Driven by the dual forces of global energy structure transformation and the "dual carbon" goals, battery technology is evolving from a traditional electricity storage medium into a core engine reshaping transportation, consumer electronics, and even the energy internet. From fundamental breakthroughs in materials science to the industrialisation of cutting-edge technologies such as solid-state and sodium-ion batteries, the battery industry is in a period of explosive technological advancement with intense competition. This conference brings together the world's top scholars, industry chain leaders, and capital forces, aiming to break down barriers between "industry, academia, research, and application." We will delve into key topics including high energy density, ultimate safety, ultra-fast charging technology, and recycling, jointly charting a new blueprint for green, efficient, and sustainable energy. Shenzhen Huanaxincai Co., Ltd. will attend this grand event to discuss industry development trends with industry peers and jointly drive battery technology to new heights. form to sign up immediately, and together witness and participate in this extraordinary and far-reaching industry event, co-creating a brilliant new chapter! Shenzhen Huanaxincai Co., Ltd. was founded in November 2021 by a doctoral team of high-level overseas talents. It is a national high-tech enterprise specialising in the R&D, industrialisation, and end-use applications of sodium-ion battery cathode materials. The company has been recognised as a "Shenzhen Specialised, Refined, Distinctive, and Innovative Enterprise" and a "Shenzhen 20+8 Industrial Cluster Enterprise." It has applied for or been granted nearly 80 patents, obtained ISO9001, ISO14001, and other system certifications, and served as the lead or major co-drafter of four sodium-ion battery standards. The company has received multiple rounds of financing from publicly listed firms including Meilian New Material and Zijian Electronics, and has won numerous industry awards. Core Business The company specialises in the R&D, production, and sales of sodium-ion battery cathode materials. With years of deep industry expertise and over 100 core patents accumulated, it possesses strong technological capabilities. Currently, the enterprise has fully mastered both mainstream sodium-ion battery cathode material technology routes — layered oxide and polyanion. Its products maintain a leading position in overall market performance. The layered oxide cathode materials feature high energy density, high working voltage, and excellent C-rate performance, making them widely suitable for application fields such as power batteries. The polyanion NFPP cathode materials are characterised by high safety, ultra-long cycle life, and outstanding wide-temperature adaptability, with excellent cycling performance, making them particularly suitable for scenarios with stringent safety and service life requirements such as utility-scale energy storage, backup power supplies, and starter batteries. The polyanion NFS cathode materials feature high voltage and high capacity performance, and are widely applied in scenarios such as light vehicle power and others. Leveraging a mature technology system and rigorous quality control management, the company's products have achieved large-scale mass production and stable supply, successfully entering various application segments and establishing in-depth partnerships with multiple Fortune Global 500 enterprises and leading industry clients. We remain committed to technological innovation as our core driving force, continuously iterating product performance, and dedicated to providing global clients with high-grade, highly reliable sodium-ion battery cathode materials to facilitate the high-quality development of the new energy industry. Long press 2026 SMM Battery Technology Conference

This week, the operating rate of China's downstream aluminum processing industry leaders was recorded at 64%, edging down 0.1 percentage point WoW, with significant divergence across sub-sectors. The operating rate of primary aluminum alloy edged up 1.2 percentage points WoW to 59.4%; although supply remained normal, demand recovery was slow, and the rate is expected to hold steady in the short term. The operating rate of aluminum plate/sheet and strip edged down 0.2 percentage points to 72.0%, with robust export orders offsetting weak domestic demand caused by high aluminum prices. The operating rates of aluminum wire and cable and aluminum extrusion held flat at 68.0% and 57.6% respectively; aluminum wire and cable benefited from a significant increase in aluminum stranded wire exports. Extrusion side, steady growth in home decoration orders partially offset the drag from weak real estate recovery, while industrial extrusion demand remained solid, expected to hold up well in the short term. The operating rates of aluminum foil and secondary aluminum producers declined 0.3 and 1 percentage point respectively to 73.3% and 53.9%, affected by multiple factors including fading peak season, air-conditioner foil drag, bill supervision tightening, and weakening demand, facing sustained downward pressure going forward. Overall, strong exports partially compensated for insufficient domestic demand, but high aluminum prices, cost pressure, and off-season factors continued to constrain the industry's upside room. Primary aluminum alloy: This week, the operating rate of China's industry leaders in primary aluminum alloy rose 1.2 percentage points WoW to 59.4%. Supply side, enterprises maintained normal production schedules overall. Some enterprises saw operating rates rebound recently as prior inventory had been largely depleted. Demand side, the aluminum price center shifted lower this month MoM, but downstream spot order quotes remained generally scarce, with the market primarily executing long-term contracts as usual. As downstream demand recovered slowly, primary aluminum alloy enterprises intensified competition for limited orders, leading to a slight increase in overall inventory. Overall, with aluminum prices maintaining current levels, the stimulus effect on downstream consumption remained limited. The operating rate of the primary aluminum alloy industry is expected to stay at current levels, likely remaining stable next week. Aluminum plate/sheet and strip: This week, the operating rate of aluminum plate/sheet and strip industry leaders edged down 0.2 percentage points WoW to 72.0%. Operations side, plate/sheet, strip and foil industry leaders maintained a generally stable production pace, but disrupted shipment pace had not yet eased due to persistently high aluminum prices and downstream speculative purchasing patterns. Orders side, stable domestic can stock packaging demand provided a floor; ESS sector battery casings, brazing materials and other products maintained high operating rates as downstream orders extended into Q3, forming a key support; auto sheets benefited from MoM rebound in new energy vehicle sales in May and strong exports, with orders recovering at the margin. Export side, a stronger overseas market significantly benefited China's exports, with enterprises reporting export orders already extended to late August and beyond, with full orders on hand. However, the domestic commodity plate market faced a severe situation: aluminum ingot average prices had long operated at a high level of 24,000 yuan/mt, civilian aluminum semis demand contracted sharply, fixed-price engineering orders were widely delayed as picking up goods meant immediate losses, and domestic orders showed signs of weakening. In the short term, although strong exports could offset some weak domestic demand, aluminum price fluctuation risks intensified, and enterprises tended to control production schedule pace while destocking simultaneously. The operating rate of aluminum plate/sheet and strip is expected to be under pressure in June. Aluminum wire and cable: The domestic aluminum wire and cable industry operating rate held steady at 68.0% this week, flat WoW. The industry operating rate stayed high during the week, mainly supported by strong export order activity. Resilient ex-China demand continued to drive enterprise production plans, and near-term industry orders remained focused on aluminum stranded wire export orders. In contrast, domestically, the pace of power grid construction project order placement was slower than expected at the beginning of the year. Recent power grid tenders were dominated by low-voltage and overhead lines, and the marginal boost from order production schedules to operating rates weakened. However, sustained volume growth in export orders effectively filled the gap in domestic demand, and the order structure continued to show a pattern of "strong exports, stable domestic." Under the current dynamic between high export growth and stable domestic demand, industry shipments maintained a dynamic balance, and operating rates are expected to remain resilient in the near term. Aluminum extrusion: The domestic aluminum extrusion operating rate held steady at 57.6% this week, with the industry continuing a mild operating trend overall. On the architectural extrusion side, home renovation orders maintained steady incremental growth recently. Combined with some enterprises having previously secured large-scale project orders such as supertall buildings and corporate headquarters, their volume advantage and longer delivery cycles provided sustained support for industry operations, partially offsetting the drag from weak real estate recovery. On the industrial extrusion side, demand in segments such as power systems, automotive lightweighting, and PV frames remained solid, supporting stable industry operations. Multiple large enterprises reported that May orders remained robust and held an optimistic outlook for June orders. However, some small and mid-sized industrial extrusion enterprises reported that to maintain healthy cash flow, they expect to moderately control order-taking to ease finished product inventory pressure. Some enterprises also proactively declined orders with low processing fees to maintain reasonable margins, leading to slight divergence in industry operations. Overall, off-season characteristics had not yet emerged, and the aluminum extrusion operating rate is expected to continue to hold up well next week. Aluminum foil: The operating rate of aluminum foil industry leaders pulled back 0.3 percentage points WoW to 73.3% this week. At the enterprise operation level, the traditional peak-season effect was gradually fading. Although orders on hand at industry leaders remained ample, structural divergence intensified. On the order side, demand for food packaging foil and pharmaceutical foil was at the tail end of the peak season, and domestic orders were set to face a seasonal pullback. Battery foil, on the other hand, benefited from robust battery end-use demand, with tight production schedules. However, the air-conditioner foil segment faced notable pressure: June household air conditioner domestic sales production schedules were sharply revised down YoY, downstream clients bargained aggressively, hydrophilic foil processing fees were running near cost, and the air-conditioner foil segment entered a downturn earlier than in previous years. In June, the packaging off-season effect and the drag from air-conditioner foil are expected to gradually dominate, with operating rates continuing to pull back. Secondary Aluminum: This week, the operating rate of secondary aluminum industry leaders fell 1 percentage point WoW to 53.9%, mainly weighed down by dual pressures from both the cost and demand sides. Cost side, invoice regulation continued to tighten with an expanded scope, and the shortage of compliant input invoices forced some secondary aluminum producers to cut production, significantly dampening their willingness to operate. Demand side, downstream consumption weakened further after June, with new orders for die-casting remaining sluggish. Although ADC12 prices were raised consecutively at the beginning of the week driven by costs, downstream buyers showed limited acceptance of high prices, restocking mainly on rigid demand with little willingness to rush to buy amid continuous price rise, and transaction volumes failed to increase in tandem. Overall, if invoice issues continue to escalate and the off-season deepens further, the industry operating rate still faces downward pressure.

[SMM Rare Earth News Flash] Ramaco Resources and REalloys signed a non-binding memorandum of understanding to establish a strategic partnership aimed at building a domestic US rare earth and permanent magnet supply chain. Ramaco will supply REalloys with mixed rare earth carbonates and scandium oxide produced from its Brook project in Wyoming, while REalloys will utilize SRC facilities for separation and processing. REalloys may secure supply rights to up to 20% of Ramaco's future production of critical materials. The Brook mine is the first new rare earth mine built in the US in over 70 years, and mining and pilot-scale processing facilities are currently under construction.

[Weekly Review of Aluminum Scrap and Secondary Aluminum]High Raw Material Costs Keep Secondary Aluminum Prices Firm

[Silicon Coal Prices Rose Slightly, Trading Game Sentiment Increased in Silicon Metal Market]: Supply side, northern silicon enterprises' operating rates were basically stable, while southwestern silicon enterprises' operating rates gradually improved. As the southwest successively entered the rainy season with electricity prices adjusted downward, a small number of silicon enterprises resumed production or increased operations, but the pace of production release was relatively slow. Cost side, although southwestern rainy season costs were periodically adjusted downward, current regional costs remained higher than those of northern silicon enterprises in production. Therefore, rising silicon coal raw material prices provided strong cost support below silicon metal prices, while prices above were constrained by the supply-demand relationship. Silicon metal was in a trading game phase, with attention on changes in market sentiment.

HRC futures closed at 3,377 today, down 0.44% for the day. Spot side, cold-rolled and hot-rolled spot prices fell 10-20 yuan/mt, with overall transactions being mediocre. Today SMM released partial weekly HRC balance data. This week, SMM's surveyed social inventory of HRC across 86 warehouses nationwide was 4.3519 million mt, down 114,500 mt WoW, or -2.56% WoW. By region, except for South China and Northeast China markets, other markets continued destocking. Demand side, this week's apparent demand was up 13,800 mt WoW, and demand had not yet shown a significant decline due to the off-season. From a fundamental perspective, supply-demand imbalance had not yet accumulated this week. Looking ahead, market rumors suggest coke still has expectations of further increases, which provides some support to the steel cost side. However, considering current signs of weakening market demand and weak market sentiment, prices are unlikely to rise significantly going forward, with short-term movements expected to be range-bound.

Spot lithium carbonate prices continued to decline this week. The futures market performed weakly, with the price range of the most-traded LC2609 contract fluctuating downward from 178,000-182,100 yuan/mt at the beginning of the week to 157,600-167,600 yuan/mt, hitting a mid-week low of 157,600 yuan/mt, with a weekly decline of approximately 10.7%. Overall open interest decreased, and market sentiment was bearish. Market transactions exhibited a divergent pattern of "upstream holding prices firm and holding back from selling, downstream dip-buying," while actual transactions maintained a certain level of activity. Upstream lithium chemical plants showed a passive attitude toward spot order shipments, with sentiment to hold prices firm and hold back from selling still prevailing. Only some enterprises that had hedged at higher levels earlier were able to close a small number of spot orders with downstream buyers or traders. On the downstream material plants side, June production schedules stayed high with demand continuing to grow. Supported by rigid demand, some enterprises maintained dip-buying and stockpiling for rigid needs. As prices continued to fall, some enterprises adopted a cautious wait-and-see attitude, with purchase willingness and target prices adjusted downward in tandem. Overall, market inquiries and actual transactions maintained a certain level of activity. Supply side, production increased, and industry chain inventory changes diverged significantly. Lithium carbonate production increased this week, mainly due to the successive production resumptions of spodumene processing lines that had previously undergone maintenance. The recycling segment and salt lake segment maintained stable production, while the lepidolite segment experienced minor production fluctuations due to raw material supply issues. In terms of inventory changes: upstream lithium chemical plants saw slight destocking this week as long-term contract orders were delivered in a concentrated manner at the beginning of the month, coupled with some resumed production lines not yet operating at full capacity; downstream material plants saw inventory buildup as long-term contracts and customer-supplied materials arrived successively at the beginning of the month, combined with dip-buying spot orders; traders saw destocking as downstream buyers purchased as needed. Looking ahead, spot lithium carbonate prices are expected to maintain an in the doldrums pattern in the short term, but downside room is limited. Supply side, the pace of Zimbabwean lithium ore arrivals at ports and the progress of production resumptions at Jiangxi mines are key variables going forward. Demand side, downstream production schedules in June stay high, and rigid demand support persists. Short-term lithium prices are expected to maintain a fluctuating trend. It is recommended to closely monitor warrant inflection points, the pace of Zimbabwean lithium ore arrivals at ports, and the actual fulfillment of downstream production schedules.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Stable This Week (2026.6.1-6.4)] From June 1 to June 4, 2026, electrolyte prices remained stable. Against the backdrop of poor cost pass-through in the earlier period, even though upstream raw material costs edged down, electrolyte prices are expected to remain stable in the short term.

In May 2026, global square billet markets exhibited a generally upward but fragmented trend, with average prices in most regional markets rising by $10–$20 per metric ton (mt). Black Sea FOB billet prices climbed by $13 to reach a 2025-high of $483/t, while Italy's Ex-Works prices increased by $18 to $621/t. Conversely, the Gulf region experienced a slight decline, with prices dropping from $518/t to $514/t. Furthermore, the National Bank of Ukraine forecasts that average billet prices will rise 4.9% year-on-year to $487.7/t FOB Ukraine in 2026. The mixed price movements highlight shifting trade flows; while solid domestic and Iranian demand allowed Russian suppliers to maintain firm pricing despite Turkish buyers seeking $505–$510/t CFR, the broader market lost momentum by late May due to weakening Chinese futures and inflation pressures in ASEAN countries.

This week, ternary cathode precursor prices pulled back. Nickel sulphate prices performed relatively strongly this week, while cobalt sulphate prices declined and manganese sulphate prices remained stable. Discount side, for June and Q2 orders, as nickel sulphate raw materials were relatively tight and prices ran strong, some producers were willing to raise discounts. Long-term contract side, some producers' long-term contracts had been agreed upon, with no direct raises yet. Spot order side, as nickel sulphate prices remained at a relatively high level, nickel coefficients for some consumer-segment spot orders in June rose notably, but cobalt sulphate prices performed relatively weakly, and coefficients had not yet recovered significantly. Production side, driven by end-use demand, some producers saw strong export orders; coupled with raw material price increases, this pushed downstream stockpiling willingness in China to recover, with top-tier producers maintaining high production schedule levels. Looking ahead, sulphate cost support has been relatively strong recently, but downstream price acceptance is expected to depend on downstream demand conditions in Q2.