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  BC Copper 2602 Fluctuated Considerably and Closed Lower, Profit-Taking Coupled with Demand Concerns Weighed on Prices [SMM BC Copper Review]

• [SMM Chrome Daily Review] Ferrochrome Market Remains Strong and Stable, Chrome Ore Market Holds Prices Firm with an Upward Outlook

  [SMM Chrome Daily Review: Ferrochrome Market Remained Strong and Stable, Chrome Ore Market Held Prices Firm with Bullish Outlook] January 19, 2026: The ex-factory price of high-carbon ferrochrome in Inner Mongolia today was 8,350-8,500 yuan/mt (50% metal content), flat MoM from the previous trading day.

• MMi Daily Iron Ore Report (January 19)

  Today, the iron ore futures market experienced a significant decline, with the main contract I2605 closing at 794 yuan per ton, down 2.58% from the previous trading day. Spot prices also fell by 10–15 yuan per ton compared to the previous trading day. Market activity was subdued

• [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 Analysis】Limited Impact of Baogang Plant Incident on Rare Earth Supply, Market Fundamentals Remain Unaffected​

  On January 18, 2026, at 15:03, a significant explosion occurred at the rare earth steel plate plant of Baogang Group. As a key enterprise in China’s rare earth industry, the incident sparked global concerns about rare earth supply and raised expectations of a new round of price increases. However, a comprehensive analysis of the accident’s nature, industry chain structure, and market mechanisms indicates that the impact on rare earth supply is limited and unlikely to substantially affect price trends.