Leveraging the dual-carbon strategy and the broader trend of circular economy development, China's secondary metal industry leads the world in scale, while also facing numerous development challenges. To help enterprises seize industry policy and market opportunities and address industry development issues, SMM will hold the 2026 SMM Global Secondary Metal Industry Summit Forum & Secondary Aluminum Melting and Casting Technology Forum in Ningbo, Zhejiang, July 16-17, 2026 , a landmark event — 2026 SMM Global Secondary Metal Industry Summit Forum & Secondary Aluminum Melting and Casting Technology Forum . Wuhan Hongjin Metal Aluminum Co., Ltd. sincerely invites you to join us in witnessing and building an international platform for exchange, cooperation, resource sharing, and collaborative innovation, contributing to the construction and improvement of a global resource circular utilization system and driving the global green economic transition. Click the to register now. Booth No.: E6 Hongjin New Materials Group has been deeply engaged in the cast aluminum alloy sector for 30 years and is a leader with over 10 billion yuan in revenue, integrating R&D, production, and services. The Group has established 10 modern production sites and 2 provincial-level new materials research institutes worldwide, with green low-carbon aluminum alloy capacity exceeding 1.2 million mt in 2025. We are committed to providing aluminum alloy ingots, direct molten aluminum supply, and one-stop lightweight solutions. Our independently developed large-scale integrated die-casting heat-treatment-free aluminum alloy is ready for mass production. Our products are widely used in cutting-edge fields such as NEVs and 5G communications, and we are a designated supplier for top 100 automakers including Tesla, BYD, and BBA, as well as Google and Amazon. Hongjin New Materials is fully committed to green and low-carbon practices, "casting the future" together with global partners. I. Enterprise Strengths 1.5 million mt+ : Annual green low-carbon aluminum alloy capacity in 2025 10 billion + : Annual Group revenue 10 Major Sites : Based in China (south China/central China/east China), with expansion outside China 2 Major Institutions : Two provincial-level new materials research institutes II. Core Products and Services Providing you with one-stop lightweight solutions from materials to processes: Core Services : Premium aluminum alloy ingot supply | Direct molten aluminum supply | Integrated melting and holding services Specialty Patented Materials : High thermal conductivity, high electrical conductivity, high strength and toughness, and high wear-resistant aluminum alloys Industry Frontier : Large-scale integrated die-casting heat-treatment-free aluminum alloy (approved by OEMs, ready for mass production) Full Grade Coverage Standard Series : Mainstream grades including ADC12, A380, A356, ALSI10MNMG, etc. Exclusive Patented Series : HJ Series (HJ03-16), HCS09, HS330, and many other proprietary grades. III. World-Class Partner Network Products are widely used in core sectors including automotive, new energy, low-altitude economy, and 3C electronics. Globally Renowned Automakers : BMW, Mercedes-Benz, Audi, Volkswagen, General Motors, Toyota, Honda, Nissan New Energy Pioneers : Tesla, BYD, NIO, XPeng, Xiaomi, Geely Technology and Ecosystem Giants : CATL, DJI, Inovance ( Designated qualified supplier for Google and Amazon ) IV. Green, Low-Carbon, and Quality Commitment Safeguarding your supply chain security with the highest international standards: System Certifications : IATF 16949, ISO 9001 / 14001 / 45001 / 50001:2018 Green Development : Completed carbon footprint and greenhouse gas verification, deeply engaged in advancing ESG and ASI (Aluminium Stewardship Initiative) initiatives. Contact Information Sales Center: Hongbang Team - Sales Director - Yang Zhenjiang 139 2263 2929 South China Team - Sales Director - He Chijia 138 2754 9148 East China Team - Sales Director - Han Yaobin 159 5327 5580 Central China Team - Sales Director - Li Hongwei 136 1832 5655 Website: SMM Conference Contact Zhou Shiyang Mobile: 17278238856 Email:

Since late April, aluminum billet processing fees in China's three major consumption regions staged a strong rebound, with South China taking the lead. Processing fees of φ120 aluminum billets (Guangdong) hit a Q2 low of -40 yuan/mt on April 16, then surged rapidly, approaching the 500 yuan/mt mark by month-end in May, and reaching a new yearly high of 490 yuan/mt on May 28. SMM believed there were three main reasons...

According to SMM statistics, on May 28, aluminum billet inventory in China's major consumption regions fell to 181,500 mt, a significant destocking of 24,000 mt WoW, successfully pulling back below the 200,000 mt threshold. Warehouse withdrawals during the week climbed to 58,900 mt, up 3,200 mt WoW, hitting a new periodic high.

SMM May 29 News: During the day, the most-traded SHFE lead 2607 contract opened at 16,570 yuan/mt. At the beginning of the session, SHFE lead prices briefly moved higher, touching a high of 16,645 yuan/mt, before pulling back in a fluctuating manner. In the later part of the session, prices moved sideways within 16,520-16,540 yuan/mt, then rebounded slightly near the close, ultimately settling at 16,560 yuan/mt, down 35 yuan/mt or 0.21%. In June, secondary lead smelters in multiple regions including east China, north China, and south China showed increased intentions to resume production, with regional supply expected to rebound. Meanwhile, some primary lead enterprises in Henan and Hunan remained under maintenance, and combined with reduced arrivals of imported lead, regional lead ingot supply remained tight. Overall, bullish and bearish factors were intertwined on the supply side. Demand side, consumption in June was expected to recover compared to May, but the strength of recovery remained to be observed. In the short term, lead prices were expected to maintain a fluctuating trend. Data source statement: Data other than public information is derived from public information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.

SMM May 29 News: Spot lead prices fluctuated at highs before pulling back this week. Scrap battery purchase prices first rose then stabilized, with only a few smelters slightly lowering their quotes while most enterprises held prices and adopted a wait-and-see approach. Currently in the consumption off-season, scrap battery retirement volumes remained low, smelter raw material inventories declined WoW, and purchase prices overall stayed firm. Looking ahead to next week, smelters in east China, north China, and south China are showing stronger willingness to resume production, and stockpiling for production resumptions is expected to boost scrap battery recycling demand, tightening regional supply. Scrap battery purchase prices are expected to receive strong support in the short term, and the overall market is expected to hold up well next week.

[SMM Chrome Daily Review: Procurement of Ferrochrome Remained Stable for Now, Ore Prices Fell amid Inventory at High Levels] May 29, 2026: The ferrochrome and chrome ore market experienced slight fluctuations...

SMM News, May 29: Metals market: As of the midday close, domestic base metals rose nearly across the board. SHFE copper was up 0.86%, SHFE aluminum up 0.19%, SHFE lead down 0.45%, SHFE zinc up 1.05%, SHFE tin up 1.31%, and SHFE nickel edged down. In addition, the most-traded casting aluminum futures edged up, the most-traded alumina contract was up 1.08%, the most-traded lithium carbonate contract up 0.9%, the most-traded silicon metal contract up 0.12%, and the most-traded polysilicon futures contract up 0.45%. Ferrous metals mostly rose. Iron ore was up 0.77%, rebar up 0.38%, hot-rolled coil up 0.47%, and stainless steel down 0.57%. Coking coal and coke: coking coal edged up, and the most-traded coke contract was up 0.42%. Overseas base metals, as of 11:41, LME metals fell nearly across the board. LME copper was down 0.41%, LME aluminum down 0.68%, LME lead down 0.12%, LME zinc up 0.18%, LME tin down 1.61%, and LME nickel down 0.52%. Precious metals, as of 11:41, COMEX gold was down 0.1% and COMEX silver down 0.26%. Domestic precious metals: the most-traded SHFE gold contract was up 1.59% and the most-traded SHFE silver contract up 1.86%. In addition, as of the midday close, the most-traded platinum futures contract was up 0.89% and the most-traded palladium futures contract down 1.45%. As of the midday close, the most-traded Europe containerized freight contract was up 0.62%, closing at 3,016 points. As of 11:41 on May 29, midday futures quotes for selected contracts: Spot cargo and fundamentals Aluminum: On May 29, SMM A00 aluminum (Foshan) was quoted at 24,060, up 50, at a discount of 225 to the current-month contract, narrowing by 5. Futures edged up today, and spot cargo in South China was generally stable with slight fall. Absolute prices remained at relatively low levels and inventory saw significant drawdowns. In the morning, most holders continued to hold prices firm for shipments... Macro front China: [ CCPIT: Global Trade Friction Index Remained at High Level in March ] This morning (May 29), the China Council for the Promotion of International Trade (CCPIT) held a press conference to release the latest Global Trade Friction Index. Data showed that in March this year, the global trade friction index remained at a high level. Composite index, the global trade friction index stood at 104 in March 2026, remaining at a high level. The value of trade involved in global trade friction measures fell 29.1% YoY but rose 2.8% MoM. Country-specific indices, among the 20 countries (regions) monitored, the top 3 were the US, India, and the EU. The US accounted for the largest amount involved in global trade friction measures, ranking first in 11 out of the past 12 months. Wang Yifei, spokesperson of the China Council for the Promotion of International Trade (CCPIT), stated that in terms of industry indices, among the 13 major industries within the monitoring scope, trade friction measures were concentrated in the electronics, chemicals, transportation equipment, and machinery equipment industries, with the electronics industry ranking first in the trade friction index. (CCTV News) [PBOC Reverse Repo Operations Recorded a Net Withdrawal of 30 Billion Yuan for the Day and a Net Injection of 104.4 Billion Yuan for the Week] The PBOC conducted 123 billion yuan of 7-day reverse repo operations today. As 153 billion yuan of 7-day reverse repos matured today, a net withdrawal of 30 billion yuan was achieved for the day. This week, the PBOC conducted 908.9 billion yuan of reverse repo operations. As a total of 500 billion yuan of 1-year MLF and 304.5 billion yuan of reverse repos matured this week, a net injection of 104.4 billion yuan was achieved for the week. (Jin10 Data APP)(Jin10 Data APP) US Dollar: As of 11:41, the US dollar index rose 0.1% to 99.1. Fed's Musalem said on Thursday that, like several other Fed policymakers, he believed the "easing bias" language should have been removed from the post-meeting statement last month, thereby creating the possibility of an interest rate hike. "I supported the rate decision, but I believe the easing bias no longer aligns with the economic outlook and the balance of risks," Musalem said. Blerina Uruci, chief US economist at T. Rowe Price, said the market may still be underestimating the likelihood of further policy tightening by the US Fed. In her report, Uruci noted that since early May, the Iran conflict has lasted longer than expected, oil prices have risen, and US economic growth has remained resilient. While the US Fed can look through a temporary energy shock, sustained oil and import price pressures could affect inflation expectations, wage dynamics, and enterprise pricing behavior. Uruci shifted her base case to the federal funds rate remaining unchanged over the next 12 months. She assigned a 45% probability to rates staying unchanged, a 35% probability of a rate hike by year-end or early 2027, and a 20% probability of an interest rate cut. According to the CME "FedWatch": the probability of the US Fed keeping rates unchanged through June was 99.4%, with a 0.6% probability of a cumulative 25-basis-point rate hike. The probability of the US Fed keeping rates unchanged through July was 93%, with a 6.9% probability of a cumulative 25-basis-point rate hike. (Jin10 Data APP) A series of economic data confirmed market concerns about US inflation, while economic activity sent mixed signals. US durable goods orders rose 7.9% in April, easily surpassing the Wall Street Journal's market consensus expectations of 3.5%; however, this figure was largely driven by a surge in non-defense aircraft equipment orders. The second estimate of Q1 GDP growth was unexpectedly revised down from 2% to 1.6%. Weekly initial jobless claims rose more than expected, increasing from an upwardly revised 210,000 to 215,000, suggesting an acceleration in the pace of enterprise layoffs. PCE inflation accelerated as expected, rising from 3.5% to 3.8%. (Jin10 Data APP) Data: Today will see the release of France's preliminary May CPI m/m, France's final Q1 GDP y/y, Germany's seasonally adjusted May unemployment change, Germany's seasonally adjusted May unemployment rate, Germany's preliminary May CPI m/m, Canada's March GDP m/m, and the US May Chicago PMI, among other data. In addition, attention should be paid to: 2027 FOMC voter and Richmond Fed President Barkin participating in a fireside chat at a conference hosted by Johns Hopkins University Carey Business School; 2026 FOMC voter and Minneapolis Fed President Kashkari participating in an exchange event at Korea University; Bank of England Governor Bailey delivering a speech; 2028 FOMC voter and Kansas City Fed President Schmid delivering a speech; US Fed Governor Bowman delivering a speech; and 2026 FOMC voter and Philadelphia Fed President Paulsen delivering a speech on the economic outlook. Crude oil: As of 11:41, both benchmarks declined, with WTI down 1.26% and Brent down 0.85%. The market expected a possible US-Iran ceasefire extension agreement, putting oil prices under pressure. Meanwhile, the back-and-forth nature of bilateral agreement negotiations also led to heightened volatility in oil prices. The US and Iran are nearing a historic 60-day ceasefire and maritime corridor unblocking agreement, but contradictory statements from senior officials on both sides indicate that core disagreements over Iran's nuclear plan and control of the Strait of Hormuz persist, leaving significant uncertainty over whether a final deal can be reached. According to Xinhua News Agency, US officials stated that US-Iran negotiators had largely reached agreement on the terms of a memorandum of understanding on the 26th, pending approval from senior leadership on both sides. The Iranian side stated it had obtained the necessary approval and was ready to sign. US negotiators briefed Trump on the details of the memorandum of understanding. "The President told the mediators that he would like to take a few days to consider the matter." Meanwhile, according to CCTV News, the Iranian side stated that as of now, Iran has not agreed to any memorandum of understanding, nor has it confirmed to Pakistani mediators that it has approved the memorandum. In addition, Iran explicitly stated that it had not made any commitments on the nuclear issue during negotiations with the US. (Wallstreetcn) US Treasury Secretary Bessent: Oil prices will be lower than pre-conflict levels. Nearly 2,000 ships are waiting for port departures in the Gulf, and supply on the other end of the oil market will be very ample. (Jin10 Data APP) South Korean government officials said on the 28th that the South Korean government decided to ease mandatory oil reserve requirements for private enterprises starting from the 29th to release private oil reserves to the market. The country has not yet decided when to release national oil reserves, keeping them as a "last card" to deal with potential oil crises. Yang Ki-wook, an official from South Korea's Ministry of Trade, Industry and Energy, announced on the same day that starting from the 29th, the government will reduce the mandatory oil reserve requirement for private oil companies from 40 days to 20 days, releasing oil reserves equivalent to 20 days of consumption. He stated that this measure was to fulfill commitments made to the International Energy Agency. (Jin10 Data APP) Spot market overview: ► ► ► ► ► ► ► ► ► ►

SMM May 29 News: Guangdong #1 copper cathode spot prices against the front-month contract today: high-quality copper was quoted at a premium of 110 yuan/mt, down 10 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 40 yuan/mt, down 10 yuan/mt from the previous trading day; SX-EW copper was quoted at a discount of 30 yuan/mt, down 10 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 105,015 yuan/mt, up 1,320 yuan/mt from the previous trading day; the average price of SX-EW copper was 104,910 yuan/mt, up 1,320 yuan/mt from the previous trading day. Spot market: Guangdong inventory increased for two consecutive days, mainly due to increased arrivals and weakening consumption. Copper prices rose sharply and it coincided with month-end, so both end-users and traders showed very weak enthusiasm for restocking, and suppliers had to continuously lower premiums to achieve only small volumes of transactions. Guangdong copper cathode purchasing sentiment today was 1.41, down 0.12 from the previous trading day, and shipments sentiment was 2.54, down 0.18 from the previous trading day (historical data can be accessed via the database). Overall, month-end market trading was subdued, with suppliers cutting prices to move shipments. A recovery is expected only next week.

SMM May 29 News: [SMM] On May 29, SMM A00 aluminum (Foshan) was quoted at 24,060, up 50, at a discount of 225 to the current-month contract, narrowing by 5 (unit: yuan/mt). Futures edged up during the daytime session today, while spot cargo in South China was generally stable with slight fall. As absolute prices remained at a relatively low level and inventory declined significantly, most holders continued to hold prices firm for shipments in the morning. However, the spot-futures price spread had previously strengthened to a relatively high level, and combined with peak cash realization demand ahead of the month-end weekend, circulating supplies were notably loosened. Efforts to hold prices firm ultimately failed, and mainstream quotations reverted to lower levels with increased offerings. Mainstream quotations were at a discount of 20-0 yuan/mt, with sellers showing greater eagerness to make shipments. Although downstream buyers rushed to buy amid continuous price rise to replenish stocks, the incremental volume was limited, while traders pushed for lower prices and only accepted purchases at a discount for rigid demand. Demand lacked follow-through momentum, and overall transactions were lackluster. Spot transaction prices were concentrated at a premium of 205-245 yuan/mt to the SHFE aluminum 2606 contract.

The zinc market in May 2026 is experiencing unprecedented structural pressure. Import zinc concentrate TCs have fallen to -$56.25/dmt, while domestic TCs have dropped to 400 yuan/mt in metal content on a weekly basis.