Futures: Overnight, LME lead opened at $1,934.5/mt and moved sideways around the daily average during the Asian session. Entering the European session, it briefly rose to test the $1,940/mt level before weakening again to a low of $1,930/mt. It then rebounded and recovered all losses, touching a high of $1,946/mt before the close and finally settling at $1,945/mt, up $14/mt, or 0.73%. Overnight, the most-traded SHFE lead contract gapped lower to open at 16,605 yuan/mt. Early in the session, supported by stronger LME lead, it climbed to a high of 16,680 yuan/mt before pulling back and consolidating above the intraday average. It edged up slightly before the close and eventually settled at 16,665 yuan/mt, down 25 yuan/mt from the previous day, or 0.15%. As shipping through the Strait of Hormuz was nearly at a standstill, production cuts by Middle Eastern oil-producing countries also kept escalating. Three sources familiar with the matter revealed that the Trump administration in the US had asked Israel to stop further airstrikes on Iran’s energy facilities, especially oil infrastructure. This was said to be the first time the US had clearly restrained Israeli military operations since the joint US-Israeli military action against Iran began. The US made this request partly because of concerns that it could push up global oil prices and trigger large-scale Iranian retaliation against energy infrastructure in the Gulf region. The 2026 draft report on central and local fiscal budgets clarified the total national defense expenditure budget, and Zhang Xiaogang introduced this year’s national defense spending arrangements. In 2026, the national general public budget arranged national defense expenditure of 194 billion yuan, up 6.9% from the previous year’s executed amount, of which central government spending was 191 billion yuan, up 7% from the previous year’s executed amount. Spot Fundamentals: In the Shanghai market, Chihong lead was quoted at discounts of 100-0 yuan/mt against the SHFE lead 2604 contract. SHFE lead remained in the doldrums, and with delivery approaching, some suppliers shifted cargoes to ship to delivery warehouse, reducing shipment pressure and relatively narrowing discounts. This was mainly reflected in primary lead smelter cargoes self-picked up from production site, with ex-works quotations in mainstream producing areas ranging from discounts of 50 yuan/mt to premiums of 75 yuan/mt against the SMM #1 lead average price. In addition, secondary lead smelters held prices firm in shipments, with secondary refined lead quoted ex-works around parity with the SMM #1 lead average price. As arrivals of imported lead increased, however, discounts on individual secondary refined lead quotations widened to 200 yuan/mt ex-works. Downstream enterprises bought the dip on demand, mainly purchasing primary lead, and transactions relatively improved. Inventory: As of March 10, LME lead inventory stood at 284,875 mt, flat from the previous day; as of March 9, SMM social inventory of lead ingot across five regions continued its accumulating trend. Lead Price Forecast for Today: Recently, downstream enterprises have still mainly been digesting inventories, with low enthusiasm for procurement and stockpiling. After lead ingot inventories accumulated at medium- and large-scale smelters in Henan and other regions, they were continuously transferred to social warehouses. For secondary refined lead, as scrap battery prices remained firm while lead prices were in the doldrums, smelters showed low enthusiasm for shipments and ramping up operating rates, and discounts in spot secondary refined lead quotations narrowed, with downstream just-in-time procurement tilting toward primary lead. In addition, secondary refined lead will enter delivery as substitutes, coupled with replenishment from imported lead, refined lead social inventory is expected to find it difficult to reverse the short-term trend of continued accumulation, and lead prices remain under pressure.

Hosted by Shanghai Metals Market (SMM), CLNB 2025 (10th) New Energy Industry Expo will be held from April 16 to 18, 2025 at Suzhou International Expo Center . During the exhibition, 1 main forum and 11 sub-forums will be held, with government leaders, academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, domestic and overseas scientists, foreign guests from dozens of countries, and leading entrepreneurs from various industries attending the event! Witness the gathering of industry leaders, explore core technologies, listen to experts' insights, interpret market trends, and gather in Suzhou to focus on key issues, inviting you to jointly analyze industry development. This expo covers 6 major exhibition areas , with 1,300+ domestic and overseas exhibiting and participating companies showcasing the entire industry chain of batteries, including power batteries, consumer batteries, energy storage, raw materials, materials, equipment, battery recycling, as well as NEVs, power tools, electric drives, and the low-altitude economy in the power exhibition area, providing you with a one-stop exhibition experience. Click to fill out the registration form to register immediately and discuss the future development of the new energy industry with industry elites. We look forward to your arrival and joining SMM in opening this grand feast of the new energy industry. At this New Energy Industry Expo, Shanxi Huana Xinneng Technology Co., Ltd. will make a grand appearance, discussing industry cooperation, sharing development opportunities, and jointly painting a bright blueprint for the new energy industry with peers. Shanxi Huana Xinneng Technology Co., Ltd. Booth Number: F12 cordially invites you to visit the CLNB 2025 New Energy Industry Expo About Huana Xinneng Company Shanxi Huana Xinneng Technology Co., Ltd. (hereinafter referred to as "Huana Xinneng Company") was established on January 24, 2022, as a third-tier subsidiary of Shanxi Huayang Group New Energy Co., Ltd., with a registered capital of 300 million yuan. The company has 4 functional departments, 3 production workshops, and 314 employees. Relying on the sodium-ion battery technology of the Institute of Physics, Chinese Academy of Sciences, Huana Xinneng has established and owns the world's first sodium-ion battery cell (1GWh) and sodium-ion Pack battery (1GWh) production lines. The company is committed to extending the industry chain, having completed the construction of an energy storage integration workshop, and possesses the capability for mass production of energy storage systems. It mainly produces 26700 cylindrical steel shell and 73174207 square aluminum shell sodium-ion battery cells, as well as corresponding Pack battery packs, coal mine emergency power supplies, and industrial and commercial energy storage products. Among them, cylindrical cell Pack battery packs are mainly used in electric two-wheelers, small energy storage, start-stop power supplies, and household energy storage; square cell Pack battery packs are mainly used in emergency power supplies, industrial and commercial energy storage, heavy-duty truck battery swapping, engineering machinery, and underground trackless rubber-tired vehicles. Relying on the Huayang Group Industrial Technology Research Institute platform and the entire sodium-ion battery industry chain, the company has a professional R&D team and deep R&D capabilities, continuously developing product applications. Facing diverse application scenarios, the company is strengthening upstream and downstream market integration, aiming to become a leading domestic and internationally renowned sodium-ion battery industry enterprise through demonstration, service, and integration. Project Operation Status Production Line Optimization and Debugging, Process Iteration Huana Xinneng adheres to producing high-quality products as the cornerstone of enterprise development, continuously optimizing material formulations and process procedures. Through relentless efforts, significant technological breakthroughs have been achieved in battery energy density, charge-discharge efficiency, low-temperature performance, and safety. To date, the cylindrical cell production line has been fully optimized, with the capacity of cylindrical cells increased from 2.8Ah to 3.5Ah, reaching industry-leading levels. The square cell production line has completed key process debugging, with capacity increased from 180Ah to 185Ah, and is advancing the introduction of the H30 cathode material system, aiming for 210Ah. Sodium-ion cylindrical and square cells produced by Huana Xinneng have passed authoritative certification, placing the production level in the industry's first tier. Addressing Market Demand, Enriching Downstream Products Independently developed cylindrical Pack battery packs are widely used in the electric two-wheeler field. Through strategic cooperation with Keda Automation, tens of thousands of sodium-ion electric two-wheelers have been deployed across the Shanxi market. The Pack battery pack adapted for Lima electric bicycles has passed the national CCC mandatory product certification. Independently developed sodium-ion coal mine emergency power supplies provide a "third power source" for coal mine safety. The first set of lithium + sodium coal mine emergency power supplies officially operated at Huayang Group's Jingfu Coal Mine on August 27. The first all-sodium coal mine emergency power supply officially operated at Huayang Group's Kaiyuan Mine on November 29. The first sodium-ion industrial and commercial energy storage cabinet debuted at Guangzhou International Cruise Plaza. The development of sodium-ion coal mine emergency power supplies and energy storage products fully demonstrates Huana Xinneng's technological and product advantages in leading the future of sodium-ion batteries. Focusing on Technology R&D, Building Core Power Huana Xinneng focuses on technology R&D, always considering technological innovation as the core driving force for high-quality company development. From 2023 to 2024, Huana Xinneng applied for 24 patents, successfully obtaining 10 technical patents; participated in compiling 11 standards, including 3 national standards and 8 group standards. The company continues to invest in R&D projects, currently identifying 4 R&D projects and steadily advancing them. It has completed the application for multiple innovation platforms, innovation competitions, and honorary titles, winning the titles of "Yangquan City Science and Technology Achievement Transformation Demonstration Enterprise," "Yangquan City Science and Technology Innovation Center," and "Shanxi Province 2024 Third Batch of Innovative Small and Medium Enterprises," and was listed on the China Sodium-ion Battery Annual Competitiveness Brand List. Ensuring Product Quality, Passing Authoritative Certification Huana Xinneng, in collaboration with Shanxi University, jointly established the "Sodium-ion Battery Energy Storage Technology City-Province Co-construction Shanxi Province Key Laboratory Cultivation Base," equipped with 51 advanced testing and inspection equipment, enabling full-process quality testing from raw material inspection to finished product ex-factory inspection for sodium-ion batteries and Pack batteries. Meanwhile, third-party product testing was commissioned to authoritative institutions such as Beijing Saixi and Tianjin China Automotive Technology & Research Center. The cylindrical cells, square cells, Pack battery packs, clusters, and emergency power supply cabins produced by Huana Xinneng have all passed authoritative certification. The sodium-ion emergency power supply project passed provincial expert review, with the "Huayang-made" sodium-ion battery coal mine emergency power supply achieving domestic leading levels among similar products. The sodium-ion emergency power supply passed expert review by the China National Coal Association, reaching international leading levels overall. The company successfully passed ISO9001 quality management system, ISO14001 environmental management system, and ISO45001 occupational health management system certifications. Improving the Marketing System, Fully Expanding the Market To quickly open the market in the sodium-ion battery blue ocean, Huana Xinneng has established a more comprehensive marketing system, forming 6 marketing service groups with a "technology + business" focus, targeting high-gas coal mines in the province as core users of emergency power supplies, while also considering other emergency power supply application scenarios, comprehensively promoting sodium-ion emergency power supply series products. The company continues to strengthen friendly cooperation with large enterprises such as China Southern Power Grid, CGN, Qinghe Power Plant, Inner Mongolia SPIC, and Xi'an Xidian, following up on the progress of energy storage project implementation to timely promote sodium-ion battery energy storage projects. Product Introduction Cylindrical Cell Square Cell Pack Battery Industrial and Commercial Energy Storage Cabinet 20ft Liquid-cooled Energy Storage System Contact Information Name: Zhichun Chang Phone: 15235523747 Email: 15235523747@163.com Name: Xiaogang Li Phone: 15035334033 Email: hnxn_sdlxg@163.com 【CLNB 2025—Hot Registration】 CLNB 2025 (10th) New Energy Industry Expo April 16-18, 2025 Suzhou International Expo Center

Geely-affiliated Ningbo Jixing Real Estate Co., Ltd. recently secured a plot of land in the Beilun area of the Yongjiang River Science and Technology Innovation Zone in Ningbo, Zhejiang Province.