Most-active lithium carbonate futures rose 4.00% intraday to 92,660 yuan/ton.

On Nov. 13 at the Q3 earnings call, SMIC co-CEO Zhao Haijun said full-year sales are expected to exceed $12.0 bln, roughly 30% YoY. With total depreciation rising about 30% YoY, gross margin is forecast around 26%, up ~5 percentage points YoY. He warned global equipment supply remains tight, lead times have lengthened and some deliveries are uncertain; this should not stop this year’s expansion plans but may disturb full-year capex execution.

IRIB reported on the 12th that an Iranian expert meeting urged authorities to review a possible withdrawal from the Nuclear Non‑Proliferation Treaty, reassess national defence strategy and build necessary deterrent capabilities. The statement said repeated threats from hostile powers, particularly against Iran's nuclear capacity, mean Iran can no longer rely on relevant international bodies. It added that if adversaries launch another attack, Iran's armed forces would respond swiftly and effectively, without geographic limits.