last week’s shipping level. By market:

• Copper Scrap Supply Increase + Demand Adjustment Keep Blister Copper RCs Rising [SMM Analysis]

  SMM Analysis: In November 2025, SMM's quoted blister copper RCs in south China stood at 1,100-1,400 yuan/mt, with an average price of 1,250 yuan/mt, up 250 yuan/mt MoM; quoted blister copper RCs in north China were 800-1,000 yuan/mt, averaging 900 yuan/mt, up 150 yuan/mt MoM; import blister copper RCs CIF China were quoted at $90-100/mt, averaging $95/mt, up $5/mt MoM...

• [SMM Announcement] Adjustments to Lithium-Ion Battery Export Data by Destination

• Silver Rebounds to a Record High: What Factors Are Reshaping the Bull Market?

  Recently, the silver market has performed remarkably, with international silver prices repeatedly hitting new highs. As of December 1, the COMEX silver futures price reached a peak of $58.61 per ounce, while the SHFE silver main contract also set a historic high of 13,520 yuan/kg. Behind this round of silver bull market, multiple factors are reshaping the market landscape.