1. Procurement Conditions The purchaser of this procurement project for cold-rolled steel strip for cored wire (AGZYFZHGXHD260325276365) was Ansteel Group Zhongyuan Industrial Development Co., Ltd. The funds for the procurement project came from self-raised sources. The project had met the procurement conditions, and an open inquiry and comparison was now conducted. 2. Project Overview and Procurement Scope 2.1 Project Name: Cold-Rolled Steel Strip for Cored Wire 2.2 Alternative Procurement Method in Case of Procurement Failure: Negotiated Procurement 2.3 For the content, scope, and scale of this project procurement, please refer to the attachment "Material List Attachment.pdf" for details. 3. Bidder Qualification Requirements 3.1 Consortium bidding was not permitted in this procurement. 3.2 This procurement required bidders to meet the following qualification requirements: See the attachment for details (if necessary) 3.3 This procurement required bidders to meet the following registered capital requirement: Registered capital: RMB 200,000 and above 3.4 This procurement required bidders to meet the following performance requirements: At least one steel strip sales contract within the past three years and the corresponding VAT invoice had to be provided. 3.5 This procurement required bidders to meet the following capability requirements, financial requirements, and other requirements: Financial requirements: See the attachment for details (if necessary) Capability requirements: See the attachment for details (if necessary) Other requirements: See the attachment for details (if necessary) 3.6 For projects that must be tendered in accordance with the law, bids submitted by dishonest persons subject to enforcement were invalid. 4. Acquisition of Procurement Documents 4.1 Any interested bidder should log in to the Ansteel Smart Tendering and Bidding Platform at http://bid.ansteel.cn to download the electronic procurement documents from 17:00 on March 26, 2026 to 13:00 on April 3, 2026 (Beijing time, the same hereinafter). Click to View Tender Details:

Faced with a severe energy supply crunch and skyrocketing prices triggered by the Middle East conflict, the Philippine Department of Energy has authorized the temporary use of "dirtier" Euro-II petroleum products, which contain ten times more sulfur than the current Euro-IV standard, specifically for older vehicles, industrial plants, and the shipping sector. This emergency measure follows diesel prices breaching 100 pesos per liter for the first time, a crisis exacerbated by the country's limited refining capacity and the 1998 Oil Deregulation Law. As the region grapples with the obstruction of the Strait of Hormuz, the Philippines joins neighbors like Vietnam and Thailand in pivoting back to high-emission fuels and coal to ensure domestic energy security amidst the global turmoil.

[SMM Tin Morning Briefing: The Most-Traded SHFE Tin Contract Opened Sharply Higher in the Night Session and Then Rebounded in Volatile Trading, While the Spot Market Will Gradually Cool Down]

Morocco has published the implementing decree for 'Law 82-21', officially enabling renewable energy self-consumption and surplus sales starting June 9, 2026. PV owners can now inject up to 20% of their annual production into the grid, earning up to MAD 0.21/kWh. To manage grid stability, the government capped total available capacity at 3,886 MW (72% solar). Research suggests this regulatory milestone could help unlock a 28.6 GW distributed solar market to support the country's broader low-carbon transition and future EV charging needs.

Nickel Ore " Sluggish RKAB Approvals Drive Potential for Ore Price Hikes" Indonesian domestic nickel ore prices have risen significantly increase this week. For the first half of March, the Indonesian Nickel Ore Benchmark Price (HPM) was set at $17.329/dmt, an increase of 1.32%. However, according to SMM data, average premiums has increased for 1.4%, 1.5%, and 1.6% grade laterite nickel ore were reported at $35, $39, and $39.5/wmt, respectively, with 1.6% grade reaching a delivered price of $65.6–$74.6/wmt. This strengthening of premiums reflects both the release of restocking demand from smelters and pessimistic expectations regarding RKAB quota reductions. Simultaneously, the delivery price for 1.2% grade limonite has edged up to $24–$26/wmt. Pyrometallurgical Ore: From a supply and demand perspective, Sulawesi is transitioning into the dry season; Konawe has reached optimal production levels, while Morowali is recovering from previous floods. However, Halmahera continues to be hampered by thunderstorms, resulting in high moisture content and dragging down mining efficiency. The market is facing a clear trend of declining ore grades. While some NPI smelters have begun accepting grades of 1.45% or lower, the supply of high-grade saprolite remains tight. As of mid-March, the ESDM has approved approximately 100 million tons of RKAB quotas. The remaining 160 to 170 million tons are expected to be processed by the end of March. However, due to the Eid al-Fitr (Lebaran) holidays (March 18–24), approval progress is expected to lag, exacerbating short-term supply tightness. Faced with resource uncertainty, some smelters have increased trade bonuses to secure raw materials. Transactions for low-grade saprolite are emerging at fixed prices lower than high-grade ores. Conversely, Limonite prices remain low due to a tailings dam landslide at a major MHP project, which has forced production lines to operate at low loads, hindering demand recovery. However, Limonite prices are expected to eventually follow Saprolite upward due to new project stockpiling and external island demand. Hydrometallurgical Ore Although the spot supply of hydrometallurgical ore is relatively sufficient, a tailings dam landslide at an MHP project in a certain industrial park has forced related production lines to operate at low loads, leading to a temporary weakness in demand. However, given the concerns over RKAB approval uncertainty, the stockpiling needs of newly commissioned projects, and the growing demand from outer islands, hydrometallurgical ore prices are expected to follow the trend of pyrometallurgical ore and remain elevated. On March 3, 2026, Tri Winarno, Director General of Mineral and Coal, clarified that rumors of a "25%–30% universal increase in RKAB quotas" are false. Quota supplements will be based on individualized assessments of production capacity and compliance, with the approval process not expected to start until the second half of 2026. Market Outlook: Due to the overall delay in RKAB approvals, nickel ore prices in April are expected to remain resilient with a strong "easy to rise, hard to fall" trend. Nickel Pig Iron "NPI Prices See Periodic Retracement as Tug-of-War Intensifies Between Cost Support and Downstream Pressure​​​​​​​" The average price of SMM 10-12% NPI average price rose by RMB 0.3 per nickel unit week-on-week to RMB 1090.2 per nickel unit (ex-works, tax included), while the Indonesia NPI FOB index decreased by USD 0.65 per nickel unit to an average of USD 138.28 per nickel unit. This week, following consecutive price drops in stainless steel finished products and LME/SHFE nickel, the High-Grade NPI market experienced panic selling and low-price liquidation, entering a phase of periodic decline. From the supply side, With ore prices remaining elevated, smelter production costs continue to rise. However, triggered by the sharp decline in futures markets, some traders began offloading arbitrage stocks at low prices, leading to a general softening of upstream quotes.From the demand side, Weighed down by falling stainless steel prices and the influx of low-priced spot goods, most steel mills have lowered their bid intentions, exerting downward pressure on NPI prices. Overall, while cost support for smelters remains, downstream suppression is evident. The combination of futures-driven market sentiment and loosening upstream quotes has led to a periodic retracement in High-Grade NPI Overall outlook, market transactions will remain under pressure in the short term as the cost-tug-of-war between upstream and downstream continues. However, the downward room for NPI prices is expected to be limited.

【Indonesia PMMI Blast Furnace to Ignite End-March; May Slab Trial Orders Open】 SMM March 20th: Permai (PMMI), a joint venture restructured by Indonesia Tsingshan Iron & Steel and Guangxi Guixin Iron & Steel Group, will launch its new blast furnace at the end of March. Based in Tsingshan Industrial Park, Morowali, Central Sulawesi, the project upgrades the original 580m³ NPI blast furnace to a 1216m³ carbon steel blast furnace with LF refining, boasting an annual capacity of 1.8 million tonnes. It focuses on high-grade special steel smelting and production of continuous cast slab and billet. Product Specifications & Order Info Thickness: 210/230mm Width: 1000-1650mm Length: 6000-11700mm Loading Port: Bahodopi, Morowali Trial orders for May shipment slab are accepted.

SMM Nickel, March 20: Macro and Market News: (1) The Party Committee of the People's Bank of China held an enlarged meeting on March 18, which stated that it would continue to effectively implement a moderately accommodative monetary policy, firmly safeguard the stable operation of financial markets such as equities, bonds, and foreign exchange, and advance legislative formulation and amendments including the People's Bank of China Law and the Financial Stability Law. (2) The interest rate futures market priced in only 5.5 basis points of US Fed interest rate cuts this year, and bets on rate hikes began to emerge. Spot Market: On March 20, the SMM price of #1 refined nickel rose by 3,000 yuan/mt from the previous trading day. In terms of spot premiums, the average price of Jinchuan #1 refined nickel was 6,550 yuan/mt, down 200 yuan/mt from the previous trading day, while the mainstream China electrodeposited nickel brands were quoted at -300-400 yuan/mt. Futures Market: The most-traded SHFE nickel contract (2605) staged a sharp rebound, closing the morning session at 134,780 yuan/mt, up 1.50. Yesterday, nickel prices once fell below the 130,000 yuan mark, as trades on expectations of a global economic recession triggered by escalating geopolitical conflict in the Middle East put the metals complex under pressure overall. Nickel prices then took the lead in rebounding sharply, recovering to around 135,000 yuan/mt in the morning session. Short term, sentiment from the macro perspective may continue to dominate the market, and nickel prices may maintain wide swings.

Delaware Depository, a COMEX/NYMEX Depository for the storage and delivery of gold, gold (enhanced delivery), silver, platinum, and palladium deliverable against the Exchange’s respective futures contracts, will implement new rates in connection with Storage of Gold, Gold (Enhanced Delivery), and Silver at its facilities located in Delaware. The new rates reflect the maximum amounts of fees that can be charged and will be effective July 1, 2026.

The current domestic rhenium spot market in China is characterized by differentiation across the industrial chain, two-way supply-demand game, and high-level consolidation. Overall market conditions are jointly driven by multiple factors, including macro investment sentiment, inventory restocking cycles, overseas supply chain risks, and domestic fundamental supply and demand. I. Upstream: Stable Price Range, Accelerated Shipments Major domestic upstream rhenium producers maintain stable raw material quotations, with the mainstream price range around 28,000. Only a small number of suppliers offer prices as high as around 30,000, forming a clear tiered price structure without major fluctuations. Recently, upstream producers have shown stronger willingness to sell, with a notable increase in shipment frequency. II. Midstream: Scheduled Production, Low Acceptance of High-Priced Ammonium Perrhenate Midstream refineries and rhenium processors are currently operating under scheduled production. Order deliveries are concentrated, with most manufacturers scheduled to fulfill orders in March and April.In terms of cost control and purchasing sentiment, midstream processors generally show low acceptance of high-priced ammonium perrhenate. Buyers tend to negotiate rationally and resist chasing high prices, which directly caps the upward room for ammonium perrhenate prices. III. Downstream: Cooling Investment Sentiment, Steady Recovery in Industrial Demand Downstream demand exhibits significant structural divergence between investment demand and industrial demand, which has become the key factor affecting short-term market sentiment. On the one hand, previously active investment demand has cooled, accompanied by panic selling among retail investors. Increasing low-price sell-offs have emerged in the market as holders offload at discounted prices to accelerate capital turnover, weighing on short-term spot transaction prices. On the other hand, industrial demand has steadily recovered and maintained growth. As the core rigid support for rhenium, the recovery of industrial demand provides a solid fundamental floor, offsetting part of the negative impact from investment-driven sell-offs. IV. Market Outlook Based on the macro environment and industrial supply-demand fundamentals, the domestic rhenium market is in a balanced game between bullish and bearish factors, keeping prices in high-level consolidation. Short-term Outlook Affected by the international macro environment, investment enthusiasm in the energy sector remains high, diverting capital away from non-ferrous metals. The overall weakening investment sentiment in the non-ferrous sector has spilled over to the niche strategic metal rhenium, suppressing investment demand.In addition, most market participants completed phased restocking around the Spring Festival, leaving inventories at relatively sufficient levels. As a result, raw material prices lack upward momentum, with limited room for significant gains in the short term. Long-term Outlook Geopolitical competition over critical minerals is intensifying. Progress in critical minerals negotiations between the U.S. and Chile, along with rising exclusive cooperation in global critical minerals supply chains, has reduced the stability of overseas ammonium perrhenate import channels and raised external supply risks.The expected tightening in ammonium perrhenate supply will provide strong support to market prices.

Recently, Joint Circular No. 00156 of the Ministry of Finance and the Ministry of Mines of the DRC / Cabinet of the Ministry of Mines / 2026 and Cabinet of the Ministry of Finance / 2026, concerning regulatory measures to standardize control over deviations in the detection of refined cobalt content in exported cobalt hydroxide under the quota system framework of the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets in the DRC, is translated as follows: The English translation of the above text is: