The global automotive industry is accelerating its low-carbon and intelligent transformation, with China's automotive industry advancing from scale advantages to dual leadership in technology and supply chain. In 2025, the penetration rate of new energy vehicles in China exceeded 50%, driving the upgrade of automotive materials such as aluminum, steel, and magnesium, with demand for lightweight new materials surging. Coupled with the implementation of the EU carbon border tax, low-carbon transformation of the industry chain is imminent. Coinciding with the beginning of the 15th Five-Year Plan and the deepening phase of the dual carbon goals, the industry urgently needs a professional platform to address material technology challenges. Against this backdrop,will be held on September 10-11, 2026 in Shanghai . SMM together with exclusive drinking water title sponsorship partner - Anhui Xiongchuang Aluminum Alloy New Material Co., Ltd. sincerely invites industry peers to attend the conference, promoting the in-depth evolution of the automotive supply chain toward green, lightweight, intelligent, and global development. Clickto attend. We look forward to meeting you at the conference. Anhui Xiongchuang Aluminum Alloy New Material Co., Ltd. was established in October 2018 with a registered capital of 100 million yuan. Located at No. 12 Yanghuai Road, Economic Development Zone, Suixi County, Huaibei City, Anhui province, it is a private new-type aluminum alloy material enterprise integrating R&D, production, and sales. The company occupies a total land area of 63,603 m², approximately 95.5 mu. The planned total construction area is 32,000 m², with supporting public auxiliary engineering. The total project investment is approximately 150 million yuan, of which construction investment is 95 million yuan. The overall designed capacity is 150,000 mt per year. The main products include various grades of high-quality cast aluminum alloy ingots, aluminum alloy liquid, and secondary aluminum alloy bars, primarily used in automotive, new energy, and other fields . The main production equipment adopts China's advanced high-efficiency and energy-saving automatic melting furnaces, achieving high efficiency, energy conservation, reduced slag formation, and improved aluminum liquid purity. The production equipment, technical level, and economic indicators have reached the advanced level of similar domestic production processes. The company is dedicated to the research and manufacturing of aluminum as a substitute for steel and aluminum as an substitute for copper, promoting the lightweight development of automotive, rail transit, and aerospace components, achieving energy conservation and emission reduction, and protecting the global environment. For every mt of secondary aluminum we recycle, we can reduce ore mining by 11 mt, reduce carbon dioxide emissions by 0.8 mt, reduce sulfur dioxide emissions by 0.6 mt, reduce solid scrap by 20 mt, save 22 m³ of water, and save 14,000 kWh of electricity. Soaring forward with bold strides, breaking through with innovation! Xiongchuang Aluminum Alloy builds its backbone with integrity and forges brilliance with service! In the future, we will fully leverage our industrial advantages, integrate resources from all parties, target market development trends, and create greater value for our clients. Contact Information Mr. Liu 181 0561 3888 Mr. Yang 151 3040 8133 SMM Conference Contact Lv Junlei 176 1601 9596 lvjunlei@smm.cn

[SMM Rare Earth Flash News] The US Department of Energy (DOE) has selected Phoenix Tailings, based in Oklahoma, for funding negotiations to support its construction of a demonstration facility that will produce high-purity rare earth metals from industrial scrap locally. The project aims to develop a new commercial pathway to realize domestic production of heavy rare earth metals. The project is part of the DOE's "Rare Earth Element Demonstration Facility Program" with a total investment of $134 million, but the specific amount reserved for Phoenix Tailings has not been disclosed.

[Waste Lead-Acid Battery Market Update] Lead prices have dropped sharply recently, prompting secondary lead smelters to significantly lower their scrap battery purchase prices by 50-150 yuan/mt to cut costs. Currently, the tax-exclusive quotation for waste lead-acid batteries used in EVs stands at 9,350-9,400 yuan/mt in the market.

[Geopolitical Disturbances Marginally Weaken, Accelerating Destocking Supports Aluminum Prices Fluctuating Upward] On the macro front, Trump once again claimed that US-Iran negotiations have entered the "final moment," but the market has become desensitized to his repeated similar statements, and the geopolitical risk premium is marginally weakening. On the fundamentals side, the supply gap outside China is expected to provide strong bottom support for aluminum prices, and expectations of rising energy costs also form a bullish driver for aluminum prices; however, the high inventory pressure in China remains relatively evident, which is expected to limit the upside room for China's aluminum prices, and in the short term, China’s aluminum prices are expected to mainly fluctuate and adjust.

SMM Morning Meeting Summary: Overnight, LME copper opened at $13,767.5/mt, fluctuated upward in early trading to touch a high of $13,813/mt, before the price center gradually shifted lower to dip to $13,518/mt, eventually settling at $13,559.5/mt, a decline of 0.23%. Trading volume stood at 23,000 lots, open interest at 266,000 lots, down 5,003 lots from the previous trading day, mainly driven by long liquidation. Overnight, the most-traded SHFE copper 2607 contract opened at 105,210 yuan/mt, initially rising to 105,670 yuan/mt, then the price center kept moving lower, touching a low of 103,660 yuan/mt near the close, a decline of 0.34%. Trading volume reached 62,600 lots, open interest 161,000 lots, down 44 lots from the prior session, also reflecting long liquidation.

SMM, June 10 – Overnight, the LME lead 3M contract opened at $1,991/mt. During the Asian session, the price edged down slightly then fluctuated and recovered. In the European session, it touched a high of $2,001.5/mt. After hitting the high, selling pressure from above was released, and the market quickly turned downward. During the session, it dipped to $1,975/mt. At the close, the price underwent a slight correction and finally settled at $1,981/mt, down $7.5/mt, a decline of 0.38%. Overnight, the SHFE lead 2607 contract opened at 16,190 yuan/mt. Initially after opening, the price slightly corrected. Then, short-term buying pushed the price slightly higher, reaching a high of 16,195 yuan/mt for this session. After the high, bulls lacked momentum to sustain, bears gradually took control, and the futures fluctuated downward. The price declined step by step, touching a low of 16,075 yuan/mt, and finally settled at 16,095 yuan/mt, recording a five-day losing streak, down 75 yuan/mt, a decline of 0.46%. Demand side, end-use consumption is weak, the peak season recovery has fallen short of expectations, and downstream stockpiling is cautious. Lead ingot inventory side, destocking is weak, inventories are gradually stabilizing, and expectations of inventory buildup are rising. Sentiment side, the most-traded SHFE lead contract has recorded a five-day losing streak, short positions are gradually increasing, and bearish sentiment is dominating in the short term. However, amid the sustained decline in lead prices, secondary lead smelters are holding prices firm and holding back from selling due to losses, coupled with cost support from scrap batteries below, providing some phased support to limit the downside room for lead prices.

Futures: Overnight, the LME lead 3M contract opened at $1,991/mt, edged down slightly during Asian hours before fluctuating higher, hit a high of $2,001.5/mt in the European session, after which overhead selling pressure was released and the market quickly turned downward, dipping to $1,975/mt during the session. Prices corrected slightly in late trading and finally settled at $1,981/mt, down $7.5/mt or 0.38%. Overnight, the SHFE lead 2607 contract opened at 16,190 yuan/mt. Early in the session, prices saw a slight correction, then short-term buying pushed prices slightly higher to a session high of 16,195 yuan/mt. After the high, bulls lacked follow-through, bears gradually took control, and futures fluctuated downward, with prices moving lower in steps to 16,075 yuan/mt, finally settling at 16,095 yuan/mt, posting a five-day losing streak, down 75 yuan/mt or 0.46%. On the macro front: The U.S. military launched strikes against Iran over a helicopter incident, and Iran said it would respond resolutely. Trump: May participate in rebuilding Iran, but wants half the oil. Vance: A deal could be reached in the near term, but “definitely” before the midterm elections. U.S. media disclosed four major topics in U.S.-Iran nuclear talks. The EU plans to unveil its 21st round of sanctions against Russia. According to Nikkei: The Bank of Japan plans to raise rates to 1% at its June meeting. China's goods trade imports and exports grew 15.3% in the first five months. The U.S. added Alibaba, BYD, and others to its “military-related” list. Foreign Ministry: Urges the U.S. to stop unreasonable suppression of Chinese companies. Spot Fundamentals: In the morning, SHFE lead tumbled sharply, nearing the 16,000 mark. Suppliers diverged in their selling strategies, with a few still offering at discounts while most narrowed their discount quotes. In particular, smelters showed strong reluctance to sell at low prices, with some only selling under long-term contracts. Mainstream primary lead smelters offered electrolytic lead at parity with the SMM #1 lead average price EXW. In the secondary lead sector, smelters were reluctant to sell at low prices, with most halting shipments. Some secondary refined lead was offered at premiums of 0-50 yuan/mt over SMM #1 lead EXW, resulting in an inverted relationship with primary lead. Downstream enterprises’ rigid demand favored the primary lead market, mainly sourcing cargoes self-picked up from production sites. The market saw both wait-and-see sentiment and dip-buying. Inventory: As of June 9, LME lead inventory decreased by 1,200 mt to 308,050 mt. As of June 8, total social inventory of SMM lead ingots across five regions stood at 64,700 mt, down 2,100 mt from June 1 and down 2,400 mt from June 4. Today's Lead Price Forecast: Demand side, end-use consumption is weak, peak-season recovery fell short of expectations, and downstream stockpiling remains cautious. On the lead ingot inventory front, destocking has been weak and has gradually stabilized, while expectations of inventory buildup are intensifying. On the sentiment front, the most-traded SHFE lead contract has posted five consecutive losses, with short positions gradually increasing and bearish sentiment gaining the upper hand in the short term. However, amid the persistent decline in lead prices, secondary lead smelters, facing losses, are holding prices firm and holding back from selling. Coupled with cost support from scrap batteries below, the downside room for lead prices finds some phased support.

Overall, the secondary lead market will remain in a pattern of "weak cost support and strong consumption suppression" in the short term. Smelter production resumptions in June will find it difficult to fully offset previous cuts, with the supply side showing marginal improvement but remaining tight. Lead prices will continue to fluctuate weakly.

[SMM Analysis：Rare Earth Scrap Recycling Slows as Tax Compliance Tightens, Impacting Production Rates]Recently, multiple rare earth scrap recycling enterprises reported that operating rates may decline in June-July. Large enterprises, with a higher proportion of self-procurement, are seeing more significant production reductions; small and medium-sized enterprises, relying less on self-procurement and more on processing orders, are relatively less affected.

Turkey's billet and bloom imports reached 1.68 million metric tons (mt) in the January-April 2026 period, representing a massive 53.9% year-on-year surge, with total import value up 47.4% to $825.29 million. Russia emerged as the top supplier with 474,046 mt (up 128.7% year-on-year), followed by China with 378,552 mt (up 269.7%), displacing Malaysia which fell 47.7% to 190,615 mt. Despite a 27.3% month-on-month drop in April to 402,539 mt, the robust cumulative volume highlights that elevated domestic scrap prices have driven Turkish buyers to aggressively restock imported semis. The structural pivot towards competitively priced Russian and Chinese billets continues to reshape local cost margins, directly impacting Turkey's rebar export competitiveness.