The Longwan Branch of the Wenzhou Municipal Bureau of Ecology and Environment officially accepted the Environmental Impact Assessment (EIA) for Zhejiang Zhentian Machinery Co., Ltd.'s relocation and expansion project. The project aims to add an annual capacity of 150 units of new high-end sanitary-grade stainless steel containers. This expansion reflects the company's strategic push to scale up production for the food and pharmaceutical industries, where demand for high-standard stainless equipment remains robust.

The European Emissions Trading System (ETS) is under significant pressure from member states due to sharply rising energy costs driven by the tightening supply of certificates, with prices tripling from around €25/t CO2 in 2019 to approximately €75/t in 2025. With the ETS scheduled for a major revision by July 2026, several EU countries led by Italy recently called for the review process to be suspended. Last week, Polish President Karol Nawrocki went a step further, urging his government to advocate for the complete abolition of the ETS to prevent further industrial relocation outside the EU. Industry experts note that any modification, suspension, or national exemption of the ETS would have immediate and direct consequences for the Carbon Border Adjustment Mechanism (CBAM).

After the Chinese New Year, the PV power generation project in the relocation resettlement area of Gaoluo Subdistrict, Ceheng County, Guizhou Province, quickly resumed work and production, carrying out final engineering work such as ground clearing and cable trench restoration, as well as grid connection commissioning. The project has a total installed capacity of 3,200 kW, with annual power generation expected to exceed 1.13 million kWh and annual output value of about 390,000 yuan. It will also provide 450 parking spaces in carports, and part of the revenue will be used for community management and to strengthen the collective village economy.

Here is the professional English translation of the provided information: On February 24, State Grid Eastern Inner Mongolia Electric Power Co., Ltd. released the Pre-approval Publicity for the Environmental Impact Assessment Report of the "Two Points and Three Channels" Project for Extending the North China UHV Grid to Mengxi (Dalad–Mengxi 1000kV AC Transmission and Transformation Project). Project Scope: (1) Construction of the new Dalad 1000kV Substation; (2) Expansion of the Mengxi 1000kV Substation; (3) Construction of the new Dalad–Mengxi 1000kV Transmission Line; (4) Temporary relocation of the Chuanzhang–Ningge’er 500kV Transmission Line. Location: Dalad Banner and Jungar Banner, Ordos City, Inner Mongolia Autonomous Region. Total Investment: CNY 42,948.1 million

On February 25, the relocation and commencement ceremony for the new plant of Ganfeng Lithium Industry's Dongguan Base was grandly held at the Machong base factory area.

September 12 SMM News: According to market rumors, Jilang Indium Co., Ltd. of Nandan County recently sold approximately 1,000 kilograms of crude indium ingots with a purity of ≥99.00%, complying with the YS/T 1163-2016 "Crude Indium" standard. Market sources reported that the transaction was successfully completed, with a final成交价格 of around 2,440 yuan per kilogram. Industry participants noted that this price is relatively high, reflecting the ongoing tight supply of indium raw materials in the market, which has not seen significant alleviation. Many crude indium producers are reluctant to sell at lower prices, contributing to the firmness in crude indium prices. One manufacturer mentioned that recent factory relocation and the temporary suspension of target recycling production lines have somewhat impacted the recycling of indium raw materials.

The record of investor relations activities of Yunnan Copper from June 11 to June 13, 2025, recently released by Yunnan Copper, shows: Regarding the company's basic information, Yunnan Copper introduced: Yunnan Copper was listed on the Shenzhen Stock Exchange in 1998. Its main businesses cover copper exploration, mining, beneficiation, smelting, extraction and processing of precious metals and minor metals, sulfur chemical industry, and trade. It is an important production site for copper, gold, silver, and sulfur chemicals in China. Among them, the capacity for copper cathode is 1.4 million mt. The company is the only publicly listed firm in the copper industry of Chalco and China Copper. In Q1 2025, the company produced 348,900 mt of copper cathode, up 48.15% YoY; 5.80 mt of gold, up 95.63% YoY; 128.48 mt of silver, up 54.31% YoY; 1.3872 million mt of sulphuric acid, up 23.61% YoY; and 13,900 mt of copper in copper concentrates, down 15% YoY. At the end of Q1 2025, the company's total assets were 49.256 billion yuan, with an asset-liability ratio of 62.39%. It achieved an operating revenue of 37.754 billion yuan, up 19.71% YoY; a total profit of 922 million yuan, up 14.11% YoY; a net profit attributable to publicly listed firms of 560 million yuan, up 23.97% YoY; and a basic earnings per share of 0.2793 yuan, up 23.97% YoY. II. Q&A Session 1. In the face of the sluggish processing fee situation this year, what measures has the company taken to respond? Yunnan Copper stated: On the one hand, the company has strategically planned for "digital and intelligent transformation, expanding resources, refining mines, optimizing smelting, solidifying secondary (copper), and meticulously managing minor (metals)", and increased the extraction of urban mines and minor metals. On the other hand, in 2025, the company focuses on the key work of extreme operation, striving to promote high-quality development of the company, and advancing cost reduction with iron determination. After several years of cost reduction, quality improvement, and efficiency enhancement, the costs of the company's main products have certain competitiveness. In addition, the company has increased the profit contribution of by-products such as sulphuric acid, molybdenum, selenium, tellurium, platinum, palladium, and rhenium to enhance the company's comprehensive competitiveness. 2. What is the expected impact of the current smelting processing fees on the company's profits? Yunnan Copper stated: Since this year, long-term contracts and spot TC have seen significant declines compared to last year. The company has offset the adverse impact of the decline in processing fees through measures such as cost reduction, expanding procurement channels, and increasing direct supply of ore from mines. In addition, the company focuses on the layout of secondary copper and minor metals, while continuing to increase the profit contribution of by-products such as sulphuric acid, molybdenum, selenium, tellurium, platinum, palladium, and rhenium to offset the profit pressure caused by the decline in processing fees. 3. What is the approximate sales volume and price of sulphuric acid for the company this year? Yunnan Copper Science & Technology Development Co., Ltd. stated: Sulphuric acid is a by-product of the company's copper smelting process, and its price varies due to regional factors. In Q1 this year, the average price of sulphuric acid in major regions increased significantly YoY. The company actively seized market opportunities, contributing positively to its performance. 4. What efforts has the company made in resource acquisition? Yunnan Copper Science & Technology Development Co., Ltd. stated: The company attaches great importance to the replacement of mine resources and has increased capital investment to carry out comprehensive geological studies of various mining areas and exploration work in the deep and peripheral parts of mines. In 2024, the company invested 65 million yuan in exploration activities and exploration work in the deep and peripheral parts of mines, adding 91,800 mt of inferred and above copper resource metal content, achieving the annual target and realizing annual reserve increases greater than mine output consumption for four consecutive years. In addition, on the basis of managing existing mines and smelters well, the company actively focuses on high-quality copper resource projects. 5. The company announced its intention to issue shares to purchase a 40% stake in Liangshan Mining held by Yunnan Copper Group. What is the current progress, and what advantages will it bring to the company? Yunnan Copper Science & Technology Development Co., Ltd. stated: On May 13, 2025, the company issued the "Announcement on Suspension of Trading for the Purpose of Planning to Issue Shares to Purchase Assets and Raise Supporting Funds", indicating that the company is planning to issue shares to purchase a 40% stake in Liangshan Mining Co., Ltd. held by Yunnan Copper (Group) Co., Ltd. and raise supporting funds. Currently, the company and relevant parties are actively promoting various aspects of this transaction. Liangshan Mining is a copper resource production and smelting enterprise spanning the copper mining, beneficiation, and smelting industries, covering copper, iron, and sulphuric acid products. Liangshan Mining owns high-quality copper resources such as the Lala Copper Mine and Hongnipo Copper Mine, currently capable of producing approximately 13,000 mt of copper concentrates, 119,000 mt of copper anodes, and 400,000 mt of industrial sulphuric acid annually. Liangshan Mining is one of the core copper resource production and smelting bases under China Copper Corporation. As of the end of March 2025, the high-quality copper mine resources it holds, including the Hongnipo Copper Mine, Lala Copper Mine, and Hailin Copper Mine, have a copper metal reserve of 779,700 mt, with an average copper grade of 1.16%, higher than the current average copper grade of 0.38% at Yunnan Copper Science & Technology Development Co., Ltd. In 2024, it successfully bid for and obtained the exploration rights to the Hailin Copper Mine in Huili City, Sichuan Province, with a mining area of 48.34 square kilometers, further enhancing the resource reserve potential of Liangshan Mining. In addition, the copper mining costs of the mines owned by Liangshan Mining are relatively low, demonstrating good cost competitiveness. The sulphuric acid sales prices in south-west China, where Liangshan Mining is located, are also relatively favorable. This time, the company intends to acquire a 40% stake in Liangshan Mining held by its controlling shareholder, Yunnan Copper Group, which can further resolve horizontal competition and ensure the faithful implementation of relevant commitments. Meanwhile, Liangshan Mining boasts significant resource advantages and a solid profitability foundation, with a return on net assets higher than the industry average. Upon completion of the Hongnipo Copper Mine, it will reach a medium-to-large scale among copper mines, further enhancing its profitability. After the injection of Liangshan Mining into Yunnan Copper, it can effectively increase the publicly listed firm's equity copper resource reserves, enhance the overall asset and profit scale as well as the industry position of the publicly listed firm, facilitate the full play of business synergies by the publicly listed firm, strengthen the reserve of high-quality resources and capacity layout, enhance comprehensive strength and core competitiveness, and promote the high-quality development of the publicly listed firm. In addition, this acquisition is a specific measure taken by the company to implement the relevant opinions of the SASAC of the State Council on improving and strengthening the market value management of listed firms controlled by central state-owned enterprises, and to carry out M&A and restructuring activities that are conducive to enhancing the investment value of listed firms, which is conducive to safeguarding the rights and interests of the listed firm and all its shareholders. 6. What is the construction status of the Hongnipo Project of Liangshan Mining? Yunnan Copper stated: The Hongnipo Copper Mine is currently in the construction phase. The total identified ore reserves amount to 41.606 million mt, with an average copper grade of 1.42% and a copper metal content of 592,900 mt. The company will closely monitor the project's construction progress and strictly fulfill its information disclosure obligations in accordance with relevant regulations such as the "SZSE Listing Rules". Please stay tuned for the company's announcements. According to the record of Yunnan Copper's investor relations activities on March 26, 2025 (Interpretation Meeting Series I for the 2024 Annual Report) previously announced by Yunnan Copper: In 2024, Yunnan Copper adhered to the guidance of Party building, continued to strive and forge ahead, comprehensively implemented the decisions and deployments of the company's Party committee and board of directors, overcame unfavourable factors such as a significant decline in TC and the shutdown of the old facilities of Xinan Copper, and maintained a stable operating situation. The company produced 1.206 million mt of copper cathode, 12.71 mt of gold, 348.99 mt of silver, and 4.8286 million mt of sulphuric acid throughout the year. As of year-end 2024, its total assets amounted to 43.557 billion yuan, with an asset-liability ratio of 57.66%. It achieved operating revenue of 178.012 billion yuan, total profit of 2.316 billion yuan, net profit attributable to the publicly listed firm of 1.265 billion yuan, and basic earnings per share of 0.6312 yuan. The company intends to distribute a cash dividend of 2.4 yuan (tax included) for every 10 shares to all shareholders, without converting capital reserves into share capital. What is the construction progress of the relocation project of the Xinan Copper Branch previously announced by the company? Yunnan Copper previously responded during an institutional survey: The electrolysis system of the upgrade and renovation project for the relocation of Xinan Copper was commissioned with load at the end of June 2024, and the pyrometallurgy system entered the load commissioning phase in mid-October 2024, successfully producing copper anodes. As of now, the overall project for the relocation and upgrade of Xinan Copper has been fully completed and is currently in the load commissioning phase. This project is conducive to optimizing the company's smelting layout and production processes, achieving efficient comprehensive utilisation of resources, reducing production costs, and enhancing the company's overall competitiveness, aligning with the company's development needs for green, low-carbon, large-scale, short-process, low-cost, and digital intelligence. When asked about the company's progress in resource acquisition in 2024, Yunnan Copper previously responded during an institutional survey: The company attaches great importance to the replacement of mine resources, increasing capital investment to carry out comprehensive geological studies of various mining areas and exploration work in the deep and peripheral parts of mines. In 2024, the company invested 65 million yuan in exploration, conducting multiple mineral exploration activities and exploration work in the deep and peripheral parts of mines, adding 91,800 mt of inferred and above copper metal resources, achieving the annual target, and achieving annual reserve increases greater than mine production and consumption for four consecutive years. As of the end of 2024, the company held 964 million mt of copper ore resources, with a copper metal content of 3.6509 million mt and an average copper grade of 0.38%. Among them, Diqing Nonferrous held 846 million mt of copper ore resources, with a copper metal content of 2.8037 million mt and an average copper grade of 0.33%. When analyzing the company's core competitiveness, Yunnan Copper mentioned that its good resource reserves are one of its core competitiveness factors: The company attaches great importance to the replacement of mine resources, increasing capital investment to carry out comprehensive geological studies of various mining areas and exploration work in the deep and peripheral parts of mines. The company's main mines, including the Pulang Copper Mine, Dahongshan Copper Mine, and Yangla Copper Mine, are mainly distributed in the Sanjiang Metallogenic Belt, with favourable metallogenic geological conditions and potential for further prospecting. In 2024, the company invested 65 million yuan in exploration, conducting multiple mineral exploration activities and exploration work in the deep and peripheral parts of mines, adding 91,800 mt of inferred and above copper metal resources, achieving the annual target, and achieving annual reserve increases greater than mine production and consumption for four consecutive years. As of the end of 2024, the company held 964 million mt of copper ore resources, with a copper metal content of 3.6509 million mt and an average copper grade of 0.38%. Among them, Diqing Nonferrous held 846 million mt of copper ore resources, with a copper metal content of 2.8037 million mt and an average copper grade of 0.33%. The 2025 financial budget plan disclosed by Yunnan Copper in its 2024 annual report indicates the following production plans for the company's main products in 2025: The company expects to produce 54,600 mt of copper in copper concentrates, 1.52 million mt of copper cathode, 16 mt of gold, 680 mt of silver, and 5.364 million mt of sulphuric acid throughout the year. The investment plan for 2025 is 1.617 billion yuan, covering fixed asset investments, digital projects, and geological exploration projects. During a survey, Yunnan Copper stated that in Q1 this year, the average price of sulphuric acid in major regions increased significantly YoY. The company actively seized market opportunities, contributing positively to its performance. 》Click to view SMM spot copper prices 》Subscribe to view historical SMM spot metal price trends Reviewing the sulphuric acid price trend in Q1, it can be seen that: In Q1, both domestic and overseas demand was strong, leading to an increase in the price of smelting acid. As of March 28 (week), the average weekly price of smelting acid (sulphuric acid) in Yunnan was 780 yuan/mt, up 280 yuan/mt from the average weekly price of 500 yuan/mt on December 27, 2024 (week). From the perspective of the average price increase, the Q1 increase was 56%. According to SMM, domestically, in Q1, sulphuric acid prices were supported by "spring ploughing" and the cost of raw materials. Overseas, demand was relatively strong in Q1, with export prices also rising to a relatively high level in recent years. After reaching a high average annual price of 780 yuan/mt, with the end of spring ploughing, the operating rates of downstream fertilizer enterprises declined, and domestic demand weakened. Domestic sulphuric acid prices began to weaken from mid-to-late April. In early May, influenced by the end of the spring ploughing season, sulphuric acid prices in many parts of the country were still in the process of pulling back, with significant declines particularly in the south China market, while prices in the northern market remained relatively stable overall. In mid-May, domestic sulphuric acid prices showed mixed performance, mainly due to the continuous release of fertilizer export information and the gradual implementation of related policies, leading to a gradual rebound in downstream demand. Sulphuric acid prices in the south stopped falling and stabilized. After entering late May, sulphuric acid prices in many parts of the country rose again. Since June, sulphuric acid prices in Yunnan have remained stable at the beginning of the month. However, recently, influenced by the escalating geopolitical conflicts and the resulting uncertainties, domestic sulphur and sulphuric acid prices have both risen significantly in the past week, with sulphuric acid prices showing a 15.38% increase in the week ending June 13, with its average price (as of the week ending June 13) rising to 600 yuan/mt.

According to SMM's latest monthly data survey, the total production of aluminum rods nationwide in May 2025 was 417,000 mt, an increase of 10,500 mt from April. After adjusting for the number of days in the month, the operating rate of aluminum rod plants in May was recorded at 62.15%, down 1.01% MoM and up 5.95% YoY. In the first half of May, due to the in the doldrums of aluminum prices and sufficient profit margins from orders on hand in the downstream sector, the market's purchasing efforts did not significantly weaken. Coupled with the industry still being in a concentrated shipping cycle, the supply side was able to maintain fluctuations at highs. However, in the second half of May, LME aluminum prices held up well due to the scarcity of aluminum ingots circulating in the market, while there was a noticeable weakening trend in industry deliveries. Consequently, market conditions took a sharp turn for the worse, and processing fees pulled back rapidly.

On June 13, at the 2025 SMM (13th) Minor Metal Industry Conference - Rare and Scattered Metals Forum (Indium, Germanium, Gallium, Bismuth, Selenium, Tellurium), hosted by Shandong Humon Smelting Co., Ltd. and SMM Information & Technology Co., Ltd., Long Wensheng, General Manager of Changsha Aochang Nonferrous Metals Co., Ltd., elaborated on "The Current Application Status and Future Prospects of Minor Metal Selenium.

On June 10, Energy Investment Group, Coal Industry Group, and the People's Government of Honghe Prefecture signed the "Strategic Cooperation Framework Agreement". Meanwhile, Coal Industry Group and the People's Government of Kaiyuan City signed the "Investment Cooperation Agreement for the Relocation, Transformation, and Upgrading of Jiehua Chemical, and the Construction of a 500,000 mt Synthetic Ammonia and Downstream Projects". Practical cooperation will be carried out in areas such as deepening the construction of the Jiehua Chemical relocation, transformation, and upgrading projects, the establishment of a new-type energy system, and the construction of port platforms. This strategic cooperation and project investment and construction represent an innovative practice to further deepen government-enterprise cooperation and promote the transformation of resource advantages into economic advantages. According to the agreements, all parties will establish cooperation mechanisms, including high-level coordination and promotion, dynamic management of issue lists, regular scheduling of work implementation, and feedback on task progress. They will deepen cooperation in leveraging resource advantages, optimizing resource allocation, empowering scientific and technological innovation with digital technologies, and deepening industrial integration. Based on the overall layout of green energy development and energy security for industrial transformation and upgrading, they will collaborate to advance the construction of key projects such as hydropower, thermal power, wind and solar power, and the relocation, transformation, and upgrading of Jiehua Chemical. They will accelerate the creation of a first-class green energy base, promote the clean and efficient utilization of energy, jointly explore development paths in emerging industries such as hydrogen energy and energy storage systems (ESS), and advance the in-depth integration and development of green energy and green advanced manufacturing industries, injecting strong momentum into Honghe Prefecture's efforts to promote innovative development of the park economy, open and upgrade the port economy, and achieve high-quality development of emerging industries. Luo Ping, Deputy Secretary of the Honghe Prefecture Party Committee and Governor; Xu Gaohong, Deputy Governor; Xie Lingyun, Deputy Secretary of the Kaiyuan Municipal Party Committee and Mayor; Yang Yunheng, Deputy Mayor; and relevant department heads from Honghe Prefecture and Kaiyuan City participated in the event. Also in attendance were Hu Jun, Secretary of the Party Committee and Chairman of Energy Investment Group and Coal Industry Group; Xie Yihua, President and Vice Chairman of Energy Investment Group; Gao Jiansong, Deputy Secretary of the Party Committee, Vice Chairman, and General Manager of Coal Industry Group; relevant leaders from Energy Investment Group and Coal Industry Group; and heads of headquarters departments and affiliated enterprises.