[SMM Iron & Steel] Corporate Update: Baowu Resources Finalises Control of Simandou Blocks 1 & 2

The Ministry of Commerce and nine other departments have issued the "2026 'Happy Spring Shopping' Chinese New Year Special Activity Plan." The plan proposes encouraging localities to increase the number of trade-in subsidies for consumer goods during the Chinese New Year period, enhance support for offline physical retail, mobilize enterprises to continue organizing exhibitions and sales activities related to automobiles, home appliances, digital and smart products during the holiday, guide businesses to set up product experience zones for smart terminals and other products, offer more discounts to in-store customers for trial experiences, strengthen policy interpretation and offline experiential consumption promotion, and foster a strong trade-in atmosphere.

Recently, the R&D of Jinye Huaxi Special Steel's medium-thickness plate Q355ND has been successfully completed. The product specifications cover 12–50 × 2,000–2,500 mm, with all performance indicators meeting the requirements of the GB/T1591-2018 standard, and some key parameters surpassing those of similar international products. This marks a significant breakthrough for Huaxi Special Steel in the field of low-alloy high-strength steel. The Q355ND steel plate exhibits excellent weldability, cold formability, and fatigue resistance, making it suitable for widespread application in various high-end fields such as building construction, bridge construction, marine engineering, energy equipment, and rail transportation.

[Steel Mill Maintenance] Jiujiang Pinggang commenced maintenance on a 450m³ blast furnace on January 28, with the maintenance expected to last 12 days, daily average hot metal production impact is approximately 1,700 mt [SMM Steel]