[SMM Analysis]Aluminum Processing PMI Rebounded Sharply to 66 in March, Expected to Pull Back in April

[China Iron Ore Brief Review: Iron Ore Concentrate Prices in Shandong May Continue to Fluctuate] In Shandong, the pre-tax dry-basis price of 64-grade alkaline iron ore concentrates at mines and beneficiation plants fell by 5 yuan to 894 yuan, while steel mills also lowered prices in tandem. Most miners maintained normal production, inventory accumulation was not obvious, and most basically had no inventory. Steel mills’ purchases under long-term contracts remained unchanged, with most purchasing as needed and maintaining low inventory operations. On the news front, external market disruptions have not eased, and imported ore prices have remained at a relatively high level, which may provide some support for domestic iron ore

Shandong Xingyi Metallurgical Equipment Co., Ltd. is moving forward with its high-speed precision cold rolling mill manufacturing project in Guan County, Liaocheng. With a total investment of 1.05 billion yuan, the facility features three interconnected stainless steel workshops designed for fully integrated, end-to-end production of cold rolling equipment. Having broken ground in June 2025, the project has completed its foundation work and is on track for an October 2026 launch. Once operational, it will produce 30 sets of cold rolling equipment annually, filling a key gap in the region’s high-end machinery manufacturing sector.

SMM, March 30: SMM learned that Shandong Humon will launch an open bid sale for its electronic-grade sodium antimonate, effective today. The quantity is 33 metric tons (subject to the seller's actual quantity), with dobie packaging. The delivery method is buyer pickup, with freight borne by the buyer. Transportation must comply with national regulations using fully licensed hazardous chemical vehicles. The buyer must pick up the goods before April 20, 2026, at the delivery location of Shandong Humon Smelting Co., Ltd.

On the morning of March 28, Wanhua Chemical's Wanhua Haiyang Green Electricity Industrial Park held a ceremony in Longshan Subdistrict, Haiyang City, Yantai City, Shandong Province, marking the commencement of production for Phase I and the groundbreaking for Phase II. This industrial park is a landmark project for Wanhua Chemical's strategic transformation into "chemicals + new energy" and its expansion into battery materials as a second core business. Covering a total area of approximately 1,850 mu, the park involves a planned total investment of 16.8 billion yuan. It has been designated as a major project in Shandong Province for 2025, a provincial source-grid-load-storage integrated pilot project, and a provincial green electricity industrial park pilot zone.

Recently, Shandong, Shanxi, and other regions issued notices to adjust or revoke certain wind power and PV power generation projects, involving the adjustment of PV investment layouts by multiple central state-owned enterprises and state-owned enterprises. Industry insiders pointed out that behind this change are multiple adjustments in policy orientation, market conditions, and corporate strategy. It also reflects that China’s new energy industry has reached a critical watershed on the path toward “high-quality development,” with the industry landscape, technological routes, and development models all undergoing comprehensive restructuring.

[SMM Aluminum Flash News] Recently, the vessel "Furui," loaded with prebaked anode cargo, successfully departed from the bulk cargo terminal of the Binzhou Port Area of Bohai Bay Port, Shandong Port, marking the successful addition of a new high-value-added cargo category to Binzhou Port's bulk and breakbulk business. The launch of this new cargo category was an important achievement in the deepening strategic cooperation between Binzhou Port and Sunstone Global Supply Chain, and also a key step for the port to break through its traditional cargo source structure and optimize its business layout, which is of great significance for enhancing the port's comprehensive service capabilities and strengthening its competitiveness in the regional market.

Overall, amid the structural adjustment of shifting demand across global regions, China’s prebaked anode exports could offset the pressure from weakening demand in traditional markets through market structure optimization and a shift in the center of orders, coupled with its own capacity and supply chain advantages. Full-year China prebaked anode exports are expected to maintain a certain increase.

Recently, a relevant website released the completion environmental protection acceptance monitoring report for the "Green Dismantling, Energy Saving, Emission Reduction, Recycling, and Reuse Vehicle Power Battery Pack Project" undertaken by a low-carbon technology company in Shandong, indicating the project is about to enter the production phase. The project primarily procures battery pack dismantling equipment, battery pack testing equipment, module testing equipment, battery testing equipment, assembly equipment, etc. Using acquired spent power battery packs as raw materials and purchased wiring harnesses, casings, etc., as auxiliary materials, through processes of dismantling, assembly, testing, and assembly

On March 23rd, a new material company in Shandong initiated the first public participation notice for the environmental impact assessment of its 500-ton-per-year PPVE project (technical transformation). On March 19th, a public notice for the draft environmental impact assessment was released for its trifluoroacetyl fluoride deep processing pilot project. The project’s main components include the construction of one set of trifluoroacetyl fluoride deep processing pilot equipment, comprising one pilot production line for ethyl trifluoroacetate and one for carbonyl fluoride. The pilot scale is 500 tons per year for ethyl trifluoroacetate and 500 tons per year for carbonyl fluoride, with a maximum pilot period of two years.