2026 marks the opening year of the 15th Five-Year Plan. Against the backdrop of intensifying global macro fluctuations and the deepening of domestic high-quality development, the zinc industry is undergoing profound changes: tightness on the ore side and the release of smelting capacity create structural tensions; divergent domestic and overseas inventories mirror the complex supply-demand rebalancing; and technological innovation is becoming a key driving force for resolving conflicts and reshaping the landscape. New energy, new-type infrastructure and other key areas of the 15th Five-Year Plan are injecting new momentum into traditional zinc consumption, while green, low-carbon and circular economy paradigms are also accelerating the restructuring of industrial logic, driven by technological innovation. With the joint support of upstream and downstream zinc enterprises, industry associations and all relevant parties, SMM 2026 SMM Zinc Industry Conference concurrently held with the 8th Hot-Dip Galvanizing Industry Development and Technology Innovation Forum, the 14th Zinc Salt, Zinc Oxide and Secondary Zinc Resources Development Forum, and the Zinc-Based Materials Development Forum will be held in Qingdao, Shandong from August 6 to 8. Under the theme “Gathering Zinc Momentum, Building the Zinc Industry, Embarking on a New Journey,” the conference will be driven by macro perspectives and fundamental analysis as its dual engines, closely adhere to the main line of high-quality development of the 15th Five-Year Plan, and focus on four dimensions: macro policies, supply-demand patterns, global trade, and technological innovation. It aims to drive cost reduction and efficiency improvement through technological breakthroughs, respond to market fluctuations with collaborative innovation, and jointly draw a new blueprint for the high-quality and sustainable development of the zinc industry. Baoding Aoqisheng New-type Metal Materials Manufacturing Co., Ltd. will grandly attend this event, discussing industry development trends with industry peers and jointly pushing the zinc industry to new heights. Click the to register for the conference immediately, witness and participate in this extraordinary and far-reaching industry event, and create a brilliant new chapter together! Founded in 2012 with a registered capital of 39.8 million yuan, Baoding Aoqisheng New-type Metal Materials Manufacturing Co., Ltd. is located in Baoding, Hebei, a historic city in China. Situated in the heart of the Beijing-Tianjin-Hebei triangle, the company is rooted in the galvanizing sector of North China and serves the national galvanizing market. The company has a comprehensive management system and a quality and technical service system with full employee participation, and has obtained the ISO 9001 Quality Management System certification, ISO 45001 Occupational Health and Safety Management System certification, and ISO 14001 Environmental Management System certification. Its “Baoding” and “Aoqisheng” trademarks have been registered with the National Trademark Office. The company holds 7 invention patents and 37 utility model patents. Through deep cultivation of industrial development, it has won multiple heavyweight provincial qualifications and honors, being successively recognized as a Hebei Province Technology-based SME, Hebei Province Innovative SME, Hebei Province Specialized, Distinctive and Novel SME, Hebei Province Specialized, Refined, Distinctive and Novel Demonstration Enterprise, and Provincial Manufacturing Single Champion Enterprise. It has established the Hebei Provincial Enterprise Technology Center and Hebei Provincial Zinc-based Alloy Innovation Center, and has been rated as a Hebei Provincial Green Factory. In 2021, Baoding Aoqisheng New-type Metal Material Manufacturing Co., Ltd. cooperated with the National Engineering Laboratory for Advanced Metal Material Coating of China Iron & Steel Research Institute to build the Baoding Alloy New Material Production and Research Base Project. The company enjoys a high reputation in China's hot-dip galvanizing alloy manufacturing industry. Its main products include: zinc-aluminum alloy, zinc-nickel alloy, multi-element rare earth alloy, zinc-bismuth alloy, zinc-antimony alloy, zinc-aluminum-magnesium alloy, and other zinc-based new-type functional alloys. ◆ Contact ◆ Tel: 0312-8063789 QQ: 767 496 767 Website: www.bdags.com Address: No. 1699 Zhongxin West Road, Qingyuan District, Baoding City Long press to scan and register now 2026 SMM Zinc Conference

As resource security and decarbonization become increasingly important, major economies are strengthening efforts to retain aluminum scrap. From the EU's review of export controls and the U.S. strategic asset proposal to Japan's circular economy initiatives and policies in the UAE and South Africa, these developments could reshape global scrap flows and affect secondary aluminum markets.

SMM June 6 News: Metals Market: Overnight, base metals across both domestic and overseas markets fell collectively. In the domestic market, SHFE tin led the decline with a drop of 5.27%, while LME tin fell 4.92%, LME copper fell 2.78%, and LME aluminum, LME zinc, and SHFE copper all fell over 1% (LME aluminum fell 1.84%, LME zinc fell 1.52%, and SHFE copper fell 1.84%). The declines for the remaining metals were within 1%. Alumina main contract rose 0.65%, and cast aluminum main contract fell 0.61%. Overnight, ferrous metals generally rose, with only stainless steel falling by 0.14%. All other metals rose, with hot-rolled coil and rebar up around 0.4% (hot-rolled coil rose 0.47% and rebar rose 0.44%). For coking coal and coke, coking coal rose 1.73%, and coke rose 0.15%. In precious metals, overnight COMEX gold fell 3.35%, posting a weekly decline of 5.21%. COMEX silver tumbled 8.08%, with a weekly decline of 10.39%, recording a fourth consecutive weekly decline. Domestically, SHFE gold fell 2.93%, with a weekly decline of 0.66%, and SHFE silver fell 7.43%, with a weekly decline of 3.72%. The US once again recorded strong job growth in May, raising concerns about a possible interest rate hike later this year. As of 8:27 on June 5, overnight closing prices: Macro Front [Foreign Ministry Introduces Arrangements for General Secretary Xi Jinping's Visit to North Korea] At the invitation of Kim Jong Un, State Affairs Commission Chairman of the Democratic People's Republic of Korea, Xi Jinping, General Secretary of the Communist Party of China Central Committee and President of the People's Republic of China, will pay a state visit to the Democratic People's Republic of Korea from June 8 to 9. Foreign Ministry Spokesperson Mao Ning stated at a regular press conference on the 5th that this visit marks General Secretary Xi Jinping's first state visit to North Korea in seven years. During the visit, the top leaders of the two parties and two countries will exchange views on bilateral relations and issues of common concern. In recent years, under the strategic guidance of General Secretary Xi Jinping and General Secretary Kim Jong Un, the traditional friendly and cooperative relationship between China and North Korea has maintained sustained, healthy, and stable development, bringing tangible benefits to both countries and their peoples. This year marks the 65th anniversary of the signing of the China-North Korea Treaty of Friendship, Cooperation, and Mutual Assistance. Both sides will take this visit as an opportunity to push China-North Korea relations for greater development while advancing with the times, enhancing the well-being of the two peoples, and making greater contributions to regional and even global peace, stability, development, and prosperity. (Xinhua News Agency) China: Premier Li Qiang chaired a State Council Executive Meeting on June 5. The meeting pointed out that, based on the characteristics of future industries, it is necessary to further strengthen forward-looking layout and intensify promotion efforts to firmly grasp the initiative in development. Efforts must be made to solidify the technological foundation by continuously increasing investment in basic research and systematically deploying original and disruptive technological breakthroughs. Emphasis should be placed on ecosystem building by promoting the deep integration of industry, academia, research, and application, encouraging close cooperation along the industry chain, and cultivating more startups and unicorn enterprises in key tracks. [Ministry of Housing and Urban-Rural Development Seeks Public Comments on Regulations on the Management of Housing Provident Fund (Revised Draft for Comments)] The Ministry of Housing and Urban-Rural Development issued a notice to solicit public comments on the Regulations on the Management of Housing Provident Fund (Revised Draft for Comments). Employees may withdraw the stored balance in their housing provident fund accounts under any of the following circumstances: (1) paying rent; (2) purchasing, constructing, renovating, or overhauling self-occupied housing; (3) repaying principal and interest on home purchase loans; (4) decorating self-occupied housing up to a specified limit; (5) paying property management fees for self-occupied housing; (6) retiring or resigning; (7) completely losing work capacity and terminating the employment (personnel) relationship with the employer; (8) emigrating and settling abroad; (9) other housing consumption circumstances approved by the State Council. (Wall Street CN) The Ministry of Transport and ten other departments issued the Three-Year Action Plan for Promoting High-Quality Development of Mini- and Small-Sized Passenger Car Rental (2026–2028). The plan proposes accelerating the construction of EV charging facilities in highway service areas, with 30,000 new or upgraded EV charging facilities (charging guns) with power above 60 kW to be completed in highway service areas (including rest areas) by the end of 2028. US Dollar: As of the overnight close, the US dollar index rose 0.62% to 100.07, following data that showed strong US job performance in May. The US Bureau of Labor Statistics reported that non-farm payrolls rose by 172,000 in May, with jobs data for the previous two months revised upward. The average job growth over the last three months marked the best performance in over two years, while the unemployment rate held steady at 4.3%, with labour market resilience far exceeding overall market expectations. "Fed mouthpiece" Nick Timiraos noted that the re-acceleration of hiring this spring will provide further ammunition for Fed officials concerned about inflation and believing current interest rates are too low to suppress a new round of price pressures. Some officials have recently hinted that the Fed should be prepared to raise interest rates later this year, at least clawing back part of the three 25-basis-point rate cuts implemented in H2 last year. Those cuts were made to stabilize the labour market, which now looks much healthier than it did then. This jobs report won't entirely settle the debate over how much the Fed should consider raising rates later this year, but it further illustrates that the case for cutting rates in the near term has largely evaporated. The stronger argument for rate hikes currently stems from the inflation outlook. Multiple overlapping shocks, including AI infrastructure buildout, tariffs, and energy, could keep inflation persistently well above the Fed's 2% target, even if progress is made toward reopening the Strait of Hormuz to commercial shipping. If the Fed stays on hold while inflation rises, real inflation-adjusted rates would decline. Even if the labour market isn't the main driver, this mechanism could become a key factor fueling debate over rate hikes. (Jin10 Data APP) Fed's Hammack stated that with the labour market appearing to be roughly in balance, rate hikes could become appropriate in the near term. Hammack said that while she never focuses too much on any single data point, today's jobs report reaffirms that the labour market seems roughly in balance. She noted that the unemployment rate remaining at 4.3% is broadly consistent with what she defines as full employment. Given the uncertainty regarding the economic outlook, holding rates steady is sensible for now. But if recent trends continue, action could be needed soon. This essentially echoed remarks she made on June 2. (Jin10 Data APP) According to foreign media reports, the May non-farm payrolls data far exceeded market expectations, prompting the US interest rate futures market to sharply increase bets on a Fed rate hike at the December meeting. According to LSEG data, interest rate futures markets now price in a 65% probability of a Fed rate hike in December, up from 48% before the release of the jobs report. For the June meeting, the market continues to widely expect the Fed to keep rates unchanged in the 3.50%-3.75% range. Stronger than expected employment data indicates the US labour market remains resilient, further weakening market expectations for near-term rate cuts and reinforcing investor judgement that the Fed could resume raising rates later in the year to address inflation pressures. (Jin10 Data APP) According to CME FedWatch: The probability of the Fed keeping rates unchanged in June is 96.6% (vs. 96.4% prior to the non-farm payrolls release), with a 3.4% probability of a cumulative 25 bp rate cut. The probability of the Fed keeping rates unchanged through July is 90.6%, with a 6.2% probability of a cumulative 25 bp rate hike and a 3.2% probability of a cumulative 25 bp rate cut. (Jin10 Data APP) Macro: Next week, China side, China will release data including the May CPI yoy, May PPI yoy, May Trade Balance (pending), and May M2 Money Supply yoy (pending). US side, data to be released includes the US May NY Fed 1-Year Inflation Expectations, May NFIB Small Business Optimism Index, weekly change in ADP Employment for the week ending May 23, April Trade Balance, May Existing Home Sales Annualized Rate, April Wholesale Sales m/m, May unadjusted CPI yoy, May seasonally adjusted CPI m/m, May seasonally adjusted Core CPI m/m, May unadjusted Core CPI yoy, US 10-Year Note Auction rate and bid-to-cover ratio for the week ending June 10, Initial Jobless Claims for the week ending June 6, May PPI yoy, May PPI m/m, June preliminary 1-year inflation expectations, and June preliminary University of Michigan Consumer Sentiment Index. Germany side, data to be released includes the German April seasonally adjusted Industrial Production m/m, April seasonally adjusted Trade Balance, and May final CPI m/m. Eurozone side, data to be released includes the Eurozone June Sentix Investor Confidence Index, ECB Deposit Facility Rate for the period through June 11, and ECB Main Refinancing Rate for the period through June 11. UK side, data to be released includes the UK April 3-month GDP m/m, April Manufacturing Production m/m, April seasonally adjusted Goods Trade Balance, and April Industrial Production m/m. Other data to be released includes the Bank of Canada rate decision for the period through June 10, France May final CPI m/m, Japan April Trade Balance, and Switzerland May Consumer Confidence Index. Additionally, the Bank of Canada will announce its interest rate decision, and BOC Governor Macklem and Senior Deputy Governor Rogers will hold a monetary policy press conference. The ECB will announce its interest rate decision, and ECB President Lagarde will hold a monetary policy press conference. Crude Oil: At the overnight close, both oil benchmarks fell collectively. WTI crude fell 3%, and Brent crude declined 2.37%, though both recorded weekly gains (WTI crude up 3.31% for the week, Brent crude up 1.82% for the week). Overnight oil prices fell mainly due to reduced market concerns over a potential US-Iran conflict. On the 5th, while at a campaign event in Wisconsin, former President Trump tweeted that he would swiftly end the war with Iran, removing a key driver of high prices. As the midterm elections approach, US public opinion widely believes the US-Iran conflict has led to rising oil prices and higher living costs, pressuring Republican electoral prospects. (CCTV) Fitch stated in a new report that the closure of the Strait of Hormuz created a logistical supply shock but did not alter the market trend. It expects rapid production recovery in the region, strong supply growth from non-OPEC countries combined with potentially more aggressive OPEC policy could reignite oversupply conditions in 2026 Q4 and push oil prices lower once the strait reopens. Based on the assumption that the Strait of Hormuz will reopen around end-July (meaning a five-month effective closure period), our base case forecast is for Brent crude oil to average $87/bbl in 2026. Significant uncertainty remains over the exact timing of the strait's reopening, and risks to oil prices are binary. The current price increase reflects temporary logistical supply disruptions rather than permanent loss of production capacity. We expect the strait to reopen around the end of July and believe Brent crude oil prices will fall significantly from elevated levels seen during the March to July period. (Jin10 Data APP) According to a Bloomberg survey, OPEC crude oil production fell to its lowest level in decades in May, as the US blockade against Iran and ongoing turmoil in the Persian Gulf region continue to curtail output. OPEC daily oil production fell by 1.22 million barrels in May (Iran accounting for half), dropping to 16.33 million barrels per day, the lowest level in at least 37 years. The figures exclude the UAE, which left OPEC last month. Iran's daily oil production last month tumbled to 2.34 million barrels, the lowest in five years, a drop of 710,000 barrels. The US Central Command remains active in enforcing the blockade of all maritime traffic to and from Iranian ports. (Jin10 Data APP) Notably, however, the UK government has raised its domestic crude oil price forecast, now expecting that crude oil prices could remain around $100/bbl until 2028 even if the US reaches a peace agreement with Iran, because it now assumes a longer timeline for energy supply recovery from the Gulf region. The new analysis warns that pressures on energy prices are higher than previously expected, while the global economic outlook is also deteriorating. The UK government previously expected that Gulf region supplies could resume within about six months after the war ends, but it now believes that recovery could take as long as fourteen months. (Jin10 Data APP)

On the morning of June 2, a project with an annual capacity of 30,000 mt of aluminum-based metal composite materials and 5 million pieces of deep-processed material products was signed in Huaibei High-tech Zone. The project integrates new material R&D, intelligent manufacturing, and precision deep processing. Its products are mainly applied in NEVs, energy storage equipment, PV, wind power, and other fields.

On May 28, 2026, the Department for Internal Market Protection of the Eurasian Economic Commission issued Notice No. 2026/483/AD28R2, and based on Commission Order No. 62 of May 25, 2026, decided to extend the validity period of the anti-dumping duty on aluminum strip originating in China and Azerbaijan until May 24, 2031. This decision shall enter into force 30 days after the date of its publication. This case involves products under Eurasian Economic Union tariff codes 7606119100, 7606122003, 7606122008, 7606129203, and 7606129208.

Nanning Industrial Investment Aluminum-Based New Materials Group achieved significant growth in production and sales in Q1 2026, up over 50% YoY, while also securing long-term cooperation with multiple leaders in the new energy field. According to Liang Zhishi, assistant general manager of the group, all orders for Q2 have been scheduled, and the production of battery aluminum foil is expected to further grow by over 20% QoQ.