On the morning of March 28, Wanhua Chemical's Wanhua Haiyang Green Electricity Industrial Park held a ceremony in Longshan Subdistrict, Haiyang City, Yantai City, Shandong Province, marking the commencement of production for Phase I and the groundbreaking for Phase II. This industrial park is a landmark project for Wanhua Chemical's strategic transformation into "chemicals + new energy" and its expansion into battery materials as a second core business. Covering a total area of approximately 1,850 mu, the park involves a planned total investment of 16.8 billion yuan. It has been designated as a major project in Shandong Province for 2025, a provincial source-grid-load-storage integrated pilot project, and a provincial green electricity industrial park pilot zone.

Middle East tensions have sparked a massive steel trade "mismatch." Iran's blocked exports created a 2.3-million-ton billet vacuum in Southeast Asia, while the Red Sea crisis stalled China's flat steel shipments to the Gulf. Consequently, China and India are rapidly absorbing SEA's diverted billet orders. SMM projects that blocked flat steel returning to China's domestic market, combined with surging overseas billet demand, will accelerate the narrowing of the domestic HRC-rebar spread.

With the rapid advancement of technology, tin solder, as an indispensable basic material in the field of electronic manufacturing, has become increasingly important. From precision PCB circuit boards to dazzling LED lighting, from cutting-edge semiconductor packaging to the booming PV industry, the application of tin solder is ubiquitous, playing a crucial role in the stability and enhancement of product quality. At the same time, we should also recognize that the rise of the manufacturing industry in Southeast Asia has brought new growth points to the tin solder market. This region is rich in labor resources, has relatively low costs, and enjoys strong government policy support, attracting numerous international electronics companies to establish operations. As these companies continue to grow and expand, the demand for tin solder will also continue to increase. To provide a more comprehensive display of the distribution pattern of tin solder enterprises in China and Southeast Asia, and to more accurately meet market demands, Haoyu Electronic Materials Co., Ltd. has partnered with SMM to initiate the creation of "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)" . Through this map, the industry can gain a more comprehensive understanding of the current application status of tin solder in China and Southeast Asia, empowering enterprises in their layout and industrial development. Haoyu Electronic Materials Co., Ltd. was established in 2019 and is a high-tech manufacturing enterprise integrating production, sales, and service. The company is located in the manufacturing hub of Ho Chi Minh City, near the Ho Chi Minh City High-Tech Park, with convenient transportation. To better serve customers, the company opened a new factory in Long An Province in 2021. Over the past few years, we have understood that technical requirements, product quality, and service capabilities are the keys to building strong trust with our customers. For many years, we have been committed to the research and development of lead-free solder materials, with solder wire, solder paste, and solder bars as our main products. Our years of product research and development have increased our market share by five times. Among them, the Sn-Cu-Ag series solder bars have received widespread recognition from customers. Contact +86 18820312160 (China) Factory: 184, DT825 Road, Binh Tien 2, Duc Hoa Ha Hamlet, Duc Hoa District, Long An Province, Vietnam Office: 111, 15A Road, District 6, Phuoc Long B Ward, Thu Duc City, Ho Chi Minh City, Vietnam 》》Click the link to immediately receive the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)"《《 Map Cooperation Contact Ge Zhang 13564141216 zhangge@smm.cn

[SMM Weekly Survey on Aluminum Downstream] The operating rate of leading domestic aluminum downstream processing enterprises dropped back slightly by 0.8 percentage points WoW to 62.6%, ending an eight-week consecutive increase, and fell by 0.6 percentage points YoY.

[SMM Morning Meeting Summary: Copper Prices Fluctuate at High Levels Amid Mixed Signals, Spot Market Continues to Indicate Tightness] Overnight, LME copper opened at $9,842.5, with price fluctuations during the session, reaching a high of $9,917.0 and a low of $9,837.0, showing an overall fluctuating upward trend. It finally closed at $9,902.0, up $37.5 from the previous close of $9,864.5, an increase of 0.38%. Trading volume reached 15,927 lots, and open interest stood at 290,561 lots. Overnight, the SHFE copper 2505 contract opened at 80,560 yuan/mt, with price fluctuations during the session, reaching a high of 80,640 yuan/mt and a low of 80,220 yuan/mt, showing an overall fluctuating trend. It finally closed at 80,550 yuan/mt, up 200 yuan from the previous value, an increase of 0.25%. Trading volume was 32,138 lots, and open interest reached 231,245 lots.

March 18, 2025: Today's warrant prices were $48-60/mt, QP April, with an average price up $4/mt compared to the previous trading day; B/L prices were $76-90/mt, QP April, with the average price unchanged from the previous trading day. EQ copper (CIF B/L) was $20-30/mt, QP March, with an average price up $5/mt compared to the previous trading day. The quotations referenced cargo arrivals in mid-to-late March and early April. During the day, the SHFE/LME price ratio for the SHFE copper 2503 contract was around -600 yuan/mt. LME copper 3M-Mar was at C$47.54/mt, LME copper 3M-Apr was at C$18.56/mt, and the spread between March and April dates was around C$28.98/mt. Due to the continued delay in long-term contract scheduling, market inquiries focused on April arrivals for registration and EQ B/L. Meanwhile, warrant offers rose due to the recovery in the price ratio, but intraday transactions remained sluggish. Currently, the actual transaction price for pyro high-quality copper warrants is $60/mt, mainstream pyro at $54/mt, and hydrometallurgical at $48/mt. High-quality copper B/L is $90/mt, mainstream pyro around $83/mt, and hydrometallurgical at $76/mt. CIF B/L EQ copper is $20-30/mt, with an average price of $25/mt.