【Ministry of Commerce: Localities are Accelerating the Formulation of Pilot Work Plans for the Reform of Automobile Circulation and Consumption】 On March 25, Li Gang, Director of the Department of Consumption Promotion of the Ministry of Commerce, said that currently, the Ministry is guiding local commerce departments to work with relevant departments to carry out the application work for pilot programs on the reform of automobile circulation and consumption in an orderly manner and to accelerate the formulation of pilot work plans. Subsequently, the pilot city list will be determined based on the principle of "launching one batch as soon as it is ready." To implement the deployment of the Central Economic Work Conference, to further expand the implementation of the "trade-in" program for consumer goods, and to further unleash the potential of automobile consumption, in accordance with the requirements of the "Notice on Issuing the Action Plan for Promoting the Trade-in of Consumer Goods" (No. 58 [2024] of the Ministry of Commerce), from 2025 to 2027, pilot work on the reform of automobile circulation and consumption will be carried out. The main tasks include: 1.Stabilizing and expanding automobile consumption. 2.Promoting the efficient circulation of second-hand cars. 3.Creating an atmosphere for automobile culture. 4.Improving the recycling and utilization system for scrap automobiles. 5.Enhancing the digital level of automobile circulation and consumption.

Novelis, a global leader in rolled aluminum products and the largest aluminum recycler, recently announced the successful development of the world's first aluminum sheet made entirely from 100% recycled scrap automotive materials. This innovative product, designed specifically for the European automotive market, represents a significant advancement in the automotive industry's pursuit of greater circularity and sustainability. The material is suitable for auto body outer panel applications, meeting the highest standards for surface quality and formability. It demonstrates Novelis' unwavering commitment to driving sustainability in the aluminum industry while ensuring exceptional quality, strength, and performance. This achievement stems from the company's close collaboration with industry partners and automotive manufacturers, marking a continuous increase in the recycled aluminum content of its products.

[World Platinum Investment Council: Platinum Market Expected to Face Third Consecutive Shortage in 2025, Currently Estimated at 26 mt] The World Platinum Investment Council (WPIC) released the Q4 2024 and full-year "Platinum Quarterly" on March 5 and revised its forecast for 2025. The market is expected to face a third consecutive shortage in 2025, with the deficit deepening, currently estimated at 26 mt. Demand in 2025 is expected to decrease by 5% to 244 mt, though it will remain well above the five-year average since 2020, while total supply is expected to decline YoY by 4% to 218 mt.