The 2025 2nd SMM Southeast Asia Automotive Supply Chain Conference was successfully held, featuring the on-site launch of 10 new car models, Southeast Asia brand strategies from three automakers, and SMM Thailand local steel prices. The event facilitated efficient matchmaking between 12+ buyers and 60+ suppliers, preliminarily establishing a communication platform for the entire industry chain of Southeast Asian automotive. Currently, the Southeast Asian NEV industry is entering a critical development phase, with Thailand, Indonesia, and Vietnam each making their own strategic deployments and breakthroughs, while the industry also faces challenges such as supply chain restructuring, competition among technology routes, and localization compliance. Thanks to the support from all parties, SMM's Thailand and Indonesia local pricing systems have been implemented and adopted by core enterprises, establishing a credible cost benchmark for the industry. The 2026 3rd Conference will focus on three core themes: exploring the NEV auto sales potential in Southeast Asia; connecting the last mile of the supply chain and integrating regional industry chain resources; and advancing SMM Southeast Asia metal pricing from a price reference to a transaction benchmark, implementing procurement applications for electrification materials and establishing an executable pricing system. We firmly believe that true progress comes from turning consensus into action. At this conference, BEST sincerely invites you to gather again in Bangkok, to jointly transform strategic blueprints into market competitive advantages, to witness and participate in this extraordinary and far-reaching industry event, and to co-create a brilliant new chapter! Click the to register now. Booth No.: B04 BEST (300580), founded in 1997, is a national-level high-tech enterprise. With total corporate assets exceeding 3.9 billion yuan and more than 2,000 employees, it stands as a leading enterprise in the field of intelligent precision manufacturing. Wuxi Best Precision Machinery Co., Ltd. (Stock Code: 300580), founded in 1997, is a national-level high-tech enterprise. With corporate total assets exceeding 3.9 billion yuan and more than 2,000 employees, standing as a leading enterprise in the field of intelligent precision manufacturing. With nearly 30 years of in-depth dedication to precision intelligent manufacturing, BEST has established three key business segments: First, R&D and manufacturing of precision parts, intelligent equipment, and tooling fixtures; Second, core components for NEVs, hydrogen fuel cells, energy storage systems, and liquid cooling systems of computing power centers; Third, linear motion functional components for industrial machine tools, humanoid robots, and other industries, fully covering core high-end manufacturing tracks. With nearly 30 years of in-depth dedication to precision intelligent manufacturing, Wuxi Best have established three key business segments: first, the R&D and manufacturing of precision components, intelligent equipment and tooling fixtures; second, key parts for new energy vehicles, hydrogen fuel cells, energy storage systems and liquid cooling systems of computing power centers; third, linear motion functional components for industrial machine tools, humanoid robots and other industries, fully covering core high-end manufacturing tracks. The company has established three modern production sites in Wuxi, Anhui, and Thailand. Leveraging the coordinated development of four major industry chain sectors—tooling, casting, precision processing, and intelligent manufacturing—it has built competitive advantages across the entire industry chain, with annual revenue exceeding 1.5 billion yuan. Its clients span the globe, including renowned enterprises such as Garrett, Cummins, and BMW. In 2024, BEST invested and established BYH New Technology Co., Ltd. in Amata City Industrial Estate, Chon Buri, Thailand, covering an area of 80,000 m², with a focus on high-end casting and precision processing to accelerate its expansion outside China. The company has built three modern production bases in Wuxi, Anhui and Thailand. Supported by the coordinated development of four major industrial sectors including tooling, casting, precision processing and intelligent manufacturing, it has formed full-industry-chain competitive advantages with annual operating revenue exceeding 1.5 billion yuan. Its global clients include renowned enterprises such as Garrett, Cummins and BMW. In 2024, Best invested and established BYH New Technology Co., Ltd. in Amata City Industrial Estate, Chon Buri, Thailand. Covering an area of 80,000 square meters, the subsidiary focuses on high-end casting and precision processing to accelerate overseas business expansion. Main Products Adhering to the philosophy of precision craftsmanship and intelligent manufacturing, and backed by mature processes, stringent quality control, and intelligent production lines, the company offers customized products and integrated intelligent manufacturing solutions. We sincerely invite global clients to discuss cooperation for mutual development! Adhering to the philosophy of exquisite craftsmanship and intelligent manufacturing, the company provides customized products and integrated intelligent manufacturing solutions backed by mature technologies, strict quality control and intelligent production lines. We sincerely welcome global business partners to discuss cooperation and seek win-win development! Contact Information Contact Contact Us Yan Caowei 15618581967

SMM May 23: Metals market: Overnight, domestic market base metals mostly rose. SHFE copper gained 0.58%. SHFE aluminum fell 0.14%, SHFE lead rose 0.3%. SHFE zinc dipped 0.16%. SHFE tin rose 1.09%. SHFE nickel gained 0.49%. In addition, the most-traded alumina futures contract fell 0.77%, and the most-traded foundry aluminum futures contract slipped 0.06%. Overnight, ferrous metals mostly fell. Iron ore was flat at 792.5 yuan/mt, stainless steel rose 0.34%, rebar edged down 0.09%, and hot-rolled coil fell 0.15%. Coking coal and coke: coking coal extended its decline for a third consecutive trading day, falling 1.45%, while coke dropped 0.95%. Overnight overseas metals market, LME base metals rose across the board. LME copper gained 0.18%. LME aluminum rose 0.45%, LME lead rose 0.4%. LME zinc edged up 0.06%. LME tin rose 1.16%. LME nickel gained 0.67%. Overnight precious metals : COMEX gold fell 0.7%, posting a second consecutive weekly decline with a weekly loss of 1.13%; COMEX silver fell 1.06%, declining for two consecutive weeks with a weekly loss of 2.1%. Overnight, the most-traded SHFE gold futures contract fell 0.1%, posting a second consecutive weekly decline with a weekly loss of 2.13%; the most-traded SHFE silver futures contract rose 0.51%, while SHFE silver declined for two consecutive weeks with a weekly loss of 7.81%. As of 8:31 AM on May 23, overnight closing prices: Macro front China: [PBOC: 600 billion yuan MLF operation to be conducted on May 25] PBOC: To maintain ample liquidity in the banking system, on May 25, 2026, the PBOC will conduct a 600 billion yuan MLF operation with a fixed quantity, interest rate tender, and multiple-price winning method, with a maturity of one year. [CSRC: Crackdown on illegal cross-border securities operations; investors' property safety unaffected by the rectification] Xinhua News Agency reported that recently, with the approval of the State Council, the CSRC and seven other departments jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Business Activities." Regarding this rectification, all parties are highly concerned about how the legitimate rights and interests of existing investors will be protected. In this regard, the plan emphasized that investors' property safety will not be affected by the rectification. A CSRC official stated that the plan specified numerous measures to safeguard the legitimate rights and interests of existing investors. For example, a two-year concentrated rectification period will be set up to phase out relevant domestic services of overseas institutions. Overseas institutions are required to properly communicate with investors affected by the rectification measures in China and arrange account disposal to ensure client property safety. [HKSFC: Enhanced Measures to Address Forged Document and Money Laundering Risks and Raise Account Opening Standards] The Hong Kong Securities and Futures Commission (SFC) issued a circular on May 22, setting out the monitoring measures that should be implemented when opening accounts and maintaining customer relationships. The circular was issued following the SFC's review of account opening practices at 12 securities brokerages. The review identified several significant deficiencies, including inadequate due diligence on account opening documents, acceptance of suspicious or forged documents during the account opening process, and weaknesses in managing cross-border correspondent relationships with ex-China intermediaries. (Wallstreetcn) US dollar: The US dollar index rose 0.12% overnight, closing at 99.32. On a weekly basis, the US dollar index posted its second consecutive weekly gain, up 0.04% for the week. The 17th Fed Chairman Warsh was sworn in at the White House on Friday. Warsh stated: "The Fed's mission is to promote price stability and full employment." He said, "When these goals are pursued with wisdom and clarity, independence and resolve, inflation can be lower, economic growth can be stronger, real take-home wages can be higher, America can be more prosperous, and just as importantly, America's standing in the world can be more secure." He added: "To fulfill this mission, I will lead a reform-oriented Fed that learns from past successes and mistakes, breaking free from static frameworks and models while adhering to clear standards of integrity and performance." (Jin10 Data) Fed Governor Waller's hawkish remarks put US Treasury prices under pressure, with money markets fully pricing in a 25-basis-point interest rate hike in 2026. The most significant policy signal on Friday came from Fed Governor Waller. On Friday local time, Fed Governor Waller stated that as the energy shock from the Iran war pushes prices higher, he supports making it clear that the Fed's next rate move is as likely to be a hike as an interest rate cut. Waller said his current stance is to remain patient and keep rates unchanged until the impact of the war becomes clearer, but he warned on Friday that he does not rule out the possibility of future rate hikes if inflation does not begin to slow down soon. Waller's remarks were released almost simultaneously with the swearing-in of new Fed Chairman Warsh. The interest rate environment Warsh currently faces is notably more hawkish than the Fed's internal dot plot expectations. (Wallstreetcn) "Fed whisperer" Nick Timiraos wrote that there were several key moments during Kevin Warsh's swearing-in ceremony at the White House: ① Trump asked Warsh to be "completely independent."Trump said, "(I hope he) doesn't look at me, doesn't look at anyone." ② Just two minutes later, Trump offered some "suggestions," indicating the economic direction he hoped to see: "Strong economic growth doesn't need to be cooled down," "Economic growth doesn't mean inflation," and "I hope the economy booms to unprecedented levels, because there is indeed some debt that needs to be dealt with." ③ Trump hinted that the Fed's decision-makers would "converge." He said other Fed policymakers "will make their own decisions, but they will listen to Kevin's views throughout," even those "whose positions differ slightly." ④ Waller referenced Greenspan, not Bernanke. Waller looked back at history, recalling the scene of Greenspan being sworn in at the White House in 1987, and pledged to "begin work with abundant energy and a sense of mission, just as Chairman Greenspan did." He did not mention former Chairman Bernanke, with whom he had worked for five years during his previous tenure as a governor. (Jin10 Data) In addition, affected by the Iran war, the US consumer confidence index in May fell to a historic low, and long-term inflation expectations also deteriorated significantly. Data showed that the University of Michigan's final consumer sentiment index for May dropped to 44.8, with consumers expecting prices to rise at an annualized rate of 3.9% over the next five to ten years, up from 3.5% in April and hitting a seven-month high. They also expected prices to rise 4.8% over the next year. Gasoline prices continued to hover near their highest levels since 2022, exacerbating Americans' concerns about rising living costs and the failure to reach an agreement to end the war. The impact of inflation on household budgets, particularly for low-income consumers, poses risks to the future consumption outlook. Joanne Hsu, the survey director, stated: "The cost of living remains the top concern for people, with 57% of respondents voluntarily noting that high prices are eroding their personal finances, up from 50% the previous month." She stated: "The key point is that consumers appear to worry that inflation will not only spread beyond fuel prices to other areas, but that this upward trend will persist well into the future." (Jin10 Data) Regarding other currencies: ECB President Lagarde stated that despite the deepening impact of the Iran conflict, long-term inflation expectations remained broadly in line with the 2% target. Although the energy crisis was pushing up inflation and dragging down the economy, long-term inflation expectations overall remained well anchored. The impact of this conflict on medium-term inflation and economic activity will depend on the intensity and duration of the energy price shock, as well as the magnitude of its indirect transmission effects. (Wall Street CN) Bank of Japan Governor Ueda Kazuo stated that Prime Minister Takaichi Sanae told him during their meeting on Friday that she hoped the BOJ would adopt appropriate policies, taking into account the government's price measures. Speaking to reporters after the meeting with Takaichi Sanae at the Prime Minister's residence in Tokyo, Ueda Kazuo said it was a routine meeting between the two and that no specific details of monetary policy were discussed. (Wall Street CN) On the macro front: Data to be released next week include: UK May CBI retail sales balance, US March FHFA house price index MoM, US March S&P/CS 20-city non-seasonally adjusted house price index YoY, US May Conference Board consumer confidence index, US May Dallas Fed business activity index, Australia April non-seasonally adjusted CPI YoY, New Zealand RBNZ interest rate decision through May 27, Switzerland May ZEW investor confidence index, US weekly ADP employment change for the week ending May 9, US May Richmond Fed manufacturing index, Eurozone May industrial confidence index, Eurozone May economic sentiment index, Canada Q1 current account, US initial jobless claims for the week ending May 23, US April core PCE price index YoY, US April personal spending MoM, US Q1 real GDP annualized QoQ revised, US April core PCE price index MoM, US April durable goods orders MoM, US April new home sales annualized, Japan April unemployment rate, France May CPI MoM preliminary, France Q1 GDP YoY final, Germany May seasonally adjusted unemployment change, Germany May seasonally adjusted unemployment rate, Germany May CPI MoM preliminary, Canada March GDP MoM, US May Chicago PMI, and China May official manufacturing PMI. In addition, key events to watch next week include: 500 billion yuan in 1-year medium-term lending facility (MLF) and 1 billion yuan in 7-day reverse repo maturing today; BOJ Governor Ueda Kazuo delivering a speech at a monetary policy conference hosted by the BOJ; RBNZ releasing its interest rate decision and monetary policy statement; RBNZ Governor Breeman holding a monetary policy press conference; ECB publishing the minutes of its April monetary policy meeting; permanent FOMC voter and New York Fed President Williams delivering a keynote speech at a conference co-organized by the Central Bank of Iceland; 2028 FOMC voter and St. Louis Fed President Musalem delivering a speech; Bank of England Governor Bailey delivering a speech; 2028 FOMC voter and Kansas City Fed President Schmid delivering a speech; and US Fed Governor Bowman delivering a speech. Additionally, it is worth noting that due to the Memorial Day holiday, the US stock market will be closed on May 25 (next Monday); CME Group's precious metals and WTI crude oil futures contract trading will end early at 02:30 Beijing time on the 26th, and US equity and Treasury futures contract trading will end early at 01:00 Beijing time on the 26th. Due to the Buddha's Birthday holiday, the Hong Kong stock market will be closed on May 25 (next Monday), with southbound and northbound trading suspended; the South Korean stock market will also be closed on the same day. In addition, due to the Spring Bank Holiday, the UK stock market will be closed on May 25 (next Monday); ICE Brent crude oil futures contract trading will end early at 01:30 Beijing time on the 26th. Investors are advised to take note. (Jin10 Data) Crude oil: Overnight, both oil futures rose, with WTI up 0.67% and Brent up 1.62%. On a weekly basis: WTI futures declined, down 3.98% for the week; Brent also declined weekly, down 4.59% for the week. Since the ceasefire agreement was reached in April this year, US-Iran negotiations have remained deadlocked, with no comprehensive agreement to end the conflict in sight. Although a draft reportedly "close to being reached" is emerging, four core obstacles still stand in the way of lasting peace. According to Bloomberg, the Strait of Hormuz, nuclear issues, the Lebanon conflict, and sanctions currently constitute the four core points of divergence in the negotiations. For investors, this war has plunged global energy markets into severe turbulence, and any progress or breakdown in negotiations will impact commodity prices. (Wallstreetcn) Iranian Foreign Ministry spokesperson Baghaei stated on the 22nd that it cannot be concluded that a US-Iran agreement is close to being reached, as significant differences remain between the two sides. According to Iranian media reports on the 22nd, Baghaei, commenting on the visit of senior Pakistani officials to Tehran, said this indicates the current situation has entered a "turning point or decisive stage." He mentioned that Pakistan's Chief of Army Staff Munir had visited Tehran, and related communications are still ongoing. When asked "whether this means a change in the negotiation process," Baghaei said it cannot be said that a US-Iran agreement is close to being reached, as there are serious and extensive differences between the US and Iran, and "diplomacy is a time-consuming process." Baghaei said one should not expect to see results within weeks or months through several rounds of back-and-forth consultations. He emphasized that diplomatic negotiations are inherently a long-term process, and both sides are utilizing various opportunities to convey their respective positions. (Xinhua News Agency) Baker Hughes data showed: US drilling companies increased oil and natural gas rig counts for the fifth consecutive week. The US total oil rig count for the week ending May 22 was 425, compared to the previous reading of 415. In addition, KazMunayGas: Q1 oil production decreased 12% YoY to 5.6 million mt. (Jin10 Data) According to Bloomberg, affected by the Iran war, the national average gasoline price in the US has surpassed $4.5 per gallon, with California exceeding $6. Despite high prices, consumers did not significantly reduce their fuel purchases. For most Americans, driving to work and picking up children are daily necessities. Gasoline spending is nearly impossible to cut, leaving consumers to trim discretionary spending to balance their budgets. Avarisse Crawford, a Philadelphia resident, said she had reduced entertainment expenses, replacing steak dinners and bar outings with free park activities. The Middle East situation continued to push oil prices higher, as the effective blockade of the Strait of Hormuz hindered global crude oil transportation. US gasoline inventory fell to its lowest level for the same period since 2014, and Morgan Stanley projected it would hit a seasonal historic low by the end of August. Facing continued climbing oil prices, the Trump administration released strategic petroleum reserves, waived the Jones Act, and discussed implementing a federal gasoline tax holiday, but the effects remained unclear. As the Memorial Day weekend kicked off the summer travel season, upward demand pressure threatened to further strain already tight inventory. (Wallstreetcn) Recommended Reading:

Indonesia has done this before. A commodity export ban, a rush of downstream investment, processing capacity built faster than the upstream can honestly support, and a market that eventually corrects in the most painful way possible. The nickel sector wrote that playbook. The bauxite sector is now following it, page by page, with one additional complication that makes the stakes materially higher.

May 22, 2026: Customs data showed that China's aluminum wire exports totaled 27,580 mt in April 2026, up 4.7 percentage points MoM and up 28.95 percentage points YoY. From January to April, China's aluminum wire exports totaled 107,200 mt, up 29.35 percentage points YoY. (HS codes: 76141000, 76149000) By sub-category, HS code 76141000 mainly covers steel-core aluminum stranded wire, with April exports totaling 12,000 mt, down 34.4 percentage points MoM; HS code 76149000 mainly covers aluminum stranded wire, with April exports totaling 15,500 mt, surging 94.5 percentage points MoM. In terms of share, aluminum stranded wire typically accounts for 30%-40% of total exports, but as the price spread between domestic and overseas markets widened, export orders for pure aluminum stranded wire increased significantly, with its export share rising to 56.4% in April. As the price spread between domestic and overseas markets is expected to persist, export orders for pure aluminum stranded wire are expected to grow favorably, with aluminum stranded wire exports in May expected to exceed 20,000 mt, potentially accounting for over 60% of aluminum wire exports. Based on April customs data, aluminum stranded wire (without steel core) was exported to a total of 68 countries, with the top 15 countries accounting for 13,660 mt in total, or 87.8%, indicating a relatively concentrated export destination profile. Among the top 15 countries, Southeast Asia was the primary export region, with 4 countries accounting for 4,525 mt (33.1%); Africa ranked second, with 5 countries accounting for 4,189 mt (30.6%); East Asia mainly comprised exports to developed countries South Korea and Japan, totaling 3,367 mt (24.6%); South America involved 3 countries, with exports totaling 1,276 mt (9.3%). Overall, China's aluminum wire exports in May are expected to sustain growth momentum, mainly boosted by domestic aluminum stranded wire orders. Based on enterprise production schedules, aluminum stranded wire export orders from May to July are expected to continue ramping up, with pure aluminum stranded wire (without steel core) monthly exports expected to exceed 20,000 mt; meanwhile, steel-core aluminum stranded wire exports are expected to remain stable due to power grid construction demand in Africa, Southeast Asia, and South America. In summary, China's total aluminum wire exports in May are expected to set a new single-month record for the past five years.

This week's stainless steel futures market reflected a classic divergence: external macro headwinds drove paper weakness, while domestic spot fundamentals held firm. We break down what drove the disconnect and what to watch next.

SMM data shows that overseas stainless steel prices saw their first correction after six months of gains during May 18–22. Indonesia’s leading mills cut FOB 300 series stainless steel by USD30/mt, then kept prices stable through out the week. Policy-driven supply concerns from Indonesia and IWIP NPI cuts pushed LME nickel above USD 18,800/mt. The market focus shifted from price weakness to cost support, while demand remained resistant to high prices.

[SMM Analysis] Raw Material Prices See Slight Correction, Stainless Steel Mill Profits Expand This week, both stainless steel production costs and prices pulled back slightly, and steel mill profits expanded accordingly. Using 304 cold-rolled as the calculation benchmark, the current raw material-based profit margin was 2.19%, while the low-level inventory raw material-based profit margin reached 3.67%. Overall industry profitability was moderate, and steel mills therefore maintained high production schedules. On the nickel-based raw material cost side, high-grade NPI prices first declined then rose this week, showing an overall slight pullback. During the week, news emerged that Indonesia planned to unify ferroalloy exports under state-owned enterprise operations. Although stainless steel scrap still held a notable cost-effectiveness advantage and steel mills had a strong desire to bargain down prices, supply uncertainty fueled a strong market sentiment to hold prices firm and hold back from selling, and prices ultimately stopped falling and stabilized. As of this Friday, mainstream high-grade NPI with a grade of 10-12% fell 4.5 yuan per nickel unit, closing at 1,140.5 yuan/nickel unit. Stainless steel scrap market, prices pulled back this week. The decline was driven by the combined impact of multiple bearish factors, including weak spot cargo performance in finished products, steel mills pushing for lower raw material prices, and downward adjustments in molten steel quotes. However, the decline was limited for the following reasons: the tight tax invoice situation was expected to ease, trading pain points were being gradually resolved, and steel mill purchase expectations rose accordingly. In addition, steel scrap held a greater cost-effectiveness advantage over NPI, and coupled with steel mills still being profitable and rigid demand remaining robust, prices were effectively supported. The overall pattern showed "weakening spot cargo, cost support, and recovering expectations," and short-term prices were expected to fluctuate in tandem with finished products, with limited downside room. As of this Friday, mainstream 30 in the Shanghai area...

On May 12, the 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum , organized by Shanghai Metals Market (SMM), drew to a successful close at the Sheraton Grande Tokyo Bay Hotel in Tokyo, Japan! Following the event, SMM arranged an overseas field trip for delegates. The delegation paid visits to renowned local recycling enterprises in Japan to learn about operational practices and technological advancements in Japan's recycled non-ferrous metal sector. On the afternoon of May 15, the delegation visited KINKI SANGYO CO.,LTD. and received a warm welcome from the firm’s management. Company Profile KINKI SANGYO CO.,LTD. has grown steadily since its founding with the support of numerous partners, always adhering to the core objectives of responding to the needs of the times and driving industrial development. As its business scale has expanded, the company has gradually established a solid industrial foundation in the field of metal resource recycling and built a stable supply system covering both China and ex-China markets. Headquartered in Izumi-Otsu City, Osaka Prefecture, with a sales office in Izumi City, the company maintains high-standard professional operations throughout the entire process—from the procurement and processing of metal scrap to sales and export—and is committed to contributing to industrial development in Japan and the broader Asian region. The company is well aware that sustained corporate growth depends on trustworthy quality and efficient management. To this end, the company has fully implemented and obtained ISO 9001 certification, the quality management system established by the International Organization for Standardization (ISO). Through this system, the company has established rigorous operational procedures and quality control mechanisms, ensuring that product quality remains consistently stable and reliable, and guaranteeing the continuous supply of high-grade metal raw materials that meet the requirements of steelmaking enterprises and other partners. The spirit of continuous improvement advocated by ISO 9001 has also become part of the company culture, with all employees constantly pursuing greater efficiency and superior quality in their daily work, with enhancing client satisfaction as their shared goal. In terms of business philosophy, the company adheres to a "people-oriented" approach, believing that talent is the most fundamental resource of an enterprise. The company encourages employees to continuously enhance their capabilities, closely integrating personal growth, corporate interests, and social value, earning the trust of partners through honest management and steady development. The company actively promotes open cooperation, establishing long-term and stable business relationships with various industries in and outside China, while continuously exploring new market opportunities to build a broader and more solid international network for the future. Looking ahead, KINKI SANGYO CO.,LTD. will continue to leverage its professional expertise, international vision, and rigorous quality management system to continuously strengthen its comprehensive competitiveness, contributing to socioeconomic development, resource recycling, and broader international cooperation. This visit was an important practice of SMM in building an international recycled metals industry exchange platform, creating a bridge for direct dialogue and experience sharing between Chinese and Japanese enterprises. Through on-site observation and face-to-face exchanges, attendees gained in-depth understanding of KINKI SANGYO CO.,LTD.'s technological advantages, operational management experience, and market positioning strategies in the recycled metals sector. They gained particularly valuable insights in areas such as refined processing of scrap metals and collaborative operations across the entire industry chain, providing valuable references for Chinese enterprises to optimize production models and enhance technological capabilities.

On May 12, the 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum , organized by Shanghai Metals Market (SMM), drew to a successful close at the Sheraton Grande Tokyo Bay Hotel in Tokyo, Japan! Following the event, SMM arranged an overseas field trip for delegates. The delegation paid visits to renowned local recycling enterprises in Japan to learn about operational practices and technological advancements in Japan's recycled non-ferrous metal sector. On the morning of May 15, the delegation visited Toyo Trading Co., Ltd. and received a warm welcome from the firm’s management. Company Profile Toyo Trading , officially established in 2009, has consistently upheld "resource recycling to promote sustainable development" as its core mission. Steadily cultivating its presence in Japan's metal recycling and trading sector over sixteen years, the Group has built a large-scale operation covering the entire industry chain. Today, it has developed an integrated full-chain service capability encompassing "collection — processing — sales — export," with its business footprint spanning all of Japan. The Group now owns over 20 specialized subsidiaries, each focusing on specific segments such as copper scrap and aluminum scrap recycling, refining, processing, and international trade. Meanwhile, the Group has assembled 300 professionals with extensive industry experience, ensuring efficient operations and consistent service quality across all aspects from supply chain management to international trade negotiations. Annual output includes copper (25,000 mt), aluminum (25,000 mt), iron (100,000 mt), and others (250,000 mt). Annual sales revenue reached 70 billion yen, making it one of the largest and most reputable enterprise groups in Japan's metal recycling industry. Toyo Trading has established a quality management system in strict accordance with international standards and has successfully obtained ISO9001 international quality management system certification. This signifies that the Group has reached internationally advanced levels in quality management, process control, and client service, providing clients with solid quality assurance. Looking ahead, Toyo Trading will continue to build on its core business of metal recycling and trading, further deepening its industry chain layout: on one hand, continuously optimizing its service network and processing technologies to enhance resource recovery efficiency and raw material quality; on the other hand, actively exploring green and low-carbon development pathways to drive the industry's transformation toward a greener, more efficient, and sustainable direction, enabling the infinite circulation of finite resources. Toyo Group will continue to uphold the philosophy of integrity-based management, deepen collaboration with clients and partners, and sincerely welcome business partners from around the world to discuss cooperation, pursue mutual development, achieve win-win collaboration, protect the planet, and co-create a sustainable future. This visit was an important practice of SMM's efforts to build an international recycled metals industry exchange platform, serving as a bridge for direct dialogue and experience sharing between Chinese and Japanese enterprises. Through on-site observation and face-to-face exchanges, attendees gained in-depth understanding of Toyo Trading's technological advantages, operational management experience, and market layout strategies in the recycled metals sector. They particularly benefited from insights into refined processing of scrap metals and collaborative operations across the entire industry chain, providing valuable references for Chinese enterprises to optimize production models and enhance technological capabilities.

On May 12, the 2026 SMM (3rd) Global Renewable Metal Industry Chain Summit & Battery Recycling Forum , organized by Shanghai Metals Market (SMM), drew to a successful close at the Sheraton Grande Tokyo Bay Hotel in Tokyo, Japan! Following the event, SMM arranged an overseas field trip for delegates. The delegation paid visits to renowned local recycling enterprises in Japan to learn about operational practices and technological advancements in Japan's recycled non-ferrous metal sector. On the afternoon of May 14, the delegation visited Uchida Corporation and received a warm welcome from the firm’s management. Company Profile Uchida Corporation was established in 2013 and is headquartered in Itami City. The company specializes in the recycling and processing of non-ferrous metals and special metals such as copper, aluminum, and stainless steel. It owns two recycling plants and one copper wire nodules processing plant, with a monthly processing capacity exceeding 1 kt. The company upholds the development philosophy of efficiency and environmental protection, deeply cultivating the field of secondary resource recycling and utilization, and is committed to creating long-term sustainable value for its clients. The enterprise adheres to the principle of "an honest work attitude and a spirit of continuous challenge," linking resources to industry and connecting the future with expertise. It continues to set new benchmarks for industry development, aspiring to build a high-quality enterprise that dares to take on challenges, grows steadily, and develops for the long term. This visit was an important practice of SMM's efforts to build an international exchange platform for the secondary metals industry, creating a bridge for direct dialogue and experience sharing between Chinese and Japanese enterprises. Through on-site observation and face-to-face exchanges, the attendees gained in-depth understanding of Uchida Corporation's technological advantages, operational management experience, and market positioning strategies in the secondary metals sector. They gained particularly valuable insights in areas such as refined processing of scrap metals and collaborative operations across the entire industry chain, providing valuable references for enterprises in China to optimize production models and enhance technological capabilities.