On March 10, 2026, Lynas and Japan’s JARE signed a long-term deal featuring PrNd floor prices, profit-sharing, and heavy rare earth priority. Analyzing 2025 production data, this report evaluates the partnership’s commercial terms, operational progress, and downstream demand security.

【SMM Vanadium Express】AMG Vanadium LLC completed an upgrade to its recycling facility in Ohio, increasing its capacity to recover vanadium from spent catalysts and oil residues by 20%.

On June 13, the 2025 SMM (2nd) Global Secondary Metals Industry Summit Forum , hosted by SMM, successfully concluded at the Hyatt Regency Bangkok Sukhumvit! The event brought together industry representatives and experts from multiple regions and countries, including India, the Middle East, Southeast Asia, Europe, and Africa. They engaged in brainstorming sessions on hot topics such as changes in the global supply-demand pattern of the secondary metals industry, global secondary metals industry development trends and challenges from a Middle Eastern perspective, in-depth analysis of the strengths and challenges in India, the Middle East, Europe, and Southeast Asia, the battery resource market in Southeast Asia: supply chain dynamics, the current situation and future challenges of the secondary lead industry in Southeast Asia, the development of the global secondary metals supply-demand pattern from an Indian perspective, and secondary copper and aluminum scrap yards: innovative recycling and sorting technologies to support the industry's green and carbon-reduction journey. Cui Suoye, Director of SMM Nonferrous Consulting, shared insights on the topic of "changes in the global supply-demand pattern of the secondary metals industry." Regarding secondary aluminum, he stated that over the past decade, the proportion of secondary aluminum production in developed countries such as North America, South America, Europe, and Japan has been significantly higher than that in developing countries. As developing countries benchmark against developed countries, their future potential for aluminum scrap demand will be even more substantial. From 2022 to 2042, SMM expects the compound annual growth rate (CAGR) of extruded aluminum scrap to reach approximately 5%. By 2042, extruded aluminum scrap is projected to account for about 33% of total aluminum scrap. Regarding secondary copper, he mentioned that SMM forecasts the global copper scrap market size to grow at a CAGR of 4.2% from 2024 to 2030. Wu Xiaoyun, Chairman of the Beijing-Tianjin-Hebei Lead-Acid Battery Industry Alliance, shared his views on "the current situation and transformation path of the secondary lead industry in Southeast Asia." He emphasized that the construction of a recycling system is closely linked to the healthy development of the secondary lead industry. The healthy development of the secondary lead industry relies on mutual support across the industry chain, rational government planning and policy support, as well as industry self-discipline and self-regulation. Xie Xiaoying, Director of Sustainable Development Business at Shanghai Lvran Environmental Information Technology Co., Ltd., introduced the topic of "the development path of the global secondary metals industry driven by the ESG context." She pointed out that despite the numerous challenges faced by the secondary metals industry, investing in advanced technologies can effectively handle various complex materials while reducing processing costs. To ensure supply chain reliability, manufacturers may adopt vertical integration strategies in key markets, which, however, will increase operational costs. In addition, the price of scrap metal is usually referenced against the market price of the relevant primary metal. Carbon pricing and the Carbon Border Adjustment Mechanism (CBAM) can help enhance the economic benefits of underutilized scrap metal resources. 》Click to view the live photo stream link 》Click to view the special coverage of this conference Opening Remarks Speakers: Fan Xin, Chairman of SMM Li Shilong, President of China Renewable Resources Industry Technology Innovation Alliance Award Ceremony Main Forum Guest Speeches Speech Topic: Green Transformation and Sustainable Development Prospects of Thailand's Recycled Metal Industry Guest Speaker: Secretary General of ASEAN Institution of Recycling (AIR) Dr. Somthai Wongcharoen The Thailand Recyclers Trade Association is composed of major recycling enterprises in Thailand, including smelting companies, wholesale collection enterprises, and import-export companies. In terms of metal scrap, association members handle high-value metals such as copper, primary aluminum, lead, as well as lead-acid batteries and EV batteries. Additionally, they also recycle electronic waste, such as PCB boards, extracting precious metals like gold, palladium, and copper. Enterprises within the association recognize the importance of the recycled metal industry to Thailand's future development, making metal recycling models very popular domestically. By relying on renewable resources, Thailand is expected to effectively address the challenges posed by climate change. 》Green Transformation and Sustainable Development Prospects of Thailand's Recycled Metal Industry Speech Topic: Strengthening International Exchanges to Promote Green Development of China's Non-Ferrous Recycled Metals Guest Speaker: Li Shilong, President of China Renewable Resources Industry Technology Innovation Alliance Interview with Top Entrepreneurs in the Recycled Metal Industry Moderator: Li Shilong, President of China Renewable Resources Industry Technology Innovation Alliance Guests: Zhu Zhanhong, HR and Administrative Director of Daizheng Daji Metal (Thailand) Co., Ltd. Zhang Junbing, Global Procurement Director of Hailiang Group Co., Ltd. Qin Xinghong, General Manager of P.C. WOOD PRODUCTS CO., LTD. Liu Qingcheng, Deputy General Manager and Director of Thai-Chinese Non-Ferrous Metals International Co., Ltd. Speech Topic: The Path to Global Development of the Recycled Metal Industry Driven by the ESG Context Guest Speaker: Xie Xiaoying, Director of Sustainability Business at Shanghai Lvran Environmental Information Technology Co., Ltd. Key ESG Risks Environment: Heavy metal pollution, water scarcity, climate impacts, waste. Social: Land/resettlement conflicts, labor rights, community health and safety. Governance: Compliance gaps, ethics, weak grievance mechanisms. ESG Accelerator Highlights the factors driving ESG compliance and sustainability (investors, regulations, and supply chains). Recycled Metals Emphasizes the role of recycled metals as a core ESG solution. Remaining Challenges Obstacles still hinder the full implementation of ESG, such as gaps in metal recycling technology, supply stability issues, and the lack of pricing mechanisms to calculate ESG value. The Path to Global Secondary Metals Industry Development Driven by the ESG Context Speech Topic: Changes in the Global Supply-Demand Pattern of the Secondary Metals Industry Guest Speaker: Cui Suoye, Director of SMM Nonferrous Consulting Cui Suoye, Director of SMM Nonferrous Consulting, shared insights on the topic of "Changes in the Global Supply-Demand Pattern of the Secondary Metals Industry." Regarding secondary aluminum, he stated that over the past decade, the proportion of secondary aluminum production in developed countries such as North America, South America, Europe, and Japan has been significantly higher than that in developing countries. For developing countries, benchmarking against developed countries, the future potential for aluminum scrap demand will be even more substantial. From 2022 to 2042, SMM expects the compound annual growth rate (CAGR) of extruded aluminum scrap to reach approximately 5%. By 2042, extruded aluminum scrap is expected to account for about 33% of total aluminum scrap. Regarding secondary copper, he mentioned that SMM forecasts the global copper scrap market size to grow at a CAGR of 4.2% from 2024 to 2030. Secondary Aluminum Over the past decade, the proportion of secondary aluminum production in developed countries such as North America, South America, Europe, and Japan has been significantly higher than that in developing countries. Similarly, for developing countries, benchmarking against developed countries, the future potential for aluminum scrap demand will be even more substantial. According to SMM, China, the US, Europe, and India are the major aluminum scrap-producing regions, accounting for approximately 80% of the total. Benefiting from global carbon reduction policies, recycling systems in various countries are continuously improving. In the future, aluminum scrap production will continue to grow. According to SMM data, in 2022, the production of rolled aluminum scrap exceeded that of extruded and cast aluminum scrap, becoming the highest among the three types of aluminum scrap. However, it is expected that extruded aluminum scrap will grow at the fastest rate in the future. From 2022 to 2042, SMM expects the CAGR of extruded aluminum scrap to reach approximately 5%. By 2042, extruded aluminum scrap is expected to account for about 33% of total aluminum scrap. SMM: Analysis of the Global Supply-Demand Pattern of the Secondary Metals Industry - The Market Size of Secondary Copper and Aluminum Will Continue to Rise Speech Topic: Global Secondary Metals Industry Development Trends and Challenges from a Middle Eastern Perspective Guest Speaker: Sanjeev Phadke, Financial Controller and Executive Committee Member of the Middle East Recycling Bureau Exploring the Global Secondary Metals Market: An In-depth Analysis of Strengths and Challenges in India, the Middle East, Europe, and Southeast Asia Moderator: Fan Xin, Chairman of SMM Guests: Metalcom Ltd. General Manager Mr. Kittipot Thanalertlap CEO of Dr. Recycling, Tan Tian Director of DIMEXA HOLDINGS PTE. LTD., WENCESLAO MANZ Financial Controller and Executive Committee Member of the Middle East Recycling Bureau, Sanjeev Phadke June 13 Battery Recycling Forum Southeast Asian Battery Resource Market: Supply Chain Dynamics Moderator: Cui Suoye, Director of SMM Nonferrous Consulting Guests: Sujin Kim, Global Business Development Director of BatX Energies Wu Xiaoyun, Chairman of the Beijing-Tianjin-Hebei Lead-Acid Battery Industry Alliance Zhao Bin, President of the Thai-Chinese Rayong Industrial Zone Chen Wenkai, Chairman of the Malaysia Nonferrous Metals Association (MNMA) Shen Juan, Purchasing Director of Jingjiu Group Speech Topic: Current Status and Future Challenges of the Southeast Asian Secondary Lead Industry Guest Speaker: Wu Xiaoyun, Chairman of the Beijing-Tianjin-Hebei Lead-Acid Battery Industry Alliance I. Overview of the Current Status of the Southeast Asian Secondary Lead Industry I. Current Status of the Southeast Asian Secondary Lead Industry 1. Severe Imbalance in Supply and Demand Demand Side: Demand for lead-acid batteries: starting batteries (with an ownership of over 40 million units) and motorcycle power batteries (with an ownership of 250 million units), as well as demand for backup power supplies for 5G base station construction (ESS batteries). Supply Side: The local secondary lead production capacity is severely insufficient, with an annual shortfall of 150,000 mt in Vietnam (self-sufficiency rate of only 42%) and 80,000 mt in Indonesia (self-sufficiency rate of 65%), relying on imported lead ingots to fill the gap. Raw Material Bottleneck: Scrap lead-acid batteries are difficult to recycle across borders due to restrictions under the Basel Convention, resulting in an annual loss of approximately 600,000 mt of lead. The utilization rate of secondary lead production capacity is only 50%. 2. Environmental Protection and Technological Challenges ESG compliance costs in Malaysia have increased by 30%, with small and medium-sized factories investing over $5 million annually in environmental protection. Thailand/Indonesia will ban the import of lead-containing plastic residues in 2025, exacerbating the shortage of raw materials. A high proportion of low-purity secondary lead (60% of inventory in Malaysia has a purity of 3. Intensified Regional Competition Chinese battery companies have deployed a production capacity of 1 million mt, driving up the local scrap battery acquisition premium to 120% of the Chinese market price. 》Wu Xiaoyun: Current Status and Path to Transformation of the Southeast Asian Secondary Lead Industry Speech Topic: Improving the Battery Recycling System Driven by the Market Growth of EVs in Southeast Asia Guest Speaker: Luo Tieying, President of Jinchi Industrial Park Speech Topic: Exploring Africa: Opportunities for Sustainable Expansion and Raw Material Investment Guest Speaker: Yousef Al Sharif, Director of the African Recycled Metals Association/Al Sharif Metal Secondary Copper and Aluminum Forum Speech Topic: Global Impact of Changing Trade and Tariff Policies in the US Guest Speaker: Adam Shaffer, VP of the Institute of Scrap Recycling Industries (ISRI) Speech Topic: SMM Serving the Global Secondary Copper and Aluminum Metal Market Guest Speaker: Zhang Xiaoyao, Project Leader of SMM Recycling Conference Speech Topic: Global Supply-Demand Pattern Development of Secondary Metals from an Indian Perspective Guest Speaker: Amar Singh, Secretary General of the Material Recycling Association of India Speech Topic: Building a New Cambodia-China Metal Hub - Inviting You to Co-Construct an Overseas Demonstration Industrial Park for Recycling Nonferrous Metals Processing Guest Speaker: Cao Zhuo, General Manager of International Business for the Americas Region of the Cambodia-China Metal Materials Industrial Park Secondary Copper and Aluminum Yard: Innovative Recycling and Sorting Technologies Paving the Way for Green and Carbon-Reducing Industry Moderator: Zhou Bo, Executive Vice President of SMM Guests: Liang Jiali, Deputy General Manager of Foshan Lvtian Environmental Protection Machinery Equipment Co., Ltd. Li Zhiqiang, General Manager of Henan Recycling Technology Co., Ltd. Ye Hangyu, Director of the Foreign Trade Department of Hefei Anjinglong Electronics Co., Ltd. Sun Bolin, Sales Director of Liaoning Pinuo Environmental Protection Technology Co., Ltd. Recommendations for Copper, Aluminum - High-Quality Overseas Yards and Trustworthy Traders, and Batteries - High-Quality Equipment Enterprises Sidelights from the Venue 》Click to View More Sidelights With this, the 2025 SMM (2nd) Global Secondary Metals Industry Summit has come to a successful conclusion. See you next year! 》Click to view the special report on the 2025 SMM (2nd) Global Recycled Metals Industry Summit Forum

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

In recent years, with the expansion and capacity increase of China's titanium dioxide (TiO₂) enterprises and the participation of enterprises from outside the industry, the capacity of TiO₂ has continued to rise. Homogeneous competition among enterprises has led to a sluggish market price, significantly lower than that of foreign products. How can the industry break free from the "cut-throat competition" and find a way out? China Nuclear Huayuan Titanium Dioxide Co., Ltd. (hereinafter referred to as "CNHT") has taken proactive measures and strategic planning, seizing new opportunities through five initiatives, including technological innovation and optimized resource allocation, to propel the company onto a healthy and sustainable development path. The first initiative is to strengthen technological innovation. According to Zhang Benfa, Chief Engineer of CNHT, the company places great emphasis on scientific and technological innovation. On the one hand, it continuously improves production processes, such as upgrading the sulphuric acid method's batch acidolysis process to continuous acidolysis and continuous crystallization technologies, enhancing production efficiency, reducing energy consumption and pollutant emissions, and improving product quality and stability. On the other hand, it focuses on developing new products, increasing R&D investment, benchmarking against Ishihara Sangyo Kaisha's TiO₂ products, and developing high-performance, multifunctional TiO₂ products to meet the needs of different application fields, such as TiO₂ with antibacterial and self-cleaning functions, thereby expanding product application scope and market share. The second initiative is to strengthen brand building. CNHT enhances product quality and stability by optimizing the titanium ore ratio and strengthening production process control. It provides high-quality pre-sales, in-sales, and after-sales services to establish a positive corporate image and brand reputation, increasing customer loyalty and satisfaction. The company has also enhanced the visibility and influence of its brand through advertising, participating in industry exhibitions, and organizing product promotion activities. The third initiative is to promote green development. CNHT continuously strengthens energy management, adopting advanced energy-saving technologies and equipment to reduce energy consumption during production. It enhances the treatment of pollutants such as waste gas, wastewater, and waste residues to achieve compliant emissions and reduce environmental impact. CNHT actively explores the comprehensive utilisation of titanium ore resources to improve resource utilization rates. For example, it conducts secondary ore beneficiation on acidolysis black slag and strengthens the recovery and utilization of by-products during production, such as recovering ferrous sulphate through freeze crystallization of waste acid, followed by waste acid concentration and reuse of sulphuric acid, thereby reducing production costs and achieving sustainable development. The fourth initiative is to optimize enterprise management. CNHT strictly controls costs, strengthens internal enterprise management, optimizes production processes, and reduces production costs. It lowers raw material procurement costs through concentrated procurement and establishing long-term cooperation with suppliers. CNHT attaches great importance to talent cultivation and recruitment, assembling a high-quality team for technological R&D, production management, and marketing, providing talent support for enterprise development. Fifth, expand market channels. China Nuclear Titanium White delves deep into the domestic market, gaining insights into customer needs and developing marketable products through enhanced survey and analysis of the domestic market. It expands sales channels, strengthens cooperation with downstream enterprises, and establishes long-term and stable cooperative relationships. In addition, China Nuclear Titanium White intensifies its efforts to explore the international market, actively responds to international trade barriers and disputes, and increases the export share of its products. It also strengthens cooperation with internationally renowned enterprises, learns advanced technologies and management experiences, and enhances the company's international competitiveness.

On the morning of May 6, the 186㎡ fluidized bed roasting furnace of the 150,000 mt/year green and intelligent zinc-based material manufacturing project of Henan Wanyang Zinc Industry Co., Ltd. commenced feeding and production. The 150,000 mt/year green and intelligent zinc-based material manufacturing project of Henan Wanyang Zinc Industry Co., Ltd. adopts a main process flow that includes roasting, conventional leaching, three-stage antimony salt purification, 3.2㎡ large-plate electrodeposition, and induction electric furnace zinc melting and casting. It is also equipped with an efficient and comprehensive "leaching residue side-blowing + fuming treatment" system, as well as a comprehensive recycling and water atomized zinc system, enabling maximum realization of green, reduction, and recycling principles. This positions it as a relatively well-configured zinc smelter within the industry. The roasting system employs the first 186m² roasting furnace in China. The main advantages of large fluidized bed roasting furnaces include stable and reliable production, low operating costs, strong processing capacity, relatively small raw material requirements, good thermal stability, and the ability to effectively process materials of various grades from different regions nationwide, resulting in a high solubility rate of zinc in the roasted product. As an upgraded version of the 152m² furnace model, the staffing configuration remains largely consistent with the 152m² model, yet the production capacity can be increased by nearly 40%, reaching a normal capacity of approximately 250,000 mt, significantly enhancing economic benefits. The 186m² roasting furnace represents the largest roasting system for a single series in zinc smelting. The successful commissioning of this project will serve as a demonstration for the future construction and stable operation of ultra-large-scale, ultra-high-standard zinc smelting projects. In this project, the 3.2m² plate electrolysis production control is entirely centralized in the control room. Operations such as cathode loading and unloading, mechanical zinc stripping, mechanical cathode plate scrubbing, anode automatic flattening, and cleaning are all carried out automatically according to pre-programmed sequences, enabling full automation of cathode loading and unloading, as well as anode cleaning and flattening, significantly reducing labor costs and worker intensity. For an electrolysis workshop of the same scale, approximately 200 workers are typically required, whereas this project, with its automation investment, only requires around 80 workers. In the past, traditional small-plate (1.6m²) electrolysis processes typically utilized around 800 electrolytic cells, whereas this project's large-plate electrolysis cells only require around 200, significantly reducing the need for factory floor space. Cathode-deposited zinc sheets are automatically transported by a crane to the automatic cathode zinc stripping machine. The stripped zinc sheets are then transported by an automatic plate-connecting elevator to the feeding platform of the melting and casting workshop, where they are automatically added to the induction electric furnace. Robots stir and skim off the dross, and the skinned zinc sheets are processed through the casting machine, automatic palletizing, packing, static weighing, and labeling, after which the products are temporarily stored in the finished product warehouse by AGV automatic forklifts. This achieves automation and intelligent upgrading from zinc sheets to zinc ingots, realizing intelligent transformation in the smelting industry.

At the 2025 (10th) New Energy Industry Expo - Lithium Battery Recycling Forum hosted by SMM Information & Technology Co., Ltd., Lin Ziya, SMM's lithium battery recycling industry analyst, discussed the theme of "Breaking Through 2025: Profit Analysis of China's Lithium Battery Recycling, and Opportunities and Challenges under Policy Reforms." She stated that driven by the global carbon neutrality process, the power and energy storage markets are experiencing explosive growth, and the demand for lithium batteries remains optimistic, although the marginal growth rate is slowing. Considering cost and safety issues, the penetration rate of the LFP system will continue to steadily increase globally. Currently, China's recycling market is still in a stage of overcapacity, gradually achieving capacity clearance. Recycling Market Overview and Global Scrap Battery Market Size Global Lithium-ion Battery Recycling Scale Determination Method The new energy market maintains a growth trend, but the marginal growth rates of both the power and energy storage sectors are gradually slowing. SMM expects the global NEV sales CAGR to reach around 9% from 2025 to 2028. Analyzing the factors influencing the growth of the NEV market in China, North America, and Europe, in China, it is mainly supported by the trade-in policy; in North America, the NEV market is hindered by the US tariff hike, which has increased the prices of new energy-related products and raw materials, raising costs and impeding long-term new energy development; in Europe, the development of the NEV market is primarily driven by carbon emission assessments. In the energy storage market, SMM expects the CAGR of the energy storage market to reach around 16% from 2024 to 2028. Analyzing the factors influencing the growth of the NEV market in China, North America, and Europe, in China, it is mainly driven by power market reform and new-type energy storage demand; in North America, the NEV market is hindered by the US tariff hike, which has increased the prices of new energy-related products and raw materials, raising costs and impeding long-term new energy development; in Europe, the Renewable Energy Directive RED III aims to increase the share of renewable energy in the EU's final energy consumption to 42.5% by 2030. Global Theoretical Lithium-ion Battery and Recyclable Metal Content According to SMM, currently, end-of-life batteries mainly come from production waste; after 2028, the theoretical recyclable metal content from scrapped batteries will gradually exceed that from production waste. SMM expects that from 2024 to 2030, the global CAGR of theoretical lithium-ion battery recycling from social end-of-life is expected to reach around 48%, from production waste around 14%, and from inventory end-of-life around 8%. In terms of global theoretical recyclable metal content, by 2030, the recyclable metal content from social end-of-life is expected to reach around 1.06 million mt, from production waste around 670,000 mt, and from inventory end-of-life around 66,000 mt. Current Status of China's Lithium Battery Recycling Market: Profit and Production Overview of China's Recycling Industry - Market Status According to SMM data, the volume of black mass from scrap lithium battery recycling in China is expected to increase YoY for three consecutive months in February, March, and April this year compared to the same period in 2024. Value Breakdown of Different Types of Uncrushed Scrap Products Currently, the main product after processing scrap batteries and pole pieces is black mass, accounting for about 57% of the value of different types of batteries. According to SMM analysis, the current market for scrap battery cells and pole pieces is still priced by weight, with buyers and sellers negotiating a lump sum (yuan/mt), with black mass, copper powder, and aluminum powder constituting the main cost of scrap battery cells, thus the price of black mass is strongly correlated with the price changes of copper and aluminum in scrap material costs. Profit and Cost of Externally Purchased Uncrushed Scrap in the Downstream of the Power Battery Recycling Industry Chain - Powdering End China's Secondary Nickel, Cobalt, and Lithium Salt Capacity, Production, and Forecast (2022-2025E) The supply proportion of secondary metals is still relatively low, but as the tide recedes and ESG regulations tighten, the recycling proportion will steadily increase. SMM expects that by 2026, China's secondary nickel sulphate capacity is expected to exceed 200,000 mt/year, with production expected to reach around 100,000 mt; from 2025 to 2026, the supply proportion of secondary nickel sulphate is expected to remain between 15% and 20%; In terms of secondary cobalt sulphate, it is expected that by 2026, China's secondary cobalt sulphate capacity is expected to exceed 80,000 mt/year, with production expected to reach around 20,000 mt/year; by 2026, the supply proportion of secondary cobalt sulphate is expected to approach 25%; In terms of secondary lithium carbonate, it is expected that by 2026, the capacity of secondary lithium carbonate is expected to approach 600,000 mt, with production expected to reach around 100,000 mt; from 2024 to 2026, the supply proportion of secondary lithium carbonate will continue to increase, and by 2026, it is expected to approach around 25%. Profit and Cost of Externally Purchased Black Mass in the Downstream of the Power Battery Recycling Industry Chain - Wet Process End Click to View SMM New Energy Product Spot Quotes According to SMM analysis, from November 2024 to March 2025: Due to the previous destocking of lithium carbonate, the price of lithium carbonate slightly increased, temporarily repairing the profit of wet-process LFP scrap. However, with the resumption of production at Ningde mines after the holiday leading to a surplus in lithium carbonate supply and demand, lithium salt prices continued to decline, and LFP scrap showed a continuous inversion. Click to View SMM New Energy Product Spot Quotes From November 2024 to March 2025: Due to the previous decline in nickel sulphate and cobalt sulphate prices, the profit of wet-process ternary and LCO scrap continued to invert, but due to the DRC's restrictions on the import and export of cobalt intermediate products, cobalt salt prices surged, repairing the profit of ternary and LCO scrap, with LCO scrap profit above the surplus line. Analysis of China's Lithium Battery Recycling Industry Policies Recycling Industry: Both the EU and North America are in the initial stage, while China's recycling market is entering a critical period China's Vehicle Recycling Subsidy - Trade-in Policy The national "trade-in" policy for the automotive industry, followed by local policies, aims to stimulate sales through vehicle upgrades and increase the recycling volume of scrapped vehicles. China's Black Mass Policy - Policies on the Import of Recycled Black Mass for Lithium-ion Batteries In 2025, the country released a draft for comments on the "black mass import and export" policy, with comments closing on March 20. The draft specifies various index requirements for black mass. According to SMM analysis, qualified lithium-ion battery recycled black mass is not considered solid waste and can be freely imported. Black mass should not be mixed and should be classified. The index requirements in the black mass import and export specifications are consistent with the Class II black mass requirements in "GBT 45203-2024 Lithium-ion Battery Recycled Black Mass." In October 2024, the EU released a "Draft Revision of the Waste List," adding waste residues and intermediate products from the recycling of waste lithium batteries and nickel batteries as hazardous substances. After the revision is passed, the export of hazardous waste to non-OECD countries, including Southeast Asia and China, will be prohibited. Lithium Battery Recycling Policy White Paper, Covering Policy Standards for All Players in the Lithium Battery Recycling Process Summary End-use Demand: Driven by the global carbon neutrality process, the power and energy storage markets are experiencing explosive growth, and the demand for lithium batteries remains optimistic, although the marginal growth rate is slowing. Considering cost and safety issues, the penetration rate of the LFP system will continue to steadily increase globally. China's Recycling Market: Integration is gradually deepening, and with the increase in social end-of-life and battery cell production schedules, the total procurement volume and output of market scrap are gradually increasing. Profit: The profit of the wet process end has long been below the surplus line, and the powdering end is slightly better than the wet process but still shows inversion. Recycling Policies: Newly introduced policies such as trade-in, black mass import and export, and black mass specification requirements have become the focus of attention. Capacity allocation in regions such as the EU and North America is still uneven, mainly concentrated in the front-end powdering pretreatment. Opportunities and Challenges: With the large-scale social end-of-life wave and the opening of black mass import and export, black mass supply will gradually increase. Currently, China's recycling market is still in a stage of overcapacity, gradually achieving capacity clearance. Click to View the 2025 (10th) New Energy Industry Expo Special Report

Introduction: In today's world, where the global goal of carbon neutrality is accelerating, secondary non-ferrous metals are embracing a historic development opportunity. The latest statistics show that for every 1 percentage point increase in China's recycling rate of secondary metals, 23 million tons of carbon dioxide emissions can be reduced. This article will provide an in-depth interpretation of the new 2024 policies on the supervision of secondary metal imports, unveiling the "green customs clearance" secrets within the multinational industry chain. [New Product Access: The Green Revolution of Strategic Resources] Driven by the dual carbon strategy, secondary metals have become the "urban mines" supporting the transformation and upgrading of the manufacturing industry. The newly revised "Technical Specifications for Secondary Metal Raw Materials" not only redefines the raw material classification system but also establishes a digital supervision framework. For importers, it is crucial to grasp the following key elements: Core Advantages The energy consumption of secondary aluminum production is only 5% of that of primary aluminum, and the carbon footprint of secondary copper is 65% less than that of ore-based copper. According to customs data from Q3 2024, the customs clearance time for compliant secondary copper and aluminum imports has been compressed to 3.5 working days, achieving a 400% efficiency improvement compared to ordinary metal scrap. [Key Points of the New Policy: Understanding the Customs' New "Metal Dictionary"] I. Triple Breakthroughs in Catalog Reconstruction 1. Digital Classification Standards Copper-based raw materials : Forming a three-tier gradient of "pure metal wire - mixed granules - refined copper wire nodules" Aluminum alloy family : Subdivided into three series: casting, wrought processing, and engineering pure aluminum Comparison Table of Old and New Catalogs 2. Qualitative Changes in Technical Indicators Adopting the Melt Flow Index (MFI) to replace traditional visual inspection methods and introducing XRF rapid detection technology: Example: Secondary wrought aluminum alloy must meet the following requirements: σb ≥ 180MPa δ5 ≥ 8% Brinell hardness HBW ≥ 45 3. Revolution in Customs Inspection and Testing Developing a "three-dimensional spectral matrix" detection system to achieve: 0.5-second early warning for heavy metal pollution 99.3% accuracy in AI recognition of non-metallic residues Online monitoring of radioactive isotopes [Customs Clearance Tips: Five Essential Strategies for Enterprises] Step-1: Traceability of Cargo Quality Establish a supplier ESG rating system, focusing on verifying: ISO 14064 certification of pre-processing plants Disassembly process monitored by electronic fencing Temperature and humidity sensor data chain during transportation Step-2: Smart Declaration System HS code selection matrix Step-3: Preventive Testing Recommended mandatory testing items for third-party laboratories: Melt Loss Rate (MLR) Three-dimensional distribution scanning of inclusions Pyrolysis gas chromatography of coating substances Step-4: Smart Document Management The blockchain document system must include: Laser traceability QR codes Multi-spectral analysis reports Carbon emission factor calculation sheets Step-5: Emergency Response Plan Reserve a special fund for return shipments. Registered AEO-certified enterprises can enjoy: 50% reduction in deposits Extension of customs payment deadlines to 90 days [Sobering Cases: Warnings of Multi-Million-Dollar Cargo Losses] Scenario 01: The Fatal Moisture Trap In August 2024, a Shenzhen enterprise imported 20 containers of secondary aluminum ingots, neglecting transportation environment monitoring: On-site inspection : Surface moisture content 0.8% → Deep-layer moisture content 11.3% Economic Loss : Port demurrage fees of 480,000 yuan + return shipment costs of 2.2 million yuan Scenario 02: The Butterfly Effect of Concealed Contaminants A hardware factory in Dongguan imported secondary copper granules contaminated with fragments of old circuit boards: Concealed Contaminants : Containing 0.3% lead solder Chain Reaction : Full-line production contamination, breach of a 300 million yuan order Scenario 03: The Abyss of Certification Fraud A Zhejiang trader trusted a forged EN 13920 certificate: Fraud Exposed : The EU registration number did not exist Qualification Loss : Customs credit rating downgraded to D class [Future Smart Manufacturing: The Digital Breakthrough of Secondary Metals] Framework of Smart Import Monitoring System Industry Trend Forecast Mandatory integration with secondary metal blockchain platforms by 2025 Smart container penetration rate to exceed 60% Multi-departmental joint punishment mechanisms to cover the entire supply chain [Strategic Conclusion] Standing at the forefront of global green trade, the import of secondary metals has entered the era of smart supervision. Enterprises urgently need to establish a three-in-one risk control system of "digital certification + process monitoring + smart logistics." Remember: Compliance is not a cost but the core competitiveness of the new era. When you successfully navigate through the policy fog, what you gain is not only customs clearance convenience but also the future code for sustainable development. Extended Thinking How can the RCEP agreement be utilized to obtain tariff preferences for secondary metals? How can Industry 4.0 technologies be deeply integrated with metal recycling?

On April 29, the China Nonferrous Metals Industry Association held a press conference on the economic operation of the nonferrous metals industry in Q1 2025. At the conference, Li Yusheng, Director of the Policy Research Office of the China Nonferrous Metals Industry Association, responded to questions from a reporter from the *Resource Recycling* magazine regarding the upgrading of the secondary metal industry and the construction of an international resource collaboration system. Li Yusheng introduced that the *Government Work Report* at the 2025 Two Sessions made new arrangements for the continuous deepening of the development of the resource recycling industry, namely, "strengthening the recycling of waste materials, vigorously promoting the use of secondary materials, and promoting the development of the circular economy." The National Development and Reform Commission (NDRC) and the Ministry of Finance issued the *Notice on Intensifying and Expanding the Implementation of Large-Scale Equipment Replacement and Consumer Goods Trade-in Policies in 2025*, implementing special actions to promote the application of secondary materials and supporting producers of automobiles, electrical and electronic products, etc., to increase the proportion of secondary materials used. The Ministry of Industry and Information Technology (MIIT), in conjunction with multiple departments, issued the *Implementation Plan for High-Quality Development of the Copper Industry (2025-2027)* and the *Implementation Plan for High-Quality Development of the Aluminum Industry (2025-2027)*, proposing to strengthen the processing and distribution capacity of copper and aluminum scrap, promote the standardized recycling and refined sorting of raw materials, encourage the import of qualified secondary copper and aluminum raw materials, support copper smelters and copper and aluminum processing enterprises to increase the proportion of secondary copper and aluminum used, and promote high-value utilization. In terms of encouraging technological innovation, the NDRC and other departments issued the *Green Technology Promotion Catalogue (2024 Edition)*, which includes technologies such as "comprehensive recycling and utilization technology for waste lithium-ion batteries," "comprehensive utilization technology for arsenic-containing waste residues from gold and copper smelting," and "clean recovery technology for valuable components from waste power batteries," among others. Financial institutions are encouraged to strengthen financing support for the application of green technologies listed in the *Catalogue* through green credit, green bonds, carbon emission reduction support tools, etc. Li Yusheng stated that in 2024, China's production of secondary nonferrous metals reached 19.15 million mt, ranking first in the world for 15 consecutive years. The physical content of imported secondary copper and aluminum raw materials exceeded 4 million mt, accounting for 23% of the total supply of raw materials, a decrease of 1.7 percentage points compared to 2023. A raw material supply structure has been basically formed, with domestic recycling as the main source and imports as an important supplement. At the same time, China is actively constructing a more resilient international resource collaboration system to reduce the impact of external risks. 1. Import management policies are continuously improved, and the variety of imported products is increasing. The new version of the announcement on the import management of secondary copper and aluminum raw materials and relevant customs inspection procedures have been implemented since November 2024, adding the import of secondary copper alloys such as brass, bronze, white copper, and high-copper alloys, as well as secondary wrought aluminum alloys and secondary pure aluminum raw materials that meet the index requirements. The announcement on the import management of secondary black mass raw materials for lithium-ion batteries has completed the solicitation of opinions, and secondary black mass raw materials that meet the standards will be included in the category of free imports. In addition, the import management policy for spent target materials after sputtering is also being orderly promoted, aiming to recycle and reuse critical strategic metal resources such as tantalum, cobalt, nickel, tungsten, molybdenum, and vanadium. 2. Establish recycling plants abroad to expand the coverage of the recycling network. Following the establishment of dismantling, sorting, and recycling production lines for secondary nonferrous metal raw materials by Chinese enterprises in Southeast Asian countries such as Vietnam, Malaysia, Thailand, and Cambodia, Chinese enterprises have begun to establish sorting plants in countries such as Japan, South Korea, Pakistan, Bangladesh, and Indonesia to recycle secondary nonferrous metal resources, greatly expanding the sources of international secondary raw materials and enhancing the resilience of overseas secondary resource supplies. 3. The number of countries from which raw materials are imported has increased, and the sources of secondary raw materials have become more diverse. Taking the import of secondary aluminum raw materials as an example, the number of importing countries and regions has increased to 95, an increase of 6 compared to 2023. The number of countries and regions importing more than 10,000 mt of secondary aluminum has reached 22, an increase of 4 compared to 2023. 4. Customs further optimizes the business environment at ports to facilitate customs clearance. The General Administration of Customs has carried out pilot projects for the transshipment of secondary metal raw materials in inland areas, creating favorable conditions for importing enterprises to reduce transportation and logistics costs and improve customs clearance efficiency. At the same time, it has comprehensively promoted the construction of smart customs and introduced 16 specific measures to "optimize processes, simplify procedures, and improve efficiency," helping enterprises reduce costs, increase vitality, and continuously enhance the level of cross-border trade facilitation.

【50,000-Ton Battery Scrap Recycling Project Receives Environmental Approval】On April 17, the environmental authority in Yanzhou District approved a 50,000-ton/year battery scrap recycling initiative. Located at an industrial park in Jining City, the RMB 100 million project will process anode fragments, copper/aluminum foil scraps, and other battery production residues to enable efficient resource recovery.