Recently, two hydrogen-powered excavators, two hydrogen-powered loaders, and four hydrogen-powered wide-body mining trucks were officially put into operation in the Jinshan mining area, marking the implementation of the integrated “production, storage, refueling, transportation, and use” layout of Daye’s hydrogen energy industry in the application segment. This achieved the large-scale use of hydrogen-powered heavy engineering equipment in mining areas across China and injected new momentum into the green, low-carbon transformation of mines. As core equipment developed by Taiyuan Heavy Machinery, the TZ350EH hydrogen-powered excavator and TZ958EH hydrogen-powered loader worked in coordination with hydrogen-powered wide-body mining trucks, covering the entire process of mining, loading, and transportation. The equipment emitted only pure water, thoroughly improving the operating environment of traditional mining areas. This batch of hydrogen-powered equipment was deeply optimized for the complex working conditions of mines, with prominent core advantages: the hydrogen-powered excavator featured zero emissions and low noise, and could operate at full load after just five minutes of hydrogen refueling; the hydrogen-powered loader integrated hydrogen power with heavy-load performance and, equipped with proprietary technology, reduced consumption and improved efficiency; the hydrogen-powered wide-body mining truck offered fast energy replenishment, a high energy recovery rate, and excellent low-temperature starting performance, laying a solid foundation for green transportation. This large-scale deployment enabled hydrogen-powered equipment to undergo practical verification in real mining scenarios. It not only opened up a new path for the clean replacement of mining equipment, but also stabilized market demand for upstream hydrogen production, storage, and transportation, promoted coordinated development across the upstream and downstream segments of the hydrogen energy industry chain, and provided a replicable and scalable practical model for transforming traditional mining areas into green and intelligent mines.

In February 2026, sales of various excavators totaled 17,226 units, down 10.6% YoY; of which domestic sales were 6,755 units (including 19 electric excavators), down 42% YoY. In February 2026, sales of various loaders totaled 9,540 units, up 9.28% YoY; of which domestic sales were 3,863 units (including 2,016 electric loaders), down 14.3% YoY. According to statistics from the China Construction Machinery Association on major grader manufacturers, sales of various graders in February 2026 reached 679 units, up 6.93% YoY.

A review of the data showed that auto production and sales in China remained at low levels, while exports stayed resilient. Excavators retreated from highs, and overall downstream performance was moderate. In terms of supply, HRC production was expected to rebound this week, but the pressure remained moderate. On exports, freight rates surged rapidly due to geopolitical conflicts, and most clients outside China stayed on the sidelines. Exporters in China reported mediocre order-taking for sheets & plates. Overall, HRC fundamentals were relatively stable in the short term, and prices would still mainly move sideways with the cost side.

According to Mining.com, Antimony Resources Corp. recently announced the expansion of the Marcus West Zone at its Bald Hill project in New Brunswick, Canada, and the discovery of "massive" stibnite ore. Through continuous trenching and sampling along the strike, the field team identified additional mineralization in the host rock. Stibnite is typically mined for the extraction of antimony. As global antimony supply tightens, Canada and the US are ramping up antimony exploration and development to meet the demand for this critical raw material in national defense and high-tech industries. The new discovery at Bald Hill is part of the company's 2026 exploration program, which also includes a 10,000-meter drilling program at the Main Zone. This exploration plan involves soil sampling, reconnaissance, and sampling. The company stated that an aerial survey is also under consideration. Drilling at the Marcus West Zone is set to begin shortly, with plans to complete up to six shallow holes to test mineralization at depths between 30 and 50 meters. Unexplored areas, including the Central Zone, will also be assessed. In 2010, trench sampling at the Central Zone revealed mineralization over 8.18 meters with an antimony grade of 2.90%, including intervals of 1.75 meters at 5.79% and 1.53 meters at 8.47%. Trenching by the company at the South Zone indicated stibnite mineralization over 150 meters. "We are very pleased to see the mineralized samples collected by our geologists using an excavator," said Jim Atkinson, CEO of the company, in a news release. "Clearly, this intensely mineralized area and the 'massive' stibnite are highly attractive," Atkinson noted. He also mentioned that drilling at the Main Zone is progressing well. The company stated that a second drill rig has recently been added.

Recently, the China Construction Machinery Association released the latest data for the "Construction Machinery Market Index" for January 2026. The data showed that in January, the average monthly working hours for China's main construction machinery products were 72.5 hours, up 23.9% YoY, but down 5.19% MoM. Among them, excavators recorded 62.8 hours. In January, the average monthly operating rate for China's main construction machinery products was 48.1%, down 2.63 percentage points YoY and down 3.63 percentage points MoM. Among them, the excavator operating rate was 48.6%.

On June 11, the 24th Shanghai International Power Equipment and Generator Set Exhibition (GPOWER 2025 Shanghai Power Expo) opened in Shanghai. As a bellwether in the global power sector, the Shanghai Power Expo has always been a key platform for industry exchanges and innovation displays, witnessing numerous technological breakthroughs and industrial transformations. YUANCHENG Methanol-Hydrogen Power made another appearance at the Shanghai Power Expo, showcasing its latest methanol-hydrogen electric power solutions that cover the full range of scenarios from 20kW to 420kW. It also unveiled two star products on-site: the YUANCHENG Mobile Power Supply Vehicle and the YUANCHENG Energy Replenishment Station, achieving efficient power supply with green fuel and uninterrupted energy replenishment for 24 hours, attracting the attention of numerous industry experts and exhibition guests. At the exhibition site, Xing Min, Executive Vice President of the China Internal Combustion Engine Industry Association, delivered a speech on-site, highly affirming the YUANCHENG methanol-hydrogen electric system and giving high praise to YUANCHENG's methanol-hydrogen electric products: "Methanol-hydrogen electric power is a new achievement in the diversified development of power and energy. Methanol fuel, with its advantages of being clean, renewable, and low-cost, has received strong support and promotion from the state. The methanol-hydrogen electric system achieves reductions in carbon emissions and energy consumption costs, which is of great significance to national energy security and industrial development." Centering around the construction of the methanol-hydrogen ecosystem, YUANCHENG has joined hands with industry chain partners. Vice President Xing Min, along with the guests present, witnessed the strategic signing of a contract for 528 methanol-hydrogen electric systems between YUANCHENG and its strategic partners. Through collaboration and synergistic innovation, both parties will promote the application of methanol-hydrogen electric technology in more fields and jointly usher in a new era of methanol-hydrogen power. At the exhibition site, the YUANCHENG Mobile Power Supply Vehicle and the YUANCHENG Energy Replenishment Station made their grand debut. By replacing traditional diesel generators with methanol-hydrogen electric generator sets, they offer a green, environmentally friendly, efficient, and economical solution for the power generation industry, providing new operational solutions. The YUANCHENG Mobile Power Supply Vehicle is not restricted by site or power grid. It uses green methanol fuel for mobile power supply and can provide uninterrupted energy replenishment for 24 hours. It solves the problem of charging and energy replenishment difficulties for new energy electric vehicles during peak travel periods on holidays and in remote areas. The vehicle is equipped with a 320kW methanol-hydrogen electric generator set, adopting lean-burn technology and a high-compression-ratio, high-tumble combustion chamber structure, with lightweight and modular designs for the cylinder head cover, oil pan, crankcase ventilation, etc. It achieves efficient combustion and low-carbon operation, reducing NOx by ≥98%, PM by ≥97%, and CO by ≥93%, while also offering better economic efficiency. The power generation cost of the mobile power supply vehicle is more than 50% lower than that of diesel. The YUANCHENG Mobile Power Supply Vehicle is equipped with a charging pile featuring 4 guns. The charging pile dynamically adjusts charging parameters based on data provided by the EV's battery management system, supporting the optional AC grid-connected power supply function. The configured charging pile supports a maximum output current of 250A and a maximum output power of 320kW, capable of simultaneously charging 4 EVs. Moreover, the charging pile is built into the vehicle's compartment, allowing for flexible deployment and on-call service. The multiple noise-reduction design (such as impedance composite mufflers, vibration isolation cushions, optimized air ducts, and sandwich cabin structures) effectively ensures a quiet charging environment. To meet the power supply needs of specific scenarios such as oilfields, Yuanchun's energy replenishment stations adopt a distributed multi-unit methanol-hydrogen electric system for grid connection, providing stable output and lower TCO costs. The operating cost is 1.14 yuan/kWh. Based on an annual operating time of 6000 hours, methanol-hydrogen electric charging piles can save 2.894 million yuan in annual fuel costs compared to diesel charging piles, allowing for the recuperation of the cost of an additional energy replenishment station within just one year of operation. Remote methanol-hydrogen electric power boasts several outstanding advantages: in terms of technological innovation, it applies technologies such as high compression ratios, high-energy ignition, high-tumble combustion chambers, optimized intake and exhaust systems, and turbocharged intercooling to achieve efficient combustion and robust power; in terms of economy, it precisely optimizes combustion through technologies like closed-loop control of the theoretical air-fuel ratio, offering a cost-effective and low-cost usage experience. It has a wide range of application scenarios, not only fitting various types of commercial vehicles but also successfully applied to construction machinery such as excavators, loaders, and cranes, as well as mining trucks, ships, and generator sets, providing high-value solutions for the full-scenario application of new energy. Especially in the shipping sector, remote methanol-hydrogen electric shipping solutions cover ship types ranging from 1000 to 15000 mt. Compared to pure electric solutions, they offer longer driving ranges and lower initial investments, enabling clean electric drive in offshore, river, and lake environments while enjoying policy subsidies, making them the preferred power source for green shipping. Taking an 80-meter, 2000-mt inland river cargo ship as an example, equipped with 2×280kW methanol-hydrogen electric systems + 290kWh batteries + 300kW dual motors, fuel costs are reduced by nearly 50% compared to diesel. Compared to pure electric ships, the increased cost of the power system can be recouped within 5 years. At this year's Shanghai Power Expo, multiple partners showcased their flagship products equipped with remote methanol-hydrogen electric systems, becoming the undeniable focus of attention. The "circle of friends" within the remote methanol-hydrogen electric ecosystem is continuously expanding. In the future, Yuanchun will continue to drive technological innovation and industrial collaboration, deepen full-scenario layouts, contribute core strength to the global power technology revolution and green low-carbon development, and accelerate the comprehensive arrival of the methanol-hydrogen era.

[Total Excavator Sales in May Increased by 2.1%, Domestic Sales Fell Short of Expectations] According to statistics from the China Construction Machinery Industry Association, a total of 18,202 excavators of various types were sold in May 2025, up 2.1% YoY. Among them, domestic sales reached 8,392 units, down 1.5% YoY, while exports stood at 9,810 units, up 5.4% YoY. In May, domestic excavator sales fell 1.5% YoY, with the growth rate declining by 17.8 percentage points from the previous value, falling short of expectations. The main reasons were the overconsumption of demand due to high sales growth at the beginning of the year and the weakening of the operating rate of construction machinery, which affected confidence on the demand side. Although domestic excavator sales fell YoY in May, sectors such as real estate and infrastructure have shown a marginal improvement trend since the beginning of the year. Meanwhile, with policy support, replacement demand is also expected to accelerate, and domestic excavator sales for the whole year are expected to maintain growth.

[National Bureau of Statistics (NBS): China's excavator production exceeded 100,000 units from January to April] The latest data from the National Bureau of Statistics (NBS) showed that in April 2025, China's excavator production reached 26,022 units, up 13% YoY. From January to April 2025, China's excavator production totaled 106,394 units, up 14.3% YoY.

[Many "Firsts" in Jiangxi] The first aircraft, the first diesel-wheeled tractor, the first military sidecar motorcycle, the first coastal defense missile, the first artificial satellite of New China, and even the current C919 large passenger aircraft were all born here. [Industrial Advantages] The non-ferrous metal industry is the largest pillar industry in Jiangxi Province. The new connotations of the "dual controls" on energy consumption, the "dual carbon" goals, and high-quality development have set new requirements for the expansion and strengthening of the non-ferrous metal industry. Promoting the further healthy, rapid, and orderly development of the non-ferrous metal industry and enhancing its core competitiveness are inevitable requirements for transforming Jiangxi from a major province of non-ferrous metal resources into a strong province of the non-ferrous metal industry. It is also a crucial measure to facilitate Jiangxi's achievement of carbon peaking by 2030. Relying on Jiangxi Province's abundant non-ferrous mineral resources, the non-ferrous metal industry in Jiangxi has developed rapidly, with its scale continuously expanding and its level steadily improving. It has become the largest pillar industry in Jiangxi, currently a key "trillion-yuan" industry being cultivated in the province, and an undeniable "anchor" of Jiangxi's manufacturing sector. Jiangxi has become an important mining and production site for non-ferrous metals in China. Jiangxi Province boasts superior ore-forming geological conditions and abundant mineral resources, making it one of China's important bases for non-ferrous, rare, rare earth, and uranium minerals, with a relatively high degree of mineral resource complementarity. Jiangxi's seven major types of minerals—copper, tungsten, rare earths, uranium, tantalum-niobium, gold, and silver—are known as the "Seven Golden Flowers." According to Jiangxi Province's "2+6+N" action plan for high-quality and leapfrog development of industries, the province's main business income from the non-ferrous metal industry is expected to reach the trillion-yuan level. To promote the healthy development of Jiangxi Province's non-ferrous metal industry, facilitate foreign economic and trade cooperation, and guide the integration of Jiangxi's non-ferrous metal industry with international standards, the organizing committee, after conducting in-depth market and project analysis surveys at the grassroots level multiple times with government authorities and industry associations, has decided to hold the "2025 China (Jiangxi) International Non-Ferrous Metals and Metallurgical Industry Exhibition" at the Nanchang Greenland International Expo Center from November 23-25, 2025. We look forward to seeing you there! [ Exhibition Schedule ] Registration and Booth Setup: November 21-22, 2025; Opening Ceremony: 9:30 AM, November 23, 2025 Exhibition and Trading: November 23-25, 2025; Dismantling of Booths: 2:00 PM, November 25, 2025 [Scope of Exhibits] Non-Ferrous Metal Raw Materials: Raw materials of non-ferrous metal mineral products such as copper, aluminum, magnesium, titanium, zinc, lead, manganese, zirconium, vanadium, nickel, molybdenum, silicon, antimony, tin, chromium, tungsten, tantalum, and indium; magnetic materials, rare and rare earth materials, precious metal materials, and various alloy materials; Non-Ferrous Metal Products: Copper products, aluminum products, titanium alloy products, magnesium alloy products, powder metallurgy products, etc.; Metallurgical Equipment and Technologies: Smelting furnaces, refining equipment, smelting pumps and valves, conveying equipment, heat exchange equipment, flue gas acid-making equipment, corrosion-resistant equipment, hydrometallurgy equipment, electrolysis equipment, high-power rectifier power supplies, electrolytic cells, extraction equipment, surface treatment equipment, etc.; Metalworking Machine Tools: Lathes, milling machines, sawing machines, drilling machines, grinding machines, punch presses, boring machines, and machining centers. Electrical discharge machines (EDMs), wire-cut EDMs, laser processing equipment, etc.; Metal automation control equipment: frequency converters, fieldbuses, industrial personal computers (IPCs), instruments and meters, automation control, robots, electronic application systems, weighing instruments, and information-based solutions for the equipment manufacturing industry, etc.; Auxiliary materials for metal production: chemicals, solvents, refractory materials, catalysts, gases, lubricating oils, etc.; Powder metallurgy: raw materials, equipment, products, 3D printing, polymer powder materials, ceramic powder materials; Casting, die-casting, and forging: supporting products such as castings, casting equipment, casting materials, casting molds, casting/pouring robots, new casting technologies, various heat treatment furnaces, industrial furnaces, die-castings, die-casting molds, die-casting machines and peripheral equipment, post-processing equipment for die-castings, surface treatment technologies and equipment, die-casting robots, and supporting products for new die-casting technologies, forgings, flanges and ring parts, forging equipment and accessories, surface treatment technology and equipment, automation, forging mold manufacturing technologies and equipment, and forging raw materials. Geological (mine) exploration technology and equipment: geophysical prospecting technology, geochemical prospecting technology, aerial survey and remote sensing technology, surveying and mapping technology, geological data processing, mineral product analysis, and laboratory instruments and meters. Mining technology and equipment: excavation equipment, drilling and rock-breaking equipment, loading equipment, transportation equipment (excavators, loaders, underground mining vehicles, mine dump trucks), hoisting equipment, drilling rigs, construction machinery, etc. [Media Promotion] 65 authoritative financial media outlets, including Jiangxi Daily, Jiangxi TV's Economic Channel, Dajiang.com's Finance Channel, Jiangxi.com, China.com, China Daily Website, and China Finance Online; 10 popular self-media platforms, including Sohu, NetEase, and Toutiao; 53 leading professional media outlets in industries such as China Mining Network, China Excavator Network, China Foundry Network, China Die Casting Network, China Automotive Manufacturing Network, China Nonferrous Metals Network, Nonferrous Metals Information Network, and metalworking, as well as 180 other relevant professional media outlets in other industries; Comprehensive keyword search customer coverage through online search platforms such as Baidu Promotion and 360 Promotion; [Concurrent Events] 2025 China Foundry Technology Innovation Outstanding Contribution Award Ceremony 2025 China Metallurgical Melting and Casting Technology Seminar 2025 China Recycled Metal Industry Chain Integration and Development Forum 2025 China New Energy Vehicle and Auto Body Lightweight Summit Forum 2025 China Green Mine Development Forum [Exhibition Details] ★Standard booth (3m×3m): Domestic enterprises: RMB 9,800 yuan per booth; Foreign enterprises: RMB 15,800 yuan per booth; ★International brand booth (9 ㎡, with luxury decoration): RMB 12,800 yuan per booth; Foreign enterprises: RMB 18,800 yuan per booth; ★Indoor bare space (minimum rental area of 36㎡): Domestic enterprises: RMB 1,000 yuan per ㎡; Foreign enterprises: RMB 2,000 yuan per ㎡; Booth equipment: Two fluorescent tubes, one waste paper basket, display panels, header boards, one table and two chairs, air conditioning, lighting, security, cleaning, etc. Note: No exhibition equipment or facilities are provided in the open space. The special decoration management fees and {{hydropower}} fees charged by the exhibition hall shall be borne by the exhibitors and their special decoration contractors. [Secretariat of the Organizing Committee] Contact Person: Jia Song 150-3826-2376 (WeChat sync) 138-3921-4033 (WeChat sync)

★Macro★ 01 ★★★ China and the 10 ASEAN Countries Fully Concluded the China-ASEAN Free Trade Area 3.0 Negotiations The Special Meeting of the China-ASEAN Economic and Trade Ministers was held online on May 20, where the economic and trade ministers of both sides jointly announced the full conclusion of the China-ASEAN Free Trade Area 3.0 negotiations. The 3.0 negotiations were launched in November 2022, and after nearly two years and nine rounds of formal negotiations, they were substantially concluded in October 2024. With the full coordination and joint efforts of the economic and trade ministers of various countries, both sides fully completed the negotiations, taking a crucial step towards the goal of signing the upgrade protocol. ★Industry and Downstream★ 01 National Bureau of Statistics: China's Excavator Production Exceeded 100,000 Units from January to April The latest data from the National Bureau of Statistics shows that in April 2025, China's excavator production reached 26,022 units, up 13% YoY. From January to April 2025, China's excavator production totaled 106,394 units, up 14.3% YoY. 02 Simandou Railway Successfully Completed Full-Span Beam Erection Maribaya, Guinea, May 19, 2025—With the final 32.6-meter-long, 134.3-mt T-beam securely placed on the Kabélé River Bridge, the full-span beam erection task for the 205 bridges and a total of 9,116 T-beams of the Simandou Railway across Guinea was successfully completed! This national transportation artery, spanning over 600 kilometers from east to west in Guinea, has now fully established its "skeleton framework," marking the official entry of the Simandou project into a new phase of sprinting towards operation. 03 [SMM Building Materials Inventory Overview] Hangzhou and Guiyang Inventories Rose WoW As of May 21, this week's total building materials inventory in Xi'an was 423,000 mt, down 31,000 mt WoW, a WoW decline of 6.83%. This week's inventory in Hangzhou was 751,000 mt, with a WoW inventory buildup of 11,000 mt, up 1.49% WoW. As of May 21, this week's total building materials inventory in Guiyang was 53,400 mt, up 2,100 mt WoW, a WoW increase of 4.1%; among which rebar inventory was 31,300 mt, up 8,000 mt WoW; wire rod inventory was 22,100 mt, up 1,300 mt WoW. As of May 20, 2025, building materials inventory in Beijing was 433,600 mt, down 68,000 mt compared to May 13, a WoW decline of 13.56%, with overall inventory accelerating its decline. 04 [SMM HRC Inventory Overview] Shanghai and Lecong HRC Inventories Showed Mixed Changes WoW This week's HRC inventory in Shanghai was 29.56 mt, up 1,700 mt WoW, an increase of 0.58%; with a YoY decline of 27.44% on the Gregorian calendar and a YoY decline of 24.13% on the lunar calendar. This Week Lecong HRC Inventory 63.03 mt, down 30,800 mt WoW, a decrease of 4.66%; down 347,600 mt YoY, a decrease of 35.55%. 05 [SMM Blast Furnace Operating Rate] More Blast Furnaces Undergoing Annual Maintenance, Pig Iron Production Continues to Decline According to the SMM survey, as of May 21, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 88.41%, down 0.23 percentage points WoW. The capacity utilisation rate of blast furnaces was 90.08%, down 0.37 percentage points WoW. The daily average pig iron production of the sample steel mills was 2.4303 million mt, down 10,000 mt WoW. ★Other Hot Topics★ ⭕ [Shanghai Municipal Government's Special Action Plan to Boost Consumption: Accelerate the Construction of a New Model for Real Estate Development and Progressively Renovate Old Residential Areas] The General Office of the Shanghai Municipal People's Government issued the "Special Action Plan to Boost Consumption in Shanghai". It mentioned that it would better meet housing consumption needs. Accelerate the construction of a new model for real estate development, and build "good homes" that are safe, comfortable, green, and smart. Expand the scope of comprehensive renovations for beautiful homes and progressively renovate old residential areas. Expand the supply of affordable rental housing, with a focus on young people. Support residents' rigid and improvement housing needs, and implement relevant tax policies to promote the steady and healthy development of the real estate market. Expand the scope of application of housing provident funds, explore and optimize the policies for the use of housing provident funds, and implement the implementation measures for the payment, withdrawal, and use of housing provident funds by flexible workers in the city. ⭕ [Shanghai Municipal Government's Special Action Plan to Boost Consumption: Intensify and Expand the Implementation of Trade-in Policies for Consumer Goods] The General Office of the Shanghai Municipal People's Government issued the "Special Action Plan to Boost Consumption in Shanghai". It mentioned that it would intensify and expand the implementation of trade-in policies for consumer goods. Promote automobile consumption and implement the national automobile scrappage and renewal subsidies and the city's automobile replacement and renewal subsidy policies. Implement the national home appliance trade-in subsidy policy, add new subsidies for the purchase of digital products such as mobile phones, tablets, and smartwatches (bands), and intensify support for the consumption of green home appliances, home furnishings, and home improvement products. ⭕ [Panzhihua Steel Wins Largest Single Order for Forged Superalloys] Recently, Panzhihua Changcheng Special Steel successfully secured an order for 345 mt of forged superalloys in four specifications from a high-end domestic aviation customer. This is the first time Panzhihua Steel has won a large order exceeding 300 mt for a single forging, marking a key step forward in the domestic manufacturing of high-end metal materials. ⭕ [HBIS's Nickel-Based Alloy Hot-Rolled Wide Sheets Promote Localisation of High-End Manufacturing Materials] Recently, HBIS Materials Research Institute delivered two types of nickel-based alloy hot-rolled wide sheets, NS334 and NS336, to customers. After rigorous inspection by customers, all indicators of the products met the relevant standard requirements, and they excelled in corrosion resistance, high-temperature strength, and application scope. This marks a breakthrough for HBIS in the production of nickel-based alloy hot-rolled wide sheets, breaking foreign monopolies. It not only enhances HBIS's competitiveness in the domestic and overseas markets but also contributes to the application of domestically produced steel in China's high-end manufacturing sector. ⭕ [Successful Launch of New No.1 Converter in JISCO Hongxing's Ultra-Low Emission Retrofit Project] Recently, significant progress has been made in the ultra-low emission retrofit project in the steelmaking area of JISCO Hongxing Hongyu New Materials Company: the newly retrofitted No.1 converter was successfully launched, marking a crucial period in the project's construction. This has accumulated valuable experience for the subsequent retrofitting of No.2 and No.3 converters and has also pressed the "accelerator" for the enterprise's green and low-carbon transformation and development. ⭕ [Successful Precision Hoisting of Ultra-Large-Span Crane Beam in JISCO Carbon Steel Sheet Mill Project] On May 16, a key milestone was reached in the process optimization and product structure adjustment project of JISCO Carbon Steel Sheet Mill—the 52.6-meter large-span crane beam was precisely hoisted into place, marking the successful completion of a critical period in the "100-Day Crucial Task" retrofit project of the tunnel furnace and laying a solid foundation for the subsequent construction of the project. ⭕ [South Korea's Steel Exports to the US Fell 10% YoY in the First Four Months] According to reports, South Korea's steel export value to the US from January to April this year was $1.384 billion, a 10.2% YoY decrease, which was significantly larger than the decrease in steel export value to markets other than the US during the same period (2.6%).