[Live Broadcast of Silver Conference: Economic Situation Analysis, Precious Metal Price Interpretation, Prospects for PV Applications, and Sharing of Cutting-Edge Technologies in the Industry] ► Basic Analysis of the Current Economic Situation ► Analysis of China's Copper, Lead, and Zinc Resource Security Capabilities ► Trend Analysis of Silver and Gold Prices ► Current Status and Prospects of Silver Applications in the PV Industry ► Exploring Cutting-Edge Solutions for Innovative PV Silver Recovery Technologies ► Exploring the Innovation-Driven Advancements in Cutting-Edge Technologies and Intelligent Equipment for Precious Metal Recovery and Refining ► Roundtable Discussion: Current Opportunities and Challenges for Silver ► Current Status and Development Trends of China's Silver Nitrate Industry Technology Market ► Global Demand and Trend Prospects for PV Silver Paste

[SMM Morning Lead Meeting Summary: Macro Bullish Factors Continue to Fester, Lead Prices May Continue to Hold Up Well in the Short Term] On the fundamentals side, the downstream consumption of the lead market is unlikely to show remarkable performance. Despite expectations for production cuts on the supply side, under the background of the off-season for battery consumption, both supply and demand in the lead market have declined, with significant support at the bottom of lead prices. Macro bullish factors continue to fester, and lead futures may still hold up well in this atmosphere. This week, suppliers will still focus on selling spot cargo, with some suppliers expanding their discounts to sell off, but there is more wait-and-see attitude from the downstream...

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 14 May, 2025

[SMM Shanghai and Other 1# Lead Markets: SHFE Lead Consolidates, Regional Spot Market Transactions Improve] SMM News on May 14: In the Shanghai market, Chihong lead is priced at 16,865-16,915 yuan/mt, with a discount of 50-20 yuan/mt against the SHFE lead 2506 contract or quoted on par with the SHFE lead 2505 contract. Honglu lead is priced at 16,915-16,935 yuan/mt, quoted on par with the 2506 contract. In the Jiangsu-Zhejiang region, JCC lead is priced at 16,895-16,935 yuan/mt, with a discount of 20-0 yuan/mt against the 2506 contract. SHFE lead maintains a consolidation trend, with suppliers selling at market prices, and some discounts have widened again...

[SMM Lead Midday Review: Few Quotations from Refined Lead Suppliers, Sluggish Spot Order Market] SMM reported on May 14: In the morning, only a few enterprises offered quotations, with ex-factory prices at a premium of 50 yuan/mt against the SMM 1# lead average price. Downstream enterprises showed average willingness to inquire about prices.

[SMM Morning Lead Meeting Summary: Macro Factors Bullish vs. Off-Season Consumption, Lead Prices Continue to Consolidate at High Levels] Driven by sustained macro bullish factors, lead prices held up well overnight. This week, suppliers have been focusing on selling spot cargo. Yesterday, market transactions improved slightly, with suppliers showing low willingness to transfer to delivery warehouse. Recently, expectations for production cuts in secondary lead smelters have not yet eased. It is still necessary to continue to monitor changes in scrap batteries and the movement of delivery brands transferring to delivery warehouse. ...