【SMM Steel】ArcelorMittal Kryvyi Rih will halt its Foundry and Mechanical Plant (LMZ) in three months, cutting over 1,700 jobs. Total cuts exceed 2,400 with the blooming shop also closing. Soaring power costs from infrastructure attacks and expensive imports made steel production unviable. EU's CBAM, effective 2026 with no Ukraine exemption, blocked European market access, drying up LMZ orders.

The Beijing Municipal Development and Reform Commission and the Commission of Housing and Urban-Rural Development have officially released the Beijing 2026 Key Engineering Plan. Marking the start of the "15th Five-Year Plan," the city will advance 300 major projects categorized into three groups: 100 technological innovation and modern industry projects, 100 infrastructure projects, and 100 livelihood improvement projects. The plan includes 120 new starts and 180 ongoing projects, notably featuring the development of three large-scale energy storage (ESS) bases to bolster the city's energy infrastructure.

[SMM Tin Morning Update: SHFE Tin Prices Opened Slightly Higher in the Night Session and Then Consolidated at High Levels; As Prices Rebounded, Spot Cargo Transactions Gradually Cooled]

Alma Metals (ASX: ALM) holds 2 million tonnes of copper resources at its Briggs Copper Project in Queensland, making it the largest undeveloped copper project in the state. The company plans to increase the resource estimate to 3 to 4 million tonnes through future drilling campaigns and leverage the surrounding well-established infrastructure to advance the completion of a Pre-Feasibility Study.

In January 2026, the European Union and India reached a historic Free Trade Agreement (FTA), with the elimination of steel tariffs of up to 22% becoming a major market focus. However, clearing the policy fog of "bilateral exemptions" and analyzing actual export and carbon emission data reveals that the steel industry faces a highly asymmetric trade reshaping. This seemingly fair reduction is actually Europe trading a "capped" ticket for India's "uncapped" massive incremental market.

Against this backdrop, the value of energy storage and grid infrastructure becomes particularly prominent. If conflict persists, the core objective of energy systems will shift from cost optimization to systemic resilience. Distributed energy, microgrids, and storage possess an insurance-like function; their value becomes more visible under extreme conditions. Even if elevated raw material prices increase project costs, higher policy priority may provide long-term support.

Recently, geopolitical turbulence in the Middle East has emerged, bringing a certain degree of impact to the overall overseas PV market. Below, we provide an in-depth analysis of the current Middle East PV market from various perspectives:

【By month-end, the total number of EV charging infrastructures (points) in China reached 20,698,000, up 49.6% YoY. 】Data from the national charging infrastructure monitoring and service platform showed that by the end of January 2026, the total number of EV charging points in China reached 20.698 million, up 49.6% YoY. Among these, there were 4.801 million public charging points, up 31.2% YoY, with a total rated power of 226 million kW and an average power of about 47.01 kW; private charging points numbered 15.897 million, up 56.1% YoY, and the installed electrical capacity for private charging facilities reached 138 million kVA.

Spanish stainless steel giant Acerinox S.A. has seen a surge in interest from US investors following resilient earnings and a confirmed dividend strategy. As the parent company of Kentucky-based North American Stainless (NAS), Acerinox is being positioned as a strategic "sleeper play" for its exposure to high-value special alloys critical to EV supply chains, data centers, and industrial reshoring. While the company remains a traditional cyclical player, its shift toward high-margin specialty products and a disciplined capex approach has allowed it to maintain solid EBITDA despite weak European demand. For US portfolios, it offers a diversified global alternative to domestic names like Nucor or Cleveland-Cliffs.

Chile's Ministry of Health has officially authorized the use of copper slag as artificial aggregate in construction, such as for road surfaces. Published into law on February 12, 2026, Supreme Decree 46 aims to transform a significant mining waste product into a valuable resource. Industry group Consejo Minero stated the regulation promotes the circular economy by turning a historical liability into an input for infrastructure. Mining companies Anglo American and Codelco supported the effort through pilot projects demonstrating the material's safe application in paving and public spaces.