Conference Name: AIAC 2026 SMM (15th) Aluminum Industry Annual Conference Conference Date: October 12-13, 2026 Conference Venue: Guiyang, China Conference Theme: Long-term Contracts · Trade · Market Trends Organizer: SMM Information & Technology Co., Ltd. In 2026, the global aluminum industry is at a critical juncture of profound transformation and strategic transition. As the world's largest aluminum producer (accounting for approximately 60% of global aluminum production), China's industrial dynamics profoundly influence the global market landscape. The industry currently faces multiple challenges and opportunities, including global resource allocation and import dependence, the supply-demand pattern of alumina and aluminum, long-term contract trading models and risk management, and responses to geopolitical tensions and trade barriers. Against this backdrop, China's aluminum industry urgently needs to achieve breakthroughs through technological innovation, enhance efficiency and set benchmarks through management upgrades, and ultimately realize a strategic leap from "scale advantage" to "quality advantage," advancing steadily on the path of high-quality development. Thisis scheduled to be held in Guiyang on October 12-13, 2026. Organized by SMM Information & Technology Co., Ltd., the conference will focus on global bauxite allocation strategies, innovation in long-term contract pricing models, optimization of price forecasting models, application of risk hedging tools, energy transition pathways, and technological innovation directions, aiming to help enterprises seize opportunities for high-quality development of the aluminum industry under the "dual carbon" goals and achieve sustained industrial growth. Conference Value | Conference Value This conference focuses on upstream resource security, long-term contract trade, market insights and price forecasting, risk hedging, energy transition, and technological innovation sharing, with particular emphasis on global bauxite allocation, the supply-demand balance of alumina and aluminum, and long-term contract pricing models. It aims to help enterprises grasp market trends, optimize resource allocation, address trade challenges, and promote the healthy development of the aluminum industry. Attendees | Attendees This conference will invite representatives from premium enterprises across the aluminum industry chain (bauxite, alumina, aluminum, aluminum processing), traders, end-users, government leaders, trade associations, authoritative experts, industry research institutions, financial institutions, and other industry representatives. The conference is expected to attract over 500 attendees. Past Conference Guests Company Name Company Representative Name Name Job Title Job Title Main Products Main Products Shandong Aluminium Industry Association SHANDONG ALUMINIUM INDUSTRY ASSOCIATION Wen Xianjun Former Vice President of China Nonferrous Metals Industry Association (CNIA), Honorary President of Shandong Aluminium Industry Association China Aluminum International Trading Group Co., Ltd. China Aluminum International Trading Group Co., Ltd. Li Guangfei Deputy Secretary of the Party Committee, General Manager Aluminum, alumina, bauxite SPIC Aluminum International Trading Co., Ltd. State Power Investment Corporation Aluminum International Trading Co., Ltd. Liu Renjian General Manager Bauxite, alumina, aluminum and related products Gansu Dongxing Aluminium Co., Ltd. Gansu Dongxing Aluminium Co., Ltd. Li Jipeng General Manager Aluminum, aluminum billet, aluminum coil, aluminum rod Shandong Hongtuo Industrial Co., Ltd. Shandong Hongtuo Industrial Co., Ltd Jiang Zhen Sales General Manager Alumina, aluminum Henan Zhongfu Industrial Co., Ltd. Henan Zhongfu Industrial Co., Ltd. Qian Yu General Manager Aluminum, aluminum plate/sheet, strip and foil Henan Shenhuo International Trading Co., Ltd. HENAN SHENHUO INTERNATIONAL TRADING CO., LTD. Zhang Linhai General Manager Aluminum Yidian Holdings Group International Trade Co., Ltd. Yidian Holdings Group International Trade Co., Ltd Meng Tao General Manager Aluminum Yidian Holdings Group International Trade Co., Ltd. Yidian Holdings Group International Trade Co., Ltd Fan Weiguo Deputy General Manager Aluminum Ningbo Kaiton International Trade Co., Ltd. Ningbo Kaiton International Trade Co. Ltd. Wu Chuanghui General Manager Aluminum, copper cathode Shanxi Zhaofeng Tiancheng Aluminum Co., Ltd. Shanxi Zhaofeng Tiancheng Aluminum Co., Ltd. Wu Xiaojun Chairman Aluminum plate/sheet and strip Jiangxi Bestoo Energy Co., Ltd. Jiangxi Bestoo Energy Co., ltd. Zhao Yonghua Vice President Aluminum Shaanxi Nonferrous Yulin New Materials Group Co., Ltd. Shaanxi Nonferrous Yulin New Materials Group Co., Ltd. Gao Wenjie Deputy General Manager Aluminum Shandong Nanshan Aluminum Co.,Ltd. Shandong Nanshan Aluminum Co.,Ltd. Li Wenchao General Manager Shanghai Russia Xibo Economic and Trade Co., Ltd. Shanghai Russia Xibo Economic and TradeCo..Ltd Deng Gang President of China Marketing Primary Aluminum Luoyang Xiangjiang Wanji Aluminium Co., Ltd. LUOYANG XIANGJIANG WANJI ALUMINIUM Wang Wenjie General Manager Alumina Shandong Aluminium Industry Association Shandong Aluminium Industry Association He Faping President and Secretary General Shandong Aluminium Industry Association Shandong Aluminium Industry Association Li Zhenlei Director of Industry Information Department Henan Provincial Nonferrous Metals Association Henan Provincel Nonferrous Metals Association Li Ruxi Vice President Shanghai Aluminum Trade Association SHANGHAI ALUMINUM TRADE ASSOCIATION Liu Lilin Secretary General Association Shanghai Aluminum Trade Association SHANGHAI ALUMINUM TRADE ASSOCIATION Shen Yue Deputy Secretary General Association Huolinguole City Aluminum Industry Association Huolinguole City Aluminum Industry Association Gao Jinzhi President, Deputy Director of Huolinguole Municipal People's Congress Standing Committee Huolinguole Regional Economic Cooperation Financial Services Center Huolinguole Regional EconomicCooperation Financial Services Center Wang Kaifei Director Wenshan Prefecture Aluminum Industry Association Wenshan Prefecture Aluminum IndustryAssociation TBD Association * Only a partial list of attending guests is shown. To obtain the complete directory of the 2025 Aluminum Industry Annual Conference, please contact our customer service. Manager Chu (Miya) 13642049827 chuzhaolan@smm.cn Note: After submitting your information, we will contact you regarding your actual registration progress within 1-3 business days! Conference Content | Agenda This year's conference is planned to consist of two full-day main sessions | a processing and trade matchmaking session | a cross-border arbitrage training session | a public competitive bidding procurement session for bulk raw materials by a multinational aluminum giant (the specific company name is not disclosed for now) | an aluminum industry annual gala dinner | and a field trip to local leading aluminum enterprises. The first-day main session focused on upstream changes in the aluminum industry, energy reshaping and zero-carbon technologies, providing insights into the new course of China's aluminum industry under global supply chain restructuring. The second-day core highlights revolved around strategic opportunities arising from the global aluminum supply gap, with a focus on NEV lightweighting, battery foil and other growth segments, while driving aluminum semis toward high-end breakthroughs through digital transformation. Pending. Content Summary | Abstract I. Geopolitical Black Swans and Energy Crisis: Contraction of Aluminum Supply Outside China and Restructuring of Global Trade Flows II. Shifts in the Global Bauxite Supply Chain: Guinea's Policies, Geopolitical Risks and China's Resource Security III. Inert Anode Technology: The "Zero-Carbon Revolution" in the Aluminum Industry and Industrialisation Timetable IV. Middle East Black Swans and China's Opportunities: Aluminum Semis Export Strategy Amid the Global Aluminum Supply Gap V. Reshaping Energy Costs in the Aluminum Industry: From "Securing Supply" to "Reducing Costs" VI. As Electricity Market Reform Deepens, How Much Room Remains for Low-Cost Power in the Aluminum Industry? VII. Lightweighting Applications of Aluminum Alloys Across All NEV Scenarios VIII. Growth Segments for Aluminum Plate/Sheet, Strip and Foil: Demand Explosion in Battery Foil, Energy Storage and Packaging Materials IX. AI Large Models Empowering Aluminum: From Intelligent Electrolysis Cells to Full-Process Digital Factories X. Implementation of Guinea's New Policies: How to Balance Long-Term Contract Supply Security and Localisation Considerations ······ Past Industry Leaders: Wen Xianjun, Former Vice President of China Nonferrous Metals Industry Association (CNIA) and Honorary President of Shandong Aluminium Industry Association; Mamadou Cherif LY, General Manager of AISC Group; Wito Krisnahad, President of PT Kalimantan Aluminum Company; Ousmane Kaba, Director of Guinea's National Ministry of Mines and Geology; Bachir Diallo, Deputy Director of Guinea's Mining Infrastructure Development Bureau; Dong Chunming, General Manager of Sunlight Metal/ASI Consultant; Wang Lijiao, Deputy General Manager of Henan Mingtai Aluminum Co., Ltd.; Liu Xiaolei, Big Data Director of SMM Information & Technology Co., Ltd.··· *Only a partial list of guest speakers is shown. This year's conference is expected to feature 37+ presentation reports. If you have any questions about the specific arrangements and core content of the conference, please contact us. Contact: Chu Zhaolan Tel: 13642049827 (same number on WeChat) Email: chuzhaolan@smm.cn Conference Official Website Note: After submitting your information, we will contact you regarding your actual registration progress within 1-3 business days!

Global Aluminum Market Review – April: Divergent Domestic & Overseas Trends and Marked Spot Structure Disparities The global aluminum market in April featured a core pattern of strength overseas and weakness domestically with diverging trends. The main Shanghai aluminum contract retreated from highs amid fluctuations, while LME aluminum maintained firm momentum supported by low inventories and geopolitical factors, with both markets seeing mild corrections toward month-end. Market drivers this month centered on macro policies, geopolitical conflicts, supply-demand fundamentals and inventory structures, with movements of key indicators further highlighting supply-demand imbalances between domestic and overseas aluminum markets. I. April Aluminum Price Review: Linked Movements with Distinct Strength Differentials Shanghai aluminum and LME aluminum shared similar price rhythms in April, both fluctuating higher initially before retreating. However, notable gaps emerged in upward momentum and correction ranges, with overseas aluminum prices significantly outperforming domestic counterparts. The average Shanghai-LME aluminum ratio dropped from 7.36 in March to 7.03 in April, reflecting stronger overseas aluminum pricing relative to Shanghai aluminum. The main Shanghai aluminum contract trended upward early in the month before softening overall, declining from elevated levels through range-bound trading. It opened lower at RMB 24,715 per ton at the start of the month and consolidated. Driven by escalating Middle East geopolitical tensions and rising LME aluminum prices, it surged to a monthly peak of RMB 25,675 per ton in mid-April. In late April, amid continuous domestic inventory accumulation, weaker-than-expected downstream demand, and risk-averse capital outflows ahead of the May Day holiday, prices corrected steadily. Closing at RMB 24,430 per ton on April 30, the contract recorded a monthly trading range of nearly RMB 1,360 per ton. LME March aluminum traded firmly with mild late-month declines. Opening at USD 3,459 per ton, it climbed to a monthly high of USD 3,672 per ton in mid-April, underpinned by overseas supply disruptions from geopolitical frictions and sustained inventory destocking. Prices edged down later due to fluctuating US-Iran negotiations, hawkish macro sentiment and profit-taking at high levels, settling at USD 3,476 per ton at month-end with a slight monthly loss. Overall, LME aluminum vastly outperformed domestic Shanghai aluminum. In terms of price drivers, geopolitics served as a shared upward catalyst for global aluminum prices, with production cuts and supply disruptions in the Middle East continuously boosting market risk aversion. Price divergence stemmed from dual disparities in macro policies and fundamentals: elevated domestic inventories and sluggish demand consistently capped aluminum price rebounds, while tight overseas inventories and strained spot supplies provided robust support for LME aluminum. II. Key Inventory Indicators: Divergent Inventory Movements and Contrasting Supply-Demand Landscapes As a core gauge of aluminum market supply and demand, domestic and overseas inventory trends diverged sharply in April, directly shaping the relative strength of regional aluminum prices. Domestic aluminum inventories kept rising and stood at a multi-year seasonal high. Social inventories maintained an upward trend throughout April, hitting 1.465 million tons in mid-month, the highest seasonal level in five years. A clear imbalance emerged between rigid supply release and lackluster downstream demand during the traditional peak "Silver April" period, leading to persistent spot market loosening. SHFE warehouse stocks expanded from 420,000 tons at the start of the month to 450,000 tons at month-end. Elevated warehouse stock levels further confirmed ample domestic spot supply, weighing continuously on aluminum prices. Overseas LME aluminum inventories declined steadily to a 20-year low. Total LME aluminum inventories fell from 410,000 tons to 370,000 tons in April, extending months of destocking to historic lows. Noticeable structural divergence persisted in inventory composition: Russian aluminum accounted for approximately 92% of total LME stocks in March, resulting in low market-circulating inventories and increasingly tight physical spot supply, which acted as the fundamental pillar for strong LME aluminum prices. In summary, April’s global aluminum market was governed by contrasting core dynamics: low overseas inventories, geopolitical disruptions and hawkish Federal Reserve policies on the overseas front, versus high domestic inventories, weak real demand and stable growth expectations domestically. This drove pronounced market divergence. Affected by intertwined internal and external factors, the main Shanghai aluminum contract corrected downwards from highs, while LME aluminum remained in a firm trading range, backed by historically low inventories, a tight spot balance and geopolitical risk premiums.

[Conflict Impact] The outbreak of the Middle East conflict on February 28, 2026, significantly disrupted global aluminum market dynamics, driving increased volatility in aluminum prices. Aluminum prices on the London Metal Exchange (LME) surged alongside escalating tensions, rising from an Official Price of $3,156.5/mt on February 27 to a peak of $3,519.5/mt in early March. Prices later retreated to the $3,200–3,300/mt range in late March, as market sentiment gradually stabilized. On March 28, in response to attacks on Iranian industrial zones, Iran reportedly targeted major regional aluminum producers including Aluminum Bahrain and Emirates Global Aluminum, while Qatar Aluminum declared force majeure. These developments constrained primary aluminum output in the Middle East, tightening market liquidity and increasing supply uncertainty. As a result of supply disruptions, global aluminum availability declined, particularly impacting regions outside China in Asia. Entering April, LME aluminum prices rebounded to $3,400–3,500/mt, breaking above $3,600/mt in mid-April and fluctuating within the $3,500–3,600/mt range. [Shipping Disruptions] The conflict initially disrupted transportation systems across the Middle East, with the Strait of Hormuz being most severely affected. Key aluminum exporters—including the UAE, Saudi Arabia, Qatar, Iran, and Kuwait—faced significant logistical constraints. Exports that traditionally passed through the Strait were heavily restricted, forcing market participants to adopt alternative logistics routes, including land transport to Red Sea ports. These adjustments significantly increased freight costs and extended delivery lead times. In April, the escalation of conflict into the Red Sea region further limited alternative shipping routes. Most Europe–Asia vessels opted to reroute via the Cape of Good Hope, driving both freight costs and transit times higher. According to SMM market research, cargo delivery delays reached 3–5 weeks, while container freight costs surged by as much as 60–70%. [Primary Aluminum and Processing] Reduced Middle Eastern exports tightened primary aluminum supply across major Asian consuming countries, particularly Japan, Thailand, India, and South Korea. In 2024, the Middle East exported 6.408 million mt of primary aluminum and key aluminum products, with these four countries accounting for approximately 20.8% (1.331 million mt). In 2025, exports declined to 6.071 million mt, with imports from these countries totaling approximately 1.215 million mt (~20%). Demand for primary aluminum alloys and billets (notably 6xxx series) remained strong. SMM data shows that following the outbreak of conflict, processing fees for 6063 billets in Southeast Asia rose from $200–250/mt to $250–300/mt, peaking at $300–310/mt. Market feedback indicates a recovery in demand for 6xxx billets, with both domestic and export transactions in Malaysia and Thailand increasing significantly in April. Downstream purchasing sentiment improved, offsetting weaker market conditions observed in January–February. Demand for primary foundry alloys also strengthened. Elevated aluminum prices, reduced Middle Eastern supply, and growth in downstream sectors such as automotive (particularly in Thailand) drove increased enquiries for alloys including A356, AlSi10MnMg, and AlSi10FeMg. Notably, interest in low-carbon aluminum has also increased, reflecting rising alignment with international decarbonization policies such as the EU’s Carbon Border Adjustment Mechanism (CBAM). Against a backdrop of tightening primary supply, importing semi-finished aluminum products from alternative regions may become an increasingly viable option. [Secondary Aluminum] Beyond primary production, the Middle East has also been a significant supplier of aluminum scrap and secondary alloys, serving as an emerging recycling and processing hub prior to the conflict. India and South Korea are key importers of Middle Eastern scrap. In 2024, the region exported 628,000 mt of aluminum scrap, with India and South Korea accounting for 62.6% and 13.5%, respectively. In 2025, total exports rose to 766,000 mt, with imports reaching 489,000 mt (India) and 101,000 mt (South Korea). Amid the conflict, buyers from Japan and South Korea diversified sourcing toward Southeast Asia, particularly Malaysia and Thailand, boosting demand for ADC12 secondary aluminum alloy. This shift supported both Southeast Asian FOB prices and Japan CIF prices. In April, continued conflict escalation drove additional demand from India, with SMM data indicating several thousand tonnes of incremental enquiries and transactions in Southeast Asia. SMM began tracking ADC12 FOB prices in Thailand and Malaysia in March 2026. Prices rose from $3,000/mt on March 2 to $3,365/mt by April 27, marking an increase of $365/mt. Market activity remained robust, with strong exports to Japan, South Korea, and India, alongside steady shipments to China, Singapore, and other regions. Some producers have reportedly secured orders through late June to July. On the raw materials side, rising LME aluminum prices pushed both imported and domestic scrap prices higher. In Thailand, aluminum cable scrap reached THB 115,000–120,000/mt ($3,560–3,710/mt) in April, significantly increasing blending costs for billet producers. As scrap prices climbed, some billet producers reduced scrap usage and increased reliance on primary aluminum. Meanwhile, higher prices for Tense scrap led to reduced trading volumes, prompting ADC12 producers to substitute alternative scrap types, including higher-copper materials, to optimize cost structures. Reduced scrap supply from the Middle East also intensified competition, particularly as India increased procurement from alternative markets, tightening supply and driving prices higher in Southeast Asia. [Outlook] The Middle East conflict has fundamentally reshaped aluminum trade flows across Asia and globally, increasing pressure on Southeast Asia’s aluminum processing sector. If the conflict persists, global aluminum trade is likely to become more regionalized, with tighter raw material availability in Asia and stronger internal circulation in Western markets. China may emerge as a key balancing supplier, as widening domestic-international price spreads could open export arbitrage opportunities for semi-finished aluminum products and secondary alloys. However, Southeast Asia may face mounting pressure from raw material shortages and intensified competition, particularly from India. At the same time, tightening low-carbon policies and Western supply chain reshoring may further challenge regional competitiveness. Conversely, a de-escalation of the conflict and normalization of logistics routes could ease supply constraints, potentially placing downward pressure on aluminum product and secondary alloy prices, gradually returning the market toward pre-conflict conditions. [Notes] The “18 Middle Eastern countries” referenced in this report include: Gulf Cooperation Council (GCC): Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, Bahrain Levant region: Israel, Jordan, Lebanon, Syria, Palestine Other key regional countries: Iran, Iraq, Turkey, Egypt, Cyprus, Libya, Yemen Primary aluminium and related key aluminium products include the following HS codes: 7601 – Unwrought aluminium 7604 – Aluminium bars, rods and profiles 7605 – Aluminium wire 7606 – Aluminium plates, sheets and strip, thickness > 0.2 mm 7607 – Aluminium foil 7608 – Aluminium tubes and pipes

Strait of Hormuz disruptions and Iran tensions are driving up aluminum prices and premiums. Aluminium Bahrain and Qatalum have cut output, while feedstock is tight. Rerouting via Port of Sohar or Saudi ports raises costs and delays. Buyers are turning to China, India, Russia, Canada, and scrap to offset risk. Prolonged disruption could reduce Middle East market share and reprice it as higher-risk supply.

[SMM Aluminum Price Weekly Review: Three Major Factors Drive SHFE Aluminum to Move Unusually Strong, Short-Term Aluminum Prices Maintain High Levels and Fluctuate Considerably]

[SMM Aluminum Morning Meeting Minutes: SHFE Aluminum Experiences Short-Term Unusual Strength, Beware of Sentiment Cooling and Correction Risks] Overall, the current SHFE aluminum price has achieved a short-term sharp rise driven by events and funds, with market trading sentiment in a phase of excitement. Subsequently, it is necessary to be cautious about the risks of sentiment cooling and market correction triggered by multiple factors.