Effective March 17, 2026, SMM will officially launch the following two new price points: "SMM Battery-Grade Lithium Carbonate (CIF South Korea)" and "SMM Battery-Grade Lithium Hydroxide (CIF South Kor

SMM will launch two new price points for Indonesia 316L stainless steel, "Indonesia 316L/NO.1 Coil Mill Edge" and "Indonesia 316L/2B Coil Mill Edge," effective March 13, 2026.

With the development of the scrap metal industry, companies are paying increasing attention to scrap aluminum varieties and price points. To meet market demands and provide more comprehensive spot price information, SMM, after extensive market research and preliminary communication, plans to launch an optimized Malaysian scrap aluminum price point on October 13, 2025: - Tense Scrap Malaysia (Mixed Aluminium Castings) Introduction to the new SMM Malaysian scrap aluminum price points: SMM, taking into account the import-export and local demand characteristics of Malaysian end-users across different application scenarios, and based on overseas policies and market changes, has revised the Malaysian scrap aluminum price points. The specific details are as follows: ​ ​Adjustment 1:​ ​ Addition of Tense Scrap Malaysia (Mixed Aluminium Castings) . This price point will replace the existing Shredded Mixed Aluminum Castings (Tense) Scrap in Malaysia, FOB. - Updated price point name and definition: ​ ​Malaysia Scrap Aluminum Mixed Aluminum Castings (Tense) , EXWorks, excluding VAT, USD/tonne. - Reason: The new price point better aligns with the local scrap aluminum market conditions under updated Malaysian policies, thereby more accurately reflecting market prices. - Launch date: October 13, 2025 - Update frequency: The new price point will be updated before 12:00 PM on the first working day of each week (Kuala Lumpur time). ​ ​Adjustment 2:​ ​ Discontinuation of Shredded Mixed Aluminum Castings (Tense) Scrap in Malaysia, FOB . - Discontinuation date: October 10, 2025 We welcome more companies from both upstream and downstream industries to participate and support SMM in better serving the new energy industry chain. If you have any questions, please feel free to contact Liu Xiaolei at (+86)15021973263 or Chin Khai Yuen at (+60)124247012, or email adrian.chin@smm.cn.

In recent years, with the steady development of Malaysia's manufacturing and stainless steel processing industries, the local stainless steel scrap recycling system has become increasingly mature. The number of recyclers, sorting facilities, and reprocessing enterprises has grown significantly, and the proportion of locally recycled scrap in the circular economy continues to rise, providing strong support for regional stainless steel raw material supply. Meanwhile, Malaysia has become one of the main sources of stainless steel scrap imported by India. According to trade statistics, Malaysia exported approximately 107,000 tons of stainless steel scrap to India in 2024, reflecting strong linkage between the two countries in raw material recycling. Large domestic recycling and processing enterprises possess advanced sorting and reprocessing capabilities, enabling them to classify and process regional scrap and steadily supply high-quality materials to major Asian stainless steel producers in Japan, South Korea, and elsewhere. Against the backdrop of a diversified regional raw material structure and growing value of recycled resources, Malaysia's domestic ex-works stainless steel scrap prices have become an important reference indicator for the Southeast Asian stainless steel industry. To meet market demand, enhance price transparency, and help industry participants stay informed of regional price trends, SMM announces that effective October 30, 2025 , it will officially launch: Malaysia 304 SS Scrap,Ex-works Malaysia,USD/tonne Price specifications: Description: Malaysia 304 SS Scrap,Ex-works Malaysia,USD/tonne Quality: Commercial practice standard. Approx. Ni 8%, Cr 18%, non-magnetic, clean scrap, free from oil, coating, and visible impurities. No radioactive or hazardous waste. Definition: Ex-works Malaysia Unit: USD/tonne Quantity: Minimum 10 tonnes Timing: Prompt Publication: 11:30 a.m. Kuala Lumpur time Payment Terms: Cash on same day，other payment terms normalized SMM Nickel & Stainless Steel Industry Research Department October 29, 2025

To better serve industrial clients and stay closer to the market, SMM is adding 6 new scrap copper price assessments for Japan/US regions, officially launching on 16/1/2026. 1. New Price Points Copper Scrap - East Asia - Japan Millberry CIF China - Japan Millberry CIF China Taiwan - Japan Millberry CIF Korea Copper Scrap - America - United States Millberry CIF Japan - United States No.1 Copper Material CIF Japan - United States No.2 Copper Material CIF Japan 2. SMM Price Methodology General Principles Shanghai Metals Market (hereinafter referred to as "SMM") is a completely independent third-party service provider that does not participate in any actual transactions. Instead, SMM maintains close communication with buyers and sellers as a market observer or organizer and provides related services to the market. This document sets forth the standards for SMM's East Asia and US scrap copper price assessments. The purpose of establishing these standards is to create a transparent and verifiable SMM price formation mechanism. 3. Formation of SMM East Asia and US Scrap Copper Price Assessments 3.1 Significance of the Assessments In recent years, Japan and the United States have continued to play important roles in the global scrap copper trading system. Their export prices for berry copper and copper scrap hold strong reference value for major Asian consumer markets. Due to differences in origin quality structure, trade flows, and regional demand, actual transaction prices vary across different destinations. To more accurately reflect the true price levels of Japanese and US scrap copper in cross-regional circulation, reduce information asymmetry risks, and help upstream and downstream enterprises more reasonably evaluate procurement costs and formulate trading strategies, SMM plans to add price points including Japan Berry Copper CIF China, Japan Berry Copper CIF South Korea, Japan Berry Copper CIF Taiwan China, US Berry Copper CIF Japan, US No.1 Copper CIF Japan, and US No.2 Copper CIF Japan. These will be collected according to a unified methodology and publicly released to the market for industry reference. SMM price members will be able to access relevant historical price data simultaneously. 3.2 SMM East Asia and US Scrap Copper Price Assessment Methodology 3.2.1 Product Specifications and Standards Currently, scrap copper reference standards follow ISRI standards. If changes occur, SMM will revise accordingly based on actual circumstances. 3.2.2 Price Terms Prices are CIF indicative prices, expressed as a coefficient (%) unit. 3.2.3 Payment Terms Prices reflect payment conditions including TT or other conventional payment methods. 3.2.4 Quote Format and Timing Quoted prices are in range format, showing minimum and maximum prices. For example: Japan Millberry CIF China: 97.5%-98%. New price points will be assessed weekly. SMM will publish prices on the website front page at 3:30 PM on the last day of each working week. 3.2.5 Data Collection Method According to the data collection confirmation agreement, SMM price analysts will regularly collect price information from scrap copper industry contacts in Japan through telephone, WeChat, email, and other methods. This price information includes completed transaction prices and the most likely anticipated transaction prices expected by the enterprise. All instant messaging content and any face-to-face communication records will be archived telephone communication details will be recorded and entered into the database. SMM analysts must comply with the Compliance System when reporting to their supervisors any coerced or threatened communications from market participants, or any inducements attempting to influence assessments. After price publication, SMM will not make corrections or adjustments on that day. 3.2.6 Data Standardization Although SMM has standardized definitions for our prices, market transactions exist in various forms. Each transaction price is influenced by numerous factors, including order size, material brand, delivery time, payment terms, etc. SMM will comprehensively consider market quotes, bids, and transaction information and align them with our standards. We welcome more relevant enterprises along the industry chain to participate in and support SMM in better serving scrap copper industry-related enterprises. For any questions, please contact us. Shanghai Metal Market Copper Department - Aw Yong Yi Cheong Contact: +6011-25798397 Email add: awyong.yicheong@smm.cn

Dear Valued Client, To keep pace with the rapid development of the secondary copper industry and meet the market's need for in-depth analysis of the recycling industry and the supply-demand pattern of copper cathode, our company has conducted a deep optimization of our data models. We are now systematically upgrading and adjusting the standards and content of monthly supply-demand balance data related to China's copper scrap, with the following treatment applied to historical data: I. Adjustments Made The following data points have been newly launched: "Copper Scrap New and Old Scrap Production: Domestic Old Scrap: Annual", "Copper Scrap New and Old Scrap Production: Domestic New Scrap: Annual", "Copper Scrap New and Old Scrap Production: Domestic Copper Scrap: Annual", "Copper Scrap New and Old Scrap Production: Domestic Old Scrap - Forecast: Annual", "Copper Scrap New and Old Scrap Production: Domestic New Scrap - Forecast: Annual", and "Copper Scrap New and Old Scrap Production: Domestic Copper Scrap - Forecast: Annual"—a total of six new data points. (Access path for new data: Database - Copper - Copper Scrap - Production - Domestic Copper Scrap Production) II. Historical Data Processing The following four historical data series will cease to be updated starting from December 2025: "Domestic Copper Scrap Supply (Metal Content), ID: a10031747", "SMM Domestic Copper Scrap Supply: YoY, ID: a10031748", "Domestic Copper Scrap Supply (Metal Content) - Forecast, ID: a12731971", and "SMM Domestic Copper Scrap Supply YoY - Forecast, ID: a12731972". Going forward, the new standards will be uniformly applied for data releases, with the revised data traceable back to 2020. Should you have any questions, please feel free to contact the SMM customer service team at any time. Thank you for your continued support and trust! III. Effective Date February 1, 2026 SMM Information & Technology Co., Ltd. SMM Copper Research Team Liang Kaihui, 86-21-5159-5826 January 22, 2026

Dear Users: To ensure the consistency of data with the source and respond to customer feedback, we have expanded the unit of Lead-related import and export data in the non-ferrous metals database to the smallest level. Core change: Units such as "mt" has been changed to "kg". The specific matters are hereby announced as follows: I. Reasons for Adjustment Due to the need for country-specific breakdown of imports and exports, the unit has been adjusted to the smallest value To better serve customers, SMM has expanded the important Lead-related import and export data to include all countries, which has made it impossible for the previously set units of "mt" to match the data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Content III. Effective Date of Adjustment This adjustment will take effect on August 5, 2025 SMM August 3, 2025

Dear Users: To ensure the consistency of data with the source and respond to customer feedback, we have expanded the unit of copper-related import and export data in the non-ferrous metals database to the smallest level. Core change: Units such as "10,000 mt" and "mt" have been changed to "kg". The specific matters are hereby announced as follows: I. Reasons for Adjustment Due to the need for country-specific breakdown of imports and exports, the unit has been adjusted to the smallest value To better serve customers, SMM has expanded the important copper-related import and export data to include all countries, which has made it impossible for the previously set units of "mt" and "10,000 mt" to match the data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Content III. Effective Date of Adjustment This adjustment will take effect on August 5, 2025 SMM August 1, 2025

Dear Users: Hello: To ensure data consistency with the source and respond to customer feedback, we have expanded the unit of zinc-related import and export data in the non-ferrous metals database to the smallest level. Core changes: Units such as "10,000 mt" and "mt" have been changed to "kg". The specific details are announced as follows: I. Reasons for Adjustment Due to the need for country-specific breakdown of imports and exports, the unit has been adjusted to the smallest value To better serve customers, SMM has expanded the import and export data related to the zinc industry chain to include all countries. This will result in the previously set units such as "mt" and "10,000 mt" being unable to match data from all countries. Therefore, SMM has changed the unit to the smallest value. II. Adjustment Details III. Effective Date of Adjustment This adjustment will take effect on August 8, 2025 SMM (Shanghai Metals Market) August 4, 2025

With the development of the scrap metal industry, companies are paying more attention to scrap aluminum varieties and price points across different geographical regions. To meet market demands and provide more comprehensive spot price information, SMM, after extensive market research and preliminary communication, have launched the following price points for local scrap metal prices in Malaysia and Thailand on November 3, 2025: Malaysian Aluminium Scrap – Talon (Aluminium Wire and Cable) Malaysian Aluminium Scrap – UBC (Used Beverage Cans) Thai Aluminium Scrap – Talon (Aluminium Wire and Cable) Thai Aluminium Scrap – UBC (Used Beverage Cans) Introduction to the new SMM Malaysian scrap aluminum price points: SMM, taking into account the local and international demand for overseas aluminium scrap prices primarily in Southeast Asia, and based on overseas policies and market changes, has decided to launch several price points in reflection of the Southeast Asian aluminium scrap markets and trade. The specific details are as follows: Price Point 1: Addition of Malaysian Aluminium Scrap – Talon (Aluminium Wire and Cable) Name and Definition : Malaysian Aluminium Scrap – Talon (Aluminium Wire and Cable), ExWorks Malaysia, including VAT, MYR/tonne Launch Date : November 3, 2025 (Launched) Updated Frequency : The new price point will be updated before 12:00 PM on the first working day of each week (Kuala Lumpur time) Price Point 2: Addition of Malaysian Aluminium Scrap – UBC (Used Beverage Cans) Name and Definition : Malaysian Aluminium Scrap – UBC (Used Beverage Cans), ExWorks Malaysia, including VAT, MYR/tonne Launch Date : November 3, 2025 (Launched) Updated Frequency : The new price point will be updated before 12:00 PM on the first working day of each week (Kuala Lumpur time) Price Point 3: Addition of Thai Aluminium Scrap – Talon (Aluminium Wire and Cable) Name and Definition : Thai Aluminium Scrap – Talon (Aluminium Wire and Cable), ExWorks Thailand, including VAT, THB/tonne Launch Date : November 3, 2025 (Launced) Updated Frequency : The new price point will be updated before 12:00 PM on the first working day of each week (Kuala Lumpur time) Price Point 4: Addition of Thai Aluminium Scrap – UBC (Used Beverage Cans) Name and Definition : Thai Aluminium Scrap – UBC (Used Beverage Cans), ExWorks Thailand, including VAT, THB/tonne Launch Date : November 3, 2025 (Launched) Updated Frequency : The new price point will be updated before 12:00 PM on the first working day of each week (Kuala Lumpur time) We welcome more companies from both upstream and downstream industries to participate and support SMM in better serving the new energy industry chain. If you have any questions, please feel free to contact Liu Xiaolei at (+86)15021973263 or Chin Khai Yuen at (+60)124247012, or email adrian.chin@metal.com.