Recently, Shaanxi Jutai New Materials Technology Co., Ltd. announced that its 30,000 mt annual nickel plate production line located at the Zhoushan base in Zhejiang has entered the final commissioning phase and will officially commence production in March 2026. It is understood that the nickel plate project to be launched mainly produces high-purity electrodeposited nickel plates, which will be widely used in the manufacturing fields of alloys and electroplating.

Although the China-U.S. dialogue in London sent a signal of easing tensions in rare earth magnetic material trade, the current situation in the industry is still marked by a contraction in short-term orders and a strong wait-and-see sentiment in the market. In the long run, Chinese magnetic material enterprises are leveraging this momentum to accelerate their transformation towards high-end and green development, with technological breakthroughs and supply chain restructuring becoming key bargaining chips for restarting cooperation in the future.

This week, nickel prices showed a downward trend. In the spot market, the average price of SMM1# refined nickel fell from 123,900 yuan/mt at the beginning of the week to 121,500 yuan/mt, a decline of 1.9%. The premium for Jinchuan nickel remained in the range of 2,300-2,600 yuan/mt this week, showing no significant change compared to last week. Currently, downstream procurement is still mainly driven by immediate needs, with low enthusiasm for purchasing, resulting in generally average trading activity in the spot market. In the futures market, the most-traded SHFE nickel contract (NI2507) closed at 119,920 yuan/mt this week, down 1.82%, with prices once again falling below the key point of 120,000 yuan/mt. LME nickel prices fell more sharply than SHFE nickel prices this week, closing at $15,120/mt, down 2.39%. On the macro front, the US May non-farm payrolls data significantly exceeded expectations (with an increase of 272,000 jobs), coupled with the US Fed's June interest rate decision signaling a more "hawkish" stance, weakening expectations for US Fed interest rate cuts. The risk of escalating trade tariffs has intensified, with the US announcing the imposition of additional tariffs on steel home appliances (such as washing machines and refrigerators) starting from June 23, impacting nickel end-use demand in sectors like stainless steel and electroplating. The geopolitical conflict in the Middle East has sharply escalated, driving up crude oil and gold prices, prompting a shift towards safe-haven assets and accelerating the decline in nickel prices. In terms of inventory, the inventory in the Shanghai Bonded Zone was approximately 5,000 mt this week, unchanged WoW. Domestic social inventory was approximately 39,400 mt, with an inventory buildup of about 8 mt WoW, maintaining a stable inventory situation. This week, the nickel market broke below key levels under the dual impact of macroeconomic pressures and fundamental supply surpluses. In the absence of unexpected demand improvements or significant supply-side contractions, nickel prices are unlikely to break out of the current doldrums, with downside risks still present. It is expected that in the short term, the bottom of the nickel price range will be around 115,000 yuan, while the top will face pressure at 123,000 yuan.

Four years ago, Central China Copper Co., Ltd., a subsidiary of China Copper Co., Ltd. (hereinafter referred to as "Central China Copper"), successfully developed 6e-06-meter rolled copper foil, setting a new record for the thinnest rolled copper foil in China. Four years later, at the electronica China in Munich, the company launched red-coated and black-coated foils with high flexibility and corrosion resistance, becoming one of the highlights of the exhibition. From thick copper strips to copper foils as thin as cicada wings, and from ordinary bare foils to high-end red-coated and black-coated foils, Central China Copper has carved out a unique path in product transformation and upgrading. From 2021 to 2024, the company's copper foil production and sales exceeded 2,000 mt for four consecutive years, and its copper foil business achieved profitability for five consecutive years. Applying "Lipstick" on "Cicada Wings" "Applying a uniform red coating on the surface of copper foil is like applying lipstick to a delicate cicada wing. Any slight misstep can result in color variations or peeling." Li Haifeng, a technician specializing in surface treatment, still vividly recalls the technical challenges faced during the initial trial production of red-coated foil. In early 2020, while maintaining stable production of qualified bare foil, Central China Copper set its sights on high-value-added treated foils and began attempting to produce red-coated foil. During the initial trial production, issues such as frequent red spots, color variations, and inadequate oxidation resistance during the electroplating process led to a scrap rate of over 50%. Watching dozens of tons of foil material turn into "colorful" scrap in the plating tanks, the technicians felt both heartache and helplessness. To overcome these challenges, the company's technical team members camped out by the production line day and night for several consecutive weeks. Their hard work paid off, as they finally identified the root cause of the problem: the instability of the electroplating solution formula and significant temperature fluctuations. They redesigned the electroplating solution formula, added new-type additives to control fluctuations in metal ion concentration, installed an online high-precision real-time temperature monitoring system to enable real-time regulation of the electroplating solution, and innovated the "layer-by-layer current method" process to achieve denser and more uniform crystallization of the red coating. In May 2020, Central China Copper shipped its first batch of 10 mt of red-coated foil to domestic customers, and the product quality received customer recognition. As one of the earliest companies in China to successfully develop red-coated foil, Central China Copper, after years of technological accumulation, now boasts product stability that far surpasses that of its peers. Its red-coated foil has become a sought-after product in the market, firmly occupying one-third of the market share and successfully entering the supply chain systems of top-tier enterprises in China's electronics industry. Finding Light in the Darkness of Black Foil With the consumer electronics industry moving towards lighter, thinner, and more flexible designs, the new energy sector entering a rapid development phase, and AI being widely applied across various industries, the market demand for black-coated foil has surged exponentially. Central China Copper Industry closely followed market changes and initiated R&D efforts for blackened foil in 2022. If the R&D of red-coated foil could be described as a "tough battle mode," then the R&D of blackened foil was a "peak performance mode," requiring not only uniform coverage of the blackened layer but also ensuring that it would not peel off or oxidize during subsequent processing. As the production technology for blackened foil had long been monopolized by Japanese companies, the R&D team of Central China Copper Industry had no process flows or technical parameters to refer to. At the beginning of trial production, the blackened foil produced frequently had issues such as color differences in the coating, oxidation spots on the shiny surface, and insufficient adhesion leading to powder shedding. "At that time, it was like being trapped in an endless darkness, with no light in sight," sighed Qiao Yafeng, the head of the R&D team. To break the deadlock as soon as possible, Central China Copper Industry collaborated with the University of Shanghai for Science and Technology and Chalco Academy on industry-university-research cooperation, with the latter providing experimental data support, while the R&D team of Central China Copper Industry was responsible for industrial transformation and verification. However, reality once again poured cold water on everyone. The blackened foil samples trial-produced in the laboratory had excellent indicators, but various issues arose after transferring to the production line. Qiao Yafeng led the team to re-examine over 100 sets of production process data and verify them one by one. After thousands of tests and continuous efforts over hundreds of days and nights, they finally saw the "dawn" of victory. In April 2023, Central China Copper Industry successfully trial-produced blackened foil on its production line, achieving a key leap from laboratory to mass production; in June 2023, the first batch of blackened foil officially passed domestic customer certification; in 2024, small-batch deliveries of blackened foil were made, with positive customer feedback. Capacity Expansion Opens Up New Growth Poles In May, the project construction of Central China Copper Industry entered a "golden period," with the company's new copper foil surface treatment unit project accelerating and scheduled for equipment installation in October and commissioning and production before the end of the year. As a key investment project for Central China Copper Industry in 2025, this project is of great significance for adjusting the product structure of copper foil and forming new profit growth points. Differentiated development of special copper foil products such as red-coated foil, blackened foil, and alloy foil to achieve import substitution of high-end products is the future development direction of Central China Copper Industry's copper foil products. Currently, constrained by the treatment line, the company's production capacity for high value-added treated foil is severely limited, making the addition of a new copper foil surface treatment unit imperative. The new copper foil surface treatment unit adopts domestically leading production processes and equipment, capable of producing high-quality, high-performance red-coated foil, blackened foil, and alloy foil. The intelligent design of this unit not only improves production efficiency but also ensures product stability and consistency. In addition, Central China Copper prioritizes environmental protection and sustainable development. The project has introduced a new zero-liquid-discharge wastewater system to achieve green production. The completion and commissioning of the new copper foil surface treatment unit will bring significant economic benefits to Central China Copper, with the annual capacity of high value-added copper foil expected to increase by over 40%. Qiao Yafeng stated, "The construction of the new copper foil surface treatment unit is an important step for Central China Copper to deepen its strategic layout in the copper foil product sector. We will take this as an opportunity to further optimize the product structure of copper foil, enhance our core market competitiveness, and position the company as a leading enterprise in the copper foil industry." "Leading development with 'strip' and securing the future with 'foil'." Moving forward, Central China Copper will continue to delve deeper into the copper foil sector, continuously improving product quality and service levels, and propelling the company towards the high-end of the copper processing industry chain. We will strive unremittingly to build a national high-end copper-based new material base and contribute to the construction of a "new Chalco" with exceptional material capabilities.

As a critical material in fields such as aerospace, integrated circuits, and high-speed rail transportation, high-end copper alloys have increasingly prominent strategic significance. Despite China's copper semis production and consumption ranking first globally for consecutive years, with a self-sufficiency rate of 96% for general copper semis, high-end copper alloy products still heavily rely on imports. To address this "chokepoint" challenge, SMM recently launched an initiative for industrial resource integration. Collaborating with upstream and downstream enterprises in the industry chain, as well as research institutions, it meticulously compiled the "2026 China Copper Alloy Materials Sourcing Guide" , aiming to advance the localisation process of high-end copper alloy materials and facilitate the transition from a "major material producer" to a "leading material powerhouse." Jiangsu Xingcheng New Materials Co., Ltd. actively participated in the joint compilation of the sourcing guide as a partner, jointly promoting the healthy and rapid upgrading of China's copper alloy materials industry chain. Jiangsu Xingcheng New Materials Co., Ltd. , located in Xinghua City, Jiangsu Province, renowned as the "Land of Fish and Rice," is a private technology enterprise integrating the R&D, production, processing, and sales of alloy products. It has been recognized as a high-tech enterprise and a specialized, sophisticated, unique, and innovative enterprise. Situated in the Diduozhen Industrial Concentration Zone, the company has a registered capital of 58 million yuan, a factory area spanning over 20,000 m², and a total investment of several hundred million yuan. It produces 10,000 mt of various high-precision copper alloy materials annually. Currently, it employs over a hundred staff members, with technical and managerial personnel accounting for approximately 30% of the workforce. Over the years, the company has consistently adhered to the principle of "pursuing development through technology and survival through quality," continuously optimizing its products. Simultaneously, it emphasizes the recruitment and nurturing of various professional and technical talents, establishing a high-caliber R&D team. It increases investment in training to enhance employee quality and adopts modern management concepts to provide the driving force for the company's development. The company strictly adheres to the ISO9001 quality management standard and upholds the quality policy of "building Xingcheng with quality and achieving the future with innovation." In its future development, it will continue to provide superior products to domestic and foreign customers with an honest and pragmatic approach. The company is a professional enterprise primarily engaged in the R&D and production of copper-based alloy materials, boasting a professional technical service team. It has been successively recognized as a national high-tech enterprise, a national-level technology-based small and medium-sized enterprise, a provincial specialized, sophisticated, unique, and innovative small giant enterprise, a provincial enterprise technology center, and a provincial private technology enterprise, among others. It offers high-quality materials and after-sales services to customers. Main products: copper strip, copper foil, copper plate, copper billet, copper wire, etc. The company maintains a substantial inventory throughout the year, providing high-precision slitting, film coating, electroplating, and other services. It possesses various precision detection instruments, and its production standards comply with technical standards such as European, Japanese, and American standards. Main equipment: melting furnace, milling machine, annealing furnace, cold rolling mill, slitting machine, laminating machine, etc.; equipment for quality detection: microhardness tester, high-temperature test chamber, conductivity meter, surface roughness tester, salt spray test chamber, tensile elongation machine, direct-reading spectrometer, etc. Product Introduction Cultural Philosophy Contact Information Wang Minglong 138 0142 3955 Click here to get the "2026 China Copper Alloy Material Procurement Guide" for free SMM Contact Person Huang Yizhe 139 5899 2666 huangyizhe@smm.cn

SMM News on May 28: In the early summer, all things thrive! As the May breeze sweeps across the land of central China, carrying with it the fragrance of wheat waves and the lushness of vegetation, Luohe Yuanheng New Materials Co., Ltd. held a grand commissioning ceremony in this vibrant season. On May 28, the atmosphere at the commissioning ceremony site was lively, with a gathering of distinguished guests, all coming together to witness this significant moment. On the occasion of the successful commissioning ceremony of Luohe Yuanheng New Materials Co., Ltd., SMM Information & Technology Co., Ltd. (SMM) extends its sincere congratulations to Luohe Yuanheng New Materials Co., Ltd. We hope that the company will take the commissioning as a new starting point, continuously making breakthroughs in technological innovation, capacity release, and market expansion, injecting more vitality and momentum into the high-quality development of the new materials industry! Introduction to Luohe Yuanheng New Materials Co., Ltd. Company Profile Luohe Yuanheng New Materials Co., Ltd., established on August 8, 2024, with a registered capital of 50 million yuan, is a comprehensive enterprise focusing on the R&D, production, sales, and related technical services of new materials. Project Overview The company has a total investment of 50 million yuan and a building area of 6,690 m². The company places great emphasis on technological R&D and innovation, having assembled a high-caliber R&D team, equipped with internationally leading production equipment and detection instruments. It strictly adheres to advanced industry production processes and quality standards, implementing key projects such as "annual production of 100,000 mt of copper-based new materials." Development Plan Park Synergy and Industry Chain Extension : Firstly, relying on the professional copper distribution park in Linying County, the company actively integrates into the park's industrial ecosystem, strengthens collaborative cooperation with upstream and downstream enterprises within the park, extends the new materials industry chain, and enhances the company's influence and competitiveness within the industry. Technological Innovation and Product Upgrades : Secondly, the company will continue to increase R&D investment, establish close industry-university-research cooperation with well-known domestic universities and research institutions, focus on cutting-edge technologies in the field of new materials, continuously promote product upgrades and replacements, improve product performance and added value, and expand the high-end new materials market. Strategic Goals and Development Path : Thirdly, with the strategic goal of "becoming a leading new materials supplier and technology service provider in China," the company adheres to the business philosophy of "innovation-driven, quality-led, and green development." On one hand, it will strengthen internal management, optimize production processes, and improve production efficiency and product quality; on the other hand, it will actively expand the market, strengthen brand building, and achieve rapid corporate development. It is expected that by the end of 2025, the company's annual output value will reach 3.5 billion yuan, and its annual tax payment will reach 320 million yuan. Product Introduction of Luohe Yuanheng New Material Co., Ltd. Main Products The company mainly produces bright low-oxygen and oxygen-free copper rods, anode plates, etc. Among them, bright low-oxygen and oxygen-free copper rods are mainly used in fields such as wire and cable, electronic components, communication cables, rail transit, and new energy; anode plates are mainly used as raw materials for the production of copper cathode {{note: do not translate as electrolytic copper}}. Low-oxygen Copper Rod The oxygen content of low-oxygen copper rods is relatively low, usually below 200ppm. This gives them better electrical conductivity than ordinary copper materials, while also providing a certain level of strength and toughness. Anode Plate Anode plates, as key components in electrochemical systems, play an indispensable role in many industries. Their main function is to serve as the electrode where oxidation reactions occur during electrochemical processes such as electrolysis, electroplating, and battery operations, providing an electron conduction path for the system. SMM Contact Person: Haiyang Li Phone: 16601900091 Email: lihaiyang@smm.cn