Bangladesh has announced a major policy package to accelerate solar development, including a 0% tax rate for the solar sector until 2035 and a 5% tax rebate on consumers’ solar electricity bill payments. The government will also reduce import duty, regulatory duty, supplementary duty and advance tax to 0% on key solar components, including inverters, lithium cells, lithium-ion batteries, PV modules, mounting structures, BESS, battery management systems, solar DC cables and battery thermal management systems. The policy aims to attract investment and support Bangladesh’s target of meeting 20% of electricity demand from renewables by 2030 and 30%-50% from clean energy by 2050. SMM believes lower taxes and equipment import costs will support utility-scale and distributed solar development, while improving the attractiveness of local renewable energy equipment manufacturing.

SMM Morning Meeting Minutes: Overnight, LME copper opened at $13,744/mt, dipped to $13,725/mt shortly after the opening, then its price center fluctuated upward to touch $13,822.5/mt, followed by wild swings and finally closed at $13,796.5/mt, up 0.61%. Trading volume reached 16,600 lots, open interest stood at 263,000 lots, a decrease of 3,509 lots from the previous trading day, manifested as bearish position reduction. Overnight, the most-traded SHFE copper 2607 contract opened at 105,490 yuan/mt, hitting a high of 105,700 yuan/mt right after the opening, then its price center fluctuated downward all the way, touching a low of 105,060 yuan/mt near the end of trading, and finally closed at 105,210 yuan/mt, down 0.14%. Trading volume reached 25,000 lots, open interest stood at 147,000 lots, a decrease of 1,715 lots from the previous trading day, manifested as bullish position reduction.

Bangladesh has announced a major policy package to accelerate solar development, including a 0% tax rate for the solar sector until 2035 and a 5% tax rebate on payments made against consumers’ solar electricity bills. The government will also reduce import duty, regulatory duty, supplementary duty and advance tax to 0% on key solar components, including inverters, lithium cells, batteries, PV modules, mounting structures, BESS, battery management systems, solar DC cables and thermal management systems. The policy aims to attract investment and support Bangladesh’s target of meeting 20% of electricity demand from renewables by 2030 and 30%-50% from clean energy by 2050.

[SMM Steel] Quang Ngai Province and VNSTEEL held discussions on potential steel investment projects in the Dung Quat Economic Zone. Provincial authorities highlighted Dung Quat’s advantages, including its deep-water port infrastructure and established steel industry ecosystem, while indicating readiness to allocate around 15 hectares of land for projects with annual capacities of 500,000-1 million tonnes. The province also pledged support through tax incentives, land policies, and streamlined administrative procedures to attract steel investments and strengthen Vietnam’s steel supply chain.

Toyota Motor Corporation has decided to halt the development of its next-generation battery electric vehicles, specifically targeting a sedan model for its luxury brand Lexus that was originally planned to commence production in mid-2027. This vehicle, featuring fast-charging capabilities and longer cruising range, was showcased at the Japan Mobility Show in October 2023. Initially planned for market launch in 2026, its production start was later postponed to 2027. Over the past year, Toyota's global electric vehicle sales exceeded 190,000 units, a year-on-year increase of 42.4%. However, the decision by the Trump administration in the US to eliminate tax incentives for electric vehicle purchases has created adverse market conditions.

Dynaciate’s headquarters and manufacturing facilities are located in the Pasir Gudang Industrial Area of Johor Bahru, Malaysia, covering about 36,000 square meters. The site includes eight production buildings dedicated to stainless steel and carbon steel fabrication. TECO added that the facility is also eligible for export tax incentives that could support future global supply chain deployment.