[SMM Shanghai spot copper] According to the Central Meteorological Observatory, the 9th typhoon this year, "Bavi," has intensified into a super typhoon. It is expected to approach the eastern sea areas of China around July 10, with a high probability of making landfall in east China. Affected by this, downstream copper semis processing plants in Jiangsu and Zhejiang were concerned that the subsequent strong winds and heavy rain brought by the typhoon could disrupt logistics, transportation, and production schedules. As a result, they concentrated on stockpiling purchases in advance, pushing the overall center of Shanghai spot copper premiums higher. Currently, transaction prices for domestic standard-quality copper are at premiums of around 70 yuan/mt to 90 yuan/mt.

SMM reported on July 3: LME copper prices moved sideways this week. On Monday, LME copper opened at $13,317/mt before fluctuating around the $13,100-$13,500/mt range. Affected by the limited price fluctuations, the conversion rates of ex-China copper scrap transactions remained largely unchanged overall. Mainstream quotations for bare bright copper ex-China held around 98.5%-99%, while No.1 copper semis quotations were mostly concentrated in the 97%-98% range, and No.2 copper semis quotations varied from 95% to 98.5% depending on material quality and gold/silver content. From the supply-demand fundamentals, the copper scrap market continued to show weak supply and demand. Supply side, the outflow of secondary copper declined further, with most enterprises reporting a marked tightening of available material in the market. In terms of recent trade volume changes, market trading activity also pulled back significantly over the past month. Demand side, in addition to the seasonal off-season drag, some enterprises held a bearish view on the copper price outlook, expecting the US dollar to strengthen further, and maintained a cautious procurement pace, mostly preferring to wait for a pullback in copper prices before restocking. As a result, overall purchasing sentiment remained weak this week, and the trading atmosphere stayed sluggish. Looking ahead to next week, if Middle East tensions ease further and market concerns about US Fed rate hikes cool down, copper prices could see a phased rebound. In that scenario, the price rise is expected to boost some suppliers' willingness to sell. However, given that overall ex-China copper scrap supply is still tight, the related conversion rates are expected to stay high, and even if copper prices rise, the rates are unlikely to pull back significantly.

As of Thursday, June 25, social copper inventories in major regions of China increased by 11,700 mt WoW to 206,000 mt, while regional inventory trends diverged significantly. Copper price pullbacks have spurred a recovery in downstream purchasing demand, and coupled with ongoing adjustments in the market's supply-demand pattern, inventory performance varied across regions. By region, inventory trends in China's key copper consumption areas showed pronounced divergence. In Shanghai and Jiangsu, the two core markets, inventories pulled back in tandem, signaling a notable recovery in demand. Recently, domestic copper prices fell sharply, with lower prices effectively stimulating downstream enterprises' restocking willingness. In Shanghai, buoyed by favorable prices, downstream purchasing activity increased significantly, continuously drawing down spot inventories; meanwhile, combined with relatively low regional arrivals in the prior period, the market maintained a destocking pattern. Jiangsu's market situation was largely in line with Shanghai's—falling copper prices prompted end-users to concentrate on pricing and purchasing, with rigid-demand orders released intensively, effectively driving steady destocking of regional inventories and markedly improving spot market liquidity. In stark contrast to Shanghai and Jiangsu, inventories in Guangdong continued to climb, becoming the main drag on the national inventory increase. According to market analysis, as the year entered the mid-year phase, consumption by downstream copper semis enterprises in Guangdong gradually slowed, end-user order growth pulled back, and overall willingness to purchase remained weak. Meanwhile, domestic smelters accelerated their shipment pace, concentrating deliveries into Guangdong warehouses, driving a significant increase in regional arrivals. Under the dual impact of weakening downstream consumption and concentrated inflows of upstream supply, copper inventories in Guangdong continued to accumulate. Looking ahead, China's copper market will see structural adjustments on both supply and demand sides in the short term, with a destocking trend essentially in place. On the supply side, the domestic copper cathode market has recently seen somewhat looser supply, with port arrivals of imported cathode steadily rising. Meanwhile, domestic smelters have maintained steady production and shipment pace, with domestic supply arrivals continuing to increase, resulting in ample overall spot supply. The outlook for demand improvement is more definitive. After this round of sharp copper price declines, downstream enterprises' cost pressure has eased significantly. Coupled with previously accumulated orders on hand awaiting execution, market stockpiling sentiment continues to recover, and end-user restocking demand for rigid needs is set to be released intensively, continuously consuming spot cargo circulating in the market. Overall, the current domestic copper spot market is characterized by a favorable pattern of "ample supply and recovering demand," with downstream restocking momentum sufficient to offset pressure from short-term new supply. SMM expects that next week, national copper social inventories will shift to a destocking pace, and overall inventories are likely to pull back steadily. Going forward, the market should closely monitor the magnitude of copper price fluctuations, the sustainability of downstream purchasing intensity, and the pace of imported supply arrivals.

This week, LME copper prices retreated from highs, drifting lower after hitting a high at Monday’s open. Mid-week, prices briefly fell to a low of $12,988/mt, with a weekly decline of about 3.3%. The pullback in copper prices led to a slight spike in payable indicators, pushing up the overall discount range by about 0.2%. By specific grade, bare bright copper saw its main transaction coefficient remain high at 98.5%–99%, while No.1 copper semis’ transaction range was concentrated at 97%–98%. In contrast, quotes for No.2 copper semis showed clear divergence: with precious metal prices staying high, smelters’ acceptance of No.2 copper semis with high gold and silver content rose significantly, with quotes reaching 97.5%–98%, even exceeding those for No.1 copper semis in a price inversion. Such high-gold-and-silver-content copper semis mainly originate from the Americas, so quotes for Americas-origin No.2 copper semis were notably higher than from other regions. Meanwhile, No.2 copper semis from Japan, South Korea, and Southeast Asia, generally low in gold and silver content, saw relatively pressured quotes, with transaction ranges mostly concentrated at 95%–96%. However, constrained by the current overall supply-demand weakness, actual market transactions this week were relatively sluggish. On one hand, payable indicators were already at historical highs, limiting room for further upside. On the other, although copper prices pulled back and enterprises’ tolerance for high prices gradually improved, the absolutely elevated copper prices still significantly suppressed purchasing sentiment. In addition, macro and seasonal factors further dragged on major Asian consumer markets: Japan, one of the key consumers, was about to face its annual settlement window on June 30, and some enterprises had already stopped purchasing in advance. At the same time, Japanese scrapyards were engaged in Q3 quarterly supply negotiations with downstream consumers, causing them to generally slow down their current purchasing pace. Compounding this, the yen and won exchange rates against the US dollar remained at low levels, driving up local enterprises’ ex-China procurement costs and prompting traders in both regions to adopt a generally cautious stance toward overseas purchases. Under the combined weight of falling copper prices and tight overall market supply, ex-China scrapyards currently hold a strong sentiment of holding back from selling, and the near-term market stalemate is expected to continue into next week.

I.AI Computing Power Expansion Opens Growth Space for Copper Global computing power infrastructure and data center construction have seen simultaneous explosive growth, with intensive commissioning of intelligent computing and supercomputing projects across regions, generating an entirely new incremental demand curve for copper semis. According to SMM projections, global new installations is expected to achieve a CAGR of 24% from 2025 to 2030, with the fastest pace of new deployment occurring in 2025 and 2026. New installations in 2026 are expected to grow 65% MoM, and by 2027, the growth rate of new installations is projected to pull back to 28.77%, followed by a year-by-year deceleration in 2028-2030. By region, global new installations of computing power are mainly concentrated in two major markets: the US and China. Leveraging its scale-leading cloud operators, highly efficient facility operation systems, and a well-established global AI industry ecosystem, the US continues to lead in deployment scale. In China, leading cloud producers such as Alibaba and Tencent continue to increase capital expenditure on computing power infrastructure, while the national computing power network is formally incorporated into the top-level planning of the "Six Networks" and the "East Data, West Computing" projects are being rolled out and commissioned in batches, leading to a steady rise in the market share of domestic intelligent computing centers. SMM analysis indicates that the CAGR of new copper consumption for global computing power from 2025 to 2030 is 21%, slightly lower than the growth rate of new installations. The core reason is the gradual release of medium and long-term technological effects that reduce copper usage. Looking at individual years, copper consumption growth is 54.94% in 2026, pulling back to 27.58% in 2027, and the growth of new copper consumption is also expected to exhibit a gradual slowdown trend from 2028 to 2030. II. Unit Copper Consumption in Computing Power Centers Shows a Phased Trend of First Increasing then Decreasing SMM's calculation by region shows that the comprehensive copper consumption per unit of global computing power centers will present a characteristic of first increasing then decreasing from 2025 to 2030. In the short term, new computing power is mainly through the construction of entirely new campuses, with supporting power, grounding, and other infrastructure built from scratch, coupled with high-density cabinets driving a rapid rise in the penetration rate of liquid cooling systems. Multiple factors jointly push comprehensive unit consumption upwards in 2025-2026. In the medium and long term, as 800V high-voltage DC power distribution is popularized at scale, the required thickness and cross-section of copper conductors under equivalent power scenarios will decrease significantly.Meanwhile, high-speed NVLink copper cables will face substitution by fiber optic interconnects. Coupled with the iteration of liquid cooling heat dissipation materials and technological breakthroughs in aluminum as a substitute for copper processes, the industry's comprehensive unit consumption will enter a downward trajectory. However, constrained by the pace of industrial technology penetration, SMM's calculations show no significant decline in unit consumption in 2027-2028, as consumption reduction and copper-increase factors offset each other, keeping unit consumption stable. The downward trend will only become significantly prominent after 2029. It is worth noting that comprehensive unit consumption is a weighted average calculated by SMM based on the deployment scale of computing power in the US, China, and the rest of the world. There is clear differentiation in unit consumption among data centers in different regions, with the unit copper consumption ranked as: Rest of the World > China > US, where the scale effect of large clusters effectively lowers unit copper intensity. III. Breakdown of Core Copper Usage in Computing Power Centers Computing centers fall into three categories: general-purpose IDCs, intelligent computing centers, and supercomputing centers. This article uses intelligent computing centers, which currently hold the highest market share and fastest growth rate, as the calculation sample to break down the copper consumption structure: The power supply and distribution system is the largest copper-consuming segment in a computing center, accounting for 66% of total copper consumption according to SMM calculations. It primarily handles medium- and high-voltage power conversion and ensures uninterrupted power supply for equipment rooms. Medium- and low-voltage distribution cabinets, UPS, and busways are the core copper-consuming equipment. In the short term, high-power cabinets continue to boost demand for copper semis in power distribution, while in the medium and long term, after the popularization of lithium battery UPS and high-voltage DC solutions, unit copper consumption in the distribution segment will trend steadily downward. SMM estimates that AI server hardware infrastructure accounts for 18% of copper consumption, undertaking all tasks of computing power, storage, and network interaction. It integrates core components such as GPUs, motherboards, and server power supplies, and the stable operation of the hardware directly determines the computing power output of the cluster. High-end AI server PCBs and internal interconnection copper wires are the main sources of copper consumption in this segment. The liquid cooling system accounts for 11% of copper consumption. The closed-loop liquid cooling cycle meets the heat dissipation demands of high-power AI chips, with cold plates, CDU heat exchange units, and circulating copper pipe & tube serving as the main copper-consuming components. Liquid cooling penetration during 2025-2026 will boost demand for copper pipe & tube and copper plate/sheet and strip, and once copper-aluminum composite heat dissipation materials mature, the copper intensity for heat dissipation will gradually decline. Network communication, grounding protection, and supporting auxiliary systems together occupy the remaining 5% of copper consumption , covering sub-scenarios such as high-speed interconnection cabling and equipment room grounding and lightning protection copper grids. The current optical fiber interconnection industry chain continues to expand production, with optical fiber enterprises seeing simultaneous improvements in orders and profitability, indirectly confirming the overall high prosperity of AI computing power construction. In the long term, optical fiber will also continue to divert demand from high-speed copper cables. IV. Comprehensive Analysis of the Proportions of Different Copper Semis Breaking down the copper consumption structure of computing centers comprehensively by semi-finished copper product category, cables and copper busbars are the core consumables throughout the construction process. SMM analysis shows that cables account for 40% of the total copper consumption in a computing center, acting as the “blood vessels” permeating every link, with core applications in high-voltage access, low-voltage distribution, power transmission, high-speed communication copper cables, building wiring, as well as grounding and lightning protection cables. Copper busbar (24% of total copper consumption), the "backbone" for high-current power distribution in data centers, is mainly used in high- and low-voltage power distribution cabinets, transformer copper busbars, UPS systems, etc.Copper plate/sheet and strip (17%) is mostly used in transformer windings and liquid cooling cold plate substrates, performing dual functions of power transformation and heat dissipation. Copper pipe & tube (11% of total copper consumption) is a dedicated consumable for liquid cooling systems, mostly used in circulation piping, CDU heat exchange units, and precision air conditioning heat exchange pipes. The large-scale expansion of liquid cooling will boost demand for copper pipe & tube in the short term. Copper foil (4%) covers application scenarios including servers, switches, and various PCB circuit boards. Industry demand is concentrated on HVLP ultra-low profile high-end copper foil. Although the copper consumption per GW is relatively small, the incremental elasticity driven by AI computing power expansion is extremely strong. Currently, copper foil enterprises are accelerating the switch of capacity from ordinary electronic copper foil to high-end HVLP capacity, while copper clad laminate (CCL) producers have full order books and processing fees are being raised continuously, indicating that the prosperity of computing hardware demand has been verified across the entire industry chain. In summary, the rapid expansion of computing centers directly drives the growth in demand for related copper semis. At the same time, high-density AI computing clusters significantly raise the requirements for power supply supporting facilities, and the overall electricity consumption scale of the industry surges simultaneously. The demand for power infrastructure construction derived from computing expansion has become a key focus for long-term tracking and research in the future. While computing demand expands, the industry's development also faces external constraints. Currently, the grid connection approval process has a relatively long queuing period, and the market is generally concerned that transmission, distribution, and generation-side capacity bottlenecks may drag down the implementation pace of computing projects. However, according to SMM forecasts, no substantial power supply gap risk is expected for the industry over the next five years. It will still be necessary to closely track the approval progress and commissioning pace of various transmission and distribution supporting projects. SMM will also continue to follow the relevant industry dynamics and copper demand changes. For detailed data, please contact Cynthia Wang of the SMM Copper Research Team at 15762822325.

Overnight, LME copper opened at $13,278.5/mt, touched a high of $13,289/mt right after opening, then its center moved downward to hit $12,988/mt, and finally closed at $13,026.5/mt, down 2.59%. Trading volume reached 36,000 lots, open interest stood at 248,000 lots, a decrease of 4,061 lots from the previous trading day, reflecting long position liquidation. Overnight, the most-traded SHFE copper 2608 contract opened at 102,200 yuan/mt, edged up slightly to 102,260 yuan/mt in early trading, then fluctuated downward to touch a low of 100,500 yuan/mt, and finally closed at 100,880 yuan/mt, down 2.58%. Trading volume reached 93,000 lots, open interest stood at 162,000 lots, an increase of 5,968 lots from the previous trading day, reflecting bearish position additions.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, in terms of regional structure, available supply in Changzhou has become significantly looser than before, with the previous tightness effectively alleviated, weakening the support for local spot premiums. From the perspective of supplier behavior, as the month-end cash collection period approaches, sentiment to offload cargo remains high, and suppliers have a strong willingness to continuously lower offer prices. During the day, discounts for some brands have widened to around 100 yuan/mt, and this trend is expected to continue tomorrow. On the demand side, following the decline in copper prices, some copper semis processing enterprises reported an increase in order volume; according to SMM, some end-user transactions were concentrated in the 102,500–103,000 yuan/mt range, indicating that current price levels are moderately attractive to downstream, with dip-buying willingness improving. However, due to aggressive price cuts by suppliers, downstream buyers still mainly push for lower prices in procurement, with limited willingness to chase higher prices. The import loss narrowed sharply to 80–30 yuan/mt, approaching the import breakeven point. Going forward, it is necessary to monitor the inflow of ex-China supplies. Overall, under the combined effect of selling pressure and downstream dip-buying, spot prices against the SHFE copper 2607 contract are expected to remain at a discount, or to widen slightly, tomorrow.

According to data from the General Administration of Customs, in May 2026, China's copper plate/sheet and strip exports totaled 12,405.48 mt, up 1.3% MoM and 12.42% YoY; from January to May, cumulative exports of copper plate/sheet and strip reached 57,893.07 mt, a cumulative increase of 15.57% YoY.

2026 China Central International Power Transformer Export Expo 2026 China Central International Power Transformer Export Expo Concurrently held: The 8th China (Zhengzhou) International New-type Power and Smart Energy Industry Exhibition August 15-17, 2026, Central China International Convention and Exhibition Center (Airport Area) Annual Central China Power and Electrical Industry Development Conference Estimated exhibition data: 18 countries and regions 600+ exhibiting brands 300+ media coverage 20 forum events 40,000 m² exhibition area 50,000 visitors Co-organizers: Henan Electrical Equipment Industry Association Beijing Aibo International Exhibition Co., Ltd. Executing Unit: Beijing Aibo International Exhibition Co., Ltd. Title Sponsor: Henan Senyuan Electric Co., Ltd. Official Website: http://byq.aiboexpo.com ※ Exhibition Overview: Currently, 'carbon neutrality' has become a global consensus. Achieving carbon peak and carbon neutrality is a solemn commitment China has made to the world and a broad and profound economic and social transformation. Realizing clean and zero-carbon energy is a crucial guarantee for carbon neutrality. The development and maturation of the new-type power industry are of great significance for accelerating the construction of a new power system dominated by new energy. In recent years, supported by a series of national policies, global renewable energy industries such as PV, wind power, hydropower, new-type energy storage, charging facilities, and hydrogen energy have achieved rapid development. With new breakthroughs in next-generation technologies and equipment, the future new energy market holds limitless prospects. At the 2024 Bosch Connected World conference, the world's richest man Elon Musk predicted that the rapid development of AI and EVs would lead to a severe shortage of transformers. Today, this prediction has become a reality. Amid this global 'transformer shortage', the latest data from China's General Administration of Customs shows: in 2025, China's transformer export value reached 64.6 billion yuan, a YoY surge of 36%, with the average unit price exceeding 205,000 yuan, a rise of 33%. Even more astonishing—orders for high-end ultra-high voltage and data center-dedicated transformers have been scheduled into 2027, with some stretching into 2028! The global transformer shortage is the inevitable result of multiple contemporary factors overlapping. From an infrastructure perspective, the power systems in Europe and the US are undergoing a 'major overhaul'. A Goldman Sachs report from September 2025 pointed out that most of Europe's grid infrastructure has been in operation for 40-50 years, and in the US, 31% of transmission equipment and 46% of distribution facilities are past their service life. To this end, the EU plans to invest €1.2 trillion over the next decade to upgrade its power grid, and the US also announced $1.1 trillion over five years for the power sector. As core equipment for power grid upgrades, transformers have naturally become a focal point of demand. Amid the global transition toward green and low-carbon development, the construction of green energy power plants such as PV and wind power has further lifted transformer demand. The international energy industry analysis firm “Allied Market” forecast that the global transformer market size will reach $103 billion in 2031, Henan is located in central China and has long been known as the “heartland of Kyushu and the thoroughfare of ten provinces,” serving as an important transportation hub in China that connects east and west and links north and south. Developing a hub economy is a key pillar for integrating into the new development paradigm. “In recent years, our province has leveraged its transportation and location advantages to continuously strengthen the hub economy. Seizing the opportunity presented by the development of a unified national market, we have built a comprehensive ‘rice + well + people’ transportation corridor and initially formed a broad multimodal transport landscape integrating and connecting airports, inland ports, highway ports, high-speed rail ports, and ports of entry. It has become a logistics corridor hub that connects at home and abroad and radiates across the east, central, and west. Trading globally, the hub advantage is gradually being transformed into a competitive edge for development. Leveraging Henan’s status as a major province in China in terms of population, agriculture, industry, and energy consumption, its transportation and geographic advantages are driving global power grid upgrades, with transformers playing a crucial role in building a new-type power system. To rapidly and accurately connect sellers and buyers and help enterprises expand broader markets in and outside China, the “2026 China · Central and Western China International Power Transformer Export Expo,” jointly organized by the Henan Electrical Industry Association and Beijing Aibo International Exhibition Co., Ltd., is scheduled to be held on August 15-17, 2026 at Zhongyuan International Convention and Exhibition Center, Zhengzhou Airport Economy Zone, concurrently with the “8th China (Zhengzhou) International New-Type Power and Smart Energy Industry Exhibition.” This exhibition is expected to cover 40,000㎡, attracting more than 600 brand exhibitors from around the world to make a concentrated appearance in central China, with over 50,000 visits expected from professional visitors and buyers. We sincerely invite transformer producers, manufacturers, and related supporting suppliers from in and outside China to gather in central China and share this grand industry event! As one of China’s 12 highest-level international comprehensive transportation hubs and one of the country’s six airport-type national logistics hubs, Zhengzhou is a comprehensive hub city integrating highways, railways, aviation, power, and communications. It enjoys uniquely advantageous geographic conditions. With Zhengzhou as the center, a two-hour aviation circle covers 92% of China’s population, 94% of its total economic output, and 98% of its foreign trade share. Against the backdrop of the current dual-circulation development model and domestic demand boost, Zhengzhou’s market radiation advantage nationwide will become even more prominent. Henan has a solid industrial foundation and a complete industrial supporting system, highly aligned with the development needs of the new energy industry. It can better promote deep integrated development across the upstream and downstream industry chain of new energy enterprises, achieve resource sharing and complementary advantages, and jointly drive coordinated development of the industry. Zhengzhou Airport Economy Zone Comprehensive Experimental Zone, known as the “Central China Special Zone,” is currently the only national-level aviation economy development pilot zone approved by the State Council. The Airport Economy Zone closely focuses on five major strategic positioning goals: the “Air Silk Road” pilot zone, the “National Airport Economy Experimental Zone,” the “core growth pole of the Central Plains Economic Zone and the Zhengzhou Metropolitan Area,” a “modernized, internationalized, world-class logistics hub,” and the “Central China Special Zone”; and deepens the development of five major centers: an international advanced manufacturing center, international trade center, international transportation and logistics center, international creative fashion center, and international innovation talent center. The Airport Economy Zone has become a growth pole of great strategic value for Zhengzhou’s development and a high ground for opening up across the province. ※Key Invitations Target Audience: Power, petroleum, chemicals, metallurgy, steel, cement, coal, textiles, transportation, electronics, communications, environmental protection, transport, machinery, turnkey equipment suppliers, traders, etc. Real estate developers, construction contractors, decoration and renovation companies, architects, designers, engineers, importers and exporters, wholesalers, distributors, manufacturers, retailers, buildings, property management institutions, and industry end-users (such as hospitals, schools, government agencies, hotels, shopping malls, etc.). Relevant government departments, power companies, power grid companies, power supply departments, planning departments, municipal engineering entities, design and research institutions, competent authorities, associations, societies, media organizations, etc. ※ Media Spotlight and Synchronized Promotion : Helping exhibitors deeply explore clients, find professional buyers, promote brands, and close deals has always been the mission and responsibility of the organizers of the Central China Transformer Expo! We will join forces with Xinhua Net, People’s Daily Online, Economic Net, Sina, ifeng.com, CNR.cn, Guangming Online, CCTV.com, China News Service, Dayu Net, Dahe Net, Yingxiang Net, Zhongyuan Net, Jinbao Net, Sunan Net, Dahe Daily, Sohu, iQIYI, Baidu, Toutiao, Henan TV, Dazhong.com, Haibao News, Douyin, Kuaishou, Xiaohongshu, Zhihu, Huaxia Energy Network, International New Energy Network, Polaris Electric Power Network, Power Supply Network, China Transformer Network, Transformer Market Network, Electronic Transformer Information Network, Sobi PV Energy Storage Network, PV Industry Network, Energy World, Household PV Network, EV Network, First EV Network, Charging Piles Network, NEV Industry Network, and more than 100 other media outlets to provide comprehensive coverage of the exhibition, helping enterprises promote new products and technologies, enhance brand image, and strengthen corporate influence. ※ If you are a supplier of the following products, please book a booth: 1 、Transformers: Dry-type transformers, oil-immersed transformers; PV transformers, wind power transformers, box-type substations, electric furnace transformers, mining transformers, marine transformers, movable vehicle-mounted transformers, customized transformers and solutions, etc. 2 、Transformer Design and Manufacturing: Transformer R&D and design software, virtual simulation software; fully automatic winding machines, core laser cutting equipment, robotic insulation coating systems; partial discharge detection instruments, automatic withstand-voltage test benches, AI visual defect recognition systems; overall solutions for digital factories, etc. 3 、Key Transformer Materials: Conductive materials (e.g., copper semis, aluminum semis, copper-aluminum composite materials), magnetic materials (silicon steel and amorphous alloys, ferrite materials), insulating materials (insulating paper, paperboard, insulating varnish, insulating oil, epoxy resin, electrical insulating wood, varnished cloth, varnished cloth tape), etc. 4 、Key Transformer Components: Core, windings, oil tank/oil conservator, bushings, oil level gauges, oil purifiers, conductive rod, sealing gaskets, breathers, insulating materials, tap changers, gas relays, explosion-proof pipes, temperature measuring devices, fire extinguishing devices, clamps, surge arresters, pressure release devices, other transformer accessories/consumables, etc. 5 、Green Electricity Technologies and Applications: Distributed PV/wind power energy systems; energy routers, renewable energy grid connection controllers, cloud-edge collaborative microgrid control systems, virtual power plant (VPP) access terminals; green electricity traceability platforms, full life cycle carbon footprint monitoring instruments, enterprise ESG compliance management software, etc. 6 、Smart Power Supply and Distribution Systems: High-voltage direct current (HVDC) power supply, liquid-cooled power distribution systems, flexible DC converters (medium and high voltage), solid-state transformers (SST)/high-efficiency transformers, high-voltage/medium-voltage switchgear; smart low-voltage distribution cabinets, busway systems, smart header boards, cabinet PDUs; active power filters (APF), dynamic voltage restorers (DVR); DC circuit breakers, DC fuses, smart arc detection systems, lightning surge protectors, etc. 7 、Digital Energy Efficiency Management: AI monitoring platforms for power supply and distribution, digital twin O&M systems, predictive maintenance tools, CFD simulation and energy efficiency optimization software, etc. 8 、Collaborative Innovation in Energy Storage: Lithium battery/flow/sodium-ion energy storage systems, integrated PV+ESS+hydrogen solutions, containerized integrated energy storage units, etc. 9 、Related Services: Planning consulting and design, engineering construction, completion acceptance, rating and certification, infrastructure O&M, IT services and O&M. ※Fee-Based Items: ● Booth Fees: Booth Category Standard Booth (Single Open Side) Standard Booth (Double Open Sides) Deluxe Standard Booth (Single Open Side) Deluxe Standard Booth (Double Open Sides) Special Booth Bare Space China Enterprises ¥8,800 yuan/booth ¥9,800 yuan/booth ¥11,800 yuan/booth ¥12,800 yuan/booth ¥900/㎡ Foreign-Funded Enterprises $1,980/booth $2,980/booth $3,980/booth $4,980/booth $300/㎡ 1、Standard Booth: Minimum rental 3m×3m=9㎡; equipped with: white partition panels (2.5 meters high), one table and two chairs, Chinese-English header board, two fluorescent lights, carpet, and one power socket. 2、Deluxe Standard Booth: Minimum rental 3m×3m=9㎡; equipped with: white partition panels (2.5 meters high), one table and two chairs, Chinese-English header board, two fluorescent lights, carpet, one power socket, and raised booth fascia. 3、Special Booth Bare Space: Minimum rental 36㎡; provided: exhibition space and cleaning services; excluding booth construction and production costs. The bare space does not include any display racks or facilities. To ensure booth construction quality, all exhibitors are requested to use the contractor designated by the organizer to build their booths; no other contractors are allowed to enter the venue. (The organizing committee collects a special booth management fee on behalf of the venue: designated contractor ¥50 yuan/㎡, non-designated contractor ¥70 yuan/㎡). ● Conference Booklet Advertising: It will help you find clients after the exhibition! In addition to being widely distributed during the exhibition, it will also be distributed through various channels to professionals in different regions who were unable to visit the exhibition, enabling them to quickly find contact information and service details via the conference booklet. (The conference booklet is printed in full color on imported copper paper; size: 210mm×135mm). Front Cover ¥20,000 yuan Inside Front Cover/Inside Back Cover ¥7,000 yuan Frontispiece ¥6,000 yuan Black-and-White Page ¥4,000 yuan Back Cover ¥15,000 yuan Double-Page Color Spread ¥8,000 yuan Color Page ¥5,000 yuan 500-Word Company Profile ¥3,000 yuan ● Other Advertising: Advertising fees must be prepaid in full as a one-time payment; exhibitors who are unable to participate on time for any reason may also choose the following advertising promotions. Outdoor Plaza Arch ¥10,000 yuan/set (2 units) Carpet Floor Sticker Ad ¥500 yuan/unit Visitor Tickets ¥10,000 yuan/1,000 tickets Visitor Badge Lanyards ¥10,000 yuan/1,000 pcs Back-of-Visitor-Badge Ad ¥10,000 yuan/1,000 pcs Official Website Ad ¥10,000 yuan/banner/year Outdoor Road Flags ¥1,000 yuan/pair (2 units) Official Account Ad ¥10,000 yuan/unit/year Outdoor Billboard ¥10,000 yuan/unit Exhibitor Badge Lanyards ¥10,000 yuan/1,000 pcs Back-of-Exhibitor-Badge Ad ¥10,000 yuan/1,000 pcs Document Bags ¥20,000 yuan/1,000 pcs ● Product Promotion Session/Technical Seminar: A conference room accommodating 100-600 people, ¥30,000 yuan for 60 minutes per session, used for venue setup and related equipment rental (including venue, audio and projection equipment, lighting, tables and chairs, tea and other supporting facilities and services, and assistance in organizing the audience for the presenting enterprise). ※Exhibition Participation Procedures: 1. Fill out the exhibition application form and fax or scan it to the organizing unit. Booth allocation principle: “first apply, first pay, first arranged.” 2. After the contract is confirmed and stamped by both parties, the exhibiting unit shall remit the exhibition fees by telegraphic transfer to the organizing unit’s collection account within 2 working days. 3. After remitting all fees, exhibitors are requested to fax the bank remittance slip to the organizing unit. 4. After receiving the exhibition fees, the organizing unit will issue the Exhibitor Manual to exhibitors within one month before the exhibition opens to confirm participation notes. ※ Organizing Committee Secretariat: Beijing Aibo International Exhibition Co., Ltd. Contact: Zhang Lei 17729729055 Fax: +86 010-86487300 E-mail: 2662486664@qq.com Website: http://byq.aiboexpo.com Scan to Book a Booth

[SMM North China Copper Cathode Market] Intraday copper prices rebounded, and downstream new orders showed a slowdown. However, as copper semis downstream gradually fulfilled orders placed after the previous copper price weakness, enterprises picked up goods today to restock copper cathode raw material.