Against the backdrop of the US accelerating the build-out of its domestic battery supply chain while facing persistent reliance on foreign sources for critical minerals, the Bureau of Industry and Security (BIS) of the US Department of Commerce issued an interim final rule on August 5, 2026, imposing export controls on certain recycled battery materials. The most impactful measure is the temporary export restriction on black mass, an intermediate material from lithium battery recycling. Rather than a complete cutoff of lithium battery-related material exports, this move precisely targets recycled stage products rich in lithium, cobalt, and nickel, aiming to intercept at the source the rapidly growing domestic pool of retired battery resources.

On July 23, 2026, a delegation from Shanghai Metals Market (SMM) conducted an on-site visit to TRAN HONG QUAN METALLURGY Co., Ltd. (THQ) in Vietnam. The delegation included: • Logan Lu, CEO of SMM • Cason Lou, Director of Aluminum Processing, Marketing Department • Lexi Chen, Key Account Manager for Overseas Information Sales • Khai Yuen Chin, Senior Overseas Aluminum Analyst The two sides held in-depth discussions on the development of Vietnam’s primary aluminum projects, domestic aluminum supply capacity, supporting industrial infrastructure, and future market strategies. The visit also provided a clearer picture of the changes taking place across Vietnam’s aluminum industry. A new industrial landscape is gradually emerging—one built on resource advantages, driven by breakthroughs in primary aluminum production, and extending further into downstream processing and manufacturing. A Landmark Development: Vietnam Begins Producing Its Own Primary Aluminum On July 27, Vietnam’s first batch of aluminum ingots with a purity of 99.71% was successfully produced at THQ’s Dak Nong aluminum smelter project. The facility is a pilot plant using electrolytic smelting technology to produce primary aluminum. This means that Vietnam now possesses not only abundant bauxite resources and alumina production capacity, but also the capability to produce primary aluminum. For the first time, the country has established a complete “bauxite–alumina–primary aluminum” value chain. The significance of this development goes beyond the addition of a new aluminum smelter. More importantly, it indicates that Vietnam is beginning to move away from a resource-export-oriented model and toward higher-value materials production and industrial processing. Three Major Changes Are Reshaping Vietnam’s Aluminum Value Chain 01 From Resource Exports to Domestic Processing Vietnam holds significant bauxite reserves, with particularly strong resource advantages in the Central Highlands. In the past, Vietnam largely relied on alumina exports while continuing to import substantial volumes of primary aluminum. Going forward, a greater proportion of domestically produced alumina is expected to enter the electrolytic smelting process, allowing more industrial added value to remain within Vietnam. This transition is also consistent with Vietnam’s broader efforts to promote the deep processing of mineral resources and upgrade its manufacturing sector. 02 From Individual Projects to an Integrated Industrial Value Chain The supporting infrastructure developing around Vietnam’s alumina and aluminum projects includes: • Reliable power supply systems • Supporting industrial park infrastructure • Raw material supply networks • Downstream aluminum processing capacity • Port and logistics facilities Together, these factors support more than the operation of a single factory—they create the foundation for an entire industrial cluster. Vietnam is gradually establishing an interconnected industrial structure spanning resource development, smelting, processing, and manufacturing. 03 From Cost Advantages to Regional Supply Chain Advantages For companies evaluating Vietnam today, its importance lies not only in production costs but increasingly in its strategic position within regional supply chains. Vietnam connects with China’s supply chain, the broader ASEAN market, and export routes to Europe and the United States. It is also attracting the relocation and expansion of industries including new energy, electronics, and automotive manufacturing. This is why a growing number of international companies are reassessing the strategic value of Vietnam’s aluminum industry. It also represents an important window of opportunity for Chinese aluminum companies seeking to expand into the Vietnamese market. Tran Hong Quan Metallurgy Co., Ltd. Founded in 2000, Tran Hong Quan is a major privately owned diversified industrial group in Vietnam, with businesses spanning energy, trading, hospitality, metallurgy, and other sectors. Its subsidiary, Tran Hong Quan Metallurgy Co., Ltd. (THQ Metallurgy), is the investor and developer of the Dak Nong aluminum smelter project. The Dak Nong project is regarded as Vietnam’s first primary aluminum production project and represents a critical link between the country’s alumina resources and its downstream aluminum processing and manufacturing industries. Once operational, the project will produce aluminum ingots, aluminum slab ingots, billets, and other products. It is expected to contribute approximately US$700 million annually to the local economy, significantly strengthen Vietnam’s domestic primary aluminum supply capacity, and reduce the country’s dependence on imported aluminum. In 2026, the project completed its first power delivery and entered the integrated commissioning stage, marking a critical step toward the commercial production of primary aluminum in Vietnam. Join the Conversation at SMM AICE 2026 Connect with aluminum producers, processors, traders, manufacturers, certification organizations, industry associations and decision-makers from across Southeast Asia and the global market. Explore aluminum pricing, primary aluminum supply, processing technologies, low-carbon development, CBAM compliance and new opportunities for regional cooperation. Location: Ho Chi Minh City, Vietnam Date: November 19–20, 2026 Register now: bit.ly/AICE26 and secure your Super Early Bird Pass and save up to USD 200. Register before August 31, 2026. #SMMAICE2026 #AluminumIndustry #VietnamAluminum #AluminumPricing #SoutheastAsia

Nexans reported a 17.4% decline in H1 sales from its Other Activities segment, which mainly includes copper wire and metallurgy. The company said its strategy is to reduce external copper-wire sales in favour of internal sourcing and recycled-content offerings, potentially increasing downstream competition for high-purity copper scrap.

To all relevant organizations: As the new round of global technological revolution and industrial transformation advances in depth, the non-ferrous metal processing industry is embracing critical opportunities for high-quality development. As a vital basic industry for the national economy, innovation in non-ferrous metal processing technologies and equipment upgrades hold great significance for driving the high-end, intelligent, and green development of the manufacturing sector. With its abundant mineral resources, solid industrial foundation, and unique regional advantages, West China has become a key cluster for the country’s non-ferrous metal processing industry, and the pace of technological innovation and industrial upgrading continues to accelerate. Against this backdrop, the "2026 China Mid-West Non-Ferrous Metal Industry Equipment and Technology Expo" will be grandly held at the Gansu International Convention and Exhibition Center from October 30 to November 1, 2026. Themed "Innovation-driven, Smart Future, Green Empowerment," this expo will focus on cutting-edge technologies, advanced equipment, and industry trends in the non-ferrous metal processing sector, aiming to create a high-level platform integrating technical exchanges, achievement displays, and business cooperation. The event will comprehensively showcase the latest achievements in non-ferrous metal smelting, intensive processing, intelligent manufacturing, energy conservation, and environmental protection, bringing together industry experts, enterprise leaders, and research institution representatives to jointly explore new paths and opportunities for industrial development. As a major industrial base in north-west China and a key period along the Belt and Road, Gansu is actively promoting the high-end, clustered, and green transformation of the non-ferrous metals industry. The hosting of this expo will not only inject new momentum into the high-quality development of the non-ferrous metal industry in the north-west region but also provide an important opportunity for industry peers from China and overseas to deepen cooperation and share a prosperous future. We sincerely invite experts, scholars, enterprise representatives, and industry peers from home and abroad in the non-ferrous metal processing sector to gather in Jincheng Lanzhou, jointly explore technological innovation, share development opportunities, and contribute to the transformation, upgrading, and sustainable development of China's non-ferrous metal processing industry. The Expo is scheduled for October 30 – November 1, 2026 at the Gansu International Convention and Exhibition Center. Relevant matters are hereby notified as follows: I. Expo Theme Green Smart Manufacturing · Innovation-driven · Coordinated Development II. Date and Venue Date: October 30 – November 1, 2026 Venue: Gansu International Convention and Exhibition Center III. Organizational Structure Organizers: Gansu Provincial Society for Metals Shaanxi Provincial Society for Metals Shanxi Provincial Society for Metals Henan Provincial Society for Metals Sichuan Provincial Society for Metals Gansu Provincial Mining Federation Co-organizers: Northwest Research Institute of Mining and Metallurgy Baiyin Nonferrous Group Co., Ltd. Jiuquan Iron and Steel (Group) Co., Ltd. Jinchuan Group Co., Ltd. Supporters: Lanzhou Engineering & Research Institute of Nonferrous Metallurgy Co., Ltd. Gansu Provincial Nonferrous Metals Geological Exploration Bureau Lanzhou University of Technology Chalco Lanzhou Aluminum Co., Ltd. Gansu Ferroalloy Association Jinhui Mining Co., Ltd. IV. Concurrent Events: 2026 China Mid-West Aluminum Industry Expo 2026 China Mid-West Casting & Die Casting, Forging, Heat Treatment & Industrial Furnace Expo V. Exhibition Scope: Non-ferrous metal raw materials: Nickel, vanadium, titanium, chromium, tungsten, copper, aluminum, magnesium, zinc, lead, manganese, zirconium, molybdenum, silicon, antimony, tin, tantalum, indium, and other non-ferrous metal ore products and raw materials, magnetic materials, rare and rare-earth materials, precious metal materials, and various alloy materials; Non-ferrous metal products: Copper products (tubes, sheets & plates, sheets, bars, strips, flats and their alloy products, etc.); aluminum products (aluminum alloy profiles, tubes, bars, sheets & plates, strips, foils, aluminum sheets, aluminum ingots, etc.); titanium alloy products; magnesium alloy products; powder metallurgy products, etc.; Non-ferrous metal mining technology and equipment: Non-ferrous mining exploration, extraction, and beneficiation equipment, filtration equipment, powder processing equipment, construction and transportation equipment, etc.; Non-ferrous metal smelting technology and equipment: Smelting furnaces, refining equipment, smelting pumps and valves, filtration equipment, conveying equipment, heat exchange equipment, gas-based acid production equipment, corrosion-resistant equipment, hydrometallurgy, electrolysis equipment, large power rectifier power supply, electrolytic cells, extraction equipment, etc.; Non-ferrous metal processing technology and equipment: Melting, heating, hot and cold rolling, extrusion, drawing, straightening, shearing, casting equipment, etc.; Non-ferrous metal environmental protection equipment: Recycling equipment, energy-saving and emission-reduction equipment; Non-ferrous metal automation control equipment: Instruments and meters, packaging equipment, surface treatment equipment, etc.; Auxiliary materials for non-ferrous metal production: Chemicals, solvents, refractory materials, catalysts, gases, lubricants, etc. VI. Event Arrangements (I) Opening Ceremony: Speeches by leaders and guests; exhibition tour. (II) Theme Forums: 1. Forum on the Green Transformation Pathway for the Metallurgical Industry Under the "Dual Carbon" Goals 2. Forum on Smart Factories Empowering Metal Processing Upgrades 3. Application of Digital Twin Technology in Smelting/Casting/Heat Treatment Processes 4. Building the Non-Ferrous Metal Supply Chain Along the Belt and Road 5. Frontier Forum on Green, Low-Carbon, and Intelligent Smelting 6. Focusing on Technological Innovation and Intelligent Upgrading in the Metallurgical Industry Under the "Dual Carbon" Goals (III) Expo Exhibition Setup: October 28–29, 2026 Exhibition Dates: October 30 – November 1, 2026 Venue: Gansu International Convention and Exhibition Center VII. Participants The China Mid-West Non-Ferrous Metal Industry Equipment and Technology Expo, centered on "high-end, green, and regionalized" themes, will precisely invite large smelters, equipment manufacturers and technology suppliers, experts and scholars from universities and research institutes, professionals focused on new materials, new processes, and new technologies for non-ferrous metals, aerospace and national defense sectors, automotive and rail transit, construction and home furnishings, local government agencies, industry associations, and chambers of commerce, enterprises involved in aluminum semis import and export trade, as well as logistics, warehousing, and supply chain management companies. Covering multiple sectors such as equipment manufacturers, research institutions, end-use applications, government bodies, and trade service providers, this will form a diverse group of professional attendees and promote industry exchange and cooperation. VIII. Publicity and Promotion Before, during, and after the event, publicity and coverage will be carried out through platforms such as the official website, official account, Baidu promotion, WeChat Video, Douyin, Kuaishou, Weibo, Xiaohongshu, and Zhihu. The expo’s opening ceremony is planned to be widely promoted via a full live broadcast on the Video platform.

[8.4 Morning Briefing] Trump stated that an agreement has been reached regarding the Strait of Hormuz, and an agreement on denuclearization will also be reached, with negotiations scheduled to begin on Monday afternoon; Iranian Foreign Ministry spokesman Baghaei stated that the situation in the Strait of Hormuz will not return to the pre-conflict state, and the new shipping lane agreed with Oman will be determined through mutual consultations. The most-traded SHFE nickel 2609 contract plunged below 130,000 yuan in the morning session, closing at 129,520 yuan/mt at the end of the morning session, down 1.91%. As U.S.-Iran negotiations begin, the Strait of Hormuz is expected to resume navigation, sulfur cost support has weakened, and nickel prices have fallen sharply. In the short term, the most-traded SHFE nickel contract is expected to trade in the range of 128,000-135,000 yuan/mt.

In its official H1 2026 release, PT Trimegah Bangun Persada (Harita Nickel, IDX: NCKL) said its Rp17.1tn revenue was supported by operational discipline and capacity optimization amid a still-challenging global nickel market. CFO Suparsin Darmo Liwan said nickel ore sales volumes rose YoY, helped by the new PT Gane Tambang Sentosa (GTS) mine running since Q3 2025 and added lines at the KPS pyrometallurgy plant. Ferronickel sales rose notably on higher KPS RKEF output, while HPAL (MHP) sales were stable, shaped by delivery scheduling. Harita is also building a 50 MW HPAL waste-heat plant (Q4 2026) and a 40 MW solar plant (99% built).