Only 15 days remain until the opening of the 14th Energy Storage International Summit and Exhibition, ESIE 2026! New business models, new products, and new technologies in the global energy storage industry will be showcased in a concentrated manner on the ESIE 2026 platform! The countdown has begun, and the world’s largest, highest-level, and most influential gathering of ideas and technologies in the global energy storage industry is about to open! ●Exhibition Dates: April 1–April 3 ●Summit Dates: March 31–April 3 ●Venue: Beijing · Capital International Exhibition & Convention Center Scan the QR code above for free exhibition admission Six themed exhibition halls, over 160,000 m² of exhibition space, 800+ exhibitors/sponsors—the full detailed floor plan for all halls of ESIE 2026 is officially unveiled! Save and bookmark it to locate the brands and exhibition areas you are interested in! Detailed forum schedules have been released: Cutting-Edge Technology Led by 9 academicians! Detailed agenda for the 9th Energy Storage Frontier Technology Conference released Mechanism Innovation Detailed agenda released | ESIE 2026 Themed Forum: New-Type Energy Storage and the Electricity Market Detailed agenda released | Regional Characteristic Market Forum, Generation-Grid-Load-Storage and Green Electricity Direct-Connection Integration Forum Market-Driven Growth Detailed agenda released | ESIE 2026 Themed Forum: Development and Operation of Standalone ESS Projects Detailed agenda released | ESIE 2026 Themed Forum: Coordinated Development of Energy Storage + AIDC Detailed agenda released | ESIE 2026 Themed Forum: Energy Storage + New Business Models and New Development Global Perspective Detailed agenda released | ESIE 2026 Themed Forum: Development and Trends in the Global Energy Storage Market A Barometer of the Development of China’s Energy Storage Industry The 14th Energy Storage International Summit and Exhibition ESIE 2026 Exhibition Dates: April 1, 2026–April 3, 2026 Summit Dates: March 31, 2026–April 3, 2026 Venue: Beijing · Capital International Exhibition & Convention Center

The US Fed kept interest rates unchanged, and platinum prices fell sharply today. In early trading, the most-traded platinum contract PT2606 on GFEX closed at 527.25 yuan/g, down 3.96. Spot side, spot platinum was quoted at discounts of 7-9 yuan/g against PT2606, or at discounts of 2 yuan/g to parity against the SGE sell-1 price, with spot discounts continuing to narrow slightly from the previous trading day. In terms of spot transactions, SMM learned that some cargo-holding traders actively offered quotes and reported relatively many inquiries. Downstream buyers negotiated purchases on price dips, while some enterprises said they had no plans for large-scale stockpiling for the time being due to the market's overall fear of further declines. Overall transactions in the spot market improved.

SMM Nickel News, March 19: Macro and Market News: (1) The US Fed kept interest rates unchanged at 3.5%-3.75%, while Governor Milan believed rates should be cut by 25 basis points. The impact of developments in the Middle East on the US economy remained uncertain. The dot plot maintained expectations for one interest rate cut in each of the next two years, but the distribution turned more hawkish. Market bets on the US Fed's rate cuts for the full year were reduced from about 20 basis points to less than 11 basis points. (2) Powell believed interest rates were at the high end of the neutral range, or slightly restrictive, leaving policy in a favorable position, and said the current situation was not stagflation. This energy supply disruption was a one-off event. Regarding whether he would remain in office, Powell stressed that he would not leave before the investigation concluded, and might not leave even after it concluded. If no successor was confirmed, he would continue to serve as acting chair. Spot Market: On March 19, the SMM price of #1 refined nickel fell by 3,100 yuan/mt from the previous trading day. In terms of spot premiums, the average price of Jinchuan #1 refined nickel was 6,750 yuan/mt, up 200 yuan/mt from the previous trading day; mainstream electrodeposited nickel brands in China were quoted at -300-400 yuan/mt. Futures Market: The most-traded SHFE nickel contract (2605) plunged sharply during the session and closed the morning session at 131,760 yuan/mt, down 2.79%. Tensions in the Middle East remained elevated, and the escalating conflict between Iran and Israel triggered market concerns over rising energy prices, intensifying inflation, and economic slowdown. Safe-haven sentiment heated up. Combined with the US Fed keeping interest rates unchanged while raising inflation expectations, expectations for interest rate cuts were revised down, causing metal prices to fall sharply across the board. Pressure from the macro perspective may continue to dominate market sentiment, and nickel prices are expected to remain in the doldrums.

Today, spot #1 copper cathode in North China was quoted at a discount of 40 yuan/mt to a premium of 40 yuan/mt against the front-month contract, with the average premium/discount at parity, up 60 yuan/mt from the previous trading day. The average transaction price was 95,645 yuan/mt, down 3,375 yuan/mt from the previous trading day.

[SMM Titanium Spot Flash: Imported Titanium Ore Market Remained Under Pressure, Sluggish Port Sales Forced Traders to Cut Prices for Shipments] SMM News, March 19: Imported titanium ore prices remained under pressure today. Quotations for Mozambique-origin titanium concentrate with TiO₂≥46% were 1,670-1,730 yuan/mt, down 30 yuan from yesterday; quotations for Nigeria-origin titanium concentrate with TiO₂≥50% were 1,780-1,830 yuan/mt, down 25 yuan from yesterday; quotations for Australia-origin titanium concentrate with TiO₂≥50% were 1,830-1,880 yuan/mt, down 25 yuan from yesterday.

[SMM Cast Aluminum Alloy Morning Comment: Overnight Aluminum Futures Closed Lower, Spot Cargo Under Short-Term Pressure] On Wednesday, the ADC12 market generally showed a downward trend, with mainstream producers broadly lowering quotes by 100 yuan/mt. This price adjustment was mainly driven by the pullback in aluminum prices, which weakened cost support. Enterprises accordingly adjusted their quotes in line with market changes, but the overall magnitude of the adjustment remained relatively restrained, indicating a rather cautious market sentiment.