Recently, the steel-coke integrated clean energy project of CIMC Enric in Liupanshui City, Guizhou Province, officially went into operation. Relying on local steel industry resources, the project has achieved efficient and resource-based utilization of coke oven gas, producing fuel cell-grade high-purity hydrogen and clean energy LNG on a large scale, injecting new momentum into the expansion of the hydrogen energy industry and the development of comprehensive clean energy utilization in south-west China. The project, controlled by CIMC Enric and solely invested and constructed by its subsidiary CIMC New Energy (Liupanshui) Technology Co., Ltd., relies on the industrial coke oven gas from Shougang Shuicheng Steel (Group) Co., Ltd. as the core production raw material to specially produce blue LNG and 99.999% high-purity blue hydrogen , achieving green and high-value-added conversion of industrial tail gas. The overall project total investment of 808 million yuan , with a construction period of 12 months and a planned site area of 248 mu. After reaching full production, it is expected to achieve an annual output of approximately 140,000 mt of LNG and annual production of 24 million Nm³ of high-purity hydrogen , with considerable capacity scale and outstanding industrial benefits. It is reported that this project is an important piece in CIMC Enric's integrated steel-coke industry layout. Currently, the enterprise already has two similar projects, at Ansteel Bayuquan and Lingsteel, operating stably. Meanwhile, three new projects are in the early preparation stage. The industry layout covers domestic provinces such as Liaoning, Guizhou, and Sichuan, and extends to overseas markets in Southeast Asia. As of now, the company's total operating integrated steel-coke projects are expected to achieve an annual production capacity of 48 million Nm³ of hydrogen, 420,000 mt of LNG, and 80,000 mt of liquid ammonia, with the advantages of large-scale industrial clusters gradually becoming prominent. The Liupanshui project was implemented entirely relying on CIMC Enric's proprietary core technologies and complete equipment systems. Throughout the entire process of production, liquefaction, storage and transportation, distribution, and end-use applications, it is equipped with the enterprise's self-developed LNG storage tanks, cryogenic liquefaction equipment, hydrogen compression units, and a plant-wide DCS intelligent control system, achieving digitalized and refined control over the entire production chain. Meanwhile, the project received integrated comprehensive construction services from CIMC Enric Engineering Technology Co., Ltd., fully leveraging the company's technical barrier advantages in core processes and key equipment, to create a high-quality, innovative clean energy comprehensive demonstration project, precisely aligning with Guizhou Province's "Rich Ore Refined Development" policy and helping to upgrade and expand the regional clean energy industry. The high-purity hydrogen produced by this project fully meets fuel cell-grade application standards , with significant industrial empowerment value. On the one hand, it can steadily provide low-cost, high-quality hydrogen sources for industrial enterprises in the region such as precious metal processing and semiconductor manufacturing, ensuring the hydrogen demand of local high-end manufacturing industries. On the other hand, it will strongly support the construction of Liupanshui as a hydrogen energy demonstration city, helping to deploy new application scenarios such as gas-hydrogen-electricity integrated energy service stations and hydrogen combined heat and power. The project will also become a core hydrogen supply node in the "Yu-Qian-Gui" Hydrogen Corridor , improving China's industrial by-product hydrogen purification and hydrogen source supply system, and laying a solid foundation for building a cross-regional supply and sales framework of "Guizhou Hydrogen, Guangdong Sales" and establishing channels for the entire hydrogen energy industry chain in the future. Currently, Liupanshui City has built a diversified, multi-scenario hydrogen downstream consumption system, with remarkable results in the commercialization and application of hydrogen energy. Since 2025, 100 49-mt-class hydrogen heavy-duty trucks and 4 8.6-metre hydrogen fuel cell buses have been put into use locally. At the same time, the first hydrogen fuel cell locomotive in south-west China has been deployed and completed trial operation, filling the industrial gap in hydrogen railway freight in south-west China. At this stage, Liupanshui continues to broaden the application boundaries of hydrogen energy, covering heavy-duty truck transport, sanitation operations, cold chain logistics, and railway freight—various livelihood and industrial sectors—while actively exploring cutting-edge application tracks such as hydrogen metallurgy and hydrogen-based chemicals, striving to build a comprehensive and multi-level hydrogen industry ecosystem.

Indian rebar producer VMS TMT has approved a merger with Aditya Ultra Steel to build a more integrated manufacturing base and improve operational efficiency. The deal remains subject to statutory approval. The merged entity will consolidate its Gujarat operations and “Kamdhenu”-branded rebar ecosystem, with combined annual capacity of around 300,000 tonnes and a dealer network of about 300, supporting procurement, production, logistics and distribution synergies.

[SMM Aluminum Express News] AD Ports Group and Emirates Global Aluminium will jointly invest AED 84 million (US$22.9 million) to upgrade EGA’s dedicated berth at Khalifa Port. The multi-phase project will enable the berth to accommodate Newcastlemax dry bulk vessels, which can carry 15–20% more cargo than the Capesize vessels currently used. Upon completion by August 2028, the upgraded berth is expected to handle approximately 8 million tonnes of bulk cargo annually, enhancing raw material logistics efficiency and supply chain resilience for EGA’s aluminium operations.

Zimbabwe's Finance Minister Mthuli Ncube revealed during the World Economic Forum in Dalian that the country is actively considering using its abundant mineral resources as collateral through "resource‑linked debt instruments" to finance road and railway construction projects in cooperation with China. This model aims to leverage future revenue from natural resources as loan guarantees to address the huge funding gap for infrastructure development. Ncube said Zimbabwe has held preliminary discussions with China Railway Group regarding such financing arrangements. He told reporters: "We have discussed resource‑linked debt instruments and hope to use them in the future to support infrastructure development, particularly in the road and railway sectors." Under the envisaged plan, Zimbabwe would assess project costs, toll revenue potential, and the return cycle of required resource investments to determine the scale of resource collateral and the repayment path. As Africa's largest lithium producer, Zimbabwe possesses rich mineral resources, but years of economic mismanagement and political instability have left its infrastructure severely lagging. The African Development Bank estimates that the country needs approximately US$34 billion to modernise its transport and logistics network. The proposed resource‑for‑infrastructure plan resembles the model of the US$7 billion Sicomines copper‑cobalt joint venture in the Democratic Republic of Congo with Chinese companies. As early as September 2025, Zimbabwe's President, during a meeting in Beijing with senior executives of China Railway Group, promoted a railway rehabilitation cooperation plan totalling US$533 million. The project is to be implemented by Chuantie International, a subsidiary of China Railway Group with extensive experience in African projects. The scope of work includes repair and reinforcement of existing lines and bridges, modernisation of signal systems, procurement of 17 locomotives and 209 freight wagons, construction of five new stations, and the key trunk line connecting Beitbridge and Harare – a strategic corridor leading directly to South Africa, which is vital to Zimbabwe's foreign trade. Currently, the project's financing method and formal signing date are still under final negotiation. Zimbabwe's railway network was built during the colonial era and carried up to 12 million tonnes of freight annually in the 1990s. However, decades of underinvestment, equipment obsolescence, and foreign exchange shortages have caused the railway infrastructure to deteriorate continuously. Current annual freight volume has fallen to less than 3 million tonnes – only 15% of its historical peak. Many lines are overgrown with weeds, and a large number of locomotives and rolling stock have been taken out of service, directly weakening the capacity to transport bulk commodities such as lithium, chrome ore, and coal to the ports of Mozambique and South Africa. Consequently, Chinese mining enterprises operating in Zimbabwe – including Tsingshan Holding Group, Sinosteel Corporation, and Zhejiang Huayou Cobalt – all face export bottlenecks for their products. The decline of the railway system has forced a large volume of freight onto roads, leading to a surge in heavy trucks, which in turn exacerbates road congestion, traffic accidents, and pavement damage, forming a vicious cycle. In response, the National Railways of Zimbabwe has incorporated this railway rehabilitation into a broader modernisation framework and has engaged in cooperation with 11 private enterprises. Among them, South Africa's Grindrod, through its subsidiary Beitbridge‑Bulawayo Railway Company, has already deployed three locomotives and 150 freight wagons to alleviate current transport pressures. At the same time, Zimbabwe is exploring collaboration with the University of Zimbabwe to leverage the university's innovation centre for localised railway technology R&D and talent training, building capacity for long‑term operations. Analysts point out that if this railway rehabilitation is successfully implemented, it will not only fully restore Zimbabwe's deteriorated railway network, but also provide critical logistics support for the country's US$12 billion mining target, while further deepening the strategic presence of Chinese enterprises in Zimbabwe's mining and infrastructure sectors. According to market dynamics, in recent years – and especially since the beginning of this year – lithium ore shipments from Zimbabwe have been persistently delayed at ports, with insufficient inland transport capacity being one of the main bottlenecks hindering smooth cargo arrivals. As the relevant logistics system upgrades are put into effect, this situation is expected to be significantly alleviated, and the transport efficiency of lithium materials will be notably improved, thereby injecting solid momentum into the stabilisation of global lithium supply. Sources: Mining.com , Azure Track Rail, and SMM

The Canadian federal government is considering granting national interest status to the Mackenzie Valley Highway and the Grays Bay Road and Port Project (GBRP), two major infrastructure developments aimed at improving access to mineral-rich regions in Nunavut and the Northwest Territories. The Mackenzie Valley Highway would extend approximately 800 km north from Wrigley to Inuvik, while the GBRP includes a deepwater port, airstrip and a 230-km all-season road connecting Nunavut and the Northwest Territories. Canadian officials said the projects could significantly improve transportation infrastructure, reduce logistics costs, and facilitate the development of zinc, copper, silver and other base metal deposits in the Far North. Companies that could benefit include Glencore, MMG and West Kitikmeot Resources. If approved, the projects would become among the first to receive consideration under Canada’s Building Canada Act, potentially accelerating permitting and regulatory approvals through the Major Projects Office.

SMM June 30 News: News 1: [2k-ton Waste Li-ion Battery Recycling Project Launched in Changsha, Hunan] Recently, the ecological environment authority released the public notice on the draft EIA report for the waste power battery recycling and resource utilization project (Phase I). The project involves a total investment of RMB 30 million, located in Ningxiang Economic and Technological Development Zone, Changsha, Hunan. It consists of one dismantling and pyrolysis production line for waste LIBs and separators. Upon completion, it will achieve an annual processing capacity of 10,000 tons of waste LIBs and separators, yielding 4,100 tons of lithium battery black mass and 2,590 tons of copper/aluminum materials per year. News 2: [20k-ton Waste New Energy Li-ion Battery Recycling Project Launched in Jieshou, Anhui] Recently, the local government released the first public announcement on EIA for the project of recycling 20,000 tons of waste new energy LIBs and producing 30,000 tons of recycled plastic products annually. The project involves a total investment of RMB 100 million, located in Tianying Science and Technology Park, Jieshou High-tech Zone. It consists of two waste LIB crushing production lines, four plastic pellet production lines, and four plastic product production lines. Upon completion, it will achieve an annual processing capacity of 20,000 tons of waste new energy LIBs, and an annual output of 20,000 tons of modified plastic pellets and 10,000 tons of plastic products. News 3: [80k-ton Waste Li-ion Battery Dismantling and Comprehensive Utilization Project Launched in Gao County, Sichuan] Recently, the local government released the public notice on the draft EIA report for the 80,000-ton waste LIB dismantling and comprehensive utilization project. The project involves a total investment of RMB 300 million, located in Yibin Circular Economy Industrial Park, Gao County. It consists of 10 battery dismantling and crushing production lines, including three LFP battery crushing lines, two NCM battery crushing lines, two LFP cathode sheet processing lines, two LFP anode sheet processing lines, and one battery cascade utilization line. Upon completion, it will achieve an annual dismantling and comprehensive utilization capacity of 80,000 tons of waste LIBs. News 4: [300k-ton Waste LFP Battery Regeneration Project Launched in Yichang, Hubei] Recently, the ecological environment authority released the public notice on the draft EIA report for the 300,000-ton waste LFP battery regeneration project. The project involves a total investment of approx. RMB 1.07 billion, located in Yaojiagang Chemical Park, Yichang, Hubei. It consists of hydrometallurgical leaching, impurity removal, lithium salt synthesis, iron phosphate synthesis, and supporting water treatment, warehousing and logistics systems. Upon completion, it will achieve an annual processing capacity of 300,000 tons of waste LFP battery packs, yielding 22,500 tons of lithium carbonate, 90,000 tons of iron phosphate, and 64,000 tons of sodium sulfate per year. News 5: [20k-ton Waste Power Battery Crushing and 50k-group Cascade Utilization Project Launched in Kashgar, Xinjiang] Recently, the ecological environment industry association released the first public announcement on EIA for the integrated project of cascade utilization and crushing & recycling of new energy vehicle waste power batteries in Kashgar Economic Development Zone. The project is located in the Chengbei Area of Kashgar Economic Development Zone. It consists of one cascade utilization production line with an annual processing capacity of 50,000 groups of waste power batteries, and one crushing and sorting production line with an annual processing capacity of 20,000 tons of waste power batteries. Upon completion, it will achieve the above-mentioned annual processing capacities. News 6: [100k-ton Retired Li-ion Battery Recycling Project Launched in Lixian, Hunan] Recently, the local government released the announcement on the launch of the new energy circular economy and energy storage equipment industry project in Lixian. According to public information, the Phase I investment is RMB 500 million, located in Lixian, Changde, Hunan. It consists of production lines for recycling and processing 100,000 tons of retired LIBs and 100,000 tons of retired PV modules annually. Upon completion, it will achieve an annual processing capacity of 100,000 tons of retired LIBs, with an estimated annual output value of RMB 1 billion.

In H1 2026, lithium battery recycling capacity construction accelerated, with seven provinces and regions—Ningxia, Jiangxi, Hunan, Anhui, Sichuan, Hubei, and Xinjiang—collectively announcing environmental impact assessment documents for a batch of scrap lithium battery recycling and comprehensive utilization projects. These projects cover various types of scrap resources such as LFP, ternary battery packs, positive and negative electrodes, and wires and cables, showing a clear trend of lithium battery recycling expanding from eastern coastal regions to the inland areas of central and western China.

SMM, June 30 According to SMM statistics, overseas metallurgical-grade alumina output in June 2026 fell by around 6.0% YoY and 5.5% MoM. Supply-side disruptions in the overseas alumina market became more evident compared with May. On the one hand, affected by tensions in the Middle East, production and shipment schedules at some producers have yet to fully recover. On the other hand, weather-related disruptions and natural gas supply issues in Australia continued to weigh on local alumina output and shipments. By company and region, Alcoa said that due to the impact of Cyclone Narelle in Australia, LNG supply to its Pinjarra alumina refinery in Western Australia was temporarily disrupted. As a result, the company expects its alumina shipments in Q2 to decrease by around 120,000 mt compared with Q1, while the disruption is expected to increase Q2 production costs by around $30 million. In addition, due to tensions in the Middle East, fuel costs at the company’s São Luís alumina refinery in Brazil also increased. Alcoa’s Western Australia alumina operations are currently under significant pressure from weak alumina prices, declining bauxite grades and rising energy costs. In Europe, geopolitical risks continued to escalate. During the EU’s new round of discussions on sanctions against Russia in June, exports of alumina from Ireland’s Aughinish Alumina to Russia remained under scrutiny. Public reports showed that alumina exports were not included in the latest EU sanctions package for the time being. However, if sanctions are tightened further, this could affect European alumina trade flows and the regional supply landscape. Entering June, with some Malaysian bauxite cargoes arriving, feedstock availability improved at certain alumina refineries in Indonesia, creating room for a subsequent recovery in output. However, Indonesia’s bauxite quota policy and logistics stability still need to be closely monitored. In addition, Tajikistan and Azerbaijan also discussed cooperation in alumina supply and aluminium product trade in June. Under the proposed arrangement, Azerbaijan would supply alumina to Tajikistan, while Tajikistan would export aluminium products to Azerbaijan. This cooperation is expected to have limited impact on overseas alumina output in the short term, but it reflects ongoing regional aluminium industry chain coordination and adjustments in trade flows. Looking ahead to July, overseas metallurgical-grade alumina supply is expected to see a recovery, with output likely to rise by around 4.5% MoM. On the one hand, raw material constraints at some Indonesian alumina refineries have eased following the arrival of bauxite cargoes, and output is expected to recover gradually. On the other hand, weather-related and natural gas supply disruptions in Australia are easing at the margin, which may support the recovery of previously affected production and shipment schedules. However, geopolitical risks in the Middle East, uncertainty over EU sanctions against Russia, energy cost pressure in Australia, and Indonesia’s bauxite quota issues may continue to disrupt the recovery of overseas supply. Overall, overseas alumina output is expected to rebound slightly in July, but supply-side uncertainty remains relatively high.

On June 30, Sinomine Resource Group announced that its wholly-owned subsidiary, Jiangxi Sinomine Lithium, will temporarily suspend production for maintenance on its "30,000-tonne high-purity lithium salt" production line effective June 30, 2026, due to a mismatch between the transportation cycle of self-produced lithium concentrate and production scheduling. In addition, the "35,000-tonne high-purity lithium salt" production line will undergo temporary maintenance shutdown starting July 11, operating at partial low-load capacity, with completion expected by the end of July. The company stated that while short-term lithium salt output will decline, downstream demand remains strong, and full-year production and sales volumes will not be materially and adversely affected. The company will also improve the efficiency of lithium concentrate shipments and accelerate the construction of its lithium sulfate project.

Entering July, the traditionally recognized "off-season" for power batteries appears to be losing its relevance. According to the latest SMM data, power battery production in June continued its growth trajectory, up 9% MoM and over 65% YoY. In July, a month that typically sees a seasonal pullback, production schedules also maintained MoM growth of roughly 9%, displaying a rare "stronger-than-usual off-season" pattern across the industry. What is driving this counter-seasonal growth? Demand Side: PHEVs and EREVs Lead the Way, Commercial Vehicles Show Strong Momentum From the perspective of end-use demand, new orders for new energy vehicles remained robust, particularly for plug-in hybrid (PHEV) and extended-range (EREV) models, which continued to ramp up volume. With product advantages offering a balance of driving range and charging convenience, these have become key growth drivers in the current passenger vehicle market. Meanwhile, new model orders released by some automakers earlier are gradually feeding through to the battery segment, translating into tangible production schedule boosts. The commercial vehicle sector is equally noteworthy. Driven by sustained policy support, the electrification of logistics vehicles, light trucks, and heavy-duty trucks has clearly accelerated, with full life-cycle cost advantages becoming more pronounced in high-frequency operational scenarios. After entering July, commercial vehicle demand did not weaken seasonally but instead maintained a steady growth trend, providing strong support for high-capacity LFP battery cells. The LFP system continues to dominate this round of incremental growth — on one hand, benefiting from the continued volume ramp-up of mainstream A-class and below passenger vehicles, and on the other, receiving an additional boost from the dual drivers of energy storage and commercial vehicle demand. While the overall recovery pace for the ternary system lags behind that of LFP, marginal improvements in high-end BEV models, a new wave of export orders, and some export demand have also driven a certain rebound in ternary battery cell production among top-tier players, effectively supplementing overall industry output. Inventory Side: Low Inventories Drive Pre-stocking Window Forward Beyond direct demand-side drivers, inventory levels across the industry chain serve as another important supporting factor for this "stronger-than-usual off-season." Currently, overall inventory across the power battery industry chain remains at a relatively low-to-normal level (the inventory-to-sales ratio is about 1.3 months), leaving battery cell manufacturers with a thin safety margin for stockpiling. Against this backdrop, enterprises' willingness to actively build inventory has strengthened considerably — rather than waiting for the peak season to arrive and then making passive procurement under delivery pressure, it is better to lock in capacity and accumulate an inventory buffer ahead of time during the off-season window. It is particularly worth noting that this stockpiling activity is expected to continue through August, with the core logic being early positioning for the traditional "September-October peak season." Mainstream battery cell enterprises broadly assess that the end-use consumption peak from late Q3 to early Q4 will bring concentrated cargo pick-up demand. If inventory preparation proves insufficient by then, it will directly impact delivery capabilities and market share. Therefore, the current seemingly "excessive" production schedules are essentially forward-looking, strategic stockpiling actions. Outlook: Peak Season Stockpiling Logic Continues to Unfold, Production Hits New Highs With dual support from both the demand and inventory sides, power battery production is expected to extend its growth trajectory in August. Structurally, LFP will remain the core source of incremental growth, while ternary battery cell output is projected to stage a steady rebound as high-end models and export orders continue to improve. Driven by the combined forces of policy support, new model volume ramp-ups, and proactive stockpiling, a "stronger-than-usual off-season" for the power battery industry is likely to become a defining feature of H2 2026, laying a solid foundation for achieving the full-year production target. SMM New Energy Industry Research, Lithium Industry Analyst, Wang Zihan 021-51666914