National crude steel demand decreased from 1.05 billion mt in 2020 to 910 million mt in 2025, with the steel consumption in manufacturing (machinery, automobiles, home appliances, and ships) increasing from 242 million mt to 280 million mt, a rise of 15.7%, and its share rising from 23% to 31%, becoming a key force in boosting the upgrade of crude steel demand structure. In contrast, construction demand fell from 631 million mt to 440 million mt, with its share dropping from 60% to 49%.

[SMM Cast Aluminum Alloy Morning Comment: Overnight Futures Slightly Lower, Spot Prices Hold Steady Amid Wait-and-See Attitude] On Wednesday, the A00 aluminum price edged down by 30 yuan/mt to 23,260 yuan/mt compared with the previous trading day, while the SMM ADC12 price remained stable at 23,650 yuan/mt. As the Chinese New Year approaches, upstream and downstream enterprises in the secondary aluminum industry chain have entered a concentrated holiday period, leading to a noticeable decline in market liquidity. Actual transactions continue to be sluggish, with spot quotations largely making minor adjustments around the futures market.

[SMM Express] The latest data released today (11th) by the China Association of Automobile Manufacturers (CAAM) showed that China's automobile industry maintained stable operation in January 2026. In January, automobile production and sales reached 2.45 million units and 2.346 million units, respectively, with production up 0.01% YoY and sales down 3.2% YoY.

According to CAAM data, in January, automobile production and sales reached 2.45 million and 2.346 million units respectively. Production was up 0.01% YoY, while sales decreased by 3.2% YoY, down 25.7% and 28.3% MoM respectively. NEV production and sales reached 1.041 million and 945,000 units respectively, increasing by 2.5% and 0.1% YoY. NEV sales accounted for 40.3% of total new automobile sales. According to CAAM analysis, in January, the overall automobile industry operated steadily. The passenger vehicle market experienced some decline, while the commercial vehicle market continued its positive trend. The NEV market operated stably, and automobile exports maintained growth. The main factors contributing to the market decline were: first, the transition and adjustment of the NEV purch

ASCC SMM (7th) Automotive Supply Chain Conference & Summit Forum on New Material Applications Officially Announced and Scheduled! See you in Wuhan from September 3-5, 2025! The global automotive industry is accelerating its transition towards electrification, intelligence, and low carbonization, with breakthroughs in new material technologies and supply chain innovations becoming the core driving forces for high-quality development. Facing new situations such as carbon neutrality, global adjustments in the industry chain, and the low-altitude economy, the automotive industry requires cross-sectoral collaborative innovation to build a resilient and sustainable supply chain. Against this backdrop, the ASCC 2025 7th SMM Automotive Supply Chain Conference & Summit Forum on New Material Applications is set to commence. The conference, themed "Dual Circulation at Home and Abroad, Pursuing Global Development," focuses on technological upgrades and strategic opportunities across the entire supply chain, bringing together global automakers, suppliers, R&D institutions, and others to explore core topics. Scan the QR code for conference details 01 Core Highlights and Topics of the Conference 01 / Commercial Vehicle Technology Forum This forum aims to gather domestic and international commercial vehicle OEMs to jointly discuss: the advancement of chassis intelligence, opportunities for Chinese commercial vehicles to go global, and innovations in business models. 02 / Innovations in Automotive Three Electric Systems (Battery, Motor, Electronic Control) Delve into material innovations and process optimizations in three electric technologies, exploring the industrialization paths for high-energy-density batteries, efficient motor drive systems, and intelligent electronic control. 03 / Chassis and Auto Body Structural Innovations Focus on cutting-edge technologies such as auto body parts and integrated die-casting, driving the evolution of automotive design and manufacturing towards modularity and high safety. 04 / Globalization of the Supply Chain and Go-Global Strategies Analyze changes in the international economic and trade environment, sharing practical experiences and risk management strategies of automakers and suppliers in overseas layouts, localized operations, and cross-border collaborations. 05 / Low-Altitude Economy and Future Mobility Anticipate the linkage demands of emerging fields such as drone logistics and eVTOL (electric vertical takeoff and landing aircraft) on the automotive supply chain, exploring the integrated applications of new materials and intelligent technologies in three-dimensional transportation. Scan the QR code for conference details 02 Agenda Overview 01 | September 3 13:00-18:00 Guest Registration 14:00-17:30 Automotive Three Electric Ecosystem Forum 14:00-17:30 Forum on Technological Leap and Globalization Opportunities for Commercial Vehicles 02 | September 4 09:00-12:00 Entrepreneurial Leadership Forum 14:00-17:00 Overseas International Forum 14:00-17:00 Automotive Chassis & Auto Body Forum 18:00-20:00 Automobile Industry Gala Night 03 | September 5 09:00-11:00 Low-Altitude Economy Forum 14:00-16:00 Company Tour Proposed Visits: Dongfeng, VOYAH Scan the QR code for conference details 03 Speaking Agenda · Afternoon of September 3 Automotive Three Electric Ecosystem Forum Forum on Technological Leap and Globalization Opportunities for Commercial Vehicles · Afternoon of September 4 Entrepreneurial Leadership Forum · Afternoon of September 4 Overseas International Forum Automotive Chassis & Auto Body Forum · Morning of September 5 Low-Altitude Economy Forum Scan the QR code for conference details 04 List of Previous Attendees Scan the QR code for conference details

Li Shufu, Chairman of Geely Holding Group: Geely Decides Not to Build New Automobile Production Plants At the "China Auto Chongqing Forum" held in Chongqing, Li Shufu, Chairman of Geely Holding Group, participated via video link. He stated that the global automobile industry is currently facing severe overcapacity. Geely has decided not to build new automobile production plants and will avoid redundant construction. Instead, Geely aims to fully utilize the global surplus capacity and engage in pragmatic cooperation and resource restructuring to the greatest extent possible. By doing so, Geely can leverage mature quality assurance systems and skilled workers, while also improving the utilization rate of peers' surplus capacity, thereby participating in global market competition with a friendly attitude.