- Futures
- Base Metals
- New Energy
- Ferrous Metals
- Rare Earth
- Scrap Metals
- Minor Metals
China & America：Mutual Dependence and Rational Cooperation in Rare Earth【SMM Analysis】
On Tuesday, US President Trump mentioned during a press conference with South Korean President Lee Jae-myung that if China were to halt the export of rare earth magnets again, "countermeasures such as imposing 200% tariffs would be taken." However, he acknowledged that such high tariffs would signify a breakdown in bilateral trade. Subsequently, China's Foreign Ministry responded, stating that China consistently handles and advances China-US relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation, while firmly safeguarding its own sovereignty, security, and development interests.
Tight Supply and Rising Costs Keep Malaysia Rebar Prices Firm
Malaysia’s rebar market has recently remained firm, with prices showing a steady-to-strong trend. This round of price support is primarily driven by a significant rise in production costs combined with a tightening supply structure, jointly pushing up overall market levels.
[SMM Analysis] From August 22 to 26, 2025, the U.S. Internal Revenue Service (IRS) issued clarifications via NPR, CNBC and other outlets announcing new adjustments to the soon-expiring electric-vehicle (EV) tax credit—worth up to $7,500. Consumers who enter into a legally binding purchase contract with a dealer and make any form of down payment or trade-in by September 30, 2025 (inclusive) will lock in the federal EV tax credit; the actual delivery date after that will no longer affect eligibility.
[SMM Analysis] From August 22 to 26, 2025, the US Internal Revenue Service (IRS) issued clarification notices through platforms such as NPR and CNBC, announcing new adjustments to the soon-to-expire EV tax credit policy (up to $7,500). As long as consumers sign a legally binding car purchase contract with a dealer and make any form of down payment or trade-in by September 30, 2025 (inclusive), they can lock in the federal EV tax credit. The vehicle delivery date thereafter will no longer affect tax credit eligibility.
[SMM Aluminum Downstream Analysis: August Aluminum Processing Industry PMI Reached 53.3% – Structural Recovery Under September-October Peak Season Expectations, Full Recovery of Aluminum Processing Still Requires Observation] The comprehensive PMI of the aluminum processing industry in August recorded 53.3%, up 9.2 percentage points MoM and 9.7 percentage points YoY.
