To all relevant organizations: As the new round of global technological revolution and industrial transformation advances in depth, the non-ferrous metal processing industry is embracing critical opportunities for high-quality development. As a vital basic industry for the national economy, innovation in non-ferrous metal processing technologies and equipment upgrades hold great significance for driving the high-end, intelligent, and green development of the manufacturing sector. With its abundant mineral resources, solid industrial foundation, and unique regional advantages, West China has become a key cluster for the country’s non-ferrous metal processing industry, and the pace of technological innovation and industrial upgrading continues to accelerate. Against this backdrop, the "2026 China Mid-West Non-Ferrous Metal Industry Equipment and Technology Expo" will be grandly held at the Gansu International Convention and Exhibition Center from October 30 to November 1, 2026. Themed "Innovation-driven, Smart Future, Green Empowerment," this expo will focus on cutting-edge technologies, advanced equipment, and industry trends in the non-ferrous metal processing sector, aiming to create a high-level platform integrating technical exchanges, achievement displays, and business cooperation. The event will comprehensively showcase the latest achievements in non-ferrous metal smelting, intensive processing, intelligent manufacturing, energy conservation, and environmental protection, bringing together industry experts, enterprise leaders, and research institution representatives to jointly explore new paths and opportunities for industrial development. As a major industrial base in north-west China and a key period along the Belt and Road, Gansu is actively promoting the high-end, clustered, and green transformation of the non-ferrous metals industry. The hosting of this expo will not only inject new momentum into the high-quality development of the non-ferrous metal industry in the north-west region but also provide an important opportunity for industry peers from China and overseas to deepen cooperation and share a prosperous future. We sincerely invite experts, scholars, enterprise representatives, and industry peers from home and abroad in the non-ferrous metal processing sector to gather in Jincheng Lanzhou, jointly explore technological innovation, share development opportunities, and contribute to the transformation, upgrading, and sustainable development of China's non-ferrous metal processing industry. The Expo is scheduled for October 30 – November 1, 2026 at the Gansu International Convention and Exhibition Center. Relevant matters are hereby notified as follows: I. Expo Theme Green Smart Manufacturing · Innovation-driven · Coordinated Development II. Date and Venue Date: October 30 – November 1, 2026 Venue: Gansu International Convention and Exhibition Center III. Organizational Structure Organizers: Gansu Provincial Society for Metals Shaanxi Provincial Society for Metals Shanxi Provincial Society for Metals Henan Provincial Society for Metals Sichuan Provincial Society for Metals Gansu Provincial Mining Federation Co-organizers: Northwest Research Institute of Mining and Metallurgy Baiyin Nonferrous Group Co., Ltd. Jiuquan Iron and Steel (Group) Co., Ltd. Jinchuan Group Co., Ltd. Supporters: Lanzhou Engineering & Research Institute of Nonferrous Metallurgy Co., Ltd. Gansu Provincial Nonferrous Metals Geological Exploration Bureau Lanzhou University of Technology Chalco Lanzhou Aluminum Co., Ltd. Gansu Ferroalloy Association Jinhui Mining Co., Ltd. IV. Concurrent Events: 2026 China Mid-West Aluminum Industry Expo 2026 China Mid-West Casting & Die Casting, Forging, Heat Treatment & Industrial Furnace Expo V. Exhibition Scope: Non-ferrous metal raw materials: Nickel, vanadium, titanium, chromium, tungsten, copper, aluminum, magnesium, zinc, lead, manganese, zirconium, molybdenum, silicon, antimony, tin, tantalum, indium, and other non-ferrous metal ore products and raw materials, magnetic materials, rare and rare-earth materials, precious metal materials, and various alloy materials; Non-ferrous metal products: Copper products (tubes, sheets & plates, sheets, bars, strips, flats and their alloy products, etc.); aluminum products (aluminum alloy profiles, tubes, bars, sheets & plates, strips, foils, aluminum sheets, aluminum ingots, etc.); titanium alloy products; magnesium alloy products; powder metallurgy products, etc.; Non-ferrous metal mining technology and equipment: Non-ferrous mining exploration, extraction, and beneficiation equipment, filtration equipment, powder processing equipment, construction and transportation equipment, etc.; Non-ferrous metal smelting technology and equipment: Smelting furnaces, refining equipment, smelting pumps and valves, filtration equipment, conveying equipment, heat exchange equipment, gas-based acid production equipment, corrosion-resistant equipment, hydrometallurgy, electrolysis equipment, large power rectifier power supply, electrolytic cells, extraction equipment, etc.; Non-ferrous metal processing technology and equipment: Melting, heating, hot and cold rolling, extrusion, drawing, straightening, shearing, casting equipment, etc.; Non-ferrous metal environmental protection equipment: Recycling equipment, energy-saving and emission-reduction equipment; Non-ferrous metal automation control equipment: Instruments and meters, packaging equipment, surface treatment equipment, etc.; Auxiliary materials for non-ferrous metal production: Chemicals, solvents, refractory materials, catalysts, gases, lubricants, etc. VI. Event Arrangements (I) Opening Ceremony: Speeches by leaders and guests; exhibition tour. (II) Theme Forums: 1. Forum on the Green Transformation Pathway for the Metallurgical Industry Under the "Dual Carbon" Goals 2. Forum on Smart Factories Empowering Metal Processing Upgrades 3. Application of Digital Twin Technology in Smelting/Casting/Heat Treatment Processes 4. Building the Non-Ferrous Metal Supply Chain Along the Belt and Road 5. Frontier Forum on Green, Low-Carbon, and Intelligent Smelting 6. Focusing on Technological Innovation and Intelligent Upgrading in the Metallurgical Industry Under the "Dual Carbon" Goals (III) Expo Exhibition Setup: October 28–29, 2026 Exhibition Dates: October 30 – November 1, 2026 Venue: Gansu International Convention and Exhibition Center VII. Participants The China Mid-West Non-Ferrous Metal Industry Equipment and Technology Expo, centered on "high-end, green, and regionalized" themes, will precisely invite large smelters, equipment manufacturers and technology suppliers, experts and scholars from universities and research institutes, professionals focused on new materials, new processes, and new technologies for non-ferrous metals, aerospace and national defense sectors, automotive and rail transit, construction and home furnishings, local government agencies, industry associations, and chambers of commerce, enterprises involved in aluminum semis import and export trade, as well as logistics, warehousing, and supply chain management companies. Covering multiple sectors such as equipment manufacturers, research institutions, end-use applications, government bodies, and trade service providers, this will form a diverse group of professional attendees and promote industry exchange and cooperation. VIII. Publicity and Promotion Before, during, and after the event, publicity and coverage will be carried out through platforms such as the official website, official account, Baidu promotion, WeChat Video, Douyin, Kuaishou, Weibo, Xiaohongshu, and Zhihu. The expo’s opening ceremony is planned to be widely promoted via a full live broadcast on the Video platform.

According to SMM estimates, China's refined bismuth production in July 2026 will significantly increase by approximately 13.5% MoM compared to June's national refined bismuth output. Market participants believe this increase is within a reasonable range, which also indirectly reflects the reasons behind the recent period of weaker market prices. Note: Since October 2022, SMM has been publishing its assessed national refined bismuth production. Thanks to SMM's high coverage rate of the bismuth industry, SMM's survey includes a total of 24 refined bismuth producers distributed across 8 provinces nationwide, with total sample capacity exceeding 50,000 mt and total capacity coverage rate above 99%. This report is an original work and/or compilation by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"). SMM legally owns the copyright and is protected by the Copyright Law of the People's Republic of China and other applicable laws, regulations, and international treaties. Without written permission, no part of this report may be reproduced, modified, sold, transferred, displayed, translated, compiled, disseminated, or otherwise disclosed to third parties, nor may third parties be licensed to use it. Otherwise, upon discovery, SMM will pursue legal action for infringement, including but not limited to claiming contractual breach liability, returning unjust enrichment, and compensating for direct and indirect economic losses. The contents of this report, including but not limited to information, articles, data, charts, images, audio, video, logos, advertisements, trademarks, trade names, domain names, layout designs, and any or all information, are protected by the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other laws, regulations, and applicable international treaties regarding copyright, trademark rights, domain name rights, commercial data property rights, and other rights, and are owned or held by SMM and its related rights holders. Without written permission, no institution or individual may reproduce, modify, use, sell, transfer, display, translate, compile, disseminate, or otherwise disclose the above contents to third parties, nor may they license third parties to use them. Otherwise, upon discovery, SMM will pursue legal action for infringement, including but not limited to claiming contractual breach liability, returning unjust enrichment, and compensating for direct and indirect economic losses. *All data in this report are based on publicly available market information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, broker reports, National Bureau of Statistics (NBS) data, customs import and export data, various data published by various associations and institutions, etc.), and relying on SMM's internal database models, are comprehensively processed internally by the SMM research team, providing reasonable inferences. The information provided in the report is for reference only, and risks are borne by the user. This report does not constitute direct investment research advice. Clients should make prudent decisions and should not substitute this for independent judgment. Any decisions made by clients are unrelated to SMM. Furthermore, any losses and liabilities arising from unauthorized or illegal use of the views in this report are unrelated to SMM. SMM reserves the right to modify and the final interpretation of the terms of this statement.

Based on SMM estimates, China's antimony ingot production (including antimony ingot, crude antimony converted, antimony cathode, etc.) in July 2026 was up about 30% MoM, showing a sharp increase. Regarding the sharp increase in July, some market participants considered it a normal phenomenon, as customs data showed that antimony ore imports from outside China each exceeded 10,000 mt in April, May, and June, and the large volume of ore imports would inevitably translate into higher antimony ingot production. Note: Since May 2022, SMM has published its assessed national antimony ingot production (including antimony ingot, crude antimony converted, antimony cathode, etc.). Thanks to SMM's high coverage of the antimony industry, the survey covers a total of 33 antimony ingot producers across 8 provinces, with total sample capacity exceeding 20,000 mt and a total capacity coverage rate of over 99%. This report is an original work and/or compilation created by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"), and SMM legally owns the copyright, protected by the Copyright Law of the People's Republic of China and other applicable laws, regulations, and international treaties. Without written permission, no reproduction, modification, sale, transfer, display, translation, compilation, dissemination, or disclosure of the above content to any third party in any form, or licensing any third party to use it, is allowed. Once discovered, SMM will pursue legal liability for infringement, including but not limited to claims for breach of contract, restitution of unjust enrichment, and compensation for direct and indirect economic losses. The content contained in this report, including but not limited to any or all information such as news, articles, data, charts, pictures, images, sounds, videos, logos, advertisements, trademarks, trade names, domain names, layout designs, etc., is protected by the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other applicable laws, regulations, and international treaties concerning copyright, trademark rights, domain name rights, commercial data information property rights, and other rights, and is owned or held by SMM and its relevant right holders. Without written permission, no institution or individual may reproduce, modify, use, sell, transfer, display, translate, compile, disseminate, or otherwise disclose the above content to any third party, or license any third party to use it. Once discovered, SMM will pursue legal liability for infringement, including but not limited to claims for breach of contract, restitution of unjust enrichment, and compensation for direct and indirect economic losses. *All data in this report are based on publicly available market information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, broker reports, National Bureau of Statistics (NBS) data, customs import and export data, data published by various associations and institutions, etc.), processed internally by the SMM research team using SMM’s internal database models, and reasonable inferences are drawn. The information provided in this report is for reference only and at your own risk. This report does not constitute direct investment research or decision-making advice. Clients should make decisions prudently and not substitute this for their own independent judgment. Any decision made by the client is not related to SMM. Furthermore, any losses or liabilities arising from unauthorized or illegal use of the views in this report are not related to SMM. SMM reserves the right to amend and the final interpretation of the terms of this statement.

Recently, Jiangsu Guoling Zhixiang Aviation Technology Co., Ltd. was officially established, with its legal representative being Zou Pinfang and a registered capital of $10 million. Equity information shows that Jiangsu Guofu Hydrogen Energy Technology Equipment Co., Ltd. holds 65% of the shares, corresponding to a capital contribution of $6.5 million; HYLIUM INDUSTRIES, INC. holds the remaining 35% equity. The new company's business scope covers R&D of new materials and new energy technologies, technical consulting, and achievement transformation, and also involves manufacturing or sales of products such as new energy prime mover equipment, generator sets, batteries, gas and liquid separation and purification equipment, and hydrogen refueling and storage facilities for stations. In the aviation sector, the company's operating items include manufacturing and sales of intelligent unmanned aerial vehicles, sales of specialized instruments for navigation, surveying, meteorology, and oceanography, and sales of aviation transportation equipment and civil aviation materials. Additionally, its business extends to areas such as software development, artificial intelligence application system integration, intelligent control system integration, industrial design, equipment leasing, and import and export of goods and technologies. The establishment of this joint venture further broadened Guofu Hydrogen Energy's business layout in the new energy equipment and aviation technology fields, and also provided a new industrial carrier for the application of hydrogen energy technology in drones and related aviation scenarios.

SMM July 31 – In terms of imports and exports, according to data from the General Administration of Customs of China, from January to June 2026, China's cumulative alumina imports reached 2.277 million tonnes, up a substantial 749.1% year-on-year; cumulative exports stood at 1.609 million tonnes, up 19.8% year-on-year; resulting in a net import of 668,000 tonnes, with the net import pattern continuing to widen. By import origin, Australia remained the largest supplier, with cumulative imports of 1.643 million tonnes in H1, accounting for 72.14% of total imports—compared to just 495,000 tonnes for the full year of 2025. Imports from Indonesia reached 398,000 tonnes, accounting for 17.5%, already exceeding the full-year 2025 volume of 310,000 tonnes. Overall import volumes continue to climb. In terms of port inventories, as of July 30, alumina stocks at major Chinese ports stood at approximately 940,000 tonnes, indicating that overseas alumina continues to exert pressure on the domestic market. So far, at least six cargoes of imported alumina are known to be arriving in August, with imports of around 210,000 tonnes already confirmed, and more shipments are expected to follow. On the export side, China exported 1.022 million tonnes of alumina to Russia in H1, accounting for 63.5% of total exports, keeping Russia as China's largest alumina export destination. Meanwhile, exports to Oman, the UAE, and Saudi Arabia reached 294,000 tonnes, 159,000 tonnes, and 34,000 tonnes, respectively, collectively accounting for 30.3% of total exports. Geopolitical tensions in the Middle East remain unresolved. Although some production capacity has resumed, key shipping lanes remain blocked, forcing cargoes to be rerouted via overland transport. As a result, some overseas alumina needs to be shipped to China for rebagging into sacks before being re-exported to the Middle East, which explains why export volumes to these three countries have not declined thus far. Overall, although overseas alumina prices have risen recently, both import and export volumes are expected to remain elevated, and the net import pattern is likely to continue in July. On the overseas market front, the global alumina market remained in surplus in July. As of July 31, the lowest spot transaction price overseas was $325/mt FOB Western Australia, equivalent to approximately RMB 2,868.8/tonne at major domestic ports including VAT.

SMM, July 31: Import and export side, According to data from China's General Administration of Customs, from January to June 2026, China's cumulative alumina imports were 2.277 million mt, up 749.1% YoY; cumulative exports were 1.609 million mt, up 19.8% YoY; and cumulative net imports were 668,000 mt, with the net import pattern continuing to expand. On the import source side, Australia remained the top supplier, with cumulative imports of 1.643 million mt in H1, accounting for 72.14% of total imports, compared to just 495,000 mt imported from Australia in full-year 2025. Imports from Indonesia were 398,000 mt, representing 17.5%, also exceeding the total import volume of 310,000 mt for all of last year. Overall import volumes continued to climb. In terms of port inventory, as of July 30, alumina inventory at major Chinese ports stood at about 940,000 mt, and the impact of overseas alumina on the Chinese market persisted. As of now, at least six vessels of imported alumina are known to have arrived in August, with import volumes of about 210,000 mt, and additional cargoes are expected to arrive gradually. On the export side, from January to June, China's alumina exports to Russia were 1.022 million mt, accounting for 63.5% of total exports, with Russia remaining China's top export destination for alumina. Meanwhile, exports to Oman, the UAE, and Saudi Arabia were 294,000 mt, 159,000 mt, and 34,000 mt respectively, totaling 30.3% of exports. The geopolitical conflict in the Middle East remains unsettled; although some capacity has resumed production, key strait passages are blocked, forcing cargoes to be transported overland. This has caused some overseas alumina to be shipped to China for repackaging into bags before being sent to the Middle East, so exports to these three countries have not yet declined. Overall, although overseas alumina prices have risen recently, China's import and export volumes are expected to remain high, and the net import pattern is likely to continue in July. Overseas market side, In July, the overseas alumina fundamentals maintained a surplus. As of July 31, the lowest spot transaction price was $325/mt (FOB Western Australia), equivalent to an EXW selling price of about yuan 2,868.8/mt at major Chinese ports. (The above information is based on market collection and comprehensive assessment by the SMM research team, and the information provided is for reference only. This article does not constitute direct investment research advice. Clients should make prudent decisions and not rely solely on this information as a substitute for their own independent judgment. Any decisions made by clients are not related to SMM.) Data source: SMM

As of July 24, the premium for 6063 aluminum billets in major Southeast Asian markets remained stable throughout July, with no adjustments for four consecutive weeks. Among them, the local ex-works premium average for 6063 homogenized aluminum billets in Cambodia was $300/mt; the local ex-works premiums for 6063 homogenized aluminum billets in Malaysia and Thailand were both $262.5/mt; the local ex-works premium for 6063 non-homogenized aluminum billets in Thailand was $222.5/mt; and the local ex-works premium for 6063 non-homogenized aluminum billets in Vietnam was $205/mt. The assessed range for CIF premium of 6063 non-homogenized aluminum billets exported from China to Thailand remained between -$100 and +$100/mt, with a midpoint of $0/mt. From a price trend perspective, the premiums for 6063 homogenized aluminum billets in Thailand and Malaysia pulled back in June from their highs in May, and the price center temporarily stabilized after entering July. However, the stability of premiums did not indicate an improvement in market demand. The MJP for Q3 2026 settled at $395/mt, up $43.5/mt from $351.5/mt in Q2, an increase of approximately 12.4%, remaining at a historically high level. As the all-in reference price for Southeast Asian aluminum billets is mainly composed of the LME spot settlement price, MJP, and premium, the rise in MJP further drove up local procurement costs for billets, somewhat dampening downstream purchase willingness. Meanwhile, China's exported aluminum billets continued to compete with locally produced billets in Southeast Asia. Taking the Thai market as an example, the CIF premium range for 6063 non-homogenized aluminum billets exported from China was -$100 to +$100/mt, significantly lower than the ex-works premium of $222.5/mt for locally produced non-homogenized billets in Thailand. Although the delivery terms and specific cost structures of the two supply sources are not entirely identical, Chinese export cargoes still held a strong competitive advantage in terms of landed price. According to SMM market surveys, some Chinese export cargoes consisted of secondary aluminum remelt billets with relatively low production costs, while others were produced under a processing trade with supplied materials before being exported, offering relatively competitive overall trade costs. Driven by price differences, purchases of Chinese aluminum billets in Southeast Asian markets increased, squeezing orders from local producers. As aluminum billets and ingots share a combined HS code in existing customs statistics, it is currently difficult to separately quantify the supply growth of billets through import and export data, and relevant assessments are mainly based on SMM survey feedback. Supply side, in July, the situation in the Middle East tightened again, continuing to affect shipping on Asia-Europe routes, and the shipment of Southeast Asian aluminum billets to the European market was somewhat restricted. Some cargoes that had originally planned to be exported to Europe were instead diverted for sale in the local Southeast Asian and surrounding markets, further increasing regional supply absorption pressure. Demand side, the growth in local aluminum billet consumption in Southeast Asia is limited, not enough to fully absorb the supply diverted back to the local market by local producers and the new supply from China. Weighed down by intensified supply competition, high procurement costs, and weak end-use demand, overall deals in the Southeast Asian aluminum billet market were subdued in July. Although premiums in various regions have not yet seen further declines, actual procurement pace slowed down, and buyers' willingness to bargain increased. Looking ahead to the near term, with Q3 MJP staying high, Chinese exports continuing to maintain a price advantage, and limited diversion capacity of the European market, the premium for locally produced aluminum billet in Southeast Asia is expected to still lack clear upward momentum. High MJP will continue to support the all-in price of aluminum billet, but if local consumption does not show significant improvement, the pressure to digest regional supply may persist, and market transactions are expected to remain in the doldrums. To get closer to buyers' target transaction levels and cope with the price competition from Chinese exported aluminum billet, some billet sellers in Southeast Asia may need to either lower premiums, make concessions on MJP pricing, or adopt more flexible pricing methods such as spot MJP to facilitate deals.

"Tin" Leading the Future: Industrial Transformation and Value Reshaping in a New Cycle Conference Background Currently, the global tin industry is at a historic turning point, traditional cyclical logic has been completely broken, and its strategic value has been fully underscored. In 2026, the tin market is presenting an unprecedentedly complex pattern and profound transformation: 1. Supply-Demand Pattern Undergoes Profound Restructuring, Strategic Attributes Elevated to Unprecedented Levels The global static reserve-to-production ratio of tin resources is only 14 years, with scarcity becoming increasingly pronounced. The supply side faces "triple pressures": Myanmar's production resumptions have been repeatedly disrupted, Indonesia's policies continue to tighten, and geopolitical risks in the DRC remain elevated. Resource constraints have become the new normal. Meanwhile, the demand structure is undergoing a fundamental shift, and tin has become a strategic resource linking traditional manufacturing and the digital future. 2. Price System Breaks Through Historical Highs, Industry Ecosystem Faces Restructuring In early 2026, SHFE tin prices broke through 470,000 yuan/mt, hitting an all-time high. This price breakthrough is not only a manifestation of supply-demand imbalance, but also a symbol of the value revaluation of the tin industry. Traditional trade models, risk management systems, and supply chain collaboration methods all urgently need innovative breakthroughs. 3. Technology-Driven and Green Transformation Foster a New Symbiotic Ecosystem Digital and intelligent technologies are deeply empowering the tin industry chain, the global green transition requires the tin industry to upgrade toward low-carbon and circular economy, recycled tin recovery and green smelting processes become the necessary path. All segments of the industry chain must shift from competition to collaboration, building an open, resilient, and innovative symbiotic system. Against this backdrop, August 19-21, 2026 in Changsha, Hunan held 2026 SMM (16th) Tin Industry Chain Conference will gather global industry elites to explore together. Hongchen Metals Trading Co., Ltd. will attend this grand event, discuss industry development trends with industry peers, and jointly promote the tin industry to new heights. Click to register now to attend, jointly witness and participate in this extraordinary and far-reaching industry event, and co-create a brilliant new chapter! Founded in April 2012, Hongchen Metals Trading Co., Ltd. is headquartered in Beijing, with representative offices in Shanghai, Yunnan, Tianjin, Hong Kong, and Thailand. After years of development, the company has built a comprehensive metals trading platform integrating import and export trade and domestic sales. Our core business focuses on tin ore, tungsten ore, tantalum-niobium ore, tin ingot, and other non-ferrous metals, earning broad recognition in and outside China. The company has an experienced trading and research team that has accumulated deep expertise and experience in non-ferrous metals industry operations, market price trends, trading and business execution, and has built strong upstream and downstream industry chain resources and warehousing and logistics networks, with business spanning major non-ferrous metal producing and consuming regions globally. Upholding the "integrity-based, service first" business philosophy, the company consistently serves every client with a professional, dedicated and responsible attitude. Looking ahead, Hong Kin Metals will deepen strategic collaboration with global partners, further expand its business scope in import and export trade and the integration of futures and physicals, while strengthening internal operational efficiency, continuously enhancing industry expertise and enriching resources in and outside China, striving to become a first-class non-ferrous metal trading service provider in the industry. Hong Kin Metals was established in April 2012, with its headquarters in Beijing. It has also set up representative offices in Shanghai, Yunnan, Tianjin, Hong Kong and Thailand. After years of development, the company has built a comprehensive metal trading platform integrating import and export trade and domestic sales. Our business focus on tin, tungsten, tantalum and other non-ferrous metals, and has gained wide recognition in both domestic and international markets. The company has accumulated profound expertise and experience on market price trends, transactions and operations in the metals industry with an experienced trading and research team. We have established a strong upstream and downstream industrial chain resources, warehousing and logistics network, with operations in major non-ferrous metals producing and consuming regions around the world. Hong Kin Metals adhering to the "integrity-based, service first" business philosophy, has always been professional, conscientious, responsible attitude to serve every customer. Hong Kin Metals will deepen the strategic cooperation with global partners, further expand the business scope of trading, enrich China and the global resources, and strive to be as a first-class trading company in the industry. Contact Cui Juan 18501019852 Mo Naiyun 15300056805 Long press and scan to register now 2026 SMM (16th) Tin Industry Chain Conference

[SMM Analysis: Import and Export Market Analysis of China's Copper Foil Industry in H1 2026] According to data from the General Administration of Customs, China's cumulative copper foil exports in January–June 2026 were 39,700 mt, up 72.83% YoY; cumulative copper foil imports in January–June were 45,100 mt, up 12.17% YoY, with import growth significantly lower than export growth...

Price Dynamics of Non-Oriented Silicon Steel Shanghai B50A800 Grade: 4,380-4,380 yuan/mt Guangzhou B50A800 Grade: 4,200-4,200 yuan/mt Wuhan 50WW800 Grade: 4,280-4,250 yuan/mt Shanghai Market: This week, spot prices of cold-rolled non-oriented silicon steel in the Shanghai market were in the doldrums, with some grades falling by 50-100 yuan/mt, and overall transaction performance was sluggish. Market feedback indicated that ferrous metals futures weakened this week, providing insufficient cost support for silicon steel. Additionally, downstream motor enterprises maintained a slow procurement pace, leading to a lack of improvement on the demand side. Traders generally reported sluggish transactions and mostly chose to offer small discounts when selling. However, firm ordering costs from state-owned steel mills provided some support to spot prices. Overall, spot prices of cold-rolled non-oriented silicon steel in the Shanghai market are expected to remain in the doldrums next week. Guangzhou Market: This week, the cold-rolled non-oriented silicon steel market in Guangzhou was in the doldrums, with relatively sluggish transaction performance. Market feedback indicated that HRC futures continued to decline this week, dampening market confidence. Downstream procurement enthusiasm was low, and traders focused on actively selling and recovering funds. The overall trading atmosphere was sluggish, but inventory levels were not high, and sales pressure was moderate. Overall, spot prices of cold-rolled non-oriented silicon steel in the Guangzhou market are expected to remain in the doldrums next week. Wuhan Market: This week, cold-rolled non-oriented silicon steel prices in the Wuhan market were in the doldrums, with most grades falling by 30-50 yuan/mt and transaction performance being sluggish. Market feedback indicated that traders slightly lowered their spot quotations, but downstream purchasing enthusiasm was mediocre, dominated by just-in-time procurement. The overall trading atmosphere was relatively sluggish. Overall, spot prices of cold-rolled non-oriented silicon steel in the Wuhan market are expected to remain in the doldrums next week. Data Source Statement: (In addition to publicly available information, the data in this report are derived from public sources (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, NBS data, customs import and export data, and various data published by major associations and institutions), market communication, and SMM’s internal database models. They have been obtained through comprehensive analysis and reasonable inference by the research team. They are for reference only and do not constitute decision-making advice. SMM reserves the right of final interpretation of this statement and the right to adjust and modify the statement content according to actual circumstances.