The 2025 2nd SMM Southeast Asia Automotive Supply Chain Conference was successfully held, featuring the on-site launch of 10 new car models, Southeast Asia brand strategies from three automakers, and SMM's local steel prices in Thailand. The event facilitated efficient matchmaking between 12+ buyers and 60+ suppliers, and preliminarily established a communication platform for the entire industry chain of Southeast Asian automotive. Currently, the NEV industry in Southeast Asia is entering a critical development phase. Thailand, Indonesia, and Vietnam each have their own strategic layouts and breakthroughs, while the industry also faces challenges such as supply chain restructuring, competition over technology roadmaps, and localization compliance. Thanks to the support of all parties, SMM's local pricing systems in Thailand and Indonesia have been implemented and adopted by core enterprises, establishing a credible cost benchmark for the industry. The 2026 3rd Conference will focus on three core themes: exploring the NEV auto sales potential in Southeast Asia; connecting the last mile of the supply chain and integrating regional industry chain resources; and advancing SMM's Southeast Asia metal pricing from a price reference to a transaction benchmark, implementing electrification material procurement applications, and establishing an executable pricing system. We firmly believe that true progress comes from turning consensus into action. At this conference, BEST cordially invites you to gather again in Bangkok to transform strategic blueprints into market competitive advantages, to witness and participate in this extraordinary and far-reaching industry event, and to co-create a brilliant new chapter! Click the to register now. Booth No.: B04 BEST was established in 1997 and listed on the ChiNext Board of the Shenzhen Stock Exchange in 2017. As a national high-tech enterprise with 1,400 employees, it has been deeply engaged in the precision manufacturing field for nearly 30 years. Its three core businesses include: precision parts for traditional automobiles, high-end tooling and fixtures, and intelligent equipment; core components for NEVs, hydrogen fuel cells, energy storage, and liquid cooling for computing centers; and high-precision linear motion functional components for industrial machine tools and humanoid robots. Wuxi Best Precision Machinery Co., Ltd., established in 1997 and listed on the Shenzhen in 2017, is a national high-tech enterprise with 1,400 employees. It has been deeply involved in the precision manufacturing field for nearly 30 years. Its main businesses include three core areas: precision parts for traditional automobiles, high-end tooling and fixtures, and intelligent equipment; core components for new energy vehicles, hydrogen fuel cells, energy storage, and liquid cooling for computing centers; and high-precision linear motion functional components for industrial machine tools and humanoid robots. The company has three major production sites in Wuxi, Anhui, and Thailand, achieving large-scale R&D and mass production. It possesses a fully vertical industry chain encompassing mold making, casting, and machining, with annual revenue exceeding 1.5 billion yuan. Its clients include globally renowned enterprises such as Garrett, Cummins, and BMW. In 2024, it established BYH New Technology Co., Ltd. in the AMATA Industrial Park (Phase II) in Chonburi, Thailand, covering an area of 80,000 m², specializing in precision casting and machining. The company has three major production sites in Wuxi, Anhui, and Thailand, achieving large-scale R&D and mass production. It possesses a fully vertical industry chain encompassing mold making, casting, and machining, with annual revenue exceeding 1.5 billion yuan. Its clients include globally renowned enterprises such as Garrett, Cummins, and BMW. In 2024, it established BYH New Technology Co., Ltd. in the AMATA Industrial Park (Phase II) in Chonburi, Thailand, covering an area of 80,000 m², specializing in precision casting and machining. Main Products Leveraging its mature processes, comprehensive quality control, and intelligent workshops, the company provides customized products and intelligent manufacturing solutions. It sincerely invites clients from all sectors to discuss cooperation and achieve win-win development! Leveraging its mature processes, comprehensive quality control, and intelligent workshops, the company provides customized products and intelligent manufacturing solutions. It sincerely invites clients from all sectors to discuss cooperation and achieve win-win development! Contact Contact Contact Us Wu Chaojun wuchaojun@smm.cn

Today, the most-traded BC copper contract 2606 opened at 92,280 yuan/mt, fluctuated upward to probe 92,850 yuan/mt in early trading, then moved sideways. During the day session, it opened lower with a gap to touch a low of 91,550 yuan/mt, after which the copper price center gradually shifted upward, ultimately closing at 92,400 yuan/mt, down 1.7%. Open interest stood at 9,388 lots, down 44 lots from the previous trading day, with trading volume at 7,146 lots, indicating bulls reducing positions. Macro perspective, US inflation data rebounded while Strait of Hormuz transit disruptions pushed up international oil prices, intensifying market concerns over rising inflation. Rate hike expectations within the year strengthened again, overall bearish for copper prices. Meanwhile, rising US Treasury yields drove the US dollar to continue strengthening, further suppressing upside room for copper prices. Fundamentals side, on the supply end, imported copper arrivals were relatively low, while domestic spot cargo sources saw some increase. Demand side, as copper prices pulled back, downstream enterprises' purchasing enthusiasm recovered, with marginal improvement in actual market transaction demand. Inventory side, as of Monday, May 18, SMM copper inventories in major regions across China decreased 400 mt WoW to 242,900 mt, with total inventory up 103,700 mt compared to the same period last year from 139,200 mt. SHFE copper 2606 contract closed at 104,330 yuan/mt. Based on the BC copper 2606 contract at 92,400 yuan/mt, its after-tax price was 104,412 yuan/mt. The price spread between SHFE copper 2606 contract and BC copper was -82, maintaining an inversion, and narrowed notably from the previous day.

Today Iron ore futures trended weaker with the most-traded contract I2609 closed at 803 yuan/mt, down 1.11% from the previous trading session. Port spot prices were 2-4 yuan higher than the previous day. Traders showed moderate enthusiasm in offering; steel mill purchases were mostly driven by rigid demand; overall spot trading sentiment was lukewarm.

SMM News Flash: [HRC] Today, HRC export prices decreased by 3 USD/tonne compared to the previous month. Some large factories in the north still maintain a high quotation level of 530 USD/tonne because there are still some orders for special specifications, and large factories have no obvious willingness to reduce prices and ship. [India] Indian HRC SAE1006 offers to Vietnam declined sharply to $580/t CFR for June shipments as sellers lowered prices to remain competitive. Vietnam continued to be a key target market for Indian exporters amid weaker demand elsewhere. Market sentiment remained cautious, with Indian exports facing pressure from falling EU prices and uncertain recovery in the Middle East market.

[China Domestic Iron Ore Brief] This week, the pre-tax acceptance price for 64-grade alkaline concentrate (dry basis) at mines and beneficiation plants in Shandong was quoted at 909, up 5. Steel enterprises raised prices accordingly. Most miners maintained normal production, with a few experiencing slight inventory buildup, while most sold output as it was produced. Local steel mills currently mainly purchased as needed. Hebei steel mills had a better purchasing pace than local steel mills. Low-grade resources from small mills and traders saw relatively good transactions, and overall market transactions were moderate. However, iron ore futures showed a relatively weak trend recently.

Korea’s auto industry maintained solid exports and production in 2025, but its 2030 competitiveness will depend on EV transition execution. The domestic market has matured, while hybrids have become a defensive pillar. EV adoption remains below the government’s target, and U.S.-EU policy pressure and Chinese EV competition are reshaping export strategies. Future competitiveness will hinge on pricing, localization, battery sourcing, and charging and safety confidence.

[SMM Steel] The European Commission released a draft regulation clarifying how importers can deduct carbon costs already paid in third countries from CBAM certificate obligations. The draft outlines detailed rules covering carbon price calculation methods, verification procedures, supporting documents, and supply chain traceability requirements. Under the proposal, companies can offset carbon taxes, carbon fees, or ETS costs paid in the production country only if the costs are directly linked to product emissions, exclude government subsidies or rebates, and are supported by transparent and verifiable emissions data. The regulation is expected to become a key supporting framework for CBAM’s full operational phase.

Mineral Resources Limited (MinRes) announced the restart of its wholly-owned Bald Hill lithium mine, citing sustained recovery in lithium prices. The mine was placed on care and maintenance in Nov 2024 to preserve 58.1Mt at 0.94% Li₂O.Located in Western Australia's Goldfields, Bald Hill has capacity of ~165,000 dmtpa of 5.1% spodumene concentrate (140,000 dmt SC6). Using existing inventory, equipment and workforce networks, MinRes can resume operations safely and quickly.Site activities ramp up in late May, crushing and mining start in June, first concentrate in July. First shipment from Port of Esperance expected Q1 FY27, full capacity Q2 FY27. Restart costs (incl. working capital) estimated at A$20m, incurred in Q4 FY26. FY27 guidance to be provided in August.

The most-traded HRC contract fluctuated downward today, closing at 3,429 at the end of the session, down 1.04% intraday. HRC spot prices dropped 10-20 yuan/mt today. In terms of supply, some rolling lines resumed production after maintenance this week, and HRC production edged up WoW, but the pressure remained moderate. Demand side, spot transactions were lackluster today. As futures pulled back, demand from futures-spot arbitrage and speculation weakened, with the market dominated by low-price purchases. Cost side, iron ore was in a pattern of strong supply and demand, while coking coal and coke performed on the weaker side, and cost support remained weak. Looking ahead, the supply-demand imbalance in HRC was relatively small, but caution was still needed in the short term .....

Driven by rising alloy costs, Nippon Steel Stainless Steel (NSSC) raised its May prices for 300-series stainless steel by JPY10,000/ton and 400-series by JPY5,000/ton. May benchmark prices for nickel and chromium were raised to US$7.96/lb and US$1.63/lb, up 2.6% and 1.8% respectively.