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  【SMM Analysis】Ternary Cathode Material Production Increased 20% MoM in March

  In March 2025, the production of ternary cathode material increased by 19.99% MoM but decreased by 7.59% YoY.

• 【SMM Analysis】Ternary cathode precursor production increased 19.75% MoM in March.

  In March 2025, China's ternary cathode precursor production increased by 19.75% MoM, but decreased by 10.57% YoY.

• 【SMM Announcement】Announcement on the Addition of SMM Alumina Regional Index Prices

• Copper Cathode Production in March Far Exceeded Expectations, and April Output Only Slightly Declined [SMM Analysis]

• In March 2025, the national refined nickel production increased by 22.32% MoM and 39.12% YoY.

  【SMM Analysis: In March 2025, China's refined nickel production increased by 22.32% MoM and 39.12% YoY】In March 2025, China's refined nickel production increased by 22.32% MoM and 39.12% YoY. The operating rate in the industry was 65%, up 11% MoM. With the increase in production days in March, the operating rate of enterprises improved, leading to supply growth.