The fundamental challenge in the 304 stainless steel industrial chain is Instrument Asymmetry, a scenario where the dominant cost driver, Nickel Pig Iron (NPI), lacks a direct futures contract and forces participants to manage 75% of their risk using standardized proxies like pure nickel. This creates a lethal threat not from price volatility itself, but from the Basis Risk that occurs when physical assets and hedging tools decouple.

On April 16, the 2025 (10th) New Energy Industry Expo, hosted by SMM Information & Technology Co., Ltd., was grandly held at Halls F3-G3 of the Suzhou International Expo Center in Jiangsu, April 16-18. The conference officially opened on April 16, with multiple academicians, top-tier entrepreneurs, and industry professionals engaging in lively discussions on topics such as a decade of review and outlook on the new energy industry, Europe's perspectives and challenges on sustainable, circular, and safe batteries, how to build a globally collaborative battery value chain, China's new energy mineral demand and outlook, mineral resource reserve management and risk prevention, the distribution patterns, metallogenic characteristics, and exploration directions of nickel ore resources in western China, interpretation of the new mineral resources law, and global cobalt market dynamics. On April 18, three forums—the Overseas Market Forum, the Low-Altitude Economy Forum, and the Suzhou Virtual Power Plant Ecosystem Forum (3rd)—will be held simultaneously. This article provides a live text broadcast of these three forums. SMM will provide full coverage of the conference through text, images, and video live broadcasts. Please refresh to view! Click to view the live photo broadcast. Click to view the special report on this summit. Overseas Market Forum. Topic: EU Lithium-Ion Battery Recycling. Guest Speaker: Andrea Mirandola, Global Business Director, Duesenfeld GmbH. 09:00-09:30. Topic: Scaling Up Solid-State Battery Manufacturing: Challenges and Innovations. Guest Speaker: Richard Bouveret, CEO, Blue Solutions. 09:30-10:00. Topic: Catalonia: A Dynamic, Industrialized, Open, and Innovative Economy. Guest Speaker: Shumin Zhang, Senior Trade and Investment Officer, Catalonia Trade & Investment Shanghai Office. 10:00-10:30. Topic: Investment Opportunities in Thailand. Guest Speaker: Baofen Zhong, Director and Consul, Thailand Board of Investment Shanghai Office. 10:30-10:55. Topic: Assisting Chinese Enterprises in Overseas Factory Construction. Guest Speaker: Fei Ye, Vice President, Open Hungary. 10:55-11:20. Topic: How to Enter Europe: Opportunities and Strategic Policy Guidance for Chinese Battery Enterprises. Guest Speaker: Dennis Roman Gallus, Principal Consultant, Roland Berger. 11:20-11:40. Roundtable Discussion: Exploring the Transformation of the Global Battery Market. Moderator: Rui Ma, Head of New Energy Research, SMM. Guest Speakers: Dr. Olayinka Fayomi, Chairman, FIN Overseas Investment Alliance; Mattias Debroyer, Economic and Commercial Consul, Brussels Capital Region Representative, Belgium Investment Promotion Agency; Fergal Harrington, Business Development Director, Beatty E-magy; Tom Fairlie, Senior Sustainability Manager, International Cobalt Association. 11:40-12:30. Low-Altitude Economy Forum. Topic: Current Status and Trends in the Low-Altitude Economy Industry. Guest Speaker: Ying Zhou, Deputy Secretary General, Shanghai General Aviation Association. 09:00-09:30. Topic: New Battery Scenarios: The Green Heart Driving eVTOL to Soar. Guest Speaker: Dr. Weiran Jiang, R&D Vice President and Dean of the R&D Institute, Farasis Energy (Ganzhou) Co., Ltd. 09:30-10:00. Topic: "Low-Altitude + N" Illuminates the Future: A Trillion-Dollar Track Leading Industrial Leap. Guest Speaker: Yuehua Meng, Vice President, United Aircraft Group. 10:00-10:30. Topic: Investment Opportunities in the Low-Altitude Economy and Analysis of Rotor/Propeller Technology Challenges. Guest Speaker: Changwei Yang, Chief Expert, Minth Group. 10:30-11:00. Topic: Solutions for Urban Low-Altitude Economic Development. Guest Speaker: Congxi Chen, Director of the Low-Altitude Economy Committee, Aircraft Owners and Pilots Association of China, Researcher. 11:00-11:30. Suzhou Virtual Power Plant Ecosystem Forum (3rd). Leadership Messages and Speeches. Suzhou Development and Reform Commission. State Grid (Suzhou) Urban Energy Research Institute. Yanting Yi, Vice President, SMM. 09:00-09:30. Topic: Global Outlook and Experience Analysis of Virtual Power Plants. Guest Speaker: Zhanghua Zheng, Senior Researcher, Global Energy Interconnection Development and Cooperation Organization. 09:30-09:40. Topic: Sharing Typical International Virtual Power Plant Market Mechanisms. Guest Speaker: Wenjuan Niu, Senior Engineer, State Grid Jiangsu Economic Research Institute. 09:40-10:00. Topic: Analysis of Domestic and Overseas Virtual Power Plant Practices and Suggestions for High-Quality Development. Guest Speaker: Yuchen Cao, Researcher, Energy Internet Research Institute, State Grid Energy Research Institute. 10:00-10:20. Topic: "Analysis of Key Issues in the High-Quality Development of Virtual Power Plants in China." Guest Speaker: Xiaodong Zhao, Senior Engineer, Energy Research Institute, China Macroeconomic Research Institute. 10:20-10:40. Topic: Thoughts on the Development Models and Technical Forms of Virtual Power Plants. Guest Speaker: Shuyang Wang, Virtual Power Plant Business Director, Energy Use Research Institute, China Electric Power Research Institute. 10:40-11:00. Topic: Sharing the Construction Ideas of Typical Domestic Virtual Power Plant Projects. Guest Speaker: Tao Zheng, Deputy Chief Engineer, R&D Center, NARI Technology Co., Ltd. 11:00-11:20. Topic: "What Kind of Power Market is Needed for Virtual Power Plants + Microgrids + V2G?" Guest Speaker: Yu Liao, Founder, German Chinese New Energy Association. 11:20-11:40. Establishment Ceremony of the Jiangsu Provincial Society of Electrical Engineering Power Market Committee. 11:40-12:00. Topic: Practice of Provincial Virtual Power Plant Dispatch and Control System Construction. Guest Speaker: Wenfei Yi, Director, Automation Office, Relay Protection Automation Center, State Grid Jiangsu Electric Power Research Institute. 13:30-13:50. Topic: Synergistic Carbon Reduction Between Industrial Virtual Power Plants and New Power Systems. Guest Speaker: Siyang Liao, Associate Professor, School of Electrical and Automation Engineering, Wuhan University. 13:50-14:10. Topic: Suzhou's "15th Five-Year Plan" Virtual Power Plant Development Path Planning and Suggestions. Guest Speaker: Dr. Guang Chen, Deputy Director, Energy Strategy and Planning Research Institute, State Grid (Suzhou) Urban Energy Research Institute. 14:10-14:30. Topic: Empowering Energy Assets with Virtual Power Plants: Practical Experience. Guest Speaker: Yanan Qian, Deputy General Manager, GCL Sheneng Integrated Energy Service Co., Ltd. 14:30-14:50. Topic: Suzhou Virtual Power Plant Practice Cases and Future Outlook. Guest Speaker: Qiang Zhang, Deputy General Manager, Jiangsu Huagong New Energy Technology Co., Ltd. 14:50-15:10. Topic: Evolving Energy: Virtual Power Plant Technology Paths and Outlook. Guest Speaker: Wenqi Dong, Virtual Power Plant Project Expert, GoodWe Technologies Co., Ltd. 15:10-15:30. Topic: Thoughts on Virtual Power Plant Applications Under New Policies for New Energy's Full Entry into the Power Market. Guest Speaker: Haiming Fu, Deputy General Manager and Head of Smart Energy Division, Shanghai Caishen Energy Technology Co., Ltd. 15:30-15:50. Topic: Practice of Large-Scale Vehicle-to-Grid Interactive Virtual Power Plants Based on Intelligent Decision-Making. Guest Speaker: Chen Xiang, Power Trading Director, Shanghai NIO Co., Ltd. 15:50-16:10. Click to view the special report on the 2025 (10th) New Energy Industry Expo.

The steel industry is a pillar of the national economy and a main battlefield for the "dual carbon" strategy. During the 2025 Two Sessions, the high-quality development of the steel industry became a hot topic among representatives and committee members. Over 20 representatives and committee members from the steel industry submitted more than 40 targeted proposals, covering areas such as low-carbon technology breakthroughs, capacity management, fiscal and tax optimization, intelligent manufacturing, and international cooperation. These proposals reflect deep thinking on the future high-quality development of the steel industry. 1. Green and Low-Carbon Transformation: From Technological Breakthroughs to Full-Chain Collaboration Low-carbon technology R&D and platform construction. Several representatives and committee members emphasized that the "carbon neutrality" of the steel industry needs to rely on national-level innovation platforms. Committee member Hu Wangming proposed the establishment of a "National Green and Low-Carbon Innovation Platform for the Steel Industry" to promote the sharing of key technologies such as hydrogen metallurgy and hydrogen-rich injection, as well as research on systematic solutions. Representative Zhao Minge suggested the establishment of a "National Low-Carbon Technology Innovation Center for the Steel Industry," supported by special funds for industry-wide technological breakthroughs. Representative Dong Caiping proposed a collaborative mechanism of "government guidance + enterprise leadership + academic support + financial assistance," with the establishment of a special fund to support low-carbon technology R&D. Energy structure optimization and energy storage technology application. Representative Liu Huaiping suggested the development of diversified energy storage technologies (such as compressed air energy storage and flow batteries), deeply integrating energy storage systems into the comprehensive energy networks of steel enterprises, and linking them with scenarios such as PV and waste heat recovery to improve the absorption rate and economic efficiency of green electricity. Committee member Qian Gang emphasized the integration of new energy and steel production through "specialized, refined, and innovative" enterprises, such as the green manufacturing of special steel for aviation. Standard system and carbon market linkage. Representative Hu Shue proposed the construction of a three-dimensional framework of "policy incentives + standard constraints + market guidance" to promote the carbon footprint certification of steel products and their alignment with international standards. Representative Meng Fanying called for improving the management of pilot projects (pilot projects refer to the intermediate testing phase from laboratory R&D to industrialization) and accelerating the application of rare earth materials in low-carbon technologies. In addition, several representatives suggested including the steel industry in the carbon market trading system, using carbon pricing mechanisms to force emission reductions. The above proposals reflect a shift from single technological breakthroughs to low-carbon collaboration across the entire industry chain. However, issues such as long R&D cycles (e.g., hydrogen metallurgy requires over 10 years), high costs of green electricity (currently accounting for less than 5% of steel production), and inconsistent carbon accounting standards still require long-term coordination between policy and market. 2. Technological Innovation and Industrial Upgrading: The Path to Cultivating New Quality Productive Forces Construction of original technology sources. Representative Zhao Minge proposed improving the supporting mechanisms for original technology sources, including diversified funding (e.g., government-guided funds, joint corporate investments), optimized resource allocation (e.g., targeted opening of national key laboratories), and deepened industry-academia collaboration (e.g., university-enterprise joint laboratories). Representative Wu Hanqi called for building a domestic industrial operating system ecosystem, promoting its application in metallurgy, mining, and other scenarios to reduce dependence on foreign technologies. Intelligent manufacturing and digital transformation. Representative Wen Fei suggested the introduction of robotics, big data, and IoT technologies to achieve production automation and smart logistics. Representative Zhang Ronghua proposed the construction of "lighthouse factories," optimizing steel enterprise production processes through AI models and developing intelligent sorting systems to improve solid waste recycling efficiency. High-end materials and export competitiveness. Representative Zhu Xiaokun suggested refining the export tax rebate policy for high-end special steels (e.g., mold steel, high-speed tool steel) to consolidate international market share. Representative Li Jianyu proposed strengthening the global industry chain layout, enhancing the proportion of high-end products through "bringing in" (technical cooperation) and "going out" (establishing overseas bases). The core of new quality productive forces lies in the deep integration of technological innovation and industrial upgrading. For example, the development of domestic industrial operating systems (with a localization rate of less than 10% in 2024) could reduce production costs by about 20%-30%, and the implementation of export tax rebate policies for high-end special steels is expected to boost annual export growth by 15%. 3. Industry Governance and Global Layout: The Path to Structural Reform Capacity management and mergers and acquisitions. Representative Tan Chengxu suggested establishing a new capacity management mechanism, supporting mergers and acquisitions through policies, and phasing out outdated capacity. Representative Wang Shuhua proposed implementing tax incentives such as accelerated depreciation and R&D deductions for environmentally compliant enterprises (creating A-level standards), forming a mechanism of "supporting the superior and eliminating the inferior." It is estimated that if 50 million mt of inefficient capacity is phased out by 2025, industry concentration (CR10) could increase from 42% to 50%. Fiscal and tax optimization and business environment improvement. Representatives from multiple provinces suggested simplifying mining rights approvals and unifying local tax standards. Committee member Zhao Jianze called for strengthening the protection of coking coal resources (an important raw material for the steel industry) and improving industry concentration through fiscal and tax leverage. Representative Zhao Minge further proposed optimizing the export tax rebate policy for steel to support high-end products in international competition. Globalization and resource security. Representative Li Jianyu suggested expanding the "Belt and Road" market and leveraging the Hunan International Trade platform to expand overseas business. Representative Sheng Genghong proposed integrating iron ore resources, supporting large enterprises in developing overseas mines through agreement transfers, and reducing the dependence on imported iron ore (currently over 80%). The current steel industry faces a typical imbalance of "insufficient high-end and surplus low-end." The proposals from representatives and committee members indicate that the future development of the steel industry may focus on "two-pronged efforts": internally optimizing the capacity structure through market-oriented means, and externally reshaping the global industry chain position through technological advantages (e.g., innovation centers) and standard outputs (e.g., carbon footprint certification). 4. Conclusion: Strategic Choices for China's Steel Industry Toward High-Quality Development The proposals from the representatives and committee members reveal three main transformation lines for the steel industry: greening, intelligentization, and globalization. Greening is not only a technical issue but also an institutional innovation (e.g., carbon market linkage); intelligentization requires breaking the traditional mindset of "emphasizing hardware over software" and focusing on scenario-based AI and domestic system ecosystems; globalization requires shifting from resource dependence to technological standard outputs. At a deeper level, these proposals reflect the logic of China's steel industry transitioning from scale expansion to quality revolution. On one hand, policies need to strengthen top-level design (e.g., new capacity management mechanisms), and on the other hand, enterprises need to actively embrace change (e.g., "lighthouse factory" construction). In the next decade, top-tier enterprises with technological, financial, and green advantages will accelerate market integration, while small and medium-sized steel mills will face transformation or exit pressures. In summary, the high-quality development of the steel industry is not only an industrial issue but also a reflection of national strategic capabilities. Only through innovation-driven and structural reforms can "carbon constraints" be transformed into "new momentum," securing a commanding position in the global industrial revolution.

NIO Vice President Shen Fei: The battery swapping station in Denmark has started to provide frequency regulation services to the grid. NIO Vice President Shen Fei stated in a Weibo post that the battery swapping station in Denmark has successfully begun to provide frequency regulation services to the grid. This is a small step for NIO Energy in Europe, and a big step for the entire battery swapping business model, signaling the participation of battery swapping stations as energy storage devices in grid frequency regulation services. Shen Fei expressed the hope that China's battery swapping stations can also enter the field of grid integration and interaction on a large scale in the form of aggregated virtual power plants for peak shaving and frequency regulation.