The global secondary copper industry is at a critical stage characterized by tightening resources, green transformation, and intensifying global competition. As environmental protection policies continue to tighten and the energy crisis deepens, secondary copper, with its significant environmental and economic advantages, plays an increasingly prominent role in alleviating tight supply of primary copper and promoting low-carbon development. Currently, the global copper industry chain faces multiple pressures including supply vulnerability, demand transformation, and low-carbon upgrading. Major economies have successively included copper in their critical minerals lists, and international competition over secondary copper resources is becoming increasingly fierce. Optimizing the industry chain structure, improving recycling efficiency, and harmonizing global standards have become urgent priorities for the industry. To help the industry gain a comprehensive understanding of global policy trends and market landscape, SMM and TOUCHI INTERNATIONAL CORP. have joined hands to produce the , focusing on industry development directions and conveying market insights, aiming to provide practitioners with an authoritative and professional industry distribution guide. (Click the link to get it for free:) TOUCHI INTERNATIONAL CORP. was founded in 2001. With 25 years of deep engagement in the recycled resources sector, it is a globally renowned non-ferrous metal processing and green supply chain service provider, with operations covering more than ten countries and regions including China, South Korea, Vietnam, the US, Australia, and the UAE. The company is headquartered in Akasaka, Minato-ku, Tokyo, Japan, and has a core production site in Kasumigaura City, Ibaraki Prefecture, with a factory area of 12,000 m², equipped with 8 dry and wet copper wire nodules processing lines. It has its own transportation team, achieving integrated operations of raw material recycling, transportation, and processing. Leveraging a professional multinational team and global coordination capabilities, it specializes in the processing and trading of secondary metal materials including bare bright copper wire nodules, bare bright wire, No. 2 copper, tin bronze, bare bright copper ingots, 6-series aluminum extrusions, tin ingots, and more . With stable quality and multiple quality certifications including ISO9001, CIC, and CQC, the company upholds the principles of green development, shared benefits, and people-oriented management, and is highly influential in Japan's secondary metals industry. TOUCHI INTERNATIONAL CORP. Contact: Ryu kokushi Contact Information (Japan): Tel: +81-3-5545-4065 Mobile: +81 9024352198 Email: long@to-chi.co.jp / ryu@to-chi.co.jp URL: https://www.to-chi.co.jp/ Contact: Huiming Yang Mobile: +86 13701160431 (China) Email: huiming@to-chi.co.jp Address (China): 201-03, 2nd Floor, Building 2, No. 52, Chunhe Road, Daxing District, Beijing Address (Headquarters): 3F, 3-6-4 Akasaka, Minato-ku, Tokyo 107-0052, Japan SMM Joint Production Contact Liu Mingkang 156 5309 0867 liumingkang@smm.cn

On May 12, the 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum , organized by Shanghai Metals Market (SMM), drew to a successful close at the Sheraton Grande Tokyo Bay Hotel in Tokyo, Japan! Conference Background Driven by global sustainable development and circular economy initiatives, recycled metals and battery recycling have gained growing strategic importance. Facing rising metal demand and dwindling natural resources, recycling stands out as an eco-friendly and cost-effective alternative, backed by supportive policies and investment worldwide. As a major Asian recycling powerhouse, Japan boasts robust secondary metal output and sophisticated recycling technologies. It has also rolled out massive funding plans to expand e-waste recycling infrastructure and scale up relevant processing capacity. Centered on the theme "Low Carbon, Global Echoes", the 2026 GRMI gathered worldwide enterprises, experts and officials to exchange insights on circular economy trends, technological breakthroughs and industry policies. This event comprises three forums ( Main Forum, Recycling Forum, and Renewable Resources Equipment Forum ) and multiple panel sessions. Key Highlights Reshaping the Global Recycled Metal Market — Policy Drivers and New Hotspots in India, Pakistan, the Middle East & Japan Shifting Dynamics in Southeast Asia's Recycled Metals: The Malaysia-Thailand Trade Decline and Vietnam's Rising Recycling Economy Resource Contention in the Secondary Lead Market: Redefining the Global Supply Chain Interpreting Recycled Copper Policies in China, the US, Europe, and Japan and Strategies for Future Raw Material Competition Innovation Drives Green Recycling: the Technological Frontier of China's Flotation, Crushing and Sorting Equipment Breaking Through the Challenges of the Recycling Industry: Real-World Case Studies from High-Quality Suppliers Click to view photo gallery Main Forum Opening Remarks Adam Fan, Chairman, SMM Hao Qi Chairman, KINKI SANGYO CO.LTD. May 11 Main Forum Keynote Speeches [Keynote Speech] - Global Recycled Metals Industry Market Analysis: Policy Instruments, Corporate Responses, and Future Challenges Speaker: Rock Ding, Consulting Project Manager, SMM Rock expects that aluminum scrap production will continue to grow in the future, and global aluminum scrap supply and demand will maintain a tight balance before 2030. Regarding the copper scrap market, SMM expects that from 2026 to 2030, global copper scrap market supply and demand will continue to grow, and the market will remain in a state of persistently tight supply. The global recycling industry faces challenges including shortages of recycled raw materials supply, rising resource protectionism, cross-border logistics and transportation restrictions, lack of unified global governance, bottlenecks in recycling technology, and incomplete recycling system development. [Keynote Speech] - From India to the World: Sustainable Growth and Responsibility of a Leading Recycler Speaker: Sanchit Jain, Executive Director, Jain Resource Recycling Limited Developed markets (North America, Europe) generate over 70% of the world's scrap; North America has a recycling input rate of 57%, and Europe's aluminum recycling rate reaches 81% — yet their demand growth has slowed down, with scrap becoming a surplus resource exported abroad; Developing countries are where demand is surging — yet collection rates remain below 5%, dominated by informal operators lacking traceability; Globally, policies and market initiatives promoting traceability of recycled resources and ESG disclosure are accelerating at an increasing pace. Scrap generation and consumption exhibit a regional mismatch, with the resource gap formed by supply-demand misalignment increasingly demonstrating strategic significance; Scrap is no longer simply surplus off-cuts, but a core strategic resource reshaping the global recycled resource trade landscape. Recycling Has Become a Core Pillar for Industrial Incremental Growth Why Does the Recycling Industry Hold Critical Strategic Value Today? Secondary resource supply can cover over 40% of future incremental metal demand; reducing dependence on highly volatile primary ore resources. Recycling is the optimal viable pathway for the industry to achieve sustainable and scalable development. [Keynote Speech] - URBAN MINING India's Non-Ferrous Recycling Decade Opportunities & Challenges from a Smelter's Perspective speaker: Pratik Gupta, Assistant Vice President - Operations, Pondy Oxides and Chemicals Ltd Four Core Drivers in Resonance, Continuously Driving Steady Expansion of India's Non-Ferrous Metal Demand 1. Energy Transition Acceleration India has set a clear target of achieving 500GW of non-fossil energy installed capacity by 2030. Power grid expansion, power transmission line construction, and renewable energy integration infrastructure are advancing comprehensively—all of which are high-consumption areas for copper and aluminum, directly boosting rigid demand for both metals. 2. Accelerating EV Penetration India has set a development target of 30% new energy vehicle penetration rate by 2030. A single EV uses approximately 3–4 times the amount of copper compared to traditional internal combustion engine vehicles. Meanwhile, the development of the power battery industry will give rise to an independent scrap recycling system, further opening up incremental space for non-ferrous metals. 3. Large-Scale Infrastructure Investment Implementation Leveraging the 11.1 billion rupee National Infrastructure Pipeline plan, projects including galvanized steel, power infrastructure, and urban rail transit will continue to be implemented over the next decade, providing sustained long-term support for zinc, copper, and aluminum market demand. 4. Manufacturing PLI Policy Empowerment India's Production Linked Incentive (PLI) scheme covers 14 key industries, focusing on metal-intensive sectors such as electronics, automotive, power battery, and capital goods. With policy support, the share of domestic manufacturing continues to rise, driving steady growth in non-ferrous metal consumption. Panel Discussion: Reshaping the Global Recycled Metal Market — Policy Drivers and New Hotspots in India, Pakistan, the Middle East & Japan Moderator: Adam Fan, Chairman, SMM Panelists: Sanjeev Phadke, The Treasurer of BMR, Bureau of Middle East Recycling (BMR) Amar Singh, Secretary General, Material Recycling Association of India (MRAI) Bin Zhang, Trade Director, TOUCHI INTERNATIONAL CORP. Jawed Ahmed, Founder and CEO, Al Qaryan International DMCC Recycling Forum Ketnoye Speech: Key Issues and Challenges Affecting the US Secondary Metals Industry Speaker: Adam Shaffer, Vice President of International Trade and Global Affairs, REMA Panel Discussion Shifting Dynamics in Southeast Asia's Recycled Metals: The Malaysia-Thailand Trade Decline and Vietnam's Rising Recycling Economy Moderator: Rock Ding, Consulting Project Manager, SMM Panelists: Eric Tan, President, Malaysia Nonferrous Metals Association Achirawat Thanasethatokul, Managing Director, Mahanakorn Metalscrap Co., Ltd. Jimin Choi, CEO/Founder, ETREE PTE LTD Michelle Leung, Head of Asia Metals and Mining Sustainability, Bloomberg Intelligence [Keynote Speech] - Analysis of Japan's Recycled Copper Market Speaker: AW YONG YI CHEONG, Senior Secondary Copper Analyst, SMM AW YONG YI CHEONG noted that the current Japanese copper scrap market is gradually transitioning toward a highly competitive "seller ecosystem." Trading models that rely solely on spot cargo procurement are increasingly exposed to the risk of supply disruptions. To secure long-term resource supply, enterprises purchasing externally from outside China need to move beyond traditional spot trading mindsets and establish structural cooperative relationships through deep-binding approaches such as signing long-term contracts and equity partnerships, in order to adapt to the persistently tight market landscape. Panel Discussion Resource Contention in the Secondary Lead Market: Redefining the Global Supply Chain Moderator: Rock Ding, Consulting Project Manager, SMM Panelists: Pratik Gupta, Assistant Vice President - Operations, Pondy Oxides and Chemicals Ltd Eric Tan, President, Malaysia Nonferrous Metals Association Panel Discussion Interpreting Recycled Copper Policies in China, the US, Europe, and Japan and Strategies for Future Raw Material Competition Moderator: AW YONG YI CHEONG, Senior Secondary Copper Analyst, SMM Panelists: Allan Zhang, Head of the Recycled Copper Business Unit, Hailiang Group Co., Ltd. Mr. Vishal Jatia, CEO, GREENLAND AMERICA INC WENCESLAO MANZANO HERNANDEZ, Director, DIMEXA HOLDINGS PTE. LTD. Shunsuke Kuwada, Overseas Manager, Hirata Corporation Co.,Ltd Yoshimichi Murakami, Executive Director, Wakoh Metal Co., Ltd. [Keynote Speech] - Current Status of Lead-Acid Battery in Japan Speaker: Yuji Tanamachi, CEO, IRUNIVERSE The volume of lead-acid battery scrap generated in Japan continues to decline. The reason is the sharp decrease in the number of end-of-life vehicles (ELVs) retired in China. Over a decade ago, the number of ELVs generated in Japan exceeded 5 million units, but now it is approximately 2.7 million units, nearly halved. The chart on the right shows the increase in the average service life of passenger vehicles. The significant decline in ELV numbers was mainly driven by two factors: first, continued decline in new car sales in Japan, directly driven by population decline; second, the climbing scale of used car exports. Since the auction model was popularized in Japan a decade ago, not only ordinary used cars but even retired vehicles could be traded through auctions. Logically, a decrease in total ELV numbers should lead to a corresponding reduction in the number of dismantling enterprises. However, the reality was quite the opposite: the number of dismantling enterprises backed by ex-China capital from Iran, Saudi Arabia, Syria, the Kurdish region, and China continued to grow. Award Ceremony SMM Recycled Metals Industry Premium Scrap Yards SMM Recycled Metals Industry Premium Traders SMM Recycled Metals Industry Premium Equipment Enterprises May 12 Renewable Resources Equipment Forum Panel Discussion Innovation Drives Green Recycling: the Technological Frontier of China's Flotation, Crushing and Sorting Equipment Moderator: Bo Zhou, EVP, SMM Panelists: Owen Liang, Deputy General Manager, Foshan GreenField Environmental Protection Machinery Equipment Co., Ltd. Xian Lu, Chairman, Shandong Luyou renewable resources equipment Co., Ltd. Haihua Cheng, International Trade Minister, Jiangsu Huahong Technology Stock Co.,Ltd. [Keynote Speech] - Volatility Eats Margins for Breakfast Managing Risk Now That Tariffs, Geopolitics, And Supply Shocks Have Driven Base Metal Prices to Multi-year Extremes Speaker: Harsha Ramesh, CEO & Co-founder, Pillar Hedge Aluminum—Supply Shock From February to April 2026, aluminum prices surged by over 20% at their peak within just two months, driven by the following key factors: Strait of Hormuz Disruption: Iran conflict closes shipping lanes; approximately 9% of global supply at risk Gulf Production Hit: EGA flagship plant shut down for up to one year; Bahrain's ALBA halted Compounding Tariff Impact: US Midwest premiums widened significantly, tariffs reshaped physical trade flows Keynote Speech: Precision Sorting Green Future Speaker: Jianan Li, Overseas Sale, Zhejiang Tianli Equipment Technology Co., Ltd. [Panel Discussion] - Breaking Through the Challenges of the Recycling Industry: Real-World Case Studies from High-Quality Suppliers Networking among medium-to-large-scale scrap yards/traders Conference Check-in The 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum has now come to a successful conclusion. We sincerely appreciate the strong support from all industry participants and partners. Looking forward to meeting you again next year!

On March 25, the commissioning ceremony for the waste battery material recycling project of Guangzhou Youmei Recycling Technology Co., Ltd. was held in Baiyun, Guangzhou. As Guangzhou's first waste battery material recycling project, its commencement of production will provide a stable supply of recycled resources for the new energy industry in South China and across the nation. It also represents a crucial step for GAC Group in perfecting its green industry chain and responding to the national "dual carbon" strategy.

In recent years, Southeast Asia has emerged as a globally significant hub for the distribution and processing of recycled resources. Concurrently, with the deepening internationalization of industries such as NEVs, to expand overseas resources and enhance global competitiveness, processing enterprises in the secondary copper and aluminum sectors as well as the battery industry have increasingly chosen to establish factories in Thailand and other Southeast Asian countries. So, what are the investment risks in Southeast Asia's secondary metal industry? Thailand's NEV industry has developed rapidly, creating new demand growth points for the secondary metal industry. According to relevant data, Thailand processes over 1 million mt of aluminum scrap and copper scrap annually, with its processing capacity and trade scale being second to none in Southeast Asia. What is the future trend of recycled raw material supply in Thailand's industry chain? In recent years, frequent global geopolitical conflicts, from the wave of mine nationalization in South America to the supply chain restructuring triggered by the Russia-Ukraine conflict, from the scramble for resources in Africa to the escalation of trade barriers in Europe and the U.S., the secondary metal industry is undergoing an unprecedented reshaping of the international trade landscape. So, what are the international trade flows and consumption trends in the secondary metal industry under geopolitical tensions? In this context, on June 12-13, 2025 , SMM will hold the 2025 SMM 2nd Global Secondary Metal Industry Chain Summit Forum in Thailand , inviting Shilong Li, President of the China Innovation Alliance of the Recycled Resources Industry as the moderator, along with Xiangchun Zhou, General Manager of Dazheng Daji Metal (Thailand) Co., Ltd. , Xinghong Qin, General Manager of P.C. WOOD PRODUCTS CO.,LTD , Junbing Zhang, Global Procurement Director of Hailiang Group , and Qingcheng Liu, Deputy General Manager and Director of Thailand-China Nonferrous Metals International Co., Ltd. as guest speakers to participate in the top-tier enterprise interview on secondary metals, jointly discussing: 1. Future trends of recycled raw material supply based on Thailand's industry chain development 2. Investment risks in Southeast Asia's secondary metal industry 3. International trade flows and consumption trends in the secondary metal industry under geopolitical tensions Moderator & Guest Speakers Confirmed Guest Speakers Conference Agenda June 12 Main Agenda ·9:00-12:00 Company Visits ·10:00-12:00 Registration ·10:00-12:00 Networking ·12:00-13:00 Buffet Lunch ·13:30-13:45 Opening Remarks Guest Speakers: Xin Fan, Chairman of SMM Information & Technology Co., Ltd. Shilong Li, President of the China Innovation Alliance of the Recycled Resources Industry ·13:45-14:00 Green Transformation and Sustainable Development Prospects of Thailand's Secondary Metal Industry Guest Speaker: Dr. Somthai Wongcharoen, Secretary General of ASEAN Institution of Recycling (AIR) ·14:00-14:20 Strengthening International Exchange to Promote Green Development of China's Nonferrous Secondary Metals Guest Speaker (Pending): Shilong Li, President of the China Innovation Alliance of the Recycled Resources Industry ·14:20-15:10 Roundtable Forum: Top-Tier Enterprise Interview on Secondary Metals 1. Future Trends in Recycled Raw Material Supply Based on Thailand's Industry Chain Development 2. Investment Risks in Southeast Asia's Recycled Metal Industry 3. International Trade Flows and Consumption Trends in the Recycled Metal Industry Amid Geopolitical Changes Moderator: Li Shilong, President, China Alliance of Technological Innovation in Renewable Resources Industry Guest Speakers: Zhou Xiangchun, General Manager, Daizheng Daji Metal (Thailand) Co., Ltd. Kittipot Thanalertlap, Vice President, Metalcom Ltd. Zhang Junbing, Global Procurement Director, Hailiang Group Co., Ltd. Liu Qingcheng, Deputy General Manager and Director, Thai-China Nonferrous Metals International Co., Ltd. ·15:10-15:25 Tea Break ·15:25-15:40 The Path to Global Recycled Metal Industry Development Driven by ESG Background Guest Speaker (Pending): Xie Xiaoying, Director of Sustainable Development Business, Shanghai Lvran Environmental Information Technology Co., Ltd. ·15:40-16:00 Changes in the Global Supply-Demand Pattern of the Recycled Metal Industry Guest Speaker: Cui Suoye, Director of Nonferrous Consulting, SMM Information & Technology Co., Ltd. ·16:00-16:20 Global Recycled Metal Industry Development Trends and Challenges from a Middle Eastern Perspective Guest Speaker: Sanjeev Phadke, Treasurer and Executive Committee Member, Middle East Recycling Bureau ·16:20-17:10 Roundtable Discussion: Exploring the Global Recycled Metal Market: An In-depth Analysis of Strengths and Challenges in India, the Middle East, Europe, and Southeast Asia Moderator: Fan Xin, Chairman, SMM Information & Technology Co., Ltd. Guest Speakers: Kittipot Thanalertlap, General Manager, Metalcom Ltd. Sanjeev Phadke, Treasurer and Executive Committee Member, Middle East Recycling Bureau WENCESLAO MANZ, Director, DIMEXA HOLDINGS PTE. LTD. Tan Tian, General Manager, Doctor Scrap ·18:30-20:00 Award Ceremony Dinner Award Ceremony Dinner - Awards for High-Quality Material Yards, Trustworthy Traders, and Outstanding Equipment Enterprises June 13 Sub-forum ·Battery Forum· ·9:00-9:25 Strategic Layout of Thailand's Battery Recycling Industry: A Blueprint for the Development of the EV Industry in the Next Five Years Guest Speaker: Dusit, Chairman's Advisor, Ministry of Industry, Thailand ·9:25-10:15 Roundtable Discussion: Southeast Asia's Battery Resource Market: Supply Chain Dynamics Moderator: Fan Xin, Chairman, SMM Information & Technology Co., Ltd. Guest Speakers: Chen Wenkai, Chairman, Malaysia Nonferrous Metals Association Sujin Kim, Global Business Development Director, BatX Energies Zhao Bin, President, Thai-Chinese Rayong Industrial Zone Wu Xiaoyun, Chairman, Japan Koji Industrial Co., Ltd. Shen Juan, Procurement Director, Jingjiu Group ·10:15-10:40 Current Status and Transformation Path of Southeast Asia's Waste Lead-Acid Battery Market Guest Speaker: Wu Xiaoyun, Chairman, Japan Koji Industrial Co., Ltd. ·10:40-11:00 Tea Break ·11:00-11:25 Improving the Battery Recycling System Brought by the Market Growth of Two-Wheeled EVs in Southeast Asia Guest Speaker: Luo Tieying, President, Jinchi Industrial Park ·11:25-11:50 Exploring Africa: Opportunities for Sustainable Expansion and Raw Material Investment Guest Speaker: Yousef Al Sharif, Manager, Sharif Metals Group ·12:00-13:30 Buffet Lunch ·Copper and Aluminum Forum· ·14:00-14:20 New Dynamics in Global Recycled Copper and Aluminum Supply and Demand from a North American Perspective Guest Speaker: Robin Wiener, President, Recycled Materials Association ·14:20-14:40 SMM Serving the Global Recycled Copper and Aluminum Metal Market Guest Speaker: Zhang Xiaoyao, Project Leader of the Recycling Association, SMM Information & Technology Co., Ltd. ·14:40-15:00 Global Recycled Metal Supply-Demand Pattern Development from an Indian Perspective Guest Speaker: Amar Singh, Secretary General, India Recycling Bureau ·15:00-15:20 Building a New Cambodia-China Metal Hub - Inviting You to Co-establish an Overseas Demonstration Industrial Park for Recycled Nonferrous Metal Processing Guest Speaker: Cao Zhuo, General Manager of International Business in the Americas, Cambodia-China Metal Materials Industrial Park ·15:00-15:20 Tea Break ·15:20-16:20 Roundtable Discussion: Recycled Copper and Aluminum Yards: Innovative Recycling and Sorting Technologies Paving the Way for Green Carbon Reduction in the Industry Moderator: Zhou Bo, Executive Vice President, SMM Information & Technology Co., Ltd. Guest Speakers: Liang Jiali, Deputy General Manager, Foshan Lvtian Environmental Protection Machinery Equipment Co., Ltd. Li Zhiqiang, General Manager, Henan Recycling Technology Co., Ltd. Ye Hangyu, Director of Foreign Trade Department, Hefei Anjinglong Electronics Co., Ltd. List of Participating Companies

The document points out that efforts should be made to vigorously develop offshore wind power and hydrogen energy equipment. Taking the Fujian Three Gorges Offshore Wind Power Industrial Park as the main cluster area, efforts will be made to fill in the gaps in the upstream industry chain, such as reinforcing fibers, resins, castings and forgings, and bearings, as well as in the midstream, such as submarine cables, to create a complete industry chain for wind power equipment. Large-power offshore wind power equipment will be developed, and Fuzhou will be built into a national-level offshore wind power detection center and a manufacturing base for wind power equipment along the southeast coast. Relying on the hydrogen energy demonstration circle in the Fuqing Port-Industrial Zone, efforts will be made to promote the integrated development of hydrogen production, storage, refueling, and hydrogen energy equipment, and to advance the large-scale and high-end manufacturing of hydrogen energy equipment across the "entire chain." Actively develop clean energy sources such as hydrogen energy, offshore wind power, and PV power generation. Encourage enterprises and industrial parks to utilize clean energy sources nearby, explore direct supply of green electricity, and support qualified enterprises in constructing captive power plants and power supplies, such as those integrating "PV + ESS." Build a zero-carbon energy supply system, develop the "direct green electricity supply model," establish a multi-energy complementary energy supply system integrating "electricity, heat, cold, gas, and hydrogen," encourage the configuration of new-type energy storage on the user side, enhance the capacity for local grid connection and consumption of new energy, and promote the cascading utilization of energy, the recovery of waste heat and pressure, and green cooling and heating. Encourage qualified enterprises to use renewable energy sources to produce hydrogen and optimize the hydrogen production structure from raw materials for synthetic ammonia. Encourage the lawful and regulated import of recycled raw materials to enhance the supply capacity of recycled resources. Guide and support innovative entities such as local universities, scientific research institutes, and high-tech enterprises to strengthen the R&D of key technologies for low-carbon, zero-carbon, and negative-carbon technologies. Deploy a number of scientific and technological projects in key areas such as large-capacity wind power, high-efficiency PV, high-efficiency ESS, hydrogen production from renewable energy sources, carbon capture, utilization, and storage (CCUS) technologies, and the resourceful utilization of carbon dioxide under mild conditions. Relying on R&D institutions such as the Dongfang Electric Innovation Research Institute, the National Engineering Research Center for Fertilizer Catalysts at Fuzhou University, and the Hydrogen Power Equipment Engineering Research Center of Fujian Province at Snowman Co., Ltd., accelerate the R&D of core equipment components such as proton exchange membrane fuel cells, fuel cell engines, hydrogen circulation pumps, diaphragm compressors for hydrogen refueling stations, high-pressure hydrogen storage pressure vessels, and heat exchangers. Strengthen the construction of platforms for low-carbon technological innovation carriers. Promote the establishment of a low-carbon, zero-carbon, and negative-carbon technological innovation system with enterprises as the mainstay, featuring collaboration among industry, academia, and research, as well as coordination between upstream and downstream sectors. Deepen innovation-driven development, construct multi-level and diversified innovation platforms, accelerate the aggregation of innovative elements such as talents, technologies, and funds, support the construction of a hydrogen energy industry technology and product analysis and detection service platform, and cultivate and establish a number of leading national and provincial key laboratories, engineering research centers, manufacturing innovation centers, and enterprise technology centers in fields such as next-generation information technology, new materials, new energy, NEVs, biomedicine, and marine high-tech, to enhance low-carbon technological innovation capabilities. Green and low-carbon products support the low-carbon development of the transportation sector. We will vigorously promote energy-efficient and new energy vehicles (NEVs), strengthen technological innovation in vehicle integration, and enhance the concentration of the NEV industry. We will encourage enterprises to update and use NEVs, promote the electrification of freight, urban public service, and industrial and mining enterprise internal vehicles, drive enterprises to use electric transport vehicles, carry out the R&D and application of electric heavy-duty trucks and hydrogen fuel cell vehicles, encourage individuals to consume NEVs, and increase the proportion of NEVs. We will accelerate the construction of charging piles and innovation in battery swapping models, and build a convenient, efficient, and moderately advanced charging network system. We will vigorously develop green and intelligent ships, strengthen the R&D of low-carbon and clean energy equipment such as marine hybrid power, LNG power, battery power, ammonia fuel, and hydrogen fuel, promote the renewal and transformation of old inland and coastal ships, and accelerate the development and application of a new generation of green and intelligent ships.

SMM News on May 16: This week, cobalt product prices showed mixed performance. The spot quotes for refined cobalt have slightly recovered. Currently, the DRC has not yet announced relevant policies on cobalt export bans, and it is expected to announce follow-up measures in June. Further attention should be paid to relevant developments in the future. In terms of cobalt salts, the quoting attitudes of cobalt sulphate and cobalt chloride smelters have polarized... SMM has compiled the price changes of cobalt products this week, as detailed below: Refined Cobalt: This week, the spot price of refined cobalt first rose and then fell, with the overall price showing a slight recovery compared to last week. As of May 16, the spot quotes for refined cobalt remained at 235,500-248,600 yuan/mt, with an average price of 242,050 yuan/mt, up 50 yuan/mt or 0.02% from May 9. 》Check SMM cobalt and lithium spot quotes According to SMM, from the supply side, refined cobalt smelters continue to cut production, and the market is still digesting social inventory. From the demand side, orders from downstream producers have not seen significant recovery, and producers continue to maintain a purchasing rhythm of scheduling production according to demand, with no significant inventory-building actions observed downstream. According to the latest news, the DRC has not yet announced relevant policies on cobalt export bans, and it is expected to announce follow-up measures in June. It is expected that next week, the short-term supply and demand situation will remain unchanged, and refined cobalt prices may fluctuate. Cobalt Salts (Cobalt Sulphate and Cobalt Chloride): According to SMM spot quotes, cobalt sulphate spot quotes fell by 150 yuan/mt this week, to 48,400-50,000 yuan/mt, with an average price of 49,200 yuan/mt, down 0.3% from May 9. 》Check SMM cobalt and lithium spot quotes According to SMM, from the supply side, spot quotes for cobalt sulphate from smelters have slightly loosened, and quotes from recycling plants have also declined. From the demand side, downstream precursor producers have weak acceptance of current cobalt sulphate prices and have not yet initiated purchasing actions. Co3O4 enterprises, on the other hand, are dominated by a wait-and-see sentiment, resulting in extremely sluggish spot transactions for cobalt sulphate recently. It is expected that next week, cobalt sulphate spot prices may maintain a fluctuating trend. Cobalt Chloride: According to SMM spot quotes, cobalt chloride spot quotes also failed to escape the downward trend this week. As of May 16, cobalt chloride spot quotes fell to 59,700-61,000 yuan/mt, with an average price of 60,350 yuan/mt, down 50 yuan/mt or 0.08% from May 9. According to SMM, from the supply perspective, due to the unresolved issue of overseas cobalt raw material transportation cycles, smelters remain cautious in their quoting and have hardly engaged in dumping at low prices. From the demand perspective, the purchasing rhythm of downstream Co3O4 enterprises has slowed down, with fewer market inquiries, and spot transactions are mainly for small-batch rigid demand. It is expected that the peak sales season for NEVs in Q3 may drive a rebound in restocking demand from downstream enterprises, and the cobalt chloride market may continue to fluctuate at highs. Industry insiders remain cautious about cost transmission and policy expectations. Co3O4: According to SMM spot quotes, Co3O4 spot prices have been "falling continuously" this week. As of May 16, Co3O4 spot prices dropped to 204,000-212,500 yuan/mt, with an average price of 208,250 yuan/mt, down 1,000 yuan/mt or 0.48% from May 9. According to SMM, despite the high raw material costs due to the export ban in the DRC, excessive domestic inventory has also suppressed the upward momentum of prices, leaving Co3O4 spot prices weak. Downstream demand has not shown significant improvement, and most LCO enterprises are still purchasing as needed. The market inquiry atmosphere is sluggish, with fewer effective transactions, and the overall market is in a wait-and-see phase. The industry is generally waiting for further news to stimulate the market. It is expected that Co3O4 spot prices will continue to fall in the short term. On the news front, according to a report by Reuters cited by MiningWeekly, a study released by the Cobalt Institute on Wednesday forecasts that cobalt demand growth will outpace supply, with the cobalt surplus expected to ease in 2024 and turn into a deficit by the early 2030s. The report was completed by Benchmark Minerals Intelligence. In the short term, the future of the cobalt market will depend on the developments in the DRC, the world's largest cobalt producer. At the end of February, the country decided to implement a four-month temporary export ban, after which cobalt prices have risen by 60% to $16/lb. In addition to the uncertainties brought about by the DRC's export ban, global cobalt supply is expected to grow at an average annual rate of 5% in the coming years. The DRC's share of the global market will decline from 76% last year to 65% by 2030, as Indonesia's cobalt production will rise rapidly, increasing its share from 12% to 22%. Wang Cong, General Manager of Industry Research at SMM, also provided an in-depth analysis of the dynamics of China's cobalt industry chain, global resource competition landscape, and demand trends at the Global Cobalt Forum hosted by the Cobalt Institute in Singapore recently. When mentioning the performance of China's cobalt market after the ban, she noted that the DRC's export ban triggered a rapid increase in cobalt prices, but the domestic industry chain, buffered by sufficient inventory, did not experience a large-scale supply deficit. As prices rebounded, domestic cobalt salt enterprises quickly released capacity, with production increasing on a MoM basis. In addition, the proportion of cobalt sulphate from recycling in China's cobalt sulphate production surged from 10% to 16% within two months, reflecting the rapid response capability of price-sensitive capacity. If the policy on importing lithium battery black mass is further relaxed, the proportion of recycled resources used will increase further. 》Click to view details