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  ADC12 prices remain firm with cost support, but weak high-price transactions will limit upside room. [SMM Analysis]

  [SMM Analysis]ADC12 prices remain firm with cost support, but weak high-price transactions will limit upside room.

• GAC, Huawei Digital Power forge strategic alliance to boost EV performance and efficiency

  On Nov. 7, GAC Group and Huawei Digital Power signed a strategic cooperation agreement in Guangzhou, marking a new chapter in the two companies' collaboration on electric vehicle innovation.

• Black Chain Trading Logic Returns to Fundamentals, Short-term May Continue to Fluctuate Rangebound [SMM Steel Industry Chain Weekly Report]

  This week, ferrous metals first weakened and then stabilized, with coking coal and coke providing support. In the first half of the week, rumors of production restrictions and maintenance at some steel mills in the north persisted, coupled with the earlier overdrawn expectations, causing market logic to return to reality. Active bearish funds led to a pullback in futures. In the latter half of the week, fundamentals showed that the inventory of the five major steel products continued to decline, while coking coal and coke stopped falling and rebounded, providing support for steel prices and stabilizing ferrous metals prices. In the spot market, some arbitrage funds are still seeking entry opportunities. However, as November approaches, signs of the terminal off-season are beginning to emerge.

• MMi Daily Iron Ore Report (November 7)

  Iron ore futures continued to weaken today. The most-traded contract I2601 closed at 760.5 yuan, down 1.87% from the previous trading day. Main port spot cargoes fell by 5-10 yuan/mt compared to the previous trading day, with PB fines transaction prices in Shandong region at 770-773 yuan,

• [SMM Manganese Ore Weekly Review] Manganese Ore Forward Costs Provide Strong Support, Spot Market Holds Up Well

  November 7 news: North China ports: South African high-iron manganese ore at 29.4-30.1 yuan/mtu, up 0.34% WoW from last Friday; South African semi-carbonate at 34.1-34.6 yuan/mtu, up 0.29% WoW from last Tuesday; Gabonese ore at 39.6-40.4 yuan/mtu, flat WoW from last Friday; Australian lumps at 39.9-40.4 yuan/mtu, down 0.25% WoW from last Tuesday; South African medium-iron manganese ore at 35.2-35.9 yuan/mtu, up 0.28% WoW from last Friday. South China ports: South African high-iron manganese ore at 30.7-31.2 yuan/mtu, up 0.32% WoW from last Friday; South African semi-carbonate at 36.9-37.4 yuan/mtu, up 0.27% WoW from last Friday; Gabonese ore at 40.5-40.1 yuan/mtu, flat WoW from last Friday; Australian lumps at 40.1-40.8 yuan/mtu, down 0.25% WoW from last Friday; South African medium-iron manganese ore at 36.7-37.4 yuan/mtu, up 0.54% WoW from last Friday. Overall, the manganese ore market shows no significant changes in supply and demand, maintaining a firm and stable trend.