On December 13, 2025, Tianneng Vietnam Factory Phase II project of Tianneng Group's Hoang Mai Base in Vietnam officially commenced operations, coinciding with the Asia-Pacific Partners Conference. The launch of this project marks a new stage in Tianneng's industrial layout in Vietnam and further solidifies the foundation for its global and regional collaborative development.

At a conference call on March 31, Sungrow stated regarding the company’s overall target plan for energy storage shipments in 2026 that the global market is expected to grow by 30–50 in 2026. With raw material prices rising, some projects were in a wait-and-see stage, but the demand should still exist and would only be deferred. The company will strive based on the upper end of market growth, hoping to achieve more than 60 Gwh.

On April 1, Wang Daoshu, Deputy Commissioner of the State Taxation Administration, said at a press conference held by the administration: the tax authorities had also achieved initial results in rectifying “circular invoicing” and “mutual invoicing.” China's data from the State Taxation Administration showed that from January 1 to March 25, invoicing amounts in the wholesale sector, where such enterprises were relatively concentrated, fell 2.6% YoY. Among them, invoicing amounts in the wholesale subsectors of coal and coal products, and metals and metal ore, declined 8.7% and 5.2% YoY, respectively.

[SMM Silicon-Based PV Morning Briefing] Silicon metal: The silicon metal market remained in a weak stalemate. Yesterday, SMM east China oxygen-blown #553 silicon was at 9,100-9,200 yuan/mt, down 50 yuan/mt from the previous day. Weaker expectations for production cuts on the supply side weighed on market sentiment. At the start of the week, futures prices trended weaker, and the center of spot transactions for some cargoes in the market edged lower. Cost support from the raw material side remained firm, and prices may fall back into stalemate. Polysilicon: N-type recharging polysilicon was quoted at 35.5-41.5 yuan/kg. Polysilicon prices have continued to decline recently, mainly affected by market sentiment and inventory exit the market among some leading enterprises. At present, low-priced polysilicon has already fallen below the cost line of some producers, and the sentiment to hold quotes firm has strengthened somewhat. Relevant meetings still need to be monitored going forward.

The 2026 Global Sodium-Ion Battery Industry Ecosystem Conference hosted by HiNa Battery was held in Jiangxia District, Wuhan. At the conference, HiNa Battery launched sodium-ion battery products covering application scenarios such as starter batteries, energy storage, and electric heavy-duty trucks, and simultaneously disclosed extreme-cold test data for sodium-ion battery heavy-duty trucks.

On March 27, the 2026 SMM (21st) Lead & Zinc Conference and Industry Expo, organized by SMM, wrapped up successfully at Howard Johnson Agile Plaza in Chengdu, Sichuan!

On 30 March, India is scheduled to participate in consultations with Argentina, Indonesia, and Oman at an upcoming steel industry conference to discuss raw materials including iron ore and coking coal, with a focus on fostering technical cooperation. Oman and Brazil remain India's primary sources of iron ore imports. For the fiscal year 2025/26, India’s iron ore imports are projected to reach between 12 and 14 million tones—its highest level in seven years—with approximately 70% sourced from Brazil and Oman.

►New Advances in Magnesium Materials and Processes ►Development and Application of New-Type Low-Cost, High-Strength, Corrosion-Resistant Magnesium Alloys ►Stainless Magnesium Technology: R&D Progress from Alloy Materials to Semi-Solid Processes, R&D and Application of Stainless Magnesium Alloys ►Hefei • Great “Magnesium” Chaohu — Building a First-Class Magnesium Industry Ecosystem in China ►R&D Progress and Current Industrialisation Status of Magnesium-Based Materials and Products at Baowu Magnesium ►Haitian Magnesium Alloy Injection Molding Technology and Market Outlook ►Magnesium from an International Perspective: The Transformation from a Cost-Driven Bulk Commodity to a Strategic Engineering Material ►: Focusing on the New Cycle of Supply and Demand for Magnesium Metal and Downstream Applications — Outlook for the Magnesium Market in 2026

SMM Morning Meeting Summary: Last Friday night, LME copper opened at $12,157.5/mt and dipped to $12,106/mt at the start of the session, then fluctuated upward to $12,246.5/mt. Later, the center of copper prices gradually moved lower and finally closed at $12,141/mt, up 0.17%, with trading volume at 15,500 lots and open interest at 295,000 lots, down 991 lots from the previous trading day. Last Friday night, the most-traded SHFE copper 2605 contract opened at 95,080 yuan/mt and touched a low of 95,040 yuan/mt at the start of the session, then the center of copper prices gradually moved higher to 95,880 yuan/mt. Later, it fluctuated downward and finally closed at 95,490 yuan/mt, down 0.22%, with trading volume at 42,900 lots and open interest at 185,500 lots, down 1,897 lots from the previous trading day, mainly due to long liquidation.

[SMM Aluminum Flash News] Valdis Dombrovskis, the European Commission’s Commissioner for Economic Affairs, said on the 27th that the EU economy was facing stagflation risks as the conflict in the Middle East had triggered a surge in energy prices. On the same day, the Eurogroup held an online meeting on energy prices. At a press conference held after the meeting, Dombrovskis said that “the outlook is clouded by a high degree of uncertainty,” and that the EU economy was facing stagflation risks, a situation in which economic growth slows down while inflation rises.