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  Production cuts in aluminum billets trigger the conversion of liquid aluminum, with the operating rate of primary aluminum alloy expected to receive structural support in July [SMM analysis]

  [SMM Analysis: Aluminum Billet Production Cuts Trigger Conversion of Liquid Aluminum, with Primary Aluminum Alloy Operating Rate Expected to Receive Structural Support in July] In June, the operating rate of China's primary aluminum alloy industry was 50.9%. After excluding the impact of inconsistent operating days from May, it decreased by 1.2% MoM, with the off-season atmosphere becoming increasingly pronounced. In June, the PMI of the primary aluminum alloy industry was recorded at 36.5%, a significant drop of 5 percentage points MoM from May. It remained below the 50 mark and the contraction deepened, indicating a notable increase in downward pressure on the industry. The core contradiction lies in weak domestic demand and cost suppression...

• [SMM Analysis] Futures prices rose, stabilizing market confidence. Next week, Shanghai's non-oriented electrical steel market will operate steadily for the time being.

  [Futures market rises, stabilizing market confidence; Shanghai's non-oriented electrical steel to remain stable next week] This week, the price of cold-rolled non-oriented electrical steel in Shanghai remained stable, with overall market transactions being generally average. Market feedback indicates that there was a significant rise in the futures market this week, but electrical steel traders remained cautious, adhering to stable pricing and prioritizing shipments. With fierce competition in the non-oriented electrical steel market, it was difficult to boost prices. In July, there was significant pressure on orders for non-oriented electrical steel, with some manufacturers offering substantial price discounts, prompting traders to purchase in small quantities. Downstream industries are in the off-season for demand, with motor enterprises primarily replenishing inventory as needed. In summary, it is anticipated that Shanghai's non-oriented electrical steel will remain stable next week.

• EHang, Tsinghua University establish joint research institute to advance low-altitude aviation technology

  The institute aims to create a new model for industry-academia cooperation and serve as a hub for innovation in low-altitude aviation technologies.

• Mirattery, CATL forge strategic partnership to accelerate innovation in battery asset management, swapping ecosystem

  The agreement aims to deepen cooperation across capital investment, technology innovation, and business model development.

• Windrose secures major electric heavy-duty truck order in Chile

  The first batch has already received down payments and is scheduled for delivery starting later this year.