Recently, Hunan Angzhu Environmental Protection Technology Co., Ltd. signed an APP advertising cooperation agreement with SMM (Shanghai Metals Market). This partnership aims to expand pragmatic cooperation and promote industry exchange, thereby achieving deepened collaboration, market expansion, and mutual benefit. Going forward, SMM will leverage its advantages as a leading non-ferrous metals industry service platform to provide Hunan Angzhu Environmental Protection Technology Co., Ltd. with a one-stop online marketing solution through comprehensive online display, forming a virtuous cycle between production and market, and realizing mutual value for both parties. Hunan Angzhu Environmental Protection Technology Co., Ltd. was established in 2018 and is located at No. 1 Xincheng Road, Leiyang City, Hengyang City, Hunan Province. It is a comprehensive enterprise specializing in non-ferrous metal deep processing and trade sales. Hunan Angzhu Environmental Technology Co., Ltd. was established in 2018 and is located at No. 1 Xincheng Road, Leiyang City, Hengyang City,Hunan Province. it is a comprehensive enterprise specializing in non-ferrous metal deep processing and trade sales. With pyrometallurgy #1 lead as its core product, the company has an annual capacity of 200,000 mt (based on pyrometallurgy #2 refined lead). It also engages in primary lead, lead-calcium alloy, lead-antimony alloy, secondary lead, and secondary refined lead businesses, building an entire industry chain service system from raw material procurement to finished product sales. Taking Pyrometallurgical Grade 1 Lead as its core product, the company has an annual production capacity of 200,000 tons (calculated by Pyrometallurgical Grade 2 Lead). It also engages in businesses such as electrolytic lead, lead-calcium alloy, lead-antimony alloy, recycled lead and recycled refined lead, and has built a full-industry-chain service system from raw material procurement to finished product sales. Core Strengths 1 Environmental Protection First Actively responding to the national call for green development, the company has invested in the construction of integrated environmental protection production facilities to achieve the recycling of wastewater, waste gas, and waste residue, creating a modern factory with "zero pollution and low energy consumption" and being awarded as a provincial-level green production demonstration unit. Actively responding to the national call for green development, the company has invested in the construction of integrated environmental protection production facilities to realize the recycling of wastewater,waste gas and waste residue, creating a modern factory with "zero pollution and low energy consumption" and being awarded as a provincial-level green production demonstration unit. 2 Technology-Driven The core management team has 20 years of industry experience, has established a three-level quality inspection system, and has obtained ISO9001 quality management system certification, with product purity reaching over 99.996%. Through intelligent equipment upgrades, production efficiency has increased by 40%, saving over 20 million yuan in annual production costs. The core management team has 20 years of industry experience, has established a three-level quality inspection system and has obtained ISO9001 quality management system certification, with product purity reaching over 99.996%. Through the intelligent transformation of equipment, production efficiency has increased by 40%, saving more than 20 million yuan in annual production costs. 3 Social Responsibility The company has cumulatively created over 200 jobs and was awarded the title of "Outstanding Enterprise in Employment Contribution of Hengyang City." It has established industry-university-research cooperation with Central South University and trained over 50 professional and technical talents. It has created more than 200 jobs cumulatively and was awarded the title of "Outstanding Enterprise in Employment Contribution of Hengyang City".It has established industry-university-research cooperation with Central South University and trained more than 50 professional and technical talents. Business System • Raw Material Procurement: Crude lead, secondary crude lead • Main Products: Pyrometallurgy #1 lead (national standard GB/T 469-2023), primary lead, alloy lead • Trade Services: Providing value-added services such as warehousing and logistics, futures hedging, and supply chain finance Development Vision Adhering to the business philosophy of "Quality Builds Brand, Innovation Leads the Future," the company plans to establish a provincial-level technology center by 2026 and strives to become a benchmark enterprise in non-ferrous metal deep processing in Central China. We sincerely invite colleagues from all walks of life to visit and guide us for common development! Adhering to the business philosophy of "Quality Builds Brand, Innovation Leads the Future", the company plans to establish a provincial-level technology center by 2026 and strive to become a benchmark enterprise in non-ferrous metal deep processing in Central China. We sincerely invite colleagues from all walks of life to visit and guide us for common development! Contact Information Lin Yuancai 139757991777/18768272777 SMM Contact Cao Juanjuan caojuanjuan@ly10000.com 19521491689

Against the backdrop of the global energy transition and the accelerating development of the digital economy, silver—a strategic metal with both industrial and financial attributes—is undergoing profound transformation across its industry chain. On one hand, demand for silver from emerging sectors such as PV, NEVs, and 5G communications continues to climb, driving the industry toward higher value-added and greener development. On the other hand, resource constraints, technological barriers, and market fluctuations impose higher demands on industry chain resilience, urgently requiring innovation-driven coordinated development across the entire chain. Dual Drivers of Policy and Market Under China's "dual carbon" goals and the global ESG investment wave, the silver industry faces pressing needs for green production, recycling, and low-carbon technologies. The NDRC's "14th Five-Year Plan for Circular Economy Development" explicitly calls for strengthening the recycling of precious metal resources, while international silver price fluctuations and geopolitical risks are compelling enterprises to enhance supply chain autonomy and controllability. Against this backdrop, the Silver Industry Chain Innovation Conference has emerged, aiming to build a collaborative platform integrating government, industry, academia, research, and end-use applications, to address industry pain points, and to lead the industry toward high-end, intelligent, and internationalized development. Innovation Needs and Industry Pain Points Technological Breakthroughs: Silver purification processes, nano-silver material applications, and scrap recycling technologies urgently need breakthroughs to meet the demand for high-purity, low-cost silver in emerging fields such as PV silver paste and flexible electronics. Industry Chain Coordination: Information barriers exist across mining, smelting and processing, and end-use application segments, requiring digital tools to achieve optimized resource allocation and risk sharing. Green Transformation: Traditional smelting processes are energy-intensive and highly polluting, necessitating the promotion of clean production technologies and circular economy models in response to global carbon neutrality commitments. Market Expansion: Silver's application potential in frontier fields such as hydrogen energy and quantum computing has yet to be fully explored, requiring strengthened cross-industry collaboration and standards development. Conference Objectives and Value Themed "Silver Chain Innovation · Intelligent Creation for the Future," this conference brings together global silver industry chain leaders, research institutions, financial institutions, and policymakers for in-depth dialogue on three core topics: technological R&D, supply chain optimization, and market expansion. Through the release of an industry white paper, the establishment of an innovation alliance, and the signing of major projects, the conference aims to drive the silver industry's transformation from "resource dependence" to "technology leadership," providing critical material support for the global energy revolution and digital economy. Quanda New Materials (Ningbo) Co., Ltd. / Ningbo Haoshun Precious Metals Co., Ltd. will attend this grand event to discuss industry development trends with industry peers and jointly propel the silver industry to new heights. Click to register now. Join us in witnessing and participating in this extraordinary and far-reaching industry event, and together create a brilliant new chapter! Quanda New Materials (Ningbo) Co., Ltd. was founded in December 2023 by Mr. Chen Yongda, who has over twenty years of experience in the silver industry, building upon his existing silver distribution business to align with the major trend of silver consumption upgrading in the new era. With a registered capital of 15 million yuan, the company is located in the scenic Xiangshan Chemical Economic and Technological Development Zone in Ningbo. It is a fully automated factory enterprise specializing in the production of silver nitrate using silver as the primary raw material, with a designed capacity of 5,000 mt/year, and is a key supported enterprise of the Xiangshan Chemical Economic and Technological Development Zone in Ningbo. The company boasts strong technical capabilities and an experienced professional team, with advanced production processes and equipment. Relying on five management systems, it maintains strict quality detection procedures and has established an internal R&D center staffed with dozens of mid-to-senior-level professional and technical personnel. The company's product quality is consistently among the leading levels in the domestic peer industry, with products widely applied in military enterprises, the electronics industry, the PV industry, aerospace, and other fields. We are committed to providing clients with more value-added services through quality products, efficient services, and reasonable prices. Contact Information Ms. Shi 13566055239 Address: No. 52 Wentao Road, (Baiyanshan) Park, Xiangshan County, Ningbo City, Zhejiang Province Ningbo Haoshun Precious Metals Co., Ltd. is an innovative modern commercial distribution enterprise primarily engaged in the supply of precious metal silver raw materials in China and customized silver crafts services. It is a standing council member of the China General Chamber of Commerce and a vice president unit of the Gold and Silver Branch of the China Nonferrous Metals Industry Association (CNIA). Since its establishment and operation, the company has consistently adhered to the business philosophy of "being down-to-earth, operating with integrity, and achieving mutual benefit." It upholds the business cooperation principle of "creating value together, sharing results together, and winning the future together." After years of development and growth, the company has established long-term and stable cooperative relationships with multiple well-known silver mine enterprises in China. Its supply and sales channels have become stable, and it has selected a group of strategic partners with strength, credibility, quality, and service orientation. It has cultivated a dedicated, responsible, pragmatic, and efficient business team, providing a strong guarantee for the company's steady and high-quality development. Its industry reputation, market influence, and corporate soft power are all gradually strengthening. Its spot silver trading volume has been at the industry-leading level for consecutive years. A modern commercial distribution enterprise with a maturing management mechanism is emerging. Looking ahead, Ningbo Haoshun Precious Metals Co., Ltd. is expected to align with the major trend of silver consumption upgrading in the new era, proactively innovate and adapt, employ flexible and elastic trading models, adopt a strict risk control system, and leverage timely and efficient services. The company will strive to anticipate clients' needs and fulfill their requirements, endeavoring to provide clients with diversified and more value-added services. As the ancients said, " When one calls with the wind at his back, his voice is no louder, yet it is heard more clearly. Ningbo Haoshun Precious Metals Co., Ltd. will stay true to its original mission of serving the National Silver Enterprise Annual Conference. On the road ahead, it will willingly serve as a practitioner of honest and trustworthy trading in the silver industry market, a driver of integrated coexistence and win-win cooperation among enterprises, and a contributor to the steady, prosperous, and sustainable development of the industry. Contact Information Mr. Yao 13817213537 Tel: 0574-88053076 Fax: 0574-88053796 Address: Room 151, Building 22, No. 818 Qiming Road, Yinzhou District, Ningbo, Zhejiang Province Press and hold to scan the QR code to register now 2026 SMM (7th) Silver Industry Chain Innovation Conference

This week, ferrous metals continued to pull back, with coking coal and coke seeing the most notable correction. In the first half of the week, the Ministry of Industry and Information Technology issued a notice on the implementation measures for capacity replacement in the steel industry, proposing that the capacity replacement ratio for ironmaking and steelmaking should be no less than 1.5:1. The further tightening of capacity replacement requirements had a longer-term impact. Meanwhile, macro markets outside China experienced significant fluctuations, and market expectations for ex-China "interest rate hikes" strengthened. In the second half of the week, data on the five major steel products were released, showing production increased somewhat while inventory continued to decline. Spot market side, traders began to show some flexibility on prices, the spot-futures price spread for hot-rolled coil continued to narrow, some spot-futures arbitrage traders mainly cut losses with shipments, and end-users continued to restock on an as-needed basis...

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 22 May , 2026

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.

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 14, the delegation visited Kankyu Boeki Co., Ltd. and received a warm welcome from the firm’s management. Company Profile Kankyu Boeki Co., Ltd. is a comprehensive resource recycling group whose core business encompasses the dismantling, shredding, and smelting/refining of secondary non-ferrous metal resources, with integrated services in trading, customs clearance, and logistics. The group has long been deeply engaged in the field of industrial and electronic metals recycling, establishing an integrated industry chain system spanning collection, dismantling and processing, smelting, and product output, providing clients with stable, efficient, and compliant secondary metals solutions. The group's main businesses include dismantling and fine processing of secondary non-ferrous metal resources, copper smelting and blister copper ingot production, shredding, dismantling, and smelting of electronic metal materials, and large-scale processing of industrial miscellaneous items, motors, wires, and mechanical metals. The group has annual processing capacities of industrial miscellaneous items (150,000 mt), motors (50,000 mt), air conditioning radiators (30,000 mt), wires (30,000 mt), aluminum and mixed aluminum (50,000 mt), shredded copper and copper wire nodules (50,000 mt), blister copper ingots (100,000 mt), shredded iron (30,000 mt), and H2 iron (80,000 mt). This visit was an important initiative by SMM to build an international exchange platform for the recycled metals industry, serving as a bridge for direct dialogue and experience sharing between Chinese and Japanese enterprises. Through on-site observation and face-to-face communication, the attendees gained in-depth insights into Kankyu Boeki Co., Ltd.'s technological advantages, operational management experience, and market positioning strategies in the recycled metals sector. The visit was particularly fruitful 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.

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 13, the delegation visited Noda Metal Industry and received a warm welcome from the firm’s management. Company Profile Noda Metal Industry Co., Ltd. is located in Noda City, Chiba Prefecture, and is engaged in the recycling of various scrap metals including aluminum and copper. The company is committed to creating recycling value and contributing to society through its scrap metal recycling business, and therefore purchases and recycles scrap metals under strict quality management. It primarily recovers or sells scrap metals generated from demolition sites, factories, and other locations, with products exported to Southeast Asia, China, and other countries. With stable business capabilities and high-quality services, the company has established a scalable operational advantage. Its current annual aluminum scrap trading volume exceeds 20,000 mt, and copper scrap trading volume exceeds 5,000 mt, continuously contributing to the development of the circular economy. This visit was an important practice of SMM's efforts to build an international exchange platform for the recycled metal industry, 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 Noda Metal Industry Co., Ltd.'s technological advantages, operational management experience, and market strategies in the recycled metal 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.

[Weakening Consumption, Declining Operating Rates of Galvanising Producers]: The operating rate of the galvanizing industry was 59.82% this week, down 0.37 percentage points WoW. Raw material side, zinc prices fluctuated at highs this week. Downstream buyers restocked on dips for rigid demand only, without large-scale stockpiling. Zinc ingot inventory of galvanising enterprises edged up.