[SMM Stainless Steel Flash] Wuzhou Yongda Awarded Central Funding; 600kt/a Scrap Recycling Project Approved

EVE announced that its subsidiary Hubei EVE Power Co., Ltd. plans to sign a contract with the Shayang County People's Government and the Administrative Committee of Jingmen High-tech Industrial Development Zone to cooperate on matters related to EVE Power's investment in and construction of a 60 Gwh power and ESS battery project in Jingmen City. The project is planned with a total investment of 6 billion yuan to build a 60 Gwh power and ESS battery project. The board of directors authorized the company's management to handle all subsequent matters related to this project and sign the procedures and documents related to this project.

According to an order from the Indian Ministry of Steel on March 31, 2026, the government has officially granted an exemption from mandatory input adherence for three specific Indian Standards of stainless steel flat products. This exemption specifically applies to products falling under IS 6911, IS 5522, and IS 15997. The Ministry noted that this decision was made in response to representations received from stainless steel importers. The exemption will be valid for all imports possessing a Bill of Lading with a "shipped on board" date on or before September 30, 2026.

Shandong Xinbaocheng Heavy Industry is accelerating its 80,000-ton heavy steel structure project, a key link in the regional stainless and special steel supply chain. With a 350 million yuan investment, the facility began construction in February 2026. The first workshop is slated for June, with full production expected by December.