Recently, Shaanxi Jutai New Materials Technology Co., Ltd. announced that its 30,000 mt annual nickel plate production line located at the Zhoushan base in Zhejiang has entered the final commissioning phase and will officially commence production in March 2026. It is understood that the nickel plate project to be launched mainly produces high-purity electrodeposited nickel plates, which will be widely used in the manufacturing fields of alloys and electroplating.

Although the China-U.S. dialogue in London sent a signal of easing tensions in rare earth magnetic material trade, the current situation in the industry is still marked by a contraction in short-term orders and a strong wait-and-see sentiment in the market. In the long run, Chinese magnetic material enterprises are leveraging this momentum to accelerate their transformation towards high-end and green development, with technological breakthroughs and supply chain restructuring becoming key bargaining chips for restarting cooperation in the future.

This week, nickel prices showed a downward trend. In the spot market, the average price of SMM1# refined nickel fell from 123,900 yuan/mt at the beginning of the week to 121,500 yuan/mt, a decline of 1.9%. The premium for Jinchuan nickel remained in the range of 2,300-2,600 yuan/mt this week, showing no significant change compared to last week. Currently, downstream procurement is still mainly driven by immediate needs, with low enthusiasm for purchasing, resulting in generally average trading activity in the spot market. In the futures market, the most-traded SHFE nickel contract (NI2507) closed at 119,920 yuan/mt this week, down 1.82%, with prices once again falling below the key point of 120,000 yuan/mt. LME nickel prices fell more sharply than SHFE nickel prices this week, closing at $15,120/mt, down 2.39%. On the macro front, the US May non-farm payrolls data significantly exceeded expectations (with an increase of 272,000 jobs), coupled with the US Fed's June interest rate decision signaling a more "hawkish" stance, weakening expectations for US Fed interest rate cuts. The risk of escalating trade tariffs has intensified, with the US announcing the imposition of additional tariffs on steel home appliances (such as washing machines and refrigerators) starting from June 23, impacting nickel end-use demand in sectors like stainless steel and electroplating. The geopolitical conflict in the Middle East has sharply escalated, driving up crude oil and gold prices, prompting a shift towards safe-haven assets and accelerating the decline in nickel prices. In terms of inventory, the inventory in the Shanghai Bonded Zone was approximately 5,000 mt this week, unchanged WoW. Domestic social inventory was approximately 39,400 mt, with an inventory buildup of about 8 mt WoW, maintaining a stable inventory situation. This week, the nickel market broke below key levels under the dual impact of macroeconomic pressures and fundamental supply surpluses. In the absence of unexpected demand improvements or significant supply-side contractions, nickel prices are unlikely to break out of the current doldrums, with downside risks still present. It is expected that in the short term, the bottom of the nickel price range will be around 115,000 yuan, while the top will face pressure at 123,000 yuan.

Four years ago, Central China Copper Co., Ltd., a subsidiary of China Copper Co., Ltd. (hereinafter referred to as "Central China Copper"), successfully developed 6e-06-meter rolled copper foil, setting a new record for the thinnest rolled copper foil in China. Four years later, at the electronica China in Munich, the company launched red-coated and black-coated foils with high flexibility and corrosion resistance, becoming one of the highlights of the exhibition. From thick copper strips to copper foils as thin as cicada wings, and from ordinary bare foils to high-end red-coated and black-coated foils, Central China Copper has carved out a unique path in product transformation and upgrading. From 2021 to 2024, the company's copper foil production and sales exceeded 2,000 mt for four consecutive years, and its copper foil business achieved profitability for five consecutive years. Applying "Lipstick" on "Cicada Wings" "Applying a uniform red coating on the surface of copper foil is like applying lipstick to a delicate cicada wing. Any slight misstep can result in color variations or peeling." Li Haifeng, a technician specializing in surface treatment, still vividly recalls the technical challenges faced during the initial trial production of red-coated foil. In early 2020, while maintaining stable production of qualified bare foil, Central China Copper set its sights on high-value-added treated foils and began attempting to produce red-coated foil. During the initial trial production, issues such as frequent red spots, color variations, and inadequate oxidation resistance during the electroplating process led to a scrap rate of over 50%. Watching dozens of tons of foil material turn into "colorful" scrap in the plating tanks, the technicians felt both heartache and helplessness. To overcome these challenges, the company's technical team members camped out by the production line day and night for several consecutive weeks. Their hard work paid off, as they finally identified the root cause of the problem: the instability of the electroplating solution formula and significant temperature fluctuations. They redesigned the electroplating solution formula, added new-type additives to control fluctuations in metal ion concentration, installed an online high-precision real-time temperature monitoring system to enable real-time regulation of the electroplating solution, and innovated the "layer-by-layer current method" process to achieve denser and more uniform crystallization of the red coating. In May 2020, Central China Copper shipped its first batch of 10 mt of red-coated foil to domestic customers, and the product quality received customer recognition. As one of the earliest companies in China to successfully develop red-coated foil, Central China Copper, after years of technological accumulation, now boasts product stability that far surpasses that of its peers. Its red-coated foil has become a sought-after product in the market, firmly occupying one-third of the market share and successfully entering the supply chain systems of top-tier enterprises in China's electronics industry. Finding Light in the Darkness of Black Foil With the consumer electronics industry moving towards lighter, thinner, and more flexible designs, the new energy sector entering a rapid development phase, and AI being widely applied across various industries, the market demand for black-coated foil has surged exponentially. Central China Copper Industry closely followed market changes and initiated R&D efforts for blackened foil in 2022. If the R&D of red-coated foil could be described as a "tough battle mode," then the R&D of blackened foil was a "peak performance mode," requiring not only uniform coverage of the blackened layer but also ensuring that it would not peel off or oxidize during subsequent processing. As the production technology for blackened foil had long been monopolized by Japanese companies, the R&D team of Central China Copper Industry had no process flows or technical parameters to refer to. At the beginning of trial production, the blackened foil produced frequently had issues such as color differences in the coating, oxidation spots on the shiny surface, and insufficient adhesion leading to powder shedding. "At that time, it was like being trapped in an endless darkness, with no light in sight," sighed Qiao Yafeng, the head of the R&D team. To break the deadlock as soon as possible, Central China Copper Industry collaborated with the University of Shanghai for Science and Technology and Chalco Academy on industry-university-research cooperation, with the latter providing experimental data support, while the R&D team of Central China Copper Industry was responsible for industrial transformation and verification. However, reality once again poured cold water on everyone. The blackened foil samples trial-produced in the laboratory had excellent indicators, but various issues arose after transferring to the production line. Qiao Yafeng led the team to re-examine over 100 sets of production process data and verify them one by one. After thousands of tests and continuous efforts over hundreds of days and nights, they finally saw the "dawn" of victory. In April 2023, Central China Copper Industry successfully trial-produced blackened foil on its production line, achieving a key leap from laboratory to mass production; in June 2023, the first batch of blackened foil officially passed domestic customer certification; in 2024, small-batch deliveries of blackened foil were made, with positive customer feedback. Capacity Expansion Opens Up New Growth Poles In May, the project construction of Central China Copper Industry entered a "golden period," with the company's new copper foil surface treatment unit project accelerating and scheduled for equipment installation in October and commissioning and production before the end of the year. As a key investment project for Central China Copper Industry in 2025, this project is of great significance for adjusting the product structure of copper foil and forming new profit growth points. Differentiated development of special copper foil products such as red-coated foil, blackened foil, and alloy foil to achieve import substitution of high-end products is the future development direction of Central China Copper Industry's copper foil products. Currently, constrained by the treatment line, the company's production capacity for high value-added treated foil is severely limited, making the addition of a new copper foil surface treatment unit imperative. The new copper foil surface treatment unit adopts domestically leading production processes and equipment, capable of producing high-quality, high-performance red-coated foil, blackened foil, and alloy foil. The intelligent design of this unit not only improves production efficiency but also ensures product stability and consistency. In addition, Central China Copper prioritizes environmental protection and sustainable development. The project has introduced a new zero-liquid-discharge wastewater system to achieve green production. The completion and commissioning of the new copper foil surface treatment unit will bring significant economic benefits to Central China Copper, with the annual capacity of high value-added copper foil expected to increase by over 40%. Qiao Yafeng stated, "The construction of the new copper foil surface treatment unit is an important step for Central China Copper to deepen its strategic layout in the copper foil product sector. We will take this as an opportunity to further optimize the product structure of copper foil, enhance our core market competitiveness, and position the company as a leading enterprise in the copper foil industry." "Leading development with 'strip' and securing the future with 'foil'." Moving forward, Central China Copper will continue to delve deeper into the copper foil sector, continuously improving product quality and service levels, and propelling the company towards the high-end of the copper processing industry chain. We will strive unremittingly to build a national high-end copper-based new material base and contribute to the construction of a "new Chalco" with exceptional material capabilities.

As a critical material in fields such as aerospace, integrated circuits, and high-speed rail transportation, high-end copper alloys have increasingly prominent strategic significance. Despite China's copper semis production and consumption ranking first globally for consecutive years, with a self-sufficiency rate of 96% for general copper semis, high-end copper alloy products still heavily rely on imports. To address this "chokepoint" challenge, SMM recently launched an initiative for industrial resource integration. Collaborating with upstream and downstream enterprises in the industry chain, as well as research institutions, it meticulously compiled the "2026 China Copper Alloy Materials Sourcing Guide" , aiming to advance the localisation process of high-end copper alloy materials and facilitate the transition from a "major material producer" to a "leading material powerhouse." Jiangsu Xingcheng New Materials Co., Ltd. actively participated in the joint compilation of the sourcing guide as a partner, jointly promoting the healthy and rapid upgrading of China's copper alloy materials industry chain. Jiangsu Xingcheng New Materials Co., Ltd. , located in Xinghua City, Jiangsu Province, renowned as the "Land of Fish and Rice," is a private technology enterprise integrating the R&D, production, processing, and sales of alloy products. It has been recognized as a high-tech enterprise and a specialized, sophisticated, unique, and innovative enterprise. Situated in the Diduozhen Industrial Concentration Zone, the company has a registered capital of 58 million yuan, a factory area spanning over 20,000 m², and a total investment of several hundred million yuan. It produces 10,000 mt of various high-precision copper alloy materials annually. Currently, it employs over a hundred staff members, with technical and managerial personnel accounting for approximately 30% of the workforce. Over the years, the company has consistently adhered to the principle of "pursuing development through technology and survival through quality," continuously optimizing its products. Simultaneously, it emphasizes the recruitment and nurturing of various professional and technical talents, establishing a high-caliber R&D team. It increases investment in training to enhance employee quality and adopts modern management concepts to provide the driving force for the company's development. The company strictly adheres to the ISO9001 quality management standard and upholds the quality policy of "building Xingcheng with quality and achieving the future with innovation." In its future development, it will continue to provide superior products to domestic and foreign customers with an honest and pragmatic approach. The company is a professional enterprise primarily engaged in the R&D and production of copper-based alloy materials, boasting a professional technical service team. It has been successively recognized as a national high-tech enterprise, a national-level technology-based small and medium-sized enterprise, a provincial specialized, sophisticated, unique, and innovative small giant enterprise, a provincial enterprise technology center, and a provincial private technology enterprise, among others. It offers high-quality materials and after-sales services to customers. Main products: copper strip, copper foil, copper plate, copper billet, copper wire, etc. The company maintains a substantial inventory throughout the year, providing high-precision slitting, film coating, electroplating, and other services. It possesses various precision detection instruments, and its production standards comply with technical standards such as European, Japanese, and American standards. Main equipment: melting furnace, milling machine, annealing furnace, cold rolling mill, slitting machine, laminating machine, etc.; equipment for quality detection: microhardness tester, high-temperature test chamber, conductivity meter, surface roughness tester, salt spray test chamber, tensile elongation machine, direct-reading spectrometer, etc. Product Introduction Cultural Philosophy Contact Information Wang Minglong 138 0142 3955 Click here to get the "2026 China Copper Alloy Material Procurement Guide" for free SMM Contact Person Huang Yizhe 139 5899 2666 huangyizhe@smm.cn

SMM News on May 28: In the early summer, all things thrive! As the May breeze sweeps across the land of central China, carrying with it the fragrance of wheat waves and the lushness of vegetation, Luohe Yuanheng New Materials Co., Ltd. held a grand commissioning ceremony in this vibrant season. On May 28, the atmosphere at the commissioning ceremony site was lively, with a gathering of distinguished guests, all coming together to witness this significant moment. On the occasion of the successful commissioning ceremony of Luohe Yuanheng New Materials Co., Ltd., SMM Information & Technology Co., Ltd. (SMM) extends its sincere congratulations to Luohe Yuanheng New Materials Co., Ltd. We hope that the company will take the commissioning as a new starting point, continuously making breakthroughs in technological innovation, capacity release, and market expansion, injecting more vitality and momentum into the high-quality development of the new materials industry! Introduction to Luohe Yuanheng New Materials Co., Ltd. Company Profile Luohe Yuanheng New Materials Co., Ltd., established on August 8, 2024, with a registered capital of 50 million yuan, is a comprehensive enterprise focusing on the R&D, production, sales, and related technical services of new materials. Project Overview The company has a total investment of 50 million yuan and a building area of 6,690 m². The company places great emphasis on technological R&D and innovation, having assembled a high-caliber R&D team, equipped with internationally leading production equipment and detection instruments. It strictly adheres to advanced industry production processes and quality standards, implementing key projects such as "annual production of 100,000 mt of copper-based new materials." Development Plan Park Synergy and Industry Chain Extension : Firstly, relying on the professional copper distribution park in Linying County, the company actively integrates into the park's industrial ecosystem, strengthens collaborative cooperation with upstream and downstream enterprises within the park, extends the new materials industry chain, and enhances the company's influence and competitiveness within the industry. Technological Innovation and Product Upgrades : Secondly, the company will continue to increase R&D investment, establish close industry-university-research cooperation with well-known domestic universities and research institutions, focus on cutting-edge technologies in the field of new materials, continuously promote product upgrades and replacements, improve product performance and added value, and expand the high-end new materials market. Strategic Goals and Development Path : Thirdly, with the strategic goal of "becoming a leading new materials supplier and technology service provider in China," the company adheres to the business philosophy of "innovation-driven, quality-led, and green development." On one hand, it will strengthen internal management, optimize production processes, and improve production efficiency and product quality; on the other hand, it will actively expand the market, strengthen brand building, and achieve rapid corporate development. It is expected that by the end of 2025, the company's annual output value will reach 3.5 billion yuan, and its annual tax payment will reach 320 million yuan. Product Introduction of Luohe Yuanheng New Material Co., Ltd. Main Products The company mainly produces bright low-oxygen and oxygen-free copper rods, anode plates, etc. Among them, bright low-oxygen and oxygen-free copper rods are mainly used in fields such as wire and cable, electronic components, communication cables, rail transit, and new energy; anode plates are mainly used as raw materials for the production of copper cathode {{note: do not translate as electrolytic copper}}. Low-oxygen Copper Rod The oxygen content of low-oxygen copper rods is relatively low, usually below 200ppm. This gives them better electrical conductivity than ordinary copper materials, while also providing a certain level of strength and toughness. Anode Plate Anode plates, as key components in electrochemical systems, play an indispensable role in many industries. Their main function is to serve as the electrode where oxidation reactions occur during electrochemical processes such as electrolysis, electroplating, and battery operations, providing an electron conduction path for the system. SMM Contact Person: Haiyang Li Phone: 16601900091 Email: lihaiyang@smm.cn

On May 16, at the 2025 SMM (6th) Silver Industry Chain Innovation Conference , hosted by SMM Information & Technology Co., Ltd. (SMM), co-organized by Ningbo Haoshun Precious Metals Co., Ltd. and Quanda New Materials (Ningbo) Co., Ltd., and supported by sponsors including Fujian Zijin Precious Metals Materials Co., Ltd., Huizhou Yian Precious Metals Co., Ltd., Jiangsu Jiangshan Pharmaceutical Co., Ltd., Zhengzhou Jinquan Mining and Metallurgical Equipment Co., Ltd., Hunan Shengyin New Materials Co., Ltd., Zhejiang Weida Precious Metals Powder Materials Co., Ltd., Guangxi Zhongma Zhonglianjin Cross-border E-commerce Co., Ltd., Suzhou Xinghan New Materials Technology Co., Ltd., Yongxing Zhongsheng Environmental Protection Technology Co., Ltd., IKOI S.p.A., Hunan Zhengming Environmental Protection Co., Ltd., Kunshan Hongfutai Environmental Protection Technology Co., Ltd., and Shandong Humon Smelting Co., Ltd., Wu Chao, the Executive Director/Director of the Silver Compounds and Materials Preparation Laboratory at the Nanyang Silver New Materials Engineering Technology Research Center/Tongbai Hongxin New Materials Co., Ltd., shared insights on the theme of "Current Status and Development Trends of China's Silver Nitrate Industry Technology Market." 1. Overview of the Silver Nitrate Industry Basic Properties of Silver Nitrate ► Characteristics and Functions of Silver Nitrate Appearance: Silver nitrate appears as colorless, transparent orthorhombic crystals or white crystals, with unique physical characteristics. Strong Oxidizing Properties: Silver nitrate is a strong oxidizing agent, exhibiting significant oxidizing capabilities in chemical reactions. Solubility: Silver nitrate is highly soluble in water and alkalis, slightly soluble in C₂H₅OC₂H₅. Its solubility characteristics influence its range of applications. Major Application Areas of Silver Nitrate PV Applications: The importance of silver powder in PV silver paste is undeniable, with over 95% of the world's PV silver powder produced using the liquid-phase reduction method with silver nitrate as the raw material. Electronics Applications: Used in various components and electrical contact materials in the microelectronics industry, as well as a common reagent in analytical chemistry. Catalysts: In domestic petrochemical enterprises, thousands of tons of silver catalysts are used annually. Pharmaceutical Industry: Used as anti-inflammatory and corrosive agents, such as burn ointments and medical disinfectant gauzes. Environmental Protection and Resource Recovery: Removes chloride ions from wastewater (forming silver chloride precipitate) or acts as a precipitant for heavy metal ions (such as sulphides); silver recovery technologies for silicon wafer cutting wastewater and electroplating wastewater in the PV industry (e.g., ion exchange, electrolysis). Chemical and Analytical Detection: Serves as a precursor for preparing other silver compounds (e.g., silver ammonium nitrate, silver oxide) and silver nanomaterials (e.g., silver nanoparticles, nanowires). Photographic Materials: Over 50% of the world's silver is used in manufacturing photographic materials. Silver salts, with silver nitrate as the base material, form the photosensitive layer in photographic materials. Mirror Manufacturing: Silver-coated glass has excellent reflectivity, with the best mirrors currently made using silver, with silver nitrate as the base material. 2. Current Status of the Technology Market Current Status of Production Processes Characteristics of Traditional Processes: Traditional silver nitrate production processes are relatively simple to operate and require less sophisticated equipment. However, they suffer from low production efficiency, high energy consumption, and limited product purity. For example, using simple dissolution and evaporation processes results in long production cycles and incomplete removal of impurities. Difficulties in Capacity Expansion: Capacity expansion is constrained by multiple factors, with aging equipment and outdated processes being the main reasons. Existing production lines are difficult to expand on a large scale, and intelligent upgrades are challenging. The high cost and long cycle of building new production lines make it difficult for most enterprises to meet the rapidly growing market demand. Directions for Process Improvement: Process improvement focuses on enhancing production efficiency and product quality while reducing energy consumption and environmental pollution. This can be achieved by introducing automated control systems to precisely control reaction conditions and developing new catalysts to optimize reaction pathways, thereby achieving green and efficient production. Current Status of Quality Control Quality Standard System: China has established a relatively comprehensive quality standard system for silver nitrate, specifying indicators such as purity and impurity content. For example, national standards set clear limits for silver content, chloride, sulfate, and other impurities in different grades of silver nitrate to ensure stable product quality. Detection Technologies: Various technologies are used to detect the quality of silver nitrate, including chemical analysis and spectroscopic analysis. Chemical analysis can accurately determine silver and impurity content, while spectroscopic analysis can quickly and sensitively detect trace impurities, providing a reliable basis for quality control. Quality Improvement Measures: Quality improvement measures include optimizing production processes, strengthening raw material quality control, and improving detection procedures. Strictly screening raw materials to reduce impurity introduction, strengthening monitoring during production to adjust process parameters in a timely manner, and increasing detection frequency and items to ensure products meet high standards. Current Status and Analysis of Patent Applications From 2023 to 2024, patent applications in the silver nitrate field exhibited characteristics of "preparation process dominance, accelerated environmental protection technology, and rising equipment innovation." Optimization of preparation processes and equipment dominated, while environmental protection technology became a competitive focus. Future technological breakthroughs may further concentrate on high-purity production, green synthesis, and new energy applications. Current Major Silver Nitrate Standards in China Chemical Reagent Silver Nitrate Standard: The chemical reagent silver nitrate standard GB/T 670-2007 specifies multiple indicators, including content, appearance, and pH value. For example, it has clear provisions for clarity, chloride, sulfate, and other impurities, providing detailed criteria for quality control of chemical reagent silver nitrate. Industrial Silver Nitrate Standard: The industrial silver nitrate standard GB/T 44758-2024 classifies quality into three grades: first, second, and third. In addition to common indicators such as content and appearance, it also specifies requirements for silver ammonia solution reactions and various impurities such as Cu and Fe to ensure industrial application quality. It will be officially implemented on May 1, 2025. Photographic Silver Nitrate Standard: The photographic silver nitrate standard YS/T 476-2002 is formulated based on the special needs of the photographic industry for silver nitrate. It has specific requirements for content and impurities to meet the strict quality standards of photographic silver nitrate for photographic materials. Market Competition Pressures Supply and Demand Analysis of China's Silver Nitrate Market: China's silver nitrate market entered an investment peak period starting in 2023, with the capacity of 16 key silver nitrate planning projects included in statistics reaching 52,200 mt from 2023 to 2025. Although the market demand for silver nitrate continues to grow, it lags far behind the pace of capacity expansion, leading to increasingly significant overcapacity issues and intensifying competition among enterprises. Significant price fluctuation risks for silver, with an amplitude of ±34% in the past three years. In particular, silver prices have remained high in recent years, leading to a sharp increase in costs and seriously affecting the stability of corporate profits. To avoid risks, enterprises have to be cautious in reinvesting and controlling costs, indirectly affecting R&D progress and delaying technological updates. 3. Development Trends Outlook Demand Analysis in Application Areas With the continuous implementation of new energy policies and the decline in the levelized cost of electricity (LCOE) for PV in countries worldwide, the global PV market continues to expand, and new PV installations continue to increase, driving up the demand for silver nitrate in the solar cell sector. In 2024, the proportion of silver nitrate used in global PV silver paste has already Accounting for 34% of the total production, China, as the world's largest producer of PV modules, contributed 62% of the procurement volume. This proportion is expected to rise from 34% to 45% by 2030. New Energy Penetration Increase: The technological penetration rate of new energy batteries is projected to increase from 12% in 2025 to 28% in 2030. The primary driving force behind this growth is the sharp increase in demand for materials in the battery industry, which will become a major driver for the growth in silver nitrate market demand. Electronics Industry Process Upgrade: In the electronics industry, the upgrade of silver-plating processes for communication devices in 5G base stations and the rapid growth of the AI industry have led to a surge in demand for high-purity silver nitrate. This drives the development of silver nitrate for electronic applications towards higher quality and more advanced technologies. Breakthroughs in Biomedicine: In the biomedical field, due to breakthroughs in antibacterial coating technology, the penetration rate of silver nitrate solutions in antibacterial coating-related products is expected to increase from 18% in 2024 to 35% in 2030. This will drive the average annual growth rate of the market size for pharmaceutical-grade silver nitrate to reach 12.2%. Market-Driven Technological Advancements 1. Green and Environmentally Friendly Technologies: Membrane separation technology is widely applied in silver nitrate production, with nanofiltration membranes removing macromolecular impurities and ion exchange membranes enabling silver ion recovery. New-type enterprises have adopted these technologies on a large scale, reducing silver ion emissions in wastewater from 0.05 mg/L to 0.01 mg/L and achieving a wastewater reuse rate of 85%. 2. Intelligent Production Technologies: Microreactor technology offers significant advantages, utilizing continuous flow reactions with precise temperature control (±1℃). This reduces reaction time from 6 hours to 45 minutes and increases the capacity utilisation rate to 85%. It also reduces energy consumption by 30%, limits impurity residues to ≤5 ppm, and achieves a silver recovery rate of 98.5%. 3. High-Performance Product Technologies: Continuous crystallization processes are becoming increasingly popular, employing multi-stage low-temperature vacuum crystallization (-10℃~5℃) to increase single-line capacity by 40%. This process enhances purity from 99.5% to 99.99% and reduces unit energy consumption and production costs. Industrial Policy Constraints and Opportunities Environmental Protection Policy Orientation: Environmental protection policy orientation encourages silver nitrate enterprises to adopt green production processes, reduce pollutant emissions, and improve resource utilization. For instance, in recent years, environmental protection authorities have mandated that enterprises meet heavy metal content standards in wastewater discharge, prompting enterprises to improve their production processes. Related investments in technological transformation have increased average costs for small enterprises by approximately 15%. Policy Support Opportunities Policy support opportunities provide a boost to the development of the silver nitrate industry. The government offers tax incentives, financial support, and other policies to environmentally friendly and high-tech enterprises, providing strong guarantees for the development of the silver nitrate industry. Safety Policy Requirements Safety policy requirements are becoming increasingly stringent, covering aspects such as product quality and production safety. Enterprises need to establish a comprehensive quality management system and a safe production system to ensure that products meet national standards. For example, the issue of dedicated vehicle transportation for silver nitrate products has increased production costs by 5-10%. Finally, it introduced the general situation of Tongbai Hongxin New Materials Co., Ltd., its work in standard formulation, market advantages, and the development of Hongxin New Materials' silver nitrate. 》Click to view the special report on the 2025 SMM (6th) Silver Industry Chain Innovation Conference

On May 16, at the 2025 SMM (6th) Silver Industry Chain Innovation Conference , hosted by SMM Information & Technology Co., Ltd. (SMM), co-organized by Ningbo Haoshun Precious Metals Co., Ltd. and Quanda New Materials (Ningbo) Co., Ltd., and strongly supported by sponsor organizations including Fujian Zijin Precious Metals Materials Co., Ltd., Huizhou Yian Precious Metals Co., Ltd., Jiangsu Jiangshan Pharmaceutical Co., Ltd., Zhengzhou Jinquan Mining and Metallurgy Equipment Co., Ltd., Hunan Shengyin New Materials Co., Ltd., Zhejiang Weida Precious Metals Powder Materials Co., Ltd., Guangxi Zhongma Zhonglianjin Cross-border E-commerce Co., Ltd., Suzhou Xinghan New Materials Technology Co., Ltd., Yongxing Zhongsheng Environmental Protection Technology Co., Ltd., IKOI S.p.A, Hunan Zhengming Environmental Protection Co., Ltd., Kunshan Hongfutai Environmental Protection Technology Co., Ltd., and Shandong Humon Smelting Co., Ltd., Ding Gangqiang, Deputy Chief Engineer and Researcher at CSSC Huanggang Precious Metals Co., Ltd., discussed the topic of "Current Status and Prospects of Silver Applications in the Photovoltaic Industry." 1. Background Overview ► Photovoltaic Industry Chain: ► Applications of Silver in the Photovoltaic Industry: ► Structural Diagram of Solar Cells: In addition, he shared the technology roadmap for crystalline silicon solar cells. 2. Analysis of the Current Status of Silver Applications in the Photovoltaic Industry ► Current Status Analysis • Silver Nitrate: Silver nitrate is an important product of deep processing of silver and serves as a raw material for many other deep-processed products. It is mainly used in fields such as photovoltaics, electronics, petrochemicals, mirror manufacturing, pharmaceuticals, and photography. • PV Silver Powder: The requirements for PV silver powder include high sphericity, high dispersibility, narrow particle size distribution, high tap density, and surface roughness, which enable the paste products to achieve good photoelectric conversion efficiency and stable electrical performance. • PV Silver Paste: PV Silver Powder: The size of silver powder particles affects the contact resistance and open-circuit voltage, as well as the resistivity of the silver grid lines. Glass Frit: Glass frit serves to etch the silicon nitride layer. The type of glass frit affects the performance of the front-side silver paste, thereby influencing the photoelectric conversion efficiency of solar cells. Organic Vehicle: The organic vehicle acts as a carrier for the ultrafine silver powder and glass frit, providing a dispersing effect, which in turn affects the processability of screen printing. • Silver Paste Consumption in Crystalline Silicon Solar Cells: With advancements in various electrode and printing manufacturing technologies, the silver consumption per unit for mainstream cell types such as PERC, TOPCon, and HJT has been decreasing year by year. • Laser-Enhanced Contact Optimization (LECO) decouples passivation damage and ohmic contact, enhancing cell metallization. The core principle of laser-assisted sintering technology lies in leveraging the high energy concentration and controllability of lasers to separate the two steps of passivation layer erosion and ohmic contact formation during the high-temperature sintering process, thereby achieving efficient and precise control over the sintering process. • Silver-coated copper paste: PV companies are actively exploring electrode technologies that utilize base metals such as copper to replace silver, primarily divided into silver-coated copper paste combined with screen-printing technology and copper electroplating technology. The silver-coated copper powder technology reduces silver usage by coating silver onto the surface of copper powder. By adjusting the ratio of silver to copper, it ensures conversion efficiency while lowering the cost of silver paste. Silver-coated copper powder: Contains 15% silver. • Silver recovery from PV modules: According to forecasts by the Zero Carbon Research Institute, by 2030, the cumulative amount of discarded PV modules in China is expected to reach around 18GW, approximately 1.5 million mt, with an output value of about 6.1 billion yuan. By 2050, the cumulative amount of discarded PV modules is projected to reach 253GW, approximately 20 million mt, with an output value of 90 billion yuan. • Circular economy of PV modules 3. Analysis of the current market situation and development prospects of silver in the PV industry ► Market Analysis • Global and Chinese new PV installations The global market demand for PV power generation is expected to improve, with major countries such as the US, Europe, and India experiencing stable growth in demand for PV power generation. Emerging countries in the Middle East, Africa, and Latin America are anticipated to see steady growth in demand for PV modules due to declining levelized costs of electricity (LCOE) from PV, urgent power shortages, and strong government support for renewable energy transitions, driving global demand growth. • Demand for PV silver paste and PV silver powder: The market size for PV silver paste is expected to continue growing in the coming years. In 2024, the demand for PV silver powder is estimated to be around 7,217 mt, with a corresponding market size exceeding 40 billion yuan. • Production statistics of silver nitrate in China Statistics show that the production of silver nitrate in China has been increasing year by year, with an annual growth rate exceeding 20%. Major domestic silver nitrate producers: CSSC Huanggang Precious Metals Co., Ltd., Tongbai Hongxin New Materials Co., Ltd., Lanzhou Jinchuan Science and Technology Industrial Park Co., Ltd., Xilong Scientific Co., Ltd., Zhejiang Hongda New Materials Development Co., Ltd., etc. • Production statistics of silver nitrate in China from 2022 to 2024 It introduces the monthly production statistics of SMM silver nitrate in China from 2022 to 2024. • Proportion of silver demand in China by sector It elaborates on the breakdown of silver applications in the industrial sector and the distribution of China's silver consumption structure in 2024. • Production of major silver nitrate producers in China It introduces the production proportion of major silver nitrate producers in China. It also elaborated on other major domestic silver nitrate enterprises, including Quanda New Materials (Ningbo) Co., Ltd., Guangdong Vital New Materials Co., Ltd., Fujian Fuxuan Technology Co., Ltd., Hunan CNGR New Silver Materials Technology Co., Ltd., and Changzhou Guoyu Environmental Protection Technology Co., Ltd. Finally, it introduced the development history and main industries of CSSC Huanggang Precious Metals Co., Ltd. 》Click to view the special report on the 2025 SMM (6th) Silver Industry Chain Innovation Conference

On April 22, at the CCIE 2025 SMM (20th) Copper Industry Conference & Copper Industry Expo – Copper Pipe and Billet Processing Industry Development Forum, Lao Xicai, General Manager of Guangdong Weiqiang Copper Technology Co., Ltd., shared insights on the impact of the metallurgical quality of brass ingots and brass bars on the microstructure and properties of sanitary ware products.

【Price Review of Refined Nickel During the Labour Day Holiday: Price Fluctuations Dominated by Macroeconomic Factors】During the Labour Day holiday, LME nickel prices followed a trend of weakening first and then strengthening: The closing price of LME nickel on April 30 was $15,330/mt, followed by a slight drop in price on May 1. However, on May 2, LME nickel prices rebounded significantly, with the intraday price surging to a high of $15,630/mt, and finally closing at $15,430/mt, representing a 1.31% increase.