The 2026 SMM (21st) Lead & Zinc Conference and Industry Expo opened grandly at Howard Johnson Agile Plaza in Chengdu, Sichuan during March 25–27 2026. Organized by SMM, the event brought together global enterprises, professional experts and industry peers from across the entire lead and zinc supply chain. Participants focused on industry hot topics, analyzed market trends and explored development strategies, establishing a highly efficient platform for communication and collaboration to support high-quality growth of the sector. To further strengthen the overseas delegation’s comprehensive understanding of China’s lead and zinc industrial chain and build closer connections between international industry peers and key producers in China, SMM led a high-level overseas delegation on a multi-day industrial tour starting on the afternoon of March 27. The delegation included representatives from global giants, such as Nyrstar, a top European lead and zinc smelting firm, Nexa Resources, a South American giant in lead-zinc mining and smelting, and Befesa, a pioneer in zinc recycling. During the tour, the delegation visited 8 Chinese enterprises. including: COSCO Shipping Sichuan Chengtun Zinc & Germanium Technology Sichuan Kunshun Zinc Industry Yunnan Luoping Zinc & Electricity Hongzhou Hongqian Nonferrous Chemical Yunnan Zhenxing Industrial Group Mengzi Mining & Metallurgy Danxia Smelter of Shenzhen Zhongjin Lingnan Nonfemet The delegation members went deep into production sites, held in-depth discussions and exchanges, and gained a full picture of China’s lead and zinc industry in terms of production operations, technological innovation, capacity scale and market layout, greatly enhancing their insight into and understanding of the entire industrial chain. SMM has systematically compiled detailed information of all enterprises that were visited during this tour, with details below: COSCO Shipping On the afternoon of March 27, the delegation visited COSCO Shipping for an exchange, where they received a warm welcome from the company's leadership. Both sides engaged in discussions on topics such as equipment transportation and technological upgrades. Sichuan COSCO Shipping Logistics Supply Chain Management Co., Ltd. is a wholly-owned subsidiary of COSCO Shipping Logistics Supply Chain Co., Ltd., registered and established in Chengdu, Sichuan Province, with an investment of 30 million yuan. COSCO Shipping Logistics Supply Chain Co., Ltd. is affiliated with China COSCO Shipping Corporation Limited and serves as a core member of the "shipping, ports, and logistics" segment of COSCO Shipping Group, as well as an important component of its global digital supply chain system. The company operates warehouse space exceeding 6 million m², including 19 futures delivery warehouses. China COSCO Shipping Corporation Limited is a globally leading shipping enterprise group, with a combined fleet capacity of 130 million DWT across 1,535 vessels, ranking first in the world. Sichuan COSCO Shipping Logistics Supply Chain Management Co., Ltd. holds business qualifications and an operational scope covering multiple transportation modes including sea, land, air, and rail, providing comprehensive logistics services spanning both international and Chinese markets. Since entering the non-ferrous metals delivery warehouse business in 2016, the company has adhered to the principle of "client-centered and market-oriented," continuously enhancing its service capabilities and achieving steady business growth. Currently, at key logistics periods such as Shanghai Baoshan, Shanghai Yangshan, and Yixing in Jiangsu, the company successfully operates delivery warehouses designated by the Shanghai Futures Exchange for copper, nickel, zinc, and other products. It has become one of the three major non-ferrous metals warehouses of SHFE and was honored with the title of "Top Ten Designated Non-Ferrous Metals Delivery Warehouses" by the Shanghai Futures Exchange for two consecutive years. Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. On March 28, the delegation visited Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. (Shimian City). Both sides engaged in in-depth exchanges on the development of the zinc smelting industry, with a focus on thorough discussions regarding product processing, production techniques, capacity scale, market trends, and the current challenges facing the industry. Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. was established on December 6, 2015, with a registered capital of 1.6 billion yuan. The company has an annual capacity of 300,000 mt of electrolytic zinc, 150,000 mt of sulphuric acid, 400,000 mt of electrolytic zinc waste residue processing, and 40 mt of high-purity germanium dioxide. On January 16, 2019, the company was approved by the China Securities Regulatory Commission and merged into the publicly listed firm Chengtun Mining Group Co., Ltd. The company's main business includes smelting and R&D of zinc-germanium series products, as well as comprehensive recovery of multiple metals. It has formed a complete industry chain from zinc concentrates entering the plant to finished products leaving the plant. Its production lines include zinc calcine, electrolytic zinc, electrolytic zinc waste residue processing, and comprehensive recovery of rare and precious metals. Sichuan Kunshun Zinc Industry Co., Ltd. (Shimian City) On March 28, the delegation headed to Sichuan Kunshun Zinc Industry Co., Ltd. (Shimian City) for a visit and exchange, where they received a warm reception from the enterprise. Both parties held in-depth discussions and exchanges on zinc smelting, covering topics such as production costs, production and market landscape, raw material procurement and processing, industry chain competitive advantages, and distinctive process technologies. Sichuan Kunshun Zinc Industry Co., Ltd. is a specialized and green environmental protection enterprise jointly invested and established by Sichuan Metallurgical Holding Group Co., Ltd. and Shimian Dongshun Zinc Industry Co., Ltd. to implement the national green production philosophy, actively develop the circular economy, and promote the comprehensive utilization of solid waste resources. It integrates solid waste treatment, recycling, and resource regeneration. The company primarily uses high-tech methods to carry out clean utilization and harmless treatment of heavy metal-containing waste generated by industries such as metallurgy and chemicals, eliminating the environmental impact of heavy metal solid waste at the source. The company was established in 2021 and is located in Zhuma Industrial Park, Shimian County, Ya'an City, Sichuan Province, covering an area of 65 mu with a total investment of 180 million yuan. The company has built a 3.5m × 50m Waelz rotary kiln production line, equipped with advanced and well-established low-grade zinc oxide production technology, achieving a resource recovery utilization rate of over 95% and effectively managing waste gas, noise, solid waste, and groundwater risks. It is also equipped with supporting facilities including desulphurization, denitrification, and flue gas defogging towers, as well as a wastewater treatment station, raw material warehouse, raw material pre-washing workshop, water slag processing workshop, biomass semi-gasification furnace, zinc crystallized salt workshop, production safety and environmental protection center, and laboratory for detection and testing. The company holds qualifications for treating hazardous waste categories including HW12, HW17, HW23, HW48, and HW49, with an annual capacity to process 100,000 mt of zinc-containing waste. Its main products include low-grade zinc oxide and zinc crystallized salt. The company has always upheld the green and environmentally friendly development philosophy, adhering to the fundamentals of "being responsible for the environment, for clients, and for employees," guided by technological innovation, and targeting the "reduction, recycling, and detoxification" of solid waste pollution prevention and control. The company is committed to building a modern "solid waste" management and disposal service provider, actively carrying out emergency environmental protection disposal, proactively assuming social service functions, and making positive contributions to promoting the circular economy development in Sichuan and strengthening the ecological civilization construction of lucid waters and lush mountains! Yunnan Luoping Zinc & Electricity Co., Ltd. (Qujing City) On March 30, the delegation visited Yunnan Luoping Zinc & Electricity Co., Ltd. (Qujing City) for exchanges. During the meeting, both sides conducted in-depth discussions on key topics including magnesium removal process optimization, production management organization, and raw material substitution plans, and put forward constructive suggestions on improving the plant environment. Yunnan Luoping Zinc & Electricity Co., Ltd. was established to fully leverage Luoping's local hydropower and lead-zinc mineral resource advantages. In accordance with the "ore, electricity, and smelting integration" development strategy proposed by the Luoping County Party Committee and County Government, and the overall requirements of the Municipal Party Committee and Municipal Government for the reform of industrial enterprises across the city, the company was registered and established at the Yunnan Provincial Administration for Industry and Commerce on December 21, 2000. It was listed on the Shenzhen Stock Exchange A-share market in 2007 and is a state-controlled enterprise under Luoping County. The company's assets are an optimized combination of three components: hydropower, lead-zinc mines, and zinc smelting. In terms of company assets, they are primarily composed of three advantageous resources of Luoping: mineral, hydropower, and zinc smelting. These mainly include six production units: Luoping County Fule Lead-Zinc Mine with an annual processing capacity of 100,000 mt of raw ore, Lazhuang Power Plant with annual power generation of 250 million kWh (installed capacity of 60,000 kW), a zinc smelter with an annual output of 120,000 mt of electrolytic zinc, a zinc powder plant with an annual output of 12,000 mt of ultra-fine zinc powder, a comprehensive utilization plant with an annual processing capacity of 129,500 mt of zinc slag, and a sulphuric acid plant with an annual output of 140,000 mt of sulphuric acid, achieving a total annual industrial output value exceeding 2 billion yuan. The company has six wholly-owned subsidiaries. The company's main businesses include hydropower generation, mining of lead, zinc, and other non-ferrous metals, as well as the production and sales of zinc smelting and its extended products. It is currently the only publicly listed firm in China's zinc smelting industry that integrates mining, power generation, chemical processing, and smelting. Its products include zinc sulphide concentrates, lead concentrates, zinc ingots, industrial sulphuric acid, ultra-fine zinc powder, cadmium, germanium concentrates, silver concentrates, copper concentrates, zinc alloys, industrial and residential electricity, edible oils and fats, among others. Its main product, "Jiulong" brand zinc ingots, is popular in non-ferrous product markets in and outside China thanks to its superior product quality and corporate reputation. Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. On March 31, the delegation visited Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. for exchanges. The two sides held in-depth discussions on topics including the economic benefits of smelting by-products, energy utilization efficiency, the current status of enterprise development, and future cooperation intentions. Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. was established on August 1, 2007, with a registered capital of 50 million yuan. The total investment in project construction was 475.5543 million yuan. The company currently has over 600 employees and covers an area of 443 mu. The plant is located in the Heishenmiaobo Industrial Zone, situated in the central area of the Gejiu-Kaiyuan-Mengzi urban cluster. The company is a new-type joint-stock enterprise centered on crude lead smelting, integrating sulphur dioxide acid production, waste heat power generation, lead electrolysis, and recovery of precious and rare metals such as gold, silver, antimony, and bismuth, with further extension into deep processing of lead-series products including red lead, massicot, electrode plates, and storage batteries. It is a benchmark enterprise among private lead smelters in the city, featuring a relatively large scale, advanced technology, compliance with environmental protection standards, comprehensive utilization of resources, and a complete industry chain. The company pioneered the application of new technologies to upgrade and transform the traditional crude lead smelting model among private enterprises in the city. The company has formulated the working philosophy of "prioritizing environmental protection, ensuring safety, attracting talent, enforcing strict management, and enhancing efficiency," and continues to drive high-quality development. In April 2007, the company commissioned China ENFI Engineering Technology Co., Ltd. to conduct a feasibility study on the lead smelting technological transformation project, and determined a comprehensive industrial facility technological transformation project with a total investment of 490 million yuan and an annual capacity of 60,000 mt of crude lead. On December 21, 2009, the "Demonstration Project of Oxygen-Enriched Bottom-Blowing Lead Smelting Technology with Annual Output of 60,000 mt of Crude Lead" was designated by the Provincial Department of Science and Technology as a 2009 Yunnan Provincial Science and Technology Innovation Project. In 2010, it was further designated as a key industrial project by the provincial, prefectural, and municipal governments. On November 14, 2011, the company obtained ISO9001:2008 quality management system certification. On March 7, 2012, "HSPb99.94PCT" was successfully registered on the London Metal Exchange. In 2019, the company successively passed the safety completion acceptance and environmental impact assessment completion acceptance, fully achieving compliant operations and sustainable development. Yunnan Zhenxing Industrial Group Co., Ltd. On March 31, the delegation headed to Yunnan Zhenxing Industrial Group Co., Ltd. for a visit and exchange. Both parties conducted in-depth discussions on topics including Yunnan Province's mineral resource endowment, smelting industry development trends, corporate business strategies, and technological innovation applications, jointly assessing the current status and prospects of the industry and analyzing the challenges and opportunities ahead. Yunnan Zhenxing Industrial Group Co., Ltd. (hereinafter referred to as "the Group") was founded in 1996 and is located in the Chongposhao New Materials Industrial Park, Shadian Sub-district Office, Gejiu City. The Group currently has 7 subsidiaries, 2 holding companies, and 1 equity-participation company, with approximately 3,000 employees. Its capacity reaches annual output of crude lead (100,000 mt), electrolytic lead (60,000 mt), zinc ingot (20,000 mt), lead-acid battery plates (9 million sets), lead-acid batteries (6 million units), superphosphate (350,000 mt), sulphuric acid (200,000 mt), and monoammonium phosphate (MAP) (60,000 mt). The Group has established five major production sites and five major product brands covering crude lead raw material, lead-zinc smelting, power supply manufacturing, fertilizer and chemical production, and resource recovery. It has formed an internal industrial cycle spanning lead ore mining—lead-zinc smelting—lead-based alloy melting—battery manufacturing—waste battery recycling—precious metals production, making it one of the few private non-ferrous enterprises in China with a complete lead industry chain. Since 2013, the Group has been consecutively recognized as one of the Top 100 Non-Public Enterprises in Yunnan Province. In 2025, it ranked 41st among the "Top 100 Non-Public Enterprises in Yunnan Province" and was selected for the first time into the "Top 20 Private Enterprises in Innovation Capability," ranking 7th. Yunnan Shadian Lead Industry Co., Ltd., a subsidiary controlled by the Group, ranked 71st. The Group has received nearly 100 honors at various levels, including "High-tech Enterprise," "Outstanding Private Technology Enterprise," "Enterprise with Harmonious Labor Relations," "Provincial Model Collective for Ethnic Unity and Progress," and "Key Enterprise for Industrial Development in Honghe Prefecture" in Yunnan Province. The Group's Yunsha brand lead ingot was successfully registered on the London Metal Exchange in 2007 and on the Shanghai Futures Exchange in 2020. In 2021, the Group was rated AAA in enterprise credit rating in the national non-ferrous metals industry. In August 2024, it was designated as a "Qiangyuan Zhuqi" Industry-Finance Service Base by the Shanghai Futures Exchange. Looking ahead, the Group will pursue the philosophy of "seeking survival, pursuing development, and accelerating enterprise transformation and upgrading," adhering to the working approach of "rooting in Honghe, basing in Yunnan, radiating to surrounding regions, and expanding across China." It will thoroughly implement strategies of enterprise management transformation, technology-driven development, talent empowerment, and sustainable development, striving to achieve significant increases in capacity and production of major products by 2035, with gross industrial output value up YoY, and to build itself into a 10 billion green lead-zinc comprehensive recycling technology enterprise. Mengzi Mining and Metallurgy Co., Ltd. On March 31, SMM and the field trip delegation headed to Mengzi Mining and Metallurgy Co., Ltd. for a visit and exchange. Both parties engaged in in-depth discussions on the entire zinc smelting process, covering topics including production technology, raw material supply, product sales, environmental protection governance, and future development plans, aiming to share experience, address industry pain points, and jointly clarify the direction of development. Mengzi Mining and Metallurgy Co., Ltd. was established in 1996. It is a resource-based mining and metallurgy enterprise integrating R&D, exploration, mining, mineral processing, smelting, and trading, with a focus on comprehensive utilization of resources. The company is one of the few comprehensive private enterprises in the non-ferrous metal industry that possesses an entire industry chain and operates independent trading and supply chain business platforms. It is among the top 100 enterprises in Yunnan Province and a key enterprise in Honghe Prefecture. Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. — Danxia Smelter On April 2, the SMM delegation visited Zhongjin Lingnan's Danxia Smelter for a survey and field trip to the core plant area. In-depth discussions were held on production operations, technological R&D, and raw material procurement, covering key topics such as production capacity, technical cooperation, and raw material procurement strategies. Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. (hereinafter referred to as "Zhongjin Lingnan") was established in September 1984 and listed on the Shenzhen Stock Exchange in January 1997 (stock code: 000060). It is an internationalized entire industry chain resource company primarily engaged in lead, zinc, and copper mining, mineral processing, and smelting, as well as comprehensive recovery of rare, scattered, and precious metals. It is a publicly listed firm controlled by Guangsheng Holdings Group, a key wholly state-owned enterprise under Guangdong Province. Zhongjin Lingnan's business covers segments including mines, smelting, new materials, and supply chains. It has 23 directly affiliated enterprises, wholly-owned and controlled subsidiaries. Major operating entities include Fankou Lead-Zinc Mine, Shaoguan Smelter, Danxia Smelter, Zhongjin Copper Co., Guangxi Mining Co., Perilya Limited in Australia, Zhongjin Technology Co., and Huajiari Co. The company has an annual output of 300,000 mt of lead and zinc metal content in concentrates, 450,000 mt of smelted lead and zinc products, 450,000 mt of copper cathode, 21,000 mt of aluminum extrusion, 20,000 mt of battery zinc powder, and 5,400 mt of composite metal materials. Among these, its battery zinc powder ranked first in Chinese market share, nickel-metal hydride and nickel-cadmium battery electrode sheets & plates materials ranked first in Chinese market share, and thermal bimetal ranked first in Chinese market share. The 2026 field trip brought together some global lead and zinc industry leaders for an inspiring and highly productive journey across China’s leading smelters and enterprises. The warm welcome, operational excellence, and innovative technologies on display made this event a resounding success — and we extend our deepest gratitude to all the companies and participants who made it happen. Looking ahead – Save the date for 2027: We are excited to announce that the 2027 SMM (22nd) Lead & Zinc Conference and Industry EXPO will take place from March 17–19, 2027 in Kunming, Yunnan, China . This premier event will once again bring together the global lead-zinc community for high-level networking, insight sharing, and industrial exploration. Interactive call – We want to hear from you: As we plan the field trip for the 2027 conference, we’d love your input. Which smelters or companies would you most like to visit for technical exchange and on-site learning? Please share your suggestions in the comments below — your feedback will help shape the 2027 experience. Let us know where the industry should go next!

Recently, the groundbreaking ceremony for Anhui Yuqing Precision Industry Co., Ltd.'s project to produce 300,000 lightweight structural components for new energy vehicles annually was held in Ma'anshan Economic and Technological Development Zone. Upon completion, the project will achieve an annual production capacity of 300,000 lightweight structural components for new energy vehicles, focusing on the core needs of the new energy vehicle industry and contributing to the lightweighting and energy-saving development of automobiles. The project mainly uses aluminum profiles and cutting fluid as raw materials, balancing capacity and quality to create an efficient, intelligent, and green production base.

On March 26, the 580,000 mt aluminum construction project of Wanji Aluminum Industry (Xinjiang) Co., Ltd. commenced. It is understood that the project adopts an EPC model integrating design, procurement, and construction, with a total investment of approximately 4.595 billion yuan, and is expected to be completed and commissioned in July 2027. Upon completion, the project will become a modern aluminum production site integrating green production, intelligent management and control, and full-chain supporting facilities, improving the entire industry chain from alumina and aluminum to deep aluminum processing.

【SMM Steel】The UK published its Steel Strategy on Mar 19, 2026, to revitalize domestic production, prioritize recycled scrap, and shift to EAFs. The plan aims to raise output from ~30% of demand to 40-50% and includes up to £2.5bn in support. A Scrap Working Group will be set up by May 2026. New trade measures, including up to 50% tariffs on excess imports, take effect from July 2026.

I. Supply-Demand Pattern Shift Puts Iron Ore Prices on a Downtrend In 2021, driven by inflation expectations from global quantitative easing, frequent supply-side disruptions in Brazil and Australia, resilient demand in China, and strong speculative sentiment, iron ore prices hit a record high of $219.77/mt in July that year, with Platts’ annual average price as high as $160/mt ; they then entered a prolonged downtrend. In 2025, the annual average iron ore price was $102, down about 36% from the 2021 average. Source: SMM Iron ore prices have continued to fall in recent years, mainly due to the global project investment boom spurred by high prices before 2021. After 2024, multiple large iron ore projects worldwide entered a concentrated commissioning phase, and the market’s supply-demand pattern shifted from tight to loose, with the supply-demand gap widening from -12 million mt to 46 million mt. Meanwhile, China has implemented crude steel production cuts since 2022, significantly curbing iron ore demand. Coupled with persistent weakness in real estate, an overall downturn in the steel industry, and an overseas economic slowdown, among other factors, iron ore demand declined markedly. Entering 2025, a rebound in China’s steel exports drove iron ore demand to increase slightly, while capacity in emerging steel-producing countries such as Southeast Asia was gradually released, narrowing the supply-demand gap somewhat. Over the long term, however, iron ore supply is still on a growth trend, market expectations remain bearish, and prices are pressured to set new lows repeatedly. Source: SMM (the forecast assumes an extreme balance under normal commissioning of new mines and no voluntary production cuts by mines) II. Mine Costs Form a Solid Bottom Support for Iron Ore Prices From the global iron ore cost curve, about 90% of global mine cash cost is no higher than $85/mt, and about 93.8% is no higher than $90/mt. International mining giants represented by FMG, BHP, Rio Tinto, and Vale have costs far below those in China and other non-mainstream countries, forming the main body on the left side of the cost curve in the chart—low and relatively flat—which explains their strong cost competitiveness and earnings resilience in the global market. At present, the $85-90 cost line is the lifeline for the vast majority of mines; once prices remain below this range for an extended period, high-cost capacity will be forced to exit, thereby supporting prices. China’s iron ore mines due to low raw ore grade and high underground mining costs, among other reasons, currently have a nationwide per-mt processing cost of about 595 yuan/mt, equivalent to around $85 . Its costs have long been at the high end globally, serving as the "anchor point" and "ceiling" of the cost curve. The high cost and low production of China's domestic iron ore mines have led the steel industry to heavily rely on imports for raw materials, and fluctuations in international ore prices directly impact the profit stability of the domestic steel industry. Therefore, promoting domestic resource supply, investing in low-cost overseas resources, and developing steel scrap recycling are crucial for the strategic security of China's steel industry. Data source: SMM III. The global iron ore supply has long been characterized by a landscape dominated by the "Big Four" mines, supplemented by "non-mainstream" mines. Currently, the iron ore production industry is highly concentrated, primarily following a pattern dominated by the "Big Four" mines, supplemented by "non-mainstream" mines. Australia and Brazil have long contributed over half of the global iron ore production. Australia, leveraging advantages such as high resource concentration, low mining costs, and stable supply, firmly holds its position as the world's largest producer and exporter; while Brazil is renowned for its high-grade ore and is the world's second-largest iron ore exporter. Data source: SMM The "Big Four" mines, consisting of Rio Tinto, BHP, FMG, and Vale, have long dominated global iron ore supply, accounting for approximately 70% of global production. Data source: SMM The Rise of Emerging Mines Promoting the Multipolar Development of Global Iron Ore In recent years, India has actively promoted domestic mining development, leading to a significant increase in production; since 2023, its iron ore production has surpassed that of China, and it shows a continuous expansion trend, maintaining an annual growth rate of 7%, gradually becoming a new force in regional supply growth. Emerging enterprises such as India's National Mineral Development Corporation (NMDC) and South Africa's Anglo American are gradually expanding capacity, enhancing their influence in the international market. Meanwhile, countries such as Russia, Kazakhstan, Iran, and regions in Africa are also actively developing domestic iron ore resources, seeking to increase their voice in regional markets, driving the global iron ore supply landscape from high concentration towards gradual multipolar development. Data source: SMM IV. Australia Firmly Holds the Top Spot, India Becomes a New Growth Engine From the perspective of major producing countries, Australia still firmly ranks first globally, with iron ore production of approximately 900 million mt in 2025, accounting for one-third of the global total, and maintaining a stable annual growth rate of about 2%. Brazil ranks second; after the 2019 dam collapse, production once fell sharply. Although it has recovered somewhat over the past two years, the increase has been relatively limited. China’s production scale is relatively large, but due to frequent safety incidents and the continued impact of the environmental protection-driven production restriction policy, production has not increased but instead declined in recent years. By contrast, India, as an emerging producer, has seen production rise steadily over the past decade, and is expected to post an increase of about 7% by 2030. Source: SMM V Over the next three years, the world will usher in a new peak in mine commissioning In addition to supply from existing mines, there are currently multiple large-scale iron ore projects under construction worldwide, with the number of mines expected to be commissioned in 2026 at six, mainly located in Africa and Brazil. Representative projects include Vale’s northern expansion “S11D +20mtpa,” the northern block of Guinea’s Simandou iron ore project, and the Nimba iron ore project. 2026 will be the year with the most concentrated new supply over the next three years. With the northern block of Simandou officially commencing production, the overall capacity ceiling of the mining area will, with capacity ramp-up, rise to 120 million mt, becoming the core incremental source of global iron ore supply over the next five years. From 2027 to 2028, projects expected to commence production will mainly come from China, including the Xi’an Mountain iron ore mine and the Honggenan iron ore mine, adding about 25 million mt of iron ore supply to the domestic market. Overall, as emerging producers continue to release capacity, and traditional suppliers such as Australia and Brazil consolidate their export advantages through expansion projects, the global iron ore supply structure will become more diversified. A new cycle of capacity release has gradually begun, and the loose supply landscape is expected to continue deepening over the next several years. Source: SMM Simandou Project Commissioning Reshaping the Global Iron Ore Supply Landscape Among the many new projects, Africa’s Simandou iron ore is particularly noteworthy. The mine is expected to reach annual capacity of 120 million mt, and the ore’s average grade exceeds 65%, providing the market with a high-grade, high-quality option beyond Australia and Brazil, and becoming an important variable in the recent contest over the global iron ore supply landscape. In terms of project progress, the Simandou iron ore project has entered a substantive shipment phase; as logistics corridors are gradually opened up, the mining area’s substantive impact on global supply will gradually become evident. Source: SMM Nearly 400 million mt of Capacity Release by 2030, Global Iron Ore Market Faces Impact With the entry of emerging producers, iron ore supply is beginning to diversify. Projects led by Simandou iron ore are breaking the industry landscape and taking the iron ore market into a new stage. Looking ahead to the next five years, global iron ore capacity is expected to see a wave of concentrated releases, with incremental supply mainly coming from two major regions: Africa and Australia . Leveraging the development of new high-grade mines such as Simandou, Africa is reshaping the global supply landscape; meanwhile, Australia, relying on its existing capacity base and ongoing expansion projects, is further consolidating its export-dominant position. Overall, the global iron ore supply landscape is evolving toward greater diversification and a looser market. Source: SMM VI Simandou High-Quality Iron Ore Enters the Market; Global Iron Ore Enters an Era of “Quality Upgrading” As some older mines gradually enter a period of resource depletion , coupled with the fact that many newly commissioned projects are dominated by mid- to low-grade ore, the average global iron ore grade shows a downward trend from 2025 to 2026 . However, as high-grade mines such as Simandou are commissioned one after another, the share of high-grade ore supply is expected to increase, and is projected to drive a rebound in the overall global iron ore grade in 2027. Source: SMM VII “Green Steel” Reshapes the Global Crude Steel Production Landscape From a policy perspective, the low-carbon transition represented by “green steel” is profoundly reshaping the global crude steel production landscape . Whether in China or Europe, carbon neutrality has become the core theme for the future development of the steel industry. Therefore, whether it is China’s ongoing capacity replacement policy or the EU’s Carbon Border Adjustment Mechanism (CBAM) that is about to be fully implemented , both clearly indicate that the global steel industry is accelerating its transition toward low-carbon and green development. Achieving carbon neutrality across the entire industry chain is no longer an isolated task for a single link, but must rely on close upstream-downstream coordination and deep integration of technological pathways. Source: SMM Technology Reshaping: Green Iron Supply + Green Production Demand Against the broader backdrop of carbon neutrality, merely maintaining the current supply-demand structure dominated by iron ore can no longer meet future low-carbon requirements. The deeper need of industry transformation lies in reconstructing metallurgical processes: resource-rich countries—such as Australia and Brazil, traditional major iron ore exporters—need to fully leverage their renewable energy endowments and mineral advantages, shifting from simply exporting iron ore to producing high-grade, low-carbon-footprint direct reduced iron (DRI) or hot briquetted iron (HBI) and other high value-added intermediate products. By shipping this clean-energy-driven “green DRI” to steel consumption hubs and integrating it with local green electric arc furnace (EAF) processes, it can effectively replace the traditional “blast furnace–converter” long process, thereby substantially reducing carbon emissions at the source. This multinational collaborative model of “high-quality resources + green energy + short-process” is not only a critical measure to address trade barriers such as the Carbon Border Adjustment Mechanism, but also an essential pathway to build a new global green steel supply chain and drive deep decarbonization across the industry. Data source: SMM Rising Share of Electric-Furnace Steelmaking, Stronger Substitutability of Steel Scrap, Squeezing Iron Ore Demand Driven by carbon-neutrality targets, the steel industry, as a major source of carbon emissions in the industrial sector, has drawn close attention for its emissions-reduction pathway. Among these, the traditional long-process route centered on “blast furnace–converter,” due to its heavy reliance on coke and iron ore, is regarded as a primary source of carbon emissions and has therefore become a key focus of regulation and retrofitting in various countries. By contrast, the short-process route represented by “steel scrap–electric furnace,” with a significantly lower carbon-emissions intensity, is being favoured by an increasing number of countries. This structural shift has driven the share of electric-furnace steelmaking in global crude steel production to continue rising. Data source: SMM From an economic perspective, the substitution relationship between steel scrap and pig iron is typically measured by the price spread. Generally, after factoring in steelmaking costs and losses, pig iron costs should be about 100-150 yuan/mt higher than steel scrap prices ; this range is viewed as the cost-performance equilibrium band: if steel scrap prices are lower than pig iron costs by more than this threshold, steel scrap is more economical; otherwise, pig iron has a more pronounced advantage. In 2025, the average price spread between pig iron and steel scrap was 122 yuan/mt, lower than the 2024 average of 211.8 yuan/mt, and also largely within the cost-performance equilibrium band. By contrast, the 2024 spread was significantly above the upper limit of the equilibrium band, indicating that steel scrap offered a more prominent cost-performance advantage at that time. After the spread narrowed in 2025, the economic advantage of steel scrap weakened somewhat. As a result, in the short term, there is limited room for China to increase the share of electric-furnace steelmaking; overall, it remains at a relatively low level and still lags far behind the global average. This also reflects that, at the current stage, cost factors still impose a substantive constraint on the choice of smelting process routes. Data source: SMM Taken together, the blast furnace–converter long-process route will remain the dominant model for global steel production over the next five years, but the shares of electric furnaces and steel scrap usage will increase year by year; in the long run, this trend will suppress iron ore demand, causing it to weaken gradually. Data source: SMM VIII Global Total Iron Ore Demand in 2030 to Be About 2.4 Billion mt, with Gradual Shifts in Global Flows As China began encouraging domestic steel mills to develop overseas markets while adjusting the domestic industry chain’s transformation toward producing high value-added products needed by the manufacturing sector, global crude steel production began to rebound gradually. Data Source: SMM From the perspective of the global demand structure, although crude steel production outside China is entering a new round of development, with capacity expansion particularly notable in regions such as India and Southeast Asia, a considerable portion of the incremental increase comes from electric furnace processes, providing limited substantive boost to iron ore demand. Meanwhile, as the world’s largest iron ore consumer, China’s crude steel production has entered a downward trajectory, constituting the primary source of demand-side reductions. Overall, overseas increments are unlikely to fully offset China’s reductions. It is expected that by 2030, total global iron ore demand will be approximately 2.4 billion mt, with overall growth trending toward a slowdown. Compared with the mild growth on the demand side, the supply side remains in a phase of continuous expansion. The oversupply landscape will become an important factor that suppresses ore prices over the long term. Data Source: SMM SMM will continue to track the impact of changes in iron ore supply and demand on prices. Comments are welcome—scan the code to follow us! Data Source Statement: Except for publicly available information, all other data are processed and derived by SMM based on publicly available information, market communication, and SMM’s internal database models, for reference only and not constituting decision-making advice. Scan the code to access information for free

On February 11, the unveiling and ribbon-cutting ceremony of the Nanlu Digital Intelligence Center was held, marking its official opening. The center features four themed exhibition halls, systematically, comprehensively, and from multiple perspectives summarizing Nanlu's fruitful achievements in its high-quality development transformation, covering topics from historical achievements and honors to innovative technology research and development, green production practices, and digital empowerment upgrades.

Recently, the Administrative Approval Bureau of Ganzhou City issued a public notice on administrative approval applications, announcing that the environmental impact assessment (EIA) for the 15,000 mt/year lithium carbonate project (re-application) of Jiangxi Xiangnan New Energy Co., Ltd. has been approved. It is reported that the project is located in the Xinhua Industrial Zone of Dayu Industrial Park, Jiangxi Province, with a total investment of 2.1 billion yuan, including 25 million yuan for environmental protection, accounting for 1.19% of the total investment. The main investments in this project include 90 million yuan for equipment, 50 million yuan for working capital, and 70 million yuan for other purposes (including environmental protection investment). The main product is 15,000 mt/year of battery-grade lithium carbonate, with a by-product of 73,483.25 mt/year of sodium sulfate decahydrate.

Four years ago, Central China Copper Co., Ltd., a subsidiary of China Copper Co., Ltd. (hereinafter referred to as "Central China Copper"), successfully developed 6e-06-meter rolled copper foil, setting a new record for the thinnest rolled copper foil in China. Four years later, at the electronica China in Munich, the company launched red-coated and black-coated foils with high flexibility and corrosion resistance, becoming one of the highlights of the exhibition. From thick copper strips to copper foils as thin as cicada wings, and from ordinary bare foils to high-end red-coated and black-coated foils, Central China Copper has carved out a unique path in product transformation and upgrading. From 2021 to 2024, the company's copper foil production and sales exceeded 2,000 mt for four consecutive years, and its copper foil business achieved profitability for five consecutive years. Applying "Lipstick" on "Cicada Wings" "Applying a uniform red coating on the surface of copper foil is like applying lipstick to a delicate cicada wing. Any slight misstep can result in color variations or peeling." Li Haifeng, a technician specializing in surface treatment, still vividly recalls the technical challenges faced during the initial trial production of red-coated foil. In early 2020, while maintaining stable production of qualified bare foil, Central China Copper set its sights on high-value-added treated foils and began attempting to produce red-coated foil. During the initial trial production, issues such as frequent red spots, color variations, and inadequate oxidation resistance during the electroplating process led to a scrap rate of over 50%. Watching dozens of tons of foil material turn into "colorful" scrap in the plating tanks, the technicians felt both heartache and helplessness. To overcome these challenges, the company's technical team members camped out by the production line day and night for several consecutive weeks. Their hard work paid off, as they finally identified the root cause of the problem: the instability of the electroplating solution formula and significant temperature fluctuations. They redesigned the electroplating solution formula, added new-type additives to control fluctuations in metal ion concentration, installed an online high-precision real-time temperature monitoring system to enable real-time regulation of the electroplating solution, and innovated the "layer-by-layer current method" process to achieve denser and more uniform crystallization of the red coating. In May 2020, Central China Copper shipped its first batch of 10 mt of red-coated foil to domestic customers, and the product quality received customer recognition. As one of the earliest companies in China to successfully develop red-coated foil, Central China Copper, after years of technological accumulation, now boasts product stability that far surpasses that of its peers. Its red-coated foil has become a sought-after product in the market, firmly occupying one-third of the market share and successfully entering the supply chain systems of top-tier enterprises in China's electronics industry. Finding Light in the Darkness of Black Foil With the consumer electronics industry moving towards lighter, thinner, and more flexible designs, the new energy sector entering a rapid development phase, and AI being widely applied across various industries, the market demand for black-coated foil has surged exponentially. Central China Copper Industry closely followed market changes and initiated R&D efforts for blackened foil in 2022. If the R&D of red-coated foil could be described as a "tough battle mode," then the R&D of blackened foil was a "peak performance mode," requiring not only uniform coverage of the blackened layer but also ensuring that it would not peel off or oxidize during subsequent processing. As the production technology for blackened foil had long been monopolized by Japanese companies, the R&D team of Central China Copper Industry had no process flows or technical parameters to refer to. At the beginning of trial production, the blackened foil produced frequently had issues such as color differences in the coating, oxidation spots on the shiny surface, and insufficient adhesion leading to powder shedding. "At that time, it was like being trapped in an endless darkness, with no light in sight," sighed Qiao Yafeng, the head of the R&D team. To break the deadlock as soon as possible, Central China Copper Industry collaborated with the University of Shanghai for Science and Technology and Chalco Academy on industry-university-research cooperation, with the latter providing experimental data support, while the R&D team of Central China Copper Industry was responsible for industrial transformation and verification. However, reality once again poured cold water on everyone. The blackened foil samples trial-produced in the laboratory had excellent indicators, but various issues arose after transferring to the production line. Qiao Yafeng led the team to re-examine over 100 sets of production process data and verify them one by one. After thousands of tests and continuous efforts over hundreds of days and nights, they finally saw the "dawn" of victory. In April 2023, Central China Copper Industry successfully trial-produced blackened foil on its production line, achieving a key leap from laboratory to mass production; in June 2023, the first batch of blackened foil officially passed domestic customer certification; in 2024, small-batch deliveries of blackened foil were made, with positive customer feedback. Capacity Expansion Opens Up New Growth Poles In May, the project construction of Central China Copper Industry entered a "golden period," with the company's new copper foil surface treatment unit project accelerating and scheduled for equipment installation in October and commissioning and production before the end of the year. As a key investment project for Central China Copper Industry in 2025, this project is of great significance for adjusting the product structure of copper foil and forming new profit growth points. Differentiated development of special copper foil products such as red-coated foil, blackened foil, and alloy foil to achieve import substitution of high-end products is the future development direction of Central China Copper Industry's copper foil products. Currently, constrained by the treatment line, the company's production capacity for high value-added treated foil is severely limited, making the addition of a new copper foil surface treatment unit imperative. The new copper foil surface treatment unit adopts domestically leading production processes and equipment, capable of producing high-quality, high-performance red-coated foil, blackened foil, and alloy foil. The intelligent design of this unit not only improves production efficiency but also ensures product stability and consistency. In addition, Central China Copper prioritizes environmental protection and sustainable development. The project has introduced a new zero-liquid-discharge wastewater system to achieve green production. The completion and commissioning of the new copper foil surface treatment unit will bring significant economic benefits to Central China Copper, with the annual capacity of high value-added copper foil expected to increase by over 40%. Qiao Yafeng stated, "The construction of the new copper foil surface treatment unit is an important step for Central China Copper to deepen its strategic layout in the copper foil product sector. We will take this as an opportunity to further optimize the product structure of copper foil, enhance our core market competitiveness, and position the company as a leading enterprise in the copper foil industry." "Leading development with 'strip' and securing the future with 'foil'." Moving forward, Central China Copper will continue to delve deeper into the copper foil sector, continuously improving product quality and service levels, and propelling the company towards the high-end of the copper processing industry chain. We will strive unremittingly to build a national high-end copper-based new material base and contribute to the construction of a "new Chalco" with exceptional material capabilities.

Notice of the General Office of Yancheng Municipal People's Government on Issuing the Implementation Plan for Promoting the Construction of Yancheng's National Carbon Peak Pilot Project To the People's Governments of all counties (cities, districts), the Administrative Committee of Yancheng Economic and Technological Development Zone, the Administrative Committee of Yannan High-tech Zone, all commissions, offices, and bureaus of the city, and all directly affiliated units of the city: The Implementation Plan for Promoting the Construction of Yancheng's National Carbon Peak Pilot Project is hereby issued to you. Please implement it carefully in light of your actual conditions. General Office of Yancheng Municipal People's Government May 23, 2025 (This document is for public release)Implementation Plan for Promoting the Construction of Yancheng's National Carbon Peak Pilot Project Thoroughly implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and the Central Economic Work Conference. Centered around the implementation of Yancheng's national carbon peak pilot project implementation plan, adhere to the comprehensive green transformation of economic and social development as the guide, reform and innovation as the fundamental driving force, the construction of zero-carbon parks to promote the green transformation of production methods, new-type power systems to drive changes in energy production and consumption patterns, and carbon footprint management of products in key industries to actively respond to international green trade barriers. Build a high-quality demonstration zone for green and low-carbon development, contributing the Yancheng approach to achieving the "30·60" goals. I. Explore policy innovations and establish a dual-control management system for carbon emissions Actively promote the transition from dual controls on energy consumption and energy intensity to dual controls on carbon emissions. Explore the construction of the city's carbon emissions statistical accounting system, and establish and improve policy mechanisms for carbon emissions planning, carbon data monitoring, carbon budget management, comprehensive carbon assessment, and product carbon footprint management. (1) Pilot the preparation of carbon emissions planning. Incorporate carbon emissions indicators into the 15th Five-Year Plan for National Economic and Social Development, fully considering factors such as economic development, energy security, and the normal production and life of the masses. Reasonably determine carbon emissions targets for the five-year planning period, and solidify the responsibilities of key counties, districts, and key enterprises for emission control and reduction. During the 15th Five-Year Plan period, carbon emissions intensity reduction will be treated as a binding indicator for national economic and social development, and statistical accounting of total carbon emissions will be carried out. Strive to achieve a stable decline in carbon dioxide emissions by 2030, with some regions making progress in the field of carbon neutrality. [Led by the Yancheng Municipal Development and Reform Commission (NDRC), the Yancheng Municipal Ecology and Environment Bureau, and the Yancheng Municipal Bureau of Statistics, with responsibilities divided among the Yancheng Municipal Industry and Information Technology Bureau, the Yancheng Municipal Transportation Bureau, the Yancheng Municipal Natural Resources and Planning Bureau, etc. The following tasks also require implementation by the People's Governments of all counties (cities, districts), the Administrative Committee of Yancheng Economic and Technological Development Zone, and the Administrative Committee of Yannan High-tech Zone, and will not be listed separately.] (2) Build a "dual carbon" data management platform. In accordance with the principles of data availability, security, and effectiveness, regularly collect and analyze the city's energy consumption and industrial production activities, statistically account for carbon emissions by sector, industry, and enterprise, and construct an intelligent municipal-level carbon peak and carbon neutrality data monitoring, analysis, and management system. By 2026, achieve real-time monitoring and analysis of carbon emissions for five coastal counties (cities, districts) as well as six major energy-intensive industries and enterprises with an annual comprehensive energy consumption exceeding 5,000 mt of standard coal. By 2028, achieve full coverage of monitoring and analysis for key carbon-emitting entities across all industries, with counties (cities, districts) as the unit. (Led by the Municipal Statistics Bureau, Municipal Ecology and Environment Bureau, and Municipal Development and Reform Commission (NDRC), with responsibilities divided among the Municipal Industry and Information Technology Bureau, Municipal Data Bureau, Yancheng Power Supply Company, etc.) (III) Establish a carbon emission budget management system. Keep pace with the national process of constructing a dual control system for carbon emissions, and, in light of Yancheng's actual work situation, conduct research on the topic of carbon budget management for the "15th Five-Year Plan" period, proposing a comprehensive budget management approach covering budget preparation, issuance, execution, evaluation, and assessment. By 2025, take the lead in issuing special carbon budget management plans for key parks, key industries, and key enterprises. By 2030, the energy utilization efficiency of enterprises in the city's key energy-intensive industries will reach advanced international and domestic levels. (Led by the Municipal NDRC and Municipal Ecology and Environment Bureau, with responsibilities divided among the Municipal Statistics Bureau, Municipal Industry and Information Technology Bureau, Municipal Housing and Urban-Rural Development Bureau, Municipal Transportation Bureau, etc.) (IV) Conduct comprehensive evaluations of carbon peak pilot projects. Implement the national and provincial comprehensive evaluation and assessment systems for carbon peak and carbon neutrality. Strengthen the monitoring and analysis of green and low-carbon development levels, and break down the 26 indicators, 24 key tasks, and 39 key projects for the construction of our city's carbon peak pilot project into annual tasks, assigning them to relevant departments and counties (cities, districts). Timely track and coordinate the progress of related work, and provide timely warnings and guidance for projects that are not progressing as expected. (Led by the Municipal NDRC, with responsibilities divided among the Municipal Industry and Information Technology Bureau, Municipal Ecology and Environment Bureau, Municipal Statistics Bureau, etc.) (V) Implement carbon footprint management for key products. Actively promote carbon footprint accounting for PV products and participate in the formulation of provincial or industry standards for carbon footprint quantification methods for PV module products. Encourage enterprises to apply for carbon footprint labeling and certification for their products, and provide certain rewards to eligible certified enterprises. Explore carbon footprint accounting for products in the wind power equipment industry and promote carbon footprint labeling and certification for products in the wind power industry. Explore incorporating relevant requirements for carbon footprint management into government procurement demand standards, encouraging and guiding state-owned enterprises and institutions to give priority to purchasing carbon-labeled and certified products under equal conditions. By 2030, carbon footprint labeling and certification for new energy equipment products will be widely applied. (Led by the Municipal Market Supervision Administration and Municipal NDRC, with responsibilities divided among the Municipal Ecology and Environment Bureau, Municipal Industry and Information Technology Bureau, Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, etc.) II. Highlight Demonstration and Leadership, and Build a Highland for Green and Low-Carbon Development Parks Adhere to the simultaneous advancement of "five modernizations"—clean energy, green industries, low-carbon facilities, intelligent management, and international certification—accelerate the construction of zero-carbon parks, and promote the local consumption and application of a high proportion of renewable energy. (VI) Develop model zero-carbon industrial parks. Research and formulate evaluation criteria and technical specifications for the construction of zero-carbon parks, and promote the integration of construction specifications for coastal zero-carbon parks into the relevant national standard system. Improve the construction of intelligent energy and carbon management platforms in parks, conduct research on park-level power carbon emission factors, and strive for certification and recognition from international authoritative departments. Annually attract over 30 new domestic and foreign-funded green electricity demand-driven projects that are affected by international carbon-related trade policies. Strengthen alignment with carbon footprint accounting rules in Europe and the United States, and complete carbon footprint accounting and ESG information disclosure for over 30 products each year. Implement energy-saving and carbon-reduction projects for infrastructure such as buildings, transportation, lighting, and heating (cooling), and establish over 10 green factories and zero-carbon factories at or above the provincial level annually. By 2028, the total carbon emissions of three zero-carbon parks will decrease year by year, and at least one national-level zero-carbon park will be basically established. (Led by the Municipal Development and Reform Commission, with responsibilities divided among the Municipal Industry and Information Technology Bureau, Municipal Finance Bureau, Municipal Ecology and Environment Bureau, Municipal Housing and Urban-Rural Development Bureau, Municipal Transportation Bureau, Municipal Commerce Bureau, Municipal Market Supervision Administration, Yancheng Power Supply Company, etc.) (VII) Build a new-type power system with a high proportion of green electricity. Deeply promote the projects of "introducing green electricity into parks" and "introducing green electricity into enterprises," and accelerate the pilot construction of four coastal new-type power system parks in Dafeng Port Economic Development Zone, Sheyang Port Economic Development Zone, Huanghai New Area, and Yancheng Economic and Technological Development Zone. Aiming for green electricity to be sourced locally, consumed locally, at the lowest cost, and traceable, accelerate the formulation and improvement of plans for grid connection and consumption of green electricity in parks, promote the integrated development of generation-grid-load-storage in parks, continuously advance the construction of a high-proportion green electricity supply system in parks, and accelerate the construction of ESS power stations. Support export-oriented power battery enterprises in applying for the "direct green electricity connection" pilot project, and explore forming an electricity price advantage for zero-carbon industrial parks through green electricity trading. (Led by the Municipal Development and Reform Commission, with responsibilities divided among Yancheng Power Supply Company, etc.) (VIII) Promote large-scale development and utilization of new energy. Strengthen the management of new energy resources, and enhance the orderly development and rational utilization of onshore wind power and offshore PV resources. Accelerate the construction of offshore wind power and market-oriented grid-connected PV power generation projects, and promote clean substitution in energy supply and electrification substitution in energy consumption. Establish renewable energy-based hydrogen production, and orderly develop green fuels such as green methanol, green liquid ammonia, bio-natural gas, bio-diesel, and bio-jet fuel. Plan and construct the Yancheng Offshore Energy Island from a high starting point, explore multi-energy conversion application scenarios, and build a regional production, trade, and bunkering center for green hydrogen, ammonia, methanol, and bio-jet fuel. Guide new energy power generation enterprises to sign medium and long-term green electricity agreements with green electricity demand users, and increase the proportion of local green electricity consumption. By 2025, the total installed capacity of renewable energy will exceed 20 million kW. By 2030, the annual power generation from renewable energy sources will exceed 45 billion kWh, and an offshore integrated smart energy island will be initially established, centered around an offshore power hub and integrating multiple functions such as hydrogen production and refueling, and marine ranching. (Led by the Municipal Development and Reform Commission, with responsibilities divided among the Municipal Natural Resources and Planning Bureau, the Municipal Industry and Information Technology Bureau, Yancheng Power Supply Company, etc.) III. Adhere to New Quality Empowerment and Expand Green and Low-Carbon Industrial Clusters Increase green and low-carbon technological innovation, and consolidate and expand the scale of green and low-carbon advantageous industries. Transform traditional industries with green and digital technologies, and promote the renewal and upgrading of technological processes as well as the recycling of resources. (9) Implement demonstration projects for advanced green and low-carbon technologies. Focusing on the seven major themes of "wind, solar, hydrogen, energy storage, carbon, marine, and agriculture," efforts will be made to build the Yancheng Green and Low-Carbon Science and Technology Innovation Park. Plan and construct a zero-carbon and negative-carbon industry (technology) research institute from a high starting point. Organize and implement key R&D plans for carbon peaking and carbon neutrality, focusing on areas such as renewable energy, hydrogen energy, energy storage and smart grids, and the circular economy, to promote breakthroughs in advanced technologies and the application of research outcomes. Support eligible projects to be included in the national demonstration projects for advanced green and low-carbon technologies, and recommend them for inclusion in ultra-long-term special treasury bonds and central budgetary investments. (Led by the Municipal Science and Technology Bureau, with responsibilities divided among the Municipal Development and Reform Commission, the Municipal Industry and Information Technology Bureau, etc.) (10) Vigorously develop a green and low-carbon circular economy. Leverage the guiding role of the Yancheng Green and Low-Carbon Industrial Mother Fund to expand and strengthen advantageous industries such as new energy, NEVs and their core parts, and next-generation information technology. Accelerate the development of characteristic industries such as green environmental protection, and proactively plan for future industries such as hydrogen energy and new-type energy storage. Actively promote the development of remanufacturing and second-life application industries, establish a material recycling and circular utilization system with "one product per county," and explore comprehensive utilization models for new types of waste such as retired PV modules, wind turbine blades, and spent power batteries. By 2030, a comprehensive, efficient, and standardized waste material utilization system will be fully established, and the scale of the green and low-carbon industry will reach 500 billion yuan. (Led by the Municipal Development and Reform Commission and the Municipal Industry and Information Technology Bureau, with responsibilities divided among the Municipal Ecology and Environment Bureau, the Municipal Commerce Bureau, etc.) (11) Promote energy conservation, carbon reduction, and efficiency enhancement in key areas. Focus on high-energy-consuming industries such as steel, chemicals, non-ferrous metals, and building materials, as well as key areas such as construction and public institutions, to carry out "diagnosis + transformation" and establish and improve a reserve list for energy conservation and carbon reduction transformation projects and energy-using equipment renewal projects. Implement over 20 key energy-saving technological transformation projects annually, achieving an additional energy savings of over 20,000 mt of standard coal. Strengthen energy conservation reviews for fixed asset investment projects, explore the implementation of project carbon emission assessments, and strictly control the energy consumption and carbon emissions of new projects. Actively promote energy-efficient and low-carbon transportation modes, aiming to achieve a green travel rate of over 75% by 2030. (Led by the Municipal Industry and Information Technology Bureau, with responsibilities shared among the Municipal Development and Reform Commission (NDRC), Municipal Ecology and Environment Bureau, Municipal Housing and Urban-Rural Development Bureau, Municipal Transportation Bureau, Municipal Government Offices Administration Bureau, Municipal Data Bureau, etc., according to their respective duties.) IV. Leverage Ecological Advantages to Expand the Value Conversion Channels of "Lucid Waters and Lush Mountains" Adhere to the integrated protection and systematic governance of mountains, rivers, forests, farmlands, lakes, grasslands, and deserts, enhance the carbon sink increment of ecosystems, establish blue carbon sink ecological function zones, and establish and improve mechanisms for realizing the value of ecological products. (12) Strengthen carbon sink accounting in ecosystems. Explore the technical system for monitoring, assessing, and accounting carbon sinks in ecosystems, and conduct research on carbon sink measurement in forest, marine, wetland, and other ecosystems. Strengthen research and promotion of technologies for enhancing carbon sinks in ecosystems, promote information sharing on carbon sink projects, and drive the development of the carbon sink industry in ecosystems. Actively develop innovative green financial products such as "carbon sink loans" for various ecosystems. By 2030, strive to become a pioneering area for ecosystem carbon sinks with distinctive features, highlights, and achievements nationwide. (Led by the Municipal Natural Resources and Planning Bureau, with responsibilities shared among the Municipal Ecology and Environment Bureau, Municipal Agriculture and Rural Affairs Bureau, Municipal Market Supervision and Administration Bureau, Yancheng Branch of the People's Bank of China, Rare Bird Reserve, Huanghai Financial Holding Group, etc., according to their respective duties.) (13) Explore the construction of a carbon inclusion system. Explore the development of a carbon inclusion mechanism based on scenarios such as green travel, green consumption, and low-carbon lifestyles, establish personal carbon accounts, and incentivize public participation in emission reduction through the exchange of points for commercial coupons or services. Explore the development of methodologies for carbon inclusion in salt marshes, phytoplankton, shellfish, etc., promote the development of carbon inclusion projects with Yancheng characteristics in forests, wetlands, oceans, etc., and encourage the use of verified emission reductions from carbon inclusion to achieve carbon neutrality for large-scale events. (Led by the Municipal Ecology and Environment Bureau, with responsibilities shared among the Municipal Development and Reform Commission (NDRC), Municipal Natural Resources and Planning Bureau, Municipal Market Supervision and Administration Bureau, Municipal Transportation Bureau, Municipal Commerce Bureau, Huanghai Financial Holding Group, etc., according to their respective duties.) (14) Fully integrate into the national carbon market. Actively organize enterprises in key industries such as coal-fired power, steel, and cement to participate in the national carbon emissions trading market, and strengthen compliance and settlement of carbon emission allowances. Implement a reporting system for greenhouse gas emissions from key carbon-emitting entities, and comprehensively improve the quality management level of carbon emission data from key emitting entities. Support the development of eligible forestry carbon sink projects into voluntary greenhouse gas emission reduction projects and participate in the national voluntary greenhouse gas emission reduction trading. (Led by the Municipal Ecology and Environment Bureau, with responsibilities shared among the Municipal Market Supervision and Administration Bureau, Municipal Natural Resources and Planning Bureau, Huanghai Financial Holding Group, etc., according to their respective duties.) The Leading Group for the Construction of the Municipal Green and Low-Carbon Development Demonstration Zone is responsible for coordinating and advancing the pilot construction of carbon peak achievement across the city. A special municipal-level fund for carbon peak and carbon neutrality will be established to support pilot work in carbon emission statistics, carbon data monitoring, carbon budget management, carbon footprint certification, and ecological carbon sink accounting. Events such as the "National Energy Conservation Promotion Week" and "National Ecology Day" will be organized to promote energy-saving, environmentally friendly, and green production and lifestyles, guiding enterprises and the public to participate in carbon peak efforts. The achievements and highlights of the pilot construction work for carbon peak will be promptly summarized and promoted.

In 2024, the usage of industrial aluminum extrusion in sectors such as automotive, aerospace, marine, high-end equipment, and 3C continued to grow. Simultaneously, the Chinese industrial aluminum extrusion market faced numerous challenges, including cut-throat competition, the emergence of new alternative materials, high and volatile raw material prices, technological bottlenecks, international trade frictions, and the cancellation of export tax rebates. Consequently, in 2025, the primary issue aluminum extrusion enterprises must confront remains how to survive. This necessitates a comprehensive and profound understanding of the industry's current state both domestically and globally, enabling better formulation of corporate strategies to address the increasingly severe industry challenges. However, colleagues in the aluminum extrusion industry must also recognize that challenges bring opportunities. For instance, the "low-altitude economy" actively guided at the national level has introduced new application scenarios for the aluminum extrusion industry. In the NEV sector, annual sales in 2024 are expected to exceed 12 million units, with the average aluminum usage per vehicle also rising. The proportion of aluminum extrusion in sub-sectors such as electric drive housings and threshold beams is also increasing. To cope with the increasingly frequent international trade frictions, many aluminum enterprises and end-users have chosen to expand overseas, investing in factories in Southeast Asia, Mexico, Eastern Europe, and even Africa. Therefore, SMM is preparing to screen enterprises, conducting a survey of industrial aluminum extrusion producers nationwide, and organizing the selection of the top 20 high-quality suppliers of industrial aluminum extrusion in the country, selecting benchmark enterprises. On the other hand, SMM focuses on the direction of industrial development, collaborating with major associations and institutions across the industry chain to jointly create the 2025 Global Industrial Aluminum Extrusion Procurement Guide , aiming to provide aluminum procurement professionals with an authoritative, comprehensive, professional, and market-compliant directory of industrial aluminum extrusion suppliers. This guide serves as a bridge between procurement professionals and aluminum extrusion producers, collectively promoting the industrial aluminum extrusion industry to better meet the challenges of the new era. Therefore, enterprises in the industrial aluminum extrusion sector can submit audit materials as required, summarizing actual production data up to the end of 2024, and apply for inclusion in the procurement guide. After annotation and layout, the materials will be submitted to the Ministry of Natural Resources of the People's Republic of China for review and approval, obtaining the approval drawing number , and then printed and distributed to upstream and downstream industry clients. Additionally, qualified industrial aluminum extrusion producers, related high-quality suppliers, and equipment service providers in the industry chain are invited to participate in the joint creation of the procurement guide, collectively contributing to the healthy and rapid transformation and upgrading of the industrial aluminum extrusion industry. After conducting surveys among frontline aluminum extrusion producers and equipment manufacturers, SMM (Shanghai Metals Market) proudly presents the "2025 Global Industrial Aluminum Extrusion Procurement Guide." This time, Anhui Bolan New Material Technology Co., Ltd. will collaborate with SMM to jointly produce this procurement map, collectively analyzing market trends and exploring the future of the industry! Anhui Bolan New Material Technology Co., Ltd. is a new-type circular economy enterprise invested and established by Tonglu Bowang Industry and Trade Co., Ltd., specializing in the R&D, production, and sales of secondary aluminum products. The company is located in Anhui province, covering an area of 110 mu, and will be constructed in two phases. Phase I covers 62 mu, with a total construction area of 40,000 m². The total planned investment is 300 million yuan. Construction officially commenced in September 2024 and is expected to be completed and put into operation by May 2025. As an innovative force in the secondary aluminum industry, the company has established a complete green production system. Leveraging core equipment such as domestically leading 100T double-chamber melting furnaces, 35-ton tilting refining furnaces, and internal-guide hydraulic casting machines, the company has formed an annual production capacity of 100,000 mt of secondary aluminum billets and aluminum ingots. The production line adopts an intelligent "1+1+3" configuration model, where one 100T circular double-chamber melting furnace, one 60T circular melting furnace, and three 35T circular tilting alloy furnaces operate collaboratively to achieve efficient recycling of aluminum scrap resources. Through the independently innovative "crushing-deironing-sorting" pretreatment process, the company strictly controls the raw material particle size to ≤200*150mm, ensuring 100% clean production of commercially purchased aluminum scrap. The company consistently practices the concept of sustainable development, driving industrial upgrading through technology. By introducing advanced equipment such as the domestically pioneering secondary aluminum circular double-chamber furnace group, the company has established a closed-loop industry chain spanning from aluminum scrap recycling to high-end aluminum material manufacturing. Upon project completion, it is expected to achieve an annual sales revenue of 2 billion yuan, with annual tax payments exceeding 150 million yuan, and provide over 200 job opportunities, effectively promoting the green transformation of the regional economy. Adhering to the mission of "empowering aluminum processing," Anhui Bolan will continue to promote the deep integration of process innovation and intelligent manufacturing, striving to become a benchmark in the secondary aluminum industry with a craftsman's spirit of excellence, injecting new momentum into the low-carbon development of China's aluminum industry. Main Products 6063, 6061, 6005 aluminum billets, as well as 3-series and 5-series alloy aluminum billets. The company also accepts commissioned processing of various grades of alloy aluminum billets and aluminum plate ingots. Slogan Achieve Excellence in Management, Build a First-Class Enterprise, and Create a Renowned Brand Production Equipment Contact Information No. 20, Xingtong Road, Economic Development Zone, Wuhe County, Bengbu City, Anhui Province Chen Jinhui: 18650063711 Chen Xingmao: 183 5812 8555 Joint Production Contact Sun Lingchen Mobile: 15166852590 Landline: 0535-51595891 Email: sunlingchen@smm.cn