【SMM Steel】Egypt introduced final safeguard measures on imported flat steel, effective Apr 2, 2026, following an 116% surge in HR imports and 86% jump in CR/galvanized/color-coated steel (2021-2024). Duties decrease annually over three years. Year 1: HR 13.6% (min $76/t), CR 13.7% (min $83/t), galvanized 14.0% (min $93/t), color-coated 14.5% (min $122/t). Rates drop in years 2 & 3.

From January to February 2026, China's air conditioner production reached 40.118 million units, up 0.7% YoY. From January to February, national refrigerator production reached 16.643 million units, up 6.5% YoY. From January to February, national washing machine production reached 18.579 million units, down 0.8% YoY. From January to February, national color TV production reached 24.678 million units, up 2.3% YoY. In February 2026, China exported 6.84 million air conditioners, up 1.2% YoY; cumulative exports from January to February totaled 13.15 million units, down 6.5% YoY. Refrigerator exports reached 6.93 million units in February, up 26.6% YoY; cumulative exports from January to February totaled 14.91 million units, up 18.6% YoY. Washing machine exports reached 2.7 million units in February, up 18.1% YoY; cumulative exports from January to February totaled 6.1 million units, up 11.8% YoY. LCD TV exports reached 8.53 million units in February, up 34.4% YoY; cumulative exports from January to February totaled 17.69 million units, up 17.2% YoY.

In April 2026, Shougang Group adjusted the prices of some steel products based on the "Shougang Steel Products Sales Price Policy for March 2026" as follows: 1. The base price of HRC was raised by 200 yuan/mt. 2. The base price of pickled coils was raised by 200 yuan/mt. 3. The base price of cold-rolled coils was raised by 200 yuan/mt. 4. The base price of hot-dip galvanized sheet was raised by 200 yuan/mt. 5. The base price of aluminum-zinc coated and high-aluminum zinc-aluminum-magnesium coils was raised by 200 yuan/mt. 6. The base price of color-coated sheet was raised by 200 yuan/mt. 7. The base price of medium-aluminum zinc-aluminum-magnesium products was raised by 200 yuan/mt. 8. The base price of medium-thickness plates was raised by 200 yuan/mt. 9. Silicon steel: the base price of non-oriented silicon steel was raised by 200 yuan/mt, while the base price of grain-oriented silicon steel remained unchanged. All the above adjustments are tax-exclusive prices. The adjustments take effect from the date of issuance, and the right of interpretation belongs to the Marketing Center of Shougang Co., Ltd. This is hereby announced.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,724.5/mt. In early trading, it fluctuated upward to a high of $12,829.5/mt, after which the center of copper prices shifted straight downward to a low of $12,721/mt. It then fluctuated upward in a pullback and finally closed at $12,780/mt, down 1.07%. Trading volume reached 17,000 lots, and open interest stood at 293,000 lots, down 8,255 lots from the previous trading day, mainly due to longs reducing positions. Overnight, the most-traded SHFE copper 2604 contract opened at 99,120 yuan/mt. In early trading, it rose to 99,530 yuan/mt, then fluctuated downward all the way to a low of 98,900 yuan/mt. Afterwards, the center of copper prices moved upward and finally closed at 99,140 yuan/mt, down 0.92%. Trading volume reached 27,700 lots, and open interest stood at 177,000 lots, down 1,993 lots from the previous trading day, mainly due to longs reducing positions.

[Information on Angang and Bensteel Group's Product Price Policy Adjustments for April 2026] Angang's product price policy for April 2026 was adjusted as follows based on the product price policy for March 2026: 1. Hot-rolled: raised by 200 yuan/mt. 2. Pickling: raised by 200 yuan/mt. 3. Cold-rolled: raised by 200 yuan/mt. Automotive steel was raised by 200 yuan/mt. In addition, Angangshen high-strength wire in the 590 MPa, 780 MPa, 980 MPa, and 1180 MPa grades was raised by 200 yuan/mt. 4. Cold-hard: raised by 200 yuan/mt. 5. Galvanizing: raised by 200 yuan/mt. 6. Non-oriented silicon steel: raised by 200 yuan/mt. 7. Color-coated: raised by 100 yuan/mt. 8. Medium-thickness plates: raised by 200 yuan/mt. 9. Wire rod: raised by 200 yuan/mt. 10. Rebar: raised by 200 yuan/mt. 11. Alloy surcharge: please refer to the price list for details. Angang Co., Ltd. Marketing Center Mar 2026 Bensteel Group's product price policy for April 2026 was adjusted as follows based on the product price policy for March 2026: 1. Hot-rolled: raised by 200 yuan/mt. 2. Pickling: raised by 200 yuan/mt. 3. Cold-rolled: raised by 200 yuan/mt. Automotive steel was raised by 200 yuan/mt. 4. Cold-hard: raised by 200 yuan/mt. 5. Galvanizing: raised by 200 yuan/mt. 6. Electrogalvanization: raised by 200 yuan/mt. 7. Non-oriented silicon steel: raised by 200 yuan/mt. 8. Wire rod: raised by 200 yuan/mt. 9. Rebar: raised by 200 yuan/mt. 10. Special steel: raised by 200 yuan/mt. 11. Alloy surcharge: please refer to the price list for details. Bensteel Group Sheets & Plates Marketing Center, Beiying Operation Center Mar 2026

Following review and deliberation, Baosteel hereby announces the adjustments to its domestic sales prices for April 2026 based on March 2026 (unless otherwise specified, all prices are tax-exclusive), as follows: I. Hot-rolled: Base price raised by 200 yuan/mt. II. Plate: Base price raised by 200 yuan/mt. III. Pickling: Base price raised by 200 yuan/mt. IV. Cold-rolled: Base price raised by 200 yuan/mt. V. Hot-dip galvanizing: Base price raised by 200 yuan/mt. VI. Electrogalvanization: Base price raised by 200 yuan/mt. VII. Al-Zn-Al-Mg (medium aluminum): Base price raised by 200 yuan/mt. VIII. Al-Zn-Al-Mg (high aluminum): Base price raised by 200 yuan/mt. IX. Aluzinc: Base price raised by 200 yuan/mt. X. Color-coated: Base price raised by 200 yuan/mt. XI. Non-oriented silicon steel: Base price raised by 200 yuan/mt. XII. Grain-oriented silicon steel: Unchanged. XIII. Seamless pipe: Base price raised by 200 yuan/mt. XIV. Welded pipe: Base price raised by 200 yuan/mt. XV. Wire rod: Base price raised by 200 yuan/mt. XVI. Bar: Base price raised by 200 yuan/mt. XVII. For adjustments to alloy surcharges as well as coating and plating surcharges, please refer to the April 2026 price list. XVIII. The above price adjustment notice shall take effect from the date of publication. XIX. The Marketing Center (Baosteel International) of Baoshan Iron & Steel Co., Ltd. reserves the right of final interpretation of this price adjustment notice. Baoshan Iron & Steel Co., Ltd. Marketing Center (Baosteel International) March 9, 2026

【SMM Steel】Colorado-based low-carbon iron startup Electra has developed a chemical and electric process producing 99% pure iron from ore, claiming 30% reduction in steel's carbon footprint. The clean iron can be used in electric arc furnaces for steelmaking or applied in iron-based batteries. The company this week signed purchase agreements with major industry players including Meta, Nucor and Toyota Tsusho America, with plans to commence operations at its demonstration plant in mid-2026 targeting annual production of 500 metric tons of low-emission iron.

According to MiningNews.net, West Coast Silver encountered high-grade silver ore and indications of gold in the first drilling at its Elizabeth Hill project in the Pilbara region of Western Australia. The initial batch of drilling included 12 holes, with a planned drilling depth of 1,183 meters. The first two holes encountered a thick orebody at shallow depths. The first hole encountered 21 meters of ore at a depth of 10 meters, with a silver grade of 1,047 g/mt, including an 8-meter-thick orebody with a grade of 2,632 g/mt. The richest ore section was encountered at a depth of 27 meters, with 1 meter of ore at a grade of 15,071 g/mt. Previous drilling by Alien Metals, the former owner of the mine, encountered 21 meters of ore at a depth of 12 meters, with a silver grade of 730 g/mt. The second hole encountered 15 meters of ore at a depth of 1 meter, with a silver grade of 723 g/mt. This included 3 meters of ore starting at a depth of 1 meter, with a silver grade of 2,639 g/mt, and 1 meter of ore at a depth of 4 meters, with a gold grade of 2.03 g/mt. Anomalies in base metals, such as zinc (0.334%), copper (0.275%), and lead (over 1%), were also encountered. It is not surprising to encounter gold and base metals in the northern region, but the high-grade gold is somewhat unexpected. The variability in silver content in the samples reflects the variability characteristics of silver mineralization. The Elizabeth Hill silver-polymetallic mine produced 1.2 million ounces of silver over approximately one year. In 2000, the mine was closed due to factors such as low silver prices ($5/ounce). The Elizabeth Hill deposit is renowned for its pod-shaped ore bodies. The "Karratha Queen" silver nugget, weighing 140 kg (4,938 ounces), was discovered there. This nugget is the largest silver nugget ever mined in Australia and one of the largest in the world. In comparison, the world's largest silver nugget, weighing 1,051 kg (37,426 ounces), was discovered in the 1890s at the Smugglers mine in Colorado.

Li-ION BATTERY China 2025 Officially Announced and Scheduled

[SMM Analysis: The Uncommon Yet Not Ordinary Prussian White: How Can Low-Cost Materials Sustain Competitiveness?] SMM News on June 18: Driven by the goal of carbon neutrality, sodium-ion batteries have emerged in the fields of energy storage systems (ESS) and start-stop applications due to their advantages of abundant resources and low cost. The Prussian route, as one of the three major cathode routes for sodium-ion batteries, is gradually gaining attention. Prussian materials are currently divided into two types: Prussian blue and Prussian white. The main reason for the color difference between the two cathodes lies in crystalline water. Prussian white requires further dehydration based on Prussian blue, so precise control of crystalline water is necessary for Prussian white...