SMM, June 2 – According to an official announcement from Guangxi Nanguo Copper Co., Ltd., the company has today launched a competitive bidding sale for 5 metric tons of tellurium ingots (99.99% purity). The product specifications are as follows: Tellurium (Te): ≥99.99%; Total impurities: ≤0.01%. Packaging: wooden crates. The quoted price is the ex-works (factory gate, truck-loaded) price inclusive of tax (VAT rate: 13%), at the Guangxi Nanguo Copper Co., Ltd. facility. The company declined to disclose the specific starting bid price. The deadline for submissions is June 2, 2026.

On June 1, Wanrun New Energy issued an announcement stating that it plans to sign a supplementary agreement on asset repurchase with Hubei Shiyan Haoshuo New Energy Technology Co., Ltd. This agreement will adjust the repurchase period, amount, and payment method for assets related to its annual 100,000-ton battery cathode material project, aiming to optimize project financing costs through bank replacement financing. The asset delivery for this project was completed in May 2024. Based on a comprehensive evaluation conducted by Kunyuan Asset Appraisal Co., Ltd., the total value of the project's assets is approximately 1.076 billion yuan. As of now, Wanrun New Energy has paid 360 million yuan in repurchase investment, with an outstanding balance of approximately 716 million yuan.

On the evening of June 1, Tinci Materials issued an announcement stating that Jiujiang Tinci High-Tech Materials Co., Ltd. signed a supplemental procurement cooperation agreement with relevant entities of ChuNeng New Energy. The two parties initially reached a cooperation agreement and signed a production material procurement agreement in July 2025. Under that agreement, Jiujiang Tinci was to supply electrolyte products to the ChuNeng New Energy enterprise system, with an estimated total supply volume of no less than 550,000 tons. This supplemental agreement increases the estimated total supply of electrolyte during the agreement period to no less than 1,010,000 tons. The actual procurement quantity is subject to subsequent purchase orders between the two parties.

[SMM Analysis] Indian Steel Prices Continued to Weaken, Southeast Asian Procurement Sentiment Remained Cautious From the price spread model, billet/slab: Chinese resources expanded their advantage in the Indonesian market, with the price spread hitting a new monthly low. The inversion between China HRC (FOB) and core ex-China markets deteriorated across the board this week, with multiple indicators hitting historical or periodic highs mid-week, except for the China-India spread which rebounded. Chinese resources are expected to continue offering low FOB prices to Southeast Asia and the Middle East next week, and the price spread matrix is unlikely to narrow significantly in the short term. Meanwhile, considering the approaching EU new regulations, June will be a window period for intense price collapse between Indian and Chinese resources in non-EU markets (such as the Middle East and ASEAN). By sub-market, Indian HRC export prices continued to weaken last week, with suppliers lowering offers to stimulate demand amid an overall sluggish regional market. Vietnam remained the primary export destination for Indian SAE1006 HRC, with August shipment offers gradually declining from $580/mt CFR to $565–570/mt CFR. The price decline was still driven by persistently weak demand, intensified competition among exporters, and widespread market expectations of further regional price declines. According to market rumors, a 30,000 mt cargo of Indian HRC was transacted at $565–570/mt CFR Vietnam last week, below the latest market offer of $572/mt CFR quoted on Friday. However, overall transaction activity remained limited, with Vietnamese buyers mostly adopting a wait-and-see strategy, focusing on the upcoming new monthly HRC price announcements from Formosa Ha Tinh Steel Corporation and Hoa Phat Group before deciding on new procurement plans. Market participants noted that cautious downstream demand and expectations of continued price declines continued to suppress buyer restocking willingness. Overall, the demand environment facing Indian exporters remained challenging. Southeast Asian market: Affected by weak downstream demand and market expectations of further price declines, overall steel trading sentiment remained cautious, with procurement activity continuing to be suppressed. In Vietnam, domestic HRC prices showed a weakening trend due to sluggish new orders and traders maintaining low inventory management. Downstream buyers also mostly adopted a wait-and-see approach, on one hand waiting for local steel mills to announce new monthly offers, and on the other hand closely monitoring China steel futures price fluctuations. Meanwhile, Indonesian suppliers remained among the most competitive sellers in the region, offering HRC to Vietnam at approximately $585/mt CFR, continuing to exert pressure on regional prices. On June 1, Hoa Phat announced its latest price adjustment, lowering HRC offers by $13/mt. Following this announcement, local market transaction prices are expected to continue declining. Overall, seasonal demand weakness, ample market supply, and cautious procurement behavior will collectively keep trading activity in the Southeast Asian market subdued. Turkish market: Affected by the Eid al-Adha holiday, sheets & plates trading in the Middle East and Turkey largely stalled this week, with long and flat product prices remaining stable. By product, as July shipping quota is about to be readjusted, EU buyers' purchasing remained weak, and Turkey's HRC exports to the EU had been quiet since before the holiday. However, as current orders were relatively sufficient, Turkish steel mills were not in a hurry to lower prices to close deals before the quota announcement, but instead focused more on domestic sales. In the long product market, due to regional conflicts and geopolitical tensions in the Middle East causing continued logistics disruptions, China's rebar exports to the Middle East declined. Turkish suppliers successfully captured this market gap, with rebar exports rebounding significantly in April, and exports to Yemen, Africa, and parts of Europe also achieved notable growth. Copyright and Intellectual Property Statement: This report is independently created or compiled by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"), and SMM legally enjoys complete copyright and related intellectual property rights. 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1 Tender Conditions The bid inviter for this tender project, Ferrosilicon and Other Items (BG2026050123)/Low-Aluminum Ferrosilicon (BGBCGFHGZHD260601292403), is the Raw Material Procurement Department of the Procurement Center of Bensteel Sheets & Plates Co., Ltd. The project funds are self-raised. The project has met the tender conditions, and open tendering is now conducted. 2 Project Overview and Tender Scope 2.1 Project Name: Ferrosilicon and Other Items (BG2026050123)/Low-Aluminum Ferrosilicon 2.2 Alternative procurement methods upon tender failure: direct procurement, negotiated procurement 2.3 The tender content, scope, and scale of this project are detailed in the attachment "Material List Attachment.pdf". 3 Bidder Qualification Requirements 3.1 Joint venture bidding is not permitted in this tender. 3.2 This tender requires bidders to possess the following qualification requirements: (1) Business license for trading enterprises (2) Business license for manufacturing enterprises 3.3 This tender requires bidders to meet the following registered capital requirements: Registered capital for manufacturing enterprises: 10,000,000 yuan and above Registered capital for trading enterprises: 10,000,000 yuan and above 3.4 This tender requires bidders to possess the following performance requirements: See attachment 3.5 This tender requires bidders to possess the following capability requirements, financial requirements, and other requirements: Financial requirements: See attachment Capability requirements: See attachment Other requirements: Performance bond - See attachment 3.6 For projects subject to mandatory tendering by law, bids from persons subject to enforcement for breach of trust shall be invalid. 4 Obtaining Tender Documents 4.1 All parties interested in bidding are requested to log in to the Ansteel Smart Tender and Bid Platform at http://bid.ansteel.cn to download the electronic tender documents from 08:00 on June 2, 2026 to 08:00 on June 22, 2026 (Beijing time, the same hereinafter). Click to view tender details:

[SMM Tin Morning Brief: The Most-Traded SHFE Tin Contract Continued to Rally During the Night Session, Further Suppressing Spot Market Transactions]

SHFE issued an announcement that, in accordance with the relevant provisions of the Shanghai Futures Exchange Delivery Warehouse Management Measures and other related regulations, it decided upon deliberation to approve the expansion of the approved alumina futures warehouse capacity at the storage facility of Gansu Guotong Bulk Commodity Supply Chain Management Co., Ltd., located at No. 968, Shandanhe Street, Lanzhou New Area, Lanzhou City, Gansu Province, increasing it from the original 50,000 mt to 100,000 mt.

May 29, 2026 12:50 IST The Chicago Mercantile Exchange ( CME Group ) has again slashed its margin requirements on futures contracts of gold , silver , and other precious metals. This marks its second revision in two months. The announcement comes at a time when media reports suggest that the US and Iran might be nearing a material agreement to extend the ceasefire and reopen the crucial trade route- Strait of Hormuz . The CME filing dated May 28 stated that margins are being reduced as a part of normal review activity to ensure adequate collateral coverage. The new margin requirements will come into effect from May 29. Precious metal prices have taken a hit since the start of the West Asia conflict, which has stretched for three months now. Gold prices have fallen by nearly 15%, while silver prices have declined by over 19% since tensions in the Middle East began on February 28. What are the new margin requirements? The initial margin requirements for COMEX 100 gold futures have been lowered to 5% from the previous 6% for non-heightened risk profiles (HRP), and for heightened risk profiles, the new initial requirements now stand at 5.5%, down 100 basis points from the previous 6.6%. As for COMEX 5000 silver futures, the new initial requirements have been reduced to 10% from 11% for Non-HRPs, while for HRPs, the new initial requirement is 11%, down from the previous 12.1%. Last month as well, the CME Group had lowered margin requirements on futures contracts of gold and silver. Platinum and Palladium requirements lowered too For NYMEX Platinum futures, the new initial requirement has been decreased to 9% from the previous 11% for Non-HRPs, while HRPs have seen a sharper reduction as the new initial requirement stands at 9.9%, down from the previous 12.1%. As for NYMEX Palladium futures, the new initial requirement for Non-HRPs is 10%, cut from the previous 12%, and for HRPs, the requirement is 11%, down from the previous 13.2%. What are margin requirements? In futures trading, margin requirements essentially mean the minimum amount of capital a trader must pay to hold their position. These are often referred to as performance bond requirements by CME Group, which owns and operates the COMEX exchange. Margin requirements are set by exchanges to manage market volatility. Lower margins mean traders need less capital to maintain a contract. This is often aimed at increasing participation and improving liquidity. How are CME requirements related to MCX? CME and MCX margin requirements are set independently by the respective exchanges. However, a reduction in CME margins is likely to increase global liquidity and participation, which generally supports international market prices and provides a tailwind to MCX prices, as they closely track COMEX prices. Source： https://www.financialexpress.com/market/commodities-cme-slashes-gold-silver-margins-for-second-time-in-two-months-what-it-means-for-mcx-prices-4254126/

Yunnan Tin Co., Ltd. (hereinafter referred to as "Tin Co." or "the Company") held the third extraordinary meeting of the tenth session of the Board of Directors on May 29, 2026, at which the "Proposal on Participating in the Bidding for 100% Equity of Chifeng Dajingzi Tin Co., Ltd." was reviewed and approved. Chifeng Dajingzi Mining Co., Ltd. (hereinafter referred to as "Dajingzi Mining") publicly listed for transfer its 100% equity in Chifeng Dajingzi Tin Co., Ltd. (hereinafter referred to as "the Target Company") on the Beijing Equity Exchange (hereinafter referred to as "BJEE"). The Board of Directors approved the Company's participation in the bidding for 100% equity of the Target Company using its own funds.

STMicroelectronics, a major manufacturer of MCUs and power semiconductors, issued a "Price Adjustment Notification" to clients on May 28, announcing that it would raise prices on selected products effective June 28, 2026. This marked the company's second price increase announcement this year, following the one made on March 24. With only two months between the two announcements, STMicroelectronics' decision to raise prices again underscored the continued intensification of pressure on the cost side.