As Vietnam accelerates investments in its bauxite, alumina and aluminium sectors, the country is preparing to host its first international event dedicated exclusively to the industry. The 15 th International Bauxite, Alumina and Aluminium Conference & Exhibition ( IBAAS–VFMSTA 2026 ) will take place on October 28–29, 2026 , at the Hanoi University of Science and Technology , bringing together global stakeholders to discuss the future of the aluminium value chain in one of Asia's fastest-growing markets. Jointly organized by the International Bauxite, Alumina & Aluminium Society (IBAAS) and the Vietnam Foundry & Metallurgy Science and Technology Association (VFMSTA) , the conference is expected to become a key platform for technology exchange, business development and international collaboration. The technical programme has already generated considerable interest, with around 50 abstracts submitted by researchers and industry professionals from across the world. The sessions will address topics ranging from bauxite mining and alumina refining to aluminium smelting, downstream manufacturing, recycling, sustainability, digital transformation, critical minerals and next-generation process technologies. The event has also attracted participation from leading international organizations. China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (NFC) , Shanghai Metals Market (SMM) and the Shenyang Aluminium & Magnesium Engineering & Research Institute (SAMI) have confirmed their participation, highlighting the conference's growing international profile. On the exhibition front, PLA Process Analysers (Australia) and JGHECEPT Co., Ltd. (China) are among the early exhibitors that will showcase advanced technologies and engineering solutions for the aluminium industry. With Vietnam possessing one of the world's largest bauxite resources and expanding its alumina, aluminium and critical minerals industries, the conference is expected to create significant opportunities for producers, engineering and EPC companies, equipment manufacturers, technology suppliers, researchers, investors and downstream users. Alongside technical sessions, delegates will benefit from an international exhibition, business networking programmes and industrial visits designed to encourage partnerships and investment. Registrations, sponsorship opportunities, exhibition bookings and technical paper submissions are currently open. Companies/Organizations interested in participating can obtain further information by contacting info@ibaas.info or visiting www.ibaas.info .

Lightweight Intelligent Manufacturing, Green Future — Linking the New Aluminum Journey 2027 The 4th Central China (Zhengzhou) International Aluminum Industry Exhibition Date: October 15-17, 2027 Venue: Zhengzhou International Convention and Exhibition Center I. Introduction The Zhengzhou International Aluminum Industry Exhibition has been successfully held for three editions, with each edition receiving guidance and support from organizations including the Henan Provincial Development and Reform Commission, Henan Provincial Department of Industry and Information Technology, Henan Provincial Department of Commerce, Zhengzhou Municipal Government, China Nonferrous Metals Industry Association (CNIA), Zhengzhou Municipal Bureau of Industry and Information Technology, and Gongyi Municipal Bureau of Industry and Information Technology. The last edition was successfully held from October 15 to 17, 2025 at the Zhengzhou International Convention and Exhibition Center, attracting more than 200 enterprises from China and overseas, and comprehensively showcasing cutting-edge products and innovative solutions across the aluminum industry chain. During the exhibition, a total of six themed forums and 269 supply-demand procurement matchmaking sessions were held, drawing more than 20,000 professional visitors. The 4th Central China (Zhengzhou) International Aluminum Industry Exhibition 2027 (hereinafter referred to as the “Zhengzhou Aluminum Industry Exhibition”) will continue to adhere to the principle of “serving the industry, promoting exchange, and driving transformation” and will be grandly held from October 15 to 17, 2027 at the Zhengzhou International Convention and Exhibition Center. With the theme “Lightweight Intelligent Manufacturing, Green Future — Linking the New Aluminum Journey,” this edition will comprehensively upgrade its content and operation model, focusing on new materials, new equipment, new intelligent manufacturing, and new applications. It will build a three-in-one exhibition system of “premium brand for high-end aluminum applications + full-chain ecological closed loop + distinctive application scenarios,” supplemented by multiple targeted supply-demand networking sessions and high-end seminars to effectively ensure exhibition effectiveness and business conversion. We sincerely invite aluminum processing enterprises, equipment manufacturers, downstream application enterprises, scientific research institutions, and related service providers from China and overseas to gather in Zhengzhou and share new opportunities in the aluminum industry development. II. Organizational Structure Proposed Guidance: China Nonferrous Metals Industry Association (CNIA) Organizer: Henan Nonferrous Metals Industry Association Co-organizer: Henan Xiangyu Exhibition Service Co., Ltd. Henan Dianji Enterprise Management Consulting Co., Ltd. III. Exhibition Content and Innovation Aspects Will Be Comprehensively Upgraded Feature 1: Focusing on New Materials and Lightweighting to Build a “Premium Brand for High-End Aluminum Applications” An “Aluminum Deep Processing Boutique Pavilion” will be set up to deeply interpret the high value-added characteristics of aluminum semis. The exhibition area will systematically present high-end deep-processed products such as NEV aluminum, battery foil, and aluminum for 3C electronics, comprehensively driving the aluminum processing industry to leap from traditional building materials and packaging sectors toward high-tech, high-value-added directions, and highlighting the brand value of aluminum semis in high-end application fields. Feature 2: Building a “Full-Chain Ecological Closed-Loop Zone” to Panoramically Display the Life Cycle of the Aluminum Industry from Mine to Recycling A “Full-Chain Ecological Closed-Loop Zone” will be set up, taking the three dimensions of upstream resource security, secondary aluminum recycling and utilization, and comprehensive recovery of renewable resources as the main line, systematically showcasing the completeness and synergy of the aluminum industry ecosystem and highlighting the green, low-carbon, and recyclable development concept. Upstream aluminum ore enterprises from China and overseas will be invited to hold an aluminum ingot raw material supply-demand networking session. Feature 3: Curating an “Aluminum + NEVs and Robots” Distinctive Application Scenario Exhibition Area Focusing on the two innovative application hotspots of NEVs and robots, it will centrally showcase innovative solutions and typical application results of high-end aluminum plate/sheet, strip and foil in these fields, helping exhibitors accurately meet the demands of emerging industries and expand high-growth market space. IV. Exhibition Content This edition will adopt a “5+1” theme matrix, breaking away from the traditional single raw material zoning model, and set up the following six exhibition zones: (I) Premium Brand Showcase Zone for High-End Aluminum Applications 1. Automotive lightweight aluminum: doors, engine hoods, battery trays, wheel hubs, etc. 2. High-end aluminum foil series: battery foil, double zero foil, PV/semiconductor high-purity aluminum foil, electronic aluminum foil, pharmaceutical packaging foil. 3. Aluminum for aerospace and high-end equipment: ceramic aluminum new materials, mirror aluminum, aviation-grade aluminum plate. 4. Aluminum for 3C electronics and rail transit (mobile phone middle frames, high-speed rail carriage profiles, etc.) (II) Green, Low-Carbon and Secondary Aluminum Zone (Policy Hotspot Zone) 1. Aluminum scrap closed-loop recycling pre-treatment line: high-precision eddy current separators, X-ray sorting systems, integrated crushing and impurity removal equipment 2. High-efficiency regeneration melting and casting equipment: new-type double chamber furnaces, side-well reverberatory furnaces, regenerative combustion systems 3. Environmental protection dust removal systems: baghouse filters, SCR denitrification devices, and dioxin suppression technology 4. “Urban Mine” themed demonstration area: centralized display of secondary aluminum industrial parks (III) Smart Factory and Digital Transformation Zone (Future Trend Zone) 1. Industrial robots (palletizing, welding), intelligent stereoscopic warehouses 2. MES systems, AI quality inspection equipment, digital twin factory solutions (IV) High-End Manufacturing Equipment Zone Melting and casting equipment, extrusion/rolling equipment, surface treatment equipment (anodized, spraying), heat treatment equipment, testing instruments, auxiliary materials, etc. (V) Service and Support Zone Industrial park displays, logistics solutions, nonferrous metals futures / supply chain finance, university scientific research achievements transformation (VI) Aluminum + Distinctive Application Scenario Exhibition Zone (Immersive Experience) 1. NEV, battery parts, robots, and other innovative application displays 2. On-site touch and experience the actual application of aluminum semis in high-end fields V. Concurrent Events During the exhibition, multiple high-standard forums and networking events will be held to help enterprises broaden their horizons and connect with resources: 1. 2027 Central China International Aluminum Processing Innovation and Development Conference 2. 2027 Central China NEV and Robot Innovation Application Development Forum 3. 2027 Central China Aluminum Extrusion Industry Upstream-Downstream Cooperation Summit Forum 4. Aluminum Industry Intelligent Transformation and Digitalization Supply-Demand Networking Session 5. 2027 Secondary Aluminum Industry Chain Development Forum 6. The 2nd Futures-Physical Integration Forum to Boost High-Quality Development of the Aluminum Industry 7. The 1st “Central China Aluminum Valley” Cup – Aluminum Extrusion / Melting and Casting Technical Competition / Simulation Contest (Innovative Event) VI. Comprehensive Promotion to Precisely Invite Visitors (I) Industry media will periodically publish exhibition information: World Aluminum Network, Aluminum Plus Network, Aluminum Road Network, Henan Nonferrous Metals Network, China Nonferrous Metals, Nonferrous Metals Processing, China Nonferrous Metals Industry Technical Service Platform. (II) Online media continuous promotion: publicity and promotion on People’s Daily Online, Baidu, Sina, Toutiao, Douyin, WeChat, etc. (III) Precise database activation: integrating 300,000+ industry data, classified into A/B/C three levels, with one-on-one phone invitations for Category A covering core decision-makers to improve conversion rates. (IV) Embedding into downstream industry conferences: Automotive Engineering Annual Conference, New Energy Battery Lightweighting Seminar, Home Appliance Technology Conference, etc., with on-site delegation for invitations to reach end-use industry procurement and engineers. (V) Targeted invitations to industrial parks: in-depth visits to industry demonstration bases and aluminum material application industry clusters for “one-on-one” visits and distribution of invitation letters. (VI) Key invitations to VIP buyers: sending formal invitation letters to complete vehicles, parts, robot enterprise factories, aerospace enterprises, beer & beverage, packaging, construction, and large dealers, focusing on buyers’ core requirements, providing VIP channels and other value-added services to ensure effective matchmaking at on-site procurement meetings. (VII) Exhibitor customer invitation incentives: exclusive electronic invitation letters, VIP treatment for attending clients, recognition and next-edition discounts for exhibitors, encouraging exhibitors to actively invite customers and expand visitor scale. (VIII) Organization of group professional buyers: cooperating with industry associations and industrial park management committees in Henan and surrounding provinces to organize delegations of aluminum processing enterprises and downstream user enterprises to visit. Free bus transportation will be arranged for industrial parks or units organizing visiting delegations of over 30 people. (IX) Overseas investment attraction based on the Belt and Road Initiative, focusing on inviting aluminum semis purchasers from Central Asia and Southeast Asia as well as internationally renowned equipment manufacturers. Welcome to inquire at 13903820977 (same as WeChat)

According to a March 23 report by The New York Times, Iranian and Iraqi officials stated that Iran rejected a cease-fire proposal delivered by US President Trump through Iraqi Prime Minister Zaydi that day. The mediation effort came as Trump threatened to resume large-scale military operations against Iran. The report indicated that these anonymous officials said Zaydi met with Trump at the White House before visiting Iran, but the details of the cease-fire proposal conveyed through him remain unclear. Iranian officials stated that this is the only cease-fire plan currently on the table, but the Iranian government has no interest in a temporary agreement that would sideline the issue of control over the Strait of Hormuz. The report quoted Iranian Foreign Minister Araghchi as saying that Zaydi shared "views and impressions" from his trip to Washington, but that there are already enough mediators between Iran and the US, and "the problem is not about delivering messages. The problem is that the US attitude is illogical, greedy, and domineering."

July 22, 2026 On 22 July 2026, silver trades at around $59 per ounce – barely half of its all-time high of $121.62 set in January. To many investors, that looks like a failed rally. A closer look at the structural deficit, the gold-silver ratio and analyst targets suggests a very different reading. The silver market has just been through one of the wildest rides in its recent history. In January, the price surged to an unprecedented $121.62, carried by the euphoria of the broader precious-metals bull market. A sharp correction of roughly 52% followed. Today the price hovers around the $59 mark – while gold simultaneously breaks out above $4,100. The decisive question for the second half of the year is this: was the run to more than $120 a speculative overshoot that is now normalising? Or is the consolidation at $59 the base from which the next leg higher begins? The fundamentals speak a remarkably clear language. From $121 to $59 – what actually happened To put the current situation in context, it is worth revisiting what triggered the correction. Three factors worked together: a deeply divided U.S. central-bank committee that put further rate hikes back on the table; a hot May inflation print of 4.2%, which reinforced that restrictive expectation; and silver's high industrial share, which makes the metal more sensitive to growth worries than gold. One point is easily obscured by short-term price action: none of these three triggers changed the underlying supply-and-demand picture. The correction was largely price- and sentiment-driven – not the result of a deteriorating fundamental backdrop. A signal of how resilient this thesis is came with the June inflation report, which showed the largest monthly decline since April 2020. Silver responded with a jump on the very same day. It is exactly this mechanism – easing rate pressure meeting a tight physical market – that is likely to shape the rest of the year. The structural deficit: sixth consecutive year The most important reason not to mistake this correction for the end of the bull market lies on the supply side. 2026 is on track to become the sixth consecutive year of a global silver deficit. The projected shortfall of around 46.3 million ounces exceeds the 40.3-million-ounce gap recorded in 2025. In other words, the deficit is widening, not closing. This scarcity is structural and cannot be fixed quickly. Roughly 70% of silver is produced as a byproduct of lead, zinc, copper and gold mining. That means even materially higher silver prices do not automatically translate into more output, because production hinges on the economics of the base-metal mines. Add to that declining ore grades at established primary silver mines. Every additional deficit year draws down above-ground stockpiles – and those are finite. The demand story: solar, AI and electrification While supply remains sluggish, demand keeps growing from the industrial side. More than half of silver demand comes from industrial applications – a share that makes silver both a precious and an industrial metal at the same time. The drivers are well known and structural: photovoltaics remains a key consumer, even as some solar segments have softened recently. Increasingly stepping in are data centres for artificial intelligence, electronics for electric vehicles and other electrification applications. This demand base is largely decoupled from day-to-day headlines – it keeps running regardless of what central banks decide in the short term. The gold-silver ratio as a signal A classic valuation tool underscores silver's relative appeal versus gold. The gold-silver ratio – the number of silver ounces needed to buy one ounce of gold – currently sits at around 69:1. The 50-year long-term average ranges between 60:1 and 70:1. At roughly 69:1, the ratio sits at the upper, historically favourable end of that range for silver. In the past, such a level has repeatedly preceded a phase in which silver outperformed gold. If gold keeps breaking out – as it is now, above $4,100 – history often shows silver following with a lag, but frequently with greater leverage. What the analysts expect Notably, despite the 52% correction, none of the major institutions has cut its full-year average forecast below the current price level. The market is treating the pullback as a cyclical pause, not a break in the thesis. J.P. Morgan expects an average price of around $81 per ounce in 2026 – more than double the previous year's average. HSBC recently upgraded its outlook and sees a yearly average near $75. Goldman Sachs points to silver's proximity to electrification and renewable energy; some analysts see prices in the $85 to $100 range, provided industrial demand stays robust. All of these targets sit well above today's $59 – an indication of just how wide the gap is between the current quote and mid-term expectations. The risks – a realistic view For all its structural strength, silver remains one of the most volatile precious metals of all. Its high industrial share is both an opportunity and a risk: if worries about a global slowdown intensify, silver gets hit harder than gold. Monetary policy is another wildcard. Should the U.S. central bank strike a more restrictive tone at its 29 July meeting – or even signal a rate hike – that would likely weigh on prices in the short term. Technically, the zone between $56 and $58 is seen as important support. On the upside, the $65 mark and then the hurdles at $68 and $76 need to be cleared before one can speak of a sustained recovery. Bottom line: consolidation, not a broken trend Anyone looking only at the price chart sees a failed rally in silver. Anyone who adds the fundamentals sees the opposite: a widening supply deficit in its sixth consecutive year, a broad industrial demand base around solar, AI and electrification, a gold-silver ratio at historically favourable levels for silver, and analyst targets that consistently sit above today's price. That does not make $59 a guarantee of rising prices – silver stays prone to sharp swings. But it shifts the perspective: the correction from $121 to $59 looks less like the end of a story than the starting point for its next chapter. Gold's breakout above $4,100 could well be the spark that turns attention back to the smaller, higher-beta precious metal. Source: https://goldinvest.de/en/silver-price-2026-correction-setup

Recently, Risen Energy welcomed visiting delegations of clients from Belgium, Spain, and Myanmar. Company representatives engaged in in-depth discussions with clients from each country on deepening cooperation and advancing project implementation. These negotiations further consolidated the strategic cooperative relationship with the Belgian client, while also uncovering cooperation potential with the Spanish and Myanmar clients in the new energy sector, laying a solid foundation for expanding the company’s business in markets outside China.

[Bullish and Bearish Factors Intertwined — Aluminum Prices Maintain LME Outperforms SHFE with Volatile Trend in the Short Term] On the fundamentals side, the supply gap outside China and low inventory continued to provide bottom support, but elevated inventory levels in China remained the core factor suppressing significant price rallies. In addition, weak trading performance in the spot market further limited the upside room for aluminum prices. Aluminum prices are expected to continue the pattern of LME outperforming SHFE and fluctuate at highs in the short term.