The 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum will be held in Tokyo, Japan, from May 11–12, 2026. The summit aims to bring together leading global enterprises, research institutions, industry experts, and policymakers in the fields of renewable metals and battery recycling.

Bank of America analysts stated in a report that copper and aluminum prices may see initial gains in the short term, but both metals are expected to rise again in the third quarter. "Fundamentals are strong, but some indicators suggest prices have deviated from their 'fair' value. However, both metals will experience supply shortages this year, with global demand expected to pick up in the summer, particularly in the US, Europe, and China."

Approaching the 2026 Chinese New Year, SMM conducted communication and research on the pre-holiday break arrangements of domestic die-casting zinc alloy enterprises. This survey covered 20 enterprises, with a total annual capacity of 829,000 mt, involving a zinc consumption scale during the holiday period of approximately 45,548 mt.

At the 2025 SMM (2nd) Global Renewable Metal Industry Chain Forum - Secondary Copper and Aluminum Forum, hosted by SMM Information & Technology Co., Ltd., Zhang Xiaoyao, the project leader of SMM Recycling, shared insights on the topic of "Driving Business Opportunities and Reducing Operating Costs: SMM Serving the Global Secondary Copper and Aluminum Metals Market."

[Futures Market] During the night session, SHFE copper opened higher and continued to rise. It pulled back in the morning session but rebounded in the afternoon. The most-traded July contract closed at 78,570, up 0.34%. Total trading volume decreased, and total open interest fell by over 10,000 lots. SHFE aluminum fluctuated during the night session to the morning session and strengthened in the afternoon. The most-traded July contract closed at 20,460, up 0.34%. Total trading volume significantly decreased, and total open interest slightly declined. Alumina rebounded slightly, with the most-traded September contract closing at 2,860, up 0.46%. [Analysis] Yesterday was the last trading day for the June contract. Currently, the most-traded July contract will accelerate its position transfer to the forward months. Today's futures market shows that the forward contracts performed stronger than the nearby months, indicating the advantage of transferring long positions in the forward months under a backwardation structure. For copper and aluminum, which are experiencing continuous inventory drawdowns, if the open interest continues to expand in the later period, there is still room for futures prices to rise. [Valuation] Copper is moderately overvalued, while aluminum is fairly valued. [Risks] External risks (Source: China Fortune Futures)

[Futures Market] On Friday night session, SHFE copper opened lower and closed higher. On Monday's day session, it experienced a brief pullback before rebounding again, maintaining its strength in the afternoon and hitting a new intraday high. The most-traded July contract closed at 78,550, up 0.19%, with a slight decrease in both total trading volume and open interest. SHFE aluminum fluctuated rangebound, with the most-traded July contract closing at 20,405, down 0.10%. Total trading volume decreased slightly, while total open interest increased slightly. Today, SHFE aluminum's forward contracts outperformed near-month contracts. During the same period, alumina hit a new stage low, with the most-traded September contract closing at 2,852, down 0.73%. [Analysis] Today is the last trading day for the June contracts. Tomorrow, attention should be paid to the impact of spot premiums for copper and aluminum on the most-traded contracts. If tensions in the Middle East ease marginally, copper and aluminum, which are in a continuous state of destocking, have room for a rebound. [Valuation] Copper is slightly overvalued, while aluminum is fairly valued. [Risks] External risks (Source: China Fortune Futures)