On the 28th local time, OPEC+ held an online meeting. Early this morning, according to the latest news from Bloomberg, based on the statement released after the meeting, OPEC+ has agreed to use the 2025 oil production level as the benchmark for 2027. Meanwhile, OPEC+ will authorize the OPEC Secretariat to develop a mechanism to assess the maximum sustainable production capacity of participating countries, which will serve as a reference for the 2027 production benchmark. The next Joint Ministerial Monitoring Committee (JMMC) meeting of OPEC+ will be held on November 30th. OPEC+ will also hold another round of negotiations this Saturday, when it may decide whether to increase production in July. Representatives said that the eight OPEC+ member countries attending the meeting on Saturday may agree to increase daily production by 411,000 barrels in July, in line with the production increases in May and June. In addition, according to CCTV News, on the 28th local time, US President Trump stated that he had warned Israel to refrain from attacking Iran for the time being, so that the US government could have more time to promote a new nuclear agreement with Iran. Trump said he believed that Iran wanted to reach an agreement, which would "save many lives," and that the agreement could be reached "within the next few weeks." Trump also expressed his desire to bring inspectors to Iran. Overnight and into the early morning, international oil prices continued to rise. WTI crude oil futures rose by 2.5% to $62.41 per barrel, while Brent crude oil futures rose by 2% to $64.85 per barrel. At the close, WTI crude oil futures closed up 1.56% at $61.84 per barrel. Brent crude oil futures closed up 1.26% at $64.90 per barrel. US Fed releases minutes of May interest rate-setting meeting According to CCTV News, on May 28th local time, the US Fed released the minutes of the Federal Open Market Committee's meeting held from May 6th to 7th. The minutes showed that the Fed agreed to maintain the target range for the federal funds rate between 4.25% and 4.5%. Participants unanimously agreed that when considering the magnitude and timing of further adjustments to the target range for the federal funds rate, the Committee would carefully assess subsequent data, the changing economic outlook, and the balance of risks. The minutes stated that when assessing the appropriate stance of monetary policy, the Committee would continue to monitor the impact of future information on the economic outlook. Participants said that the assessment would take into account a wide range of information, including labour market conditions, inflationary pressures and inflation expectations, as well as financial and international developments. The Committee assessed that uncertainty regarding the economic outlook had further increased. Participants pointed out that if inflation persists while the outlook for economic growth and employment weakens, the Committee may face difficult trade-offs. The final magnitude of adjustments to government policies and their impact on the economy remain highly uncertain. Against this backdrop, all participants agreed that it was appropriate to maintain the target range for the federal funds rate at 4.25% to 4.5%. When considering the outlook for monetary policy, participants unanimously believed that, given the continued resilience of economic growth and the labour market, the Committee was well-positioned to wait for greater clarity on the outlook for inflation and economic activity. It was appropriate to adopt a cautious approach until the net economic effects of a series of government policy adjustments became clearer. Glencore makes significant purchases of Russian copper on the LME On Tuesday, Bloomberg reported market news that over the past three trading days, the London Metal Exchange (LME) Rotterdam warehouse had received delivery requests for approximately 15,000 mt of copper, leading to a significant decline in LME copper inventories. The report stated that Glencore, a global commodity giant, was the main trader behind these cargo pick-up applications and was planning to ship the copper to China. Notably, a substantial amount of Russian copper was involved in the transactions. It is understood that since the full-scale outbreak of the Russia-Ukraine conflict in 2022, escalating sanctions imposed by Europe and the US on Russia have led to a continuous accumulation of Russian copper inventories on the LME. In April 2024, the US and the UK announced new trading restrictions on Russian aluminum, copper, and nickel, including prohibiting the LME and the Chicago Mercantile Exchange (CME) from accepting newly produced Russian metals, while allowing eligible metal inventories. What are the implications? "After the US and the UK imposed sanctions on Russian copper in April 2024, Russian copper accounted for over 50% of the copper inventories in LME European warehouses, while China became one of the major export destinations for Russian copper following the sanctions," Zhang Weixin, a non-ferrous metals researcher at China Securities Futures, told reporters. After Russia and Ukraine resumed negotiations and proposed a ceasefire framework in May this year, Glencore may be betting on a relaxation of US and UK sanctions on Russia. Against the backdrop of warming spot demand in China, high premiums for imported copper, and the potential easing of US and UK sanctions on Russia, if Glencore resumes trading in Russian copper, it is expected to alleviate the "copper shortage" situation in the market. The reporter learned that in March this year, US copper prices surged to $11,633/mt, with a premium over LME copper reaching as high as $1,570/mt. Gu Fengda, chief analyst at Guosen Futures, stated that the high premium for US copper directly spurred a frenzy of "trans-oceanic arbitrage" and attracted a continuous influx of global spot copper into the US, further exacerbating the supply-demand mismatch across regions. Currently, the premium for US copper over LME copper stands at $683/mt, still significantly higher than the historical average for the same period. "With the favorable performance of copper fundamentals and the flow of some spot copper to the US, expectations of tight copper supply in markets outside the US continue to grow, which is also an important reason for Glencore's significant purchases of Russian copper this time."As spot liquidity tightens, LME copper's term structure may remain strong," said Xianfei Ji, a nonferrous metals researcher at Guotai Junan Futures. Data shows that since late April, LME copper inventories have continued to decline. This week, the destocking pace of LME copper inventories accelerated further, currently pulling back to 154,300 mt, hitting new periodic lows. Meanwhile, LME copper registered warrant quantities declined in tandem, now retreating to 83,125 mt. Cancelled warrants stood at 71,175 mt, with the ratio of cancelled warrants at 46.13%, remaining at elevated levels. Domestically, Weixin Zhang noted that due to the US "Section 232 investigation" on critical minerals, global commodity trading giants have diverted copper originally destined for Asia to the US, even relabeling Chilean Antofagasta copper ingots with US standards. This caused delays or cancellations of China's imported copper long-term contracts scheduled for April and May arrivals, driving up spot copper premiums in China and creating tight spot supply conditions. "Glencore's potential import activities could help alleviate China's copper supply tightness," said Yunfei Wang, head of the investment consulting department at ShanJin Futures. Currently, global copper cathode inventories are at median historical levels, while domestic copper inventories remain at historic lows. From price spread performance, the US copper premium over LME copper remains high, but with intensified price volatility, market divergence is gradually emerging. Policy-wise, after the US "reciprocal tariff" policy implementation was postponed, the market expected accelerated US copper scrap exports and increased raw material supply. However, domestic TC prices show no signs of raw material supply improvement yet. Inventory-wise, as of the week ending May 28, the US copper inventory buildup trend paused, while domestic social inventory also showed stabilization signs. Overall, Wang believes the US copper "arbitrage wave" may reverse at some point, creating downside potential for copper prices, though no reversal signals have appeared yet. Ji noted investors should closely monitor whether Trump will impose 25% additional tariffs on imported copper. If tariff hike expectations keep getting priced in, it may sustain high price spreads between US and LME copper, with South American and other regional supplies continuously diverted to the US, leaving other regions persistently undersupplied. "Short-term, under current spread structures, changed global copper trade flows seem only a matter of time," Wang stated. Medium and long-term, the copper market's focus remains on copper ore supply conditions and demand outlook.

With the rapid development of technology, tin solder, as an indispensable basic material in the field of electronic manufacturing, is increasingly highlighting its importance. From precision PCB circuit boards to dazzling LED lighting, from cutting-edge semiconductor packaging to the booming PV industry, the application of tin solder is ubiquitous and plays a crucial role in stabilizing and improving product quality. At the same time, we should also see that the rise of the manufacturing industry in Southeast Asia has brought new growth points to the tin solder market. This region is rich in labor resources, relatively low in cost, and has strong government policy support, attracting many international electronics companies to settle in. With the continuous development and expansion of these companies, the demand for tin solder will continue to grow. To more comprehensively display the distribution pattern of tin solder enterprises in China and Southeast Asia, and to more accurately meet market demand, Dongguan Tenghui Tin Industry Co., Ltd. has partnered with SMM to initiate the production of "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)" . Through this map, the industry can gain a more comprehensive understanding of the current application status of tin solder in China and Southeast Asia, empowering enterprise layout and industrial development. Tenghui Tin Industry was established in 2009 and is located in Dongguan City, Guangdong Province. Since its establishment, the company has always been committed to the refined production and deep processing of the solder industry, winning widespread industry recognition with high-quality products, excellent reputation, and superior service, and has developed into a reliable producer in the industry. Tenghui Tin Industry has a professional management team and production team, and has established long-term stable cooperative relationships with suppliers across the country. The company adheres to reasonable prices, credibility, and contract compliance, winning the trust of a wide range of customers. We have the most complete production equipment and process flow in the industry, with a daily production of refined tin reaching 30 mt, and is equipped with advanced detection equipment such as desktop Spark direct reading spectrometers and handheld spectrometers, capable of providing professional detection services to customers. In terms of corporate culture, Tenghui Tin Industry adheres to the principle of "cooperation with sincerity, operation with trust, and dedication to excellence, committed to environmental protection, striving to be China's most professional non-ferrous metal resource recycling enterprise." We pursue excellence, value every detail, and are committed to providing customers with satisfactory value-added services and high-quality products. Every employee of the company understands that customers are our source of livelihood, and their attention and patronage are our greatest reward. We advocate integrity, innovation, quality, and service, always putting customers at the center, and strive to provide the best solutions by continuously improving technical levels and service quality. Tenghui Tin Industry is not just a producer, but also a socially responsible enterprise, committed to environmental protection, hoping to make a positive contribution to society and the environment through our efforts. Whenever you need, just a supply call, we will provide door-to-door service in the shortest time, welcome all units, companies, and individuals to come for cooperation and price inquiries. We look forward to working with you to create a better future. Main business: production and sales of national standard white board refined tin, foil tin, 305 tin material, standard tin copper, 0307 tin material, 63\37 tin material, national standard silver board, and other products. Contact person Huaiqing Liao 13714200395 Guoxiong Liao 13828701483 》》Click the link to immediately receive the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)"《《 Map cooperation contact person Xuecheng Song 13033053725 songxuecheng@smm.cn

With the rapid development of technology, tin solder, as an indispensable basic material in the field of electronic manufacturing, is becoming increasingly important. From precision PCB circuit boards to dazzling LED lighting, from cutting-edge semiconductor packaging to the booming PV industry, the application of tin solder is ubiquitous and plays a crucial role in stabilizing and improving product quality. At the same time, we should also recognize that the rise of the manufacturing industry in Southeast Asia has brought new growth points to the tin solder market. This region is rich in labor resources, has relatively low costs, and enjoys strong government policy support, attracting numerous international electronics companies to set up operations. As these companies continue to grow and expand, the demand for tin solder will also continue to increase. To provide a more comprehensive display of the distribution pattern of tin solder enterprises in China and Southeast Asia and to more accurately meet market demands, Guangdong Xinkeju Machinery Manufacturing Co., Ltd. has partnered with SMM to initiate the production of the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)". Through this map, the industry can gain a more comprehensive understanding of the current application status of tin solder in China and Southeast Asia, empowering enterprise layout and industrial development. Guangdong Xinkeju Machinery Manufacturing Co., Ltd. is a high-tech enterprise integrating R&D and manufacturing, specializing in the production and sales of a complete set of equipment including solder wire equipment, tin powder equipment, solder paste equipment, pure zinc equipment, and zinc alloy equipment. The company owns a self-built modern standard factory building of 33,000 m², located at No. 208, Meijing West Road, Dalang Town, Dongguan City, adjacent to Songshan Lake, with convenient transportation and a beautiful environment. Since its establishment, the company has accumulated over twenty years of production and manufacturing experience and technical expertise, during which it has won numerous patents (including invention patents). It continuously absorbs advanced technologies and design concepts from similar equipment in Europe and America, continuously improving and optimizing product performance to ensure that each piece of equipment reaches industry-leading levels. With strong financial strength and advanced production equipment, the company provides high-quality products and efficient customized solutions to meet the diverse needs of different customers. Xinkeju Machinery always adheres to the principle of "quality first, customer foremost," establishing a quality awareness among all employees, strictly controlling quality, and ensuring that every product achieves optimal quality. At the same time, Xinkeju Machinery will wholeheartedly provide customers with comprehensive pre-sales, in-sales, and after-sales services, ensuring that customers have no worries during use. Looking to the future, Xinkeju Machinery will continue to uphold the corporate spirit of "innovation, progress, integrity, and win-win," constantly promoting technological innovation and product upgrades, and is committed to providing global customers with more high-quality and efficient machinery equipment solutions. Main products: ultrasonic tin powder machine, fully automatic tin bar machine, 350T extruder, 16B rolling mill, fully automatic casting rod machine Contact Kaihang Cai 139 2582 7222 》》Click the link to immediately receive the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)"《《 Map cooperation contact Ge Zhang 13564141216 zhangge@smm.cn

With the rapid advancement of technology, tin solder, as an indispensable basic material in the field of electronic manufacturing, has become increasingly important. From precision PCB circuit boards to dazzling LED lighting, from cutting-edge semiconductor packaging to the booming PV industry, the application of tin solder is ubiquitous, playing a crucial role in the stability and enhancement of product quality. At the same time, we should also recognize that the rise of the manufacturing industry in Southeast Asia has brought new growth points to the tin solder market. This region is rich in labor resources, has relatively low costs, and enjoys strong government policy support, attracting numerous international electronics companies to establish operations. As these companies continue to grow and expand, the demand for tin solder will also continue to increase. To provide a more comprehensive display of the distribution pattern of tin solder enterprises in China and Southeast Asia, and to more accurately meet market demands, Haoyu Electronic Materials Co., Ltd. has partnered with SMM to initiate the creation of "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)" . Through this map, the industry can gain a more comprehensive understanding of the current application status of tin solder in China and Southeast Asia, empowering enterprises in their layout and industrial development. Haoyu Electronic Materials Co., Ltd. was established in 2019 and is a high-tech manufacturing enterprise integrating production, sales, and service. The company is located in the manufacturing hub of Ho Chi Minh City, near the Ho Chi Minh City High-Tech Park, with convenient transportation. To better serve customers, the company opened a new factory in Long An Province in 2021. Over the past few years, we have understood that technical requirements, product quality, and service capabilities are the keys to building strong trust with our customers. For many years, we have been committed to the research and development of lead-free solder materials, with solder wire, solder paste, and solder bars as our main products. Our years of product research and development have increased our market share by five times. Among them, the Sn-Cu-Ag series solder bars have received widespread recognition from customers. Contact +86 18820312160 (China) Factory: 184, DT825 Road, Binh Tien 2, Duc Hoa Ha Hamlet, Duc Hoa District, Long An Province, Vietnam Office: 111, 15A Road, District 6, Phuoc Long B Ward, Thu Duc City, Ho Chi Minh City, Vietnam 》》Click the link to immediately receive the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)"《《 Map Cooperation Contact Ge Zhang 13564141216 zhangge@smm.cn

With the rapid development of technology, tin solder, as an indispensable basic material in the field of electronic manufacturing, has become increasingly important. From precision PCB circuit boards to dazzling LED lighting, from cutting-edge semiconductor packaging to the booming PV industry, the application of tin solder is ubiquitous and plays a crucial role in stabilizing and improving product quality. At the same time, we should also recognize that the rise of the manufacturing industry in Southeast Asia has brought new growth opportunities to the tin solder market. This region is rich in labor resources, has relatively low costs, and enjoys strong government policy support, attracting numerous international electronics companies. As these companies continue to grow and expand, the demand for tin solder will also continue to increase. To provide a more comprehensive overview of the distribution pattern of tin solder enterprises in China and Southeast Asia and to more accurately meet market demands, Jiangmen Shangqing Automation Equipment Co., Ltd./Jiangmen Shangqing Intelligent Technology Co., Ltd. has partnered with SMM to initiate the creation of "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)" . Through this map, the industry can gain a more comprehensive understanding of the current application status of tin solder in China and Southeast Asia, empowering enterprise layout and industrial development. The Shangqing team was founded by Mr. Li Xuefeng and Mr. Li Zhengmao. Since 2003, it has been providing tin processing equipment for the mainland factories of Taiwan's Shenmao Group, as well as installation and commissioning services for large production lines and equipment across various industries. In 2006, the Shangqing team registered and established "Dongguan Changqing Automation Equipment Co., Ltd.," expanding its business to the entire tin solder industry. During the same period, it joined the Tin Solder Branch of the China Electronics Industry Association as a member, dedicated to the R&D and production of tin solder equipment. In 2013, Mr. Fu Zhizhong joined the Shangqing team, and the company relocated to Jiangmen City in the Guangdong-Hong Kong-Macao Greater Bay Area, renaming itself Jiangmen Shangqing Automation Equipment Co., Ltd. It continues to provide excellent equipment and services to the tin industry. In 2024, the Shangqing team established Jiangmen Shangqing Intelligent Technology Co., Ltd., offering advanced equipment for tin, lead, zinc, copper, and aluminum. In addition to providing tin solder equipment, the Shangqing team also offers supporting production processes, including flux formulations and flux technology. For new factories without tin solder production experience, the Shangqing team can provide comprehensive production technology training. Main Products: Lead and tin smelting equipment: smelting furnaces, lead-tin separation crystallizers, Lead and tin deep processing equipment: tin bar machines, tin ball machines, and tin hemisphere machines, tin anode rod machines; complete solder wire production lines (tin melting furnaces, horizontal continuous casting machines, solder wire extruders, solder wire rolling mills, solder wire drawing machines, winding machines); tin powder equipment, BGA solder ball equipment, 2mm~4mm small solder ball equipment Target Customers: Tin smelters, tin solder processing plants, copper and aluminum wire processing plants Contact Person Address: Building D5, No. 47 Yongkang Road, Jianghai District, Jiangmen City, Guangdong Province Company Contact Person: Li Xuefeng (Lee) 18922040001 Foreign Trade Contact Person: Chen Qiongdi (JUDY) 18922000803 》》Click the link to immediately receive the "2025 China and Southeast Asia Tin Solder Procurement Guide (Bilingual Edition)"《《 Map Cooperation Contact Person Zhang Ge 13564141216 zhangge@smm.cn

Market bottomed out and rebounded, closing in the green with slight gains for the three major indices. The performance of large and small indices diverged, with the micro-cap index falling over 4%. The total trading volume of the Shanghai and Shenzhen markets was 145 billion yuan, a decrease of 100.1 billion yuan from the previous trading day. On the futures market, market hotspots were rather mixed, with more stocks declining than rising, over 3,800 stocks across the market fell. In terms of sectors, cyclical stocks such as non-ferrous metals were active, with North Copper hitting the daily limit. Tourism stocks strengthened, with Emeishan A reaching the daily limit. Deep-sea technology concept stocks bottomed out and rebounded, with multiple stocks including Asia Star Anchor Chain hitting the daily limit. On the downside, computing power concept stocks weakened, with Jinji Co. falling over 10%. At the close, the Shanghai Composite Index rose 0.15%, the Shenzhen Component Index rose 0.07%, and the ChiNext Index rose 0.01%. Sectors: Tourism stocks were active against the trend, with Zhangjiajie, Emeishan A, Dalian Shengya, Tianfu Culture & Tourism, and other stocks hitting the daily limit. Changbaishan, Xiangyuan Culture & Tourism, Xi'an Tourism, and other stocks followed suit. News-wise, several online travel platforms recently released trends for the Qingming holiday. Reports indicated that as temperatures rose across the country, the bright spring weather boosted travel enthusiasm, with the main focus of the Qingming mini-holiday being traditional rituals, flower viewing, and "spring-limited" activities. AVIC Securities believes that government policy support and increased consumer vitality are expected to further boost the tourism market in spring and summer. In 2025, China's tourism industry is showing high-quality development, with tourist demand shifting from traditional sightseeing to immersive experiences and personalized exploration. Reverse tourism, small group free tours, and characteristic small cities have become new trends. Deep integration of technology drives industrial upgrading, with digital technology empowering the entire "food, accommodation, transportation, tourism, shopping, and entertainment" chain, and the application of smart scenic area management systems significantly enhancing tourist experience and operational efficiency. Cyclical stocks such as non-ferrous metals were active, with North Copper and Electric Alloy hitting the daily limit, Xinweiling rising over 17%, and Anning Shares, Jiangxi Copper Corporation (JCC), Jiaozuo Wanfang, Yechiu, and other stocks leading the gains. News-wise, international copper prices have been continuously rising, with COMEX copper futures prices reaching a new high for the year on March 20, at $5.1490/lb. At the same time, London Metal Exchange copper prices hit $10,046.5/mt, the highest since October 2024. From a market perspective, compared to repeatedly hyped tech stocks like AI and robotics, cyclical stocks are generally at lower levels and have relatively independent reasons for their rise, fitting the current preference for switching from high to low. Cyclical stocks are still expected to be active as transitional themes in subsequent sessions. Deep-sea technology stocks strengthened again in the afternoon, with Shaoyang Hydraulic, Dalian Heavy Industry, Zhenhua Heavy Industries, Youfu Co., and Asia Star Anchor Chain hitting the daily limit. News-wise, multiple provinces and cities, including Shanghai, Guangdong, Qingdao, and Zhangzhou, are promoting marine economic development. Additionally, Yantai held a press conference, aiming for a marine GDP of over 300 billion yuan by 2025. From a market perspective, deep-sea technology stocks experienced some divergence in the morning but quickly regained momentum in the afternoon, resonating to some extent with the indices. The short-term status of this theme may further improve. It is expected that recent active short-term funds will continue to focus on deep-sea technology concepts, with opportunities for extended sub-sector plays beyond the front-line core stocks. Individual stocks: From an individual stock perspective, the market's loss effect increased today. Some popular high-standard stocks in robotics and computing power continued to weaken, with Xiangyang Bearing, Yuhuan CNC, Qijing Machinery, Ningbo Dongli, Dawei Technology, and Zhejiang University Network New all hitting the daily limit. The successive decline of high-profile themes led to a reduction in overall risk appetite. Additionally, three stocks, Lianchuang, Langyuan, and Xiangxue Pharmaceutical, were designated as ST over the weekend, negatively impacting pure thematic speculation, resulting in a collective plunge of micro-cap stocks. However, during today's session, there were still signs of emotional activity in the short term, with Xuelong Group and Ocean King both completing a floor-to-ceiling move. The deep-sea technology sector also maintained high activity, although the high-standard Shenkai Co. faced negative feedback, mid-tier stocks such as Dalian Heavy Industry, Shaoyang Hydraulic, Zhenhua Heavy Industries, and Asia Star Anchor Chain all achieved consecutive daily limits. Therefore, the deep-sea technology concept may become the emotional carrier for short-term speculation and remain active in the future. Outlook: Today's market bottomed out and rebounded, with all three major indices successfully turning red at the close, reflecting that after a period of continuous consolidation, the market still has some underlying momentum, and market sentiment has not completely dissipated. However, based solely on today's end-of-day rebound, it is still uncertain whether the market has stabilized. To truly break out of the weak consolidation structure, the indices need to confirm by standing above the 5-day moving average with volume. Additionally, from the direction of today's end-of-day capital inflow, larger blue-chip stocks showed more significant recovery, while smaller-cap stocks had limited rebound, with the micro-cap index still falling over 4%. This may indicate a shift in market style, and with the approaching annual report season, weighty blue-chips with higher earnings certainty are likely to be favored by investors. Short-term sentiment further weakened, with the sentiment indicator oscillating downward into the doldrums throughout the day. Market Highlights: 1. Ministry of Finance: Support for Comprehensive Expansion of Domestic Demand, Vigorously Boosting Consumption On March 24, the Ministry of Finance released the 2024 China Fiscal Policy Implementation Report. The report proposed that in 2025, fiscal policy should be more proactive, supporting comprehensive expansion of domestic demand. Efforts will be made to vigorously boost consumption, increase people's livelihood protection, and diversify channels to increase residents' income. Implement a special action plan to boost consumption, increase support for trade-in programs for consumer goods. Appropriately raise the basic pension for retirees, and increase the fiscal subsidy standards for basic pensions and basic medical insurance for urban and rural residents. Promote the national comprehensive freight hub chain strengthening and upgrading actions, and the digital transformation and upgrading of road and waterway transportation infrastructure, to reduce the overall logistics costs. Actively expand effective investment. Coordinate the use of various government investment funds, focusing on key areas and weak links. Reasonably arrange the issuance of government bonds, accelerate the budget allocation of government bond funds, and form physical workloads as soon as possible. 2. Ministry of Human Resources and Social Security: Include Small Business Owners, Individual Entrepreneurs, and Others in the Special Loan Program for Job Stabilization and Expansion, with a Maximum Credit Line of 10 Million Yuan for Individuals On March 24, the Ministry of Human Resources and Social Security issued a notice to further increase financial support for job stabilization and expansion. In addition to small and micro-enterprises, small business owners and individual entrepreneurs will be included in the special loan program for job stabilization and expansion. The credit line for small and micro-enterprises will be increased from 30 million yuan to 50 million yuan, and the maximum credit line for individuals will be 10 million yuan.

The relentless lithium price bubble, the star of the electric vehicle (EV) and energy storage revolution, has come hand in hand with price volatility on a record scale. Nicknamed "white gold," lithium prices have recorded breathtaking highs and lows, and industry players everywhere are at their wit's end trying to keep up with uncertainty.

The lithium battery revolution and rapidly expanding energy storage sector have placed lithium on the global map, with it also being referred to as "white gold." Utilized as a critical component of high-performance batteries, the usage of lithium has increased exponentially, and it is now a top investment area. However, the journey has not been smooth.

The policy drive for the transition of the world in cleaner, renewable energy has really triggered an unbeatable surge in the demand for such metals as cobalt, lithium, and nickel. They are very important development factors in electric vehicle economies, batteries, energy-storage systems, and renewable energy technology in general. Indeed, technological development is creating demand for such metals on one hand, while there are major government policies that drive the demand much deeper: from tax breaks and subsidies given to green technologies down to rules covering imports and exports, numerous policy measures reach and set prices of such critical metals.

[SMM Analysis: Brief Review of Secondary Copper Rod in 2024] In 2024, the government introduced several policies targeting the recycling industry, among which the "reverse invoicing" and the Fair Competition Review Regulations had varying degrees of impact on the industry.....