China Rare Earth Group is in talks to acquire a controlling stake in Shenghe Resources, a move that could bring the Chinese rare earth producer under tighter state control while giving Beijing influence over Shenghe’s overseas holdings, including a stake in US rare earths company MP Materials. Two sources familiar with the matter told Reuters that discussions between the companies have been underway since earlier this year. One source said China Rare Earth Group is seeking a controlling stake, although neither source knew when the acquisition could be announced or completed. If the deal goes through, China Rare Earth Group would take control of Shenghe’s interests in foreign companies, including its 3 per cent stake in MP Materials. The US rare earths company counts the US Department of...
Macro perspective: Outside China, the US Fed raised interest rates by 25 basis points to 3.75per cent-4.00per cent as expected, the first hike since July 2023, with a unanimous FOMC vote. The dot plot showed one more possible rate hike in 2026, extending the period of high interest rates. As a result, US Treasuries saw heavy selling, the US dollar and real yields rose, directly weighing on the valuation of dollar-denominated nonferrous metals. Geopolitically, tensions in the Strait of Hormuz persisted, with Iran claiming the strait was under its "smart control," and a regional shipping security meeting originally scheduled in Oman was forced to be postponed, raising energy transport and risk premiums. Overall, macro sentiment was mixed. Fundamentals: Supply side, this week, China's weekly...
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The Australian mining and exploration company Metro Mining is gearing up to commence its 2025 production and shipping operations at the Bauxite Hills Mine and Marine Divisions in Queensland, with mobilisation to the site now underway. Source: Metro Mining The company has set an ambitious target for the year, planning to ship between 6.5 and 7 million WMT of bauxite—building on its strong performance in 2024, when it recorded 5.7 million WMT, marking a notable 24 per cent increase over the previous year. With a market capitalisation of $328.9 million, Metro is aiming to load its first vessel of the year by March 17, 2025. This early start has been made possible thanks to the company’s continued investment in operational efficiency, equipment upgrades, and the completion of its...
On Monday, March 17, Hulamin, a South African company specialised in producing rolled and extruded aluminium products, reported bearish annual earnings that ended December 31 2024, alleging operational challenges as a primary cause for constraint. According to Hulamin CEO Meganathan Gounder, operational challenges and persistent pricing pressure in certain streams, such as export can stock and standards, offset the earnings improvement despite robust demand in the local market, particularly for can body. He said in a statement , "The 2024 financial year began with promise as market conditions showed significant improvement, particularly in the export segments. Demand recovery brought renewed opportunities, although pricing pressures in certain streams, such as export can stock and...
In a move that has sent shockwaves through the global economic community, US President Donald Trump has imposed sweeping tariffs, notably a 25 per cent levy on steel and aluminium imports. This aggressive stance has elicited a chorus of reactions from world leaders, each grappling with the implications for their respective economies and the broader international trade landscape. Image for representational purposes only Iran is not in agreement to bend or, fend or mend “Won’t negotiate, do whatever the hell you want”, said the Iran President to Trump. “It is unacceptable for us that they (the US) give orders and make threats. I won’t even negotiate with you. Do whatever the hell you want”, state media quoted Masoud Pezeshkian as saying. Iran’s Supreme Leader Ayatollah Ali Khamenei said on...
The Trump administration's recent tariff hike on metals imports has raised fresh concerns within Europe, as fears mount that subsidised aluminium could flood the EU market. A draft proposal from the European Commission reveals that Brussels is now weighing potential measures to curb rising aluminium imports in a bid to shield its domestic industry. Image credit: Zalco In parallel, the Commission is also considering imposing duties on exports of scrap metals—a strategic move aimed at bolstering Europe's production sector amidst mounting global competition. Last week, the US Administration imposed steep 25 per cent tariffs on steel and aluminium imports, triggering swift retaliation from the EU, which announced tariffs on up to USD 28 billion worth of American goods. While Europe already...
Futures Market: In the overnight session, the most-traded alumina 2505 futures contract opened at RMB 3,110 per tonne, reached a high of RMB 3,125 per tonne, a low of RMB 3,103 per tonne, and closed at RMB 3,119 per tonne, up 0.29 per cent. Open interest stood at 217,000 lots, an increase of 398 lots. Spot Alumina Prices: On March 17, SMM alumina was quoted at RMB 3,278 per tonne, down RMB 28 per tonne from the previous trading day. Bauxite: As of March 17, the SMM imported bauxite index stood at USD 93.39 per tonne, unchanged from the previous trading day. The SMM Guinea bauxite CIF average price was USD 91 per tonne, also unchanged, while the SMM Australia bauxite CIF average price was USD 87 per tonne, remaining flat as well. Industry News: 1. China Nonferrous Metal Industry's Sixth...
Jamalco, Jamaica’s premier bauxite mining and alumina refining enterprise, has unveiled a whopping investment of USD 70.5 million (JMD 11 billion) aimed at prolonging the operational life of its mining activities by tapping into additional bauxite reserves in Manchester. Image for representational purposes only The earmarked capital expenditure is slated for mine development and the installation of advanced equipment over a three-year span, from 2025 to 2027. This initiative is integral to Jamalco’s ‘Project Restore’, which seeks to enhance the refinery’s feed and ensure a consistent bauxite supply. Jamalco’s history of resource management relies on grade control sampling and the avoidance large reserve inventories. It utilises auger drilling for exploration, with assays or testing of the...
A reminder from President Donald Trump on Sunday, March 16: no exemptions will be granted to countries that have imposed counter-tariffs on the United States. As previously announced by the President, Canada, Mexico, Brazil, South Korea, and the European Union would face reciprocal duties starting in early April. Last month, Trump increased tariffs on aluminium and steel imports to 25 per cent with no exceptions. In response, the affected countries imposed heavy duties on US goods. Starting April 2, it is Trump's turn to retaliate by imposing tariffs on those countries, aiming to level up the playing field and protect American industries. Trump stated the US would impose tit-for-tat tariffs, matching those imposed by other countries—nothing less, nothing more. He also emphasised that the...
On March 13, 2025, Radius Recycling, Inc. announced that it had entered into a definitive merger agreement with Toyota Tsusho America, Inc. (TAI), the US subsidiary of Toyota Tsusho Corporation. Under the terms of the agreement, TAI will acquire all outstanding shares of Radius for $30.00 per share in cash, representing a premium of approximately 115 per cent over Radius’ closing share price as of March 12, 2025, and a 102 per cent premium over the 90-day volume-weighted average share price (VWAP). The implied total enterprise value of the transaction, including net debt, is approximately $1.34 billion. Image credit: Radius Recycling website Following the completion of the transaction, Radius will continue to operate under its current name from its headquarters in Portland, Oregon,...
Today, the most-traded alumina 2505 contract opened at RMB 3,130 per tonne, with a high of RMB 3,152 per tonne, a low of RMB 3,100 per tonne, and closed at RMB 3,114 per tonne, down 0.48 per cent. The trading volume was 75,000 lots, and the open interest was 217,000 lots. SMM Comments: Recently, the tug-of-war between alumina buyers and sellers continued. The spot alumina market saw sporadic transactions, with transaction prices further slightly declining, centering around RMB 3,200-3,300 per tonne. The domestic alumina export window has closed, and the total registered warrant volume in alumina futures delivery warehouses exceeded 200,000 tonnes. Subsequent alumina exports and transfers to delivery warehouses may struggle to provide sustained demand. Fundamentals side, short-term alumina...
According to the National Bureau of Statistics, China’s aggregated aluminium production through January and February 2025 amounted to 7.32 million tonnes, reflecting about 3 per cent growth year-on-year from 7.1 million tonnes. The higher Y-o-Y output could be attributed to the improved profitability of aluminium smelters in China, owing to contracted alumina prices, thanks to the ease of supply constraints. The most active alumina contract (SAOc1) on the Shanghai Futures Exchange fell over the first two months this year, ending at RMB 3,363 (USD464.81) per tonne as of February 28, down by 28 per cent from a peak of RMB 4,700 (USD 649.36) per tonne on January 2. There is a further projection of China’s primary aluminium ingot price hike through the upcoming months, further supporting the...
The Court of Appeal on March 17, 2025, upheld the forfeiture of RM44,000 (approx. USD10,000) in cash belonging to Syed Umar Khalil Syed Khalid, an assistant director of enforcement at the Pahang Land and Mines Department. The Malaysian Anti-Corruption Commission (MACC) seized the money a decade ago and discovered it hidden inside a washing machine at Syed Umar Khalil’s residence. Image Credit: New Straits Times A three-judge panel, chaired by Datuk Azman Abdullah, affirmed the forfeiture order, which had previously been granted by both the Sessions Court and the Pahang High Court. Judge Datuk Azman Abdullah stated, "This court found that there is no merit in the defence's appeal. This follows the defence's bare assertion, which failed to rebut the prosecution's case. The appellant was...
Get ready, sports fans! The World Aquatics Championships 2025 is splashing into Singapore from July 11 to August 2 and it's creating ripples for all the right reasons. For the very first time, a Southeast Asian nation is hosting this massive event, with the Singapore Sports Hub and Sentosa Island being its pride. Image source: SwimSwam But here's the highlight: The medals. They're not only shiny – they're sustainable! Here is to the "Trash to Treasure" programme, where all championship medals will be crafted from recycled aluminium cans. Now, where are all these aluminium cans coming from? The organisers have partnered with five PAP Community Foundation pre-schools, eight primary schools and three secondary schools to collect 100,000 aluminium cans. Their plan is to turn them into 5,000...
Russian aluminium boycott by Western countries, drop in product sales, particularly primary aluminium and alloys, and increased alumina costs – nothing could stop Rusal from experiencing a growth in profit in 2024. According to the company’s annual financial and operational results released on Friday, March 14, Rusal’s net profit in 2024 saw a leap of 184.75 per cent Y-o-Y from USD 282 million to USD 803 million, driven by higher prices of aluminium in the global market. The company’s gross profit stood at USD 2,821 million, up by 59.56 per cent from USD 1,768 million. Rusal’s aluminium and alumina production also successfully navigated high alumina costs, recording year-on-year growth of 3.7 per cent and 25.27 per cent. In 2024, the company produced 3.992 million tonnes of aluminium,...
The demand for aluminium in the packaging sector is primarily driven by beverage cans. Key factors fuelling the rising demand for beverage cans include the growing younger consumer base, the introduction of new product variations, and heightened environmental awareness among stakeholders. As per the data shared by Metal Packager, the global aluminium cans market is poised for significant growth. The projection suggests a hike from $61.1 billion in 2024 to $63.2 billion by 2025 and further expands to $94.5 billion by 2035. However, if we see the analysis by AL Circle, published in their report titled , "ALuminium in Packaging: Consumer trends and market dynamics", the global aluminium cans market in 2023 reached US$55.5 billion in 2023, which further escalated to US$58.2 billion in 2024....
According to data from March 14, the weekly domestic port arrivals of bauxite reached 4.145 million metric tons, reflecting a week-over-week increase of 256,000 tonnes. Meanwhile, the weekly departures of bauxite from Guinea's main ports totalled 4.593 million tonnes, an impressive rise of 1.375 million tonnes compared to the previous week. Similarly, Australia's main ports reported weekly bauxite departures of 1.127 million tonnes, marking an increase of 291,000 tonnes week-over-week. Image for referential purposes only Recently, the weekly bauxite shipments from Guinea have consistently remained high, while Australia's shipments have seen a rebound compared to earlier periods. As a result, the supply of imported bauxite to the domestic market is expected to rise. Due to the earlier...
Li Auto, a leading player in China's new energy vehicle market, has released its unaudited financial results for the fourth quarter (Q4) and full year ended December 31, 2024. image for referential purposes only The company posted total revenue of RMB44.3 billion in Q4 2024, marking a 6.1 per cent increase from RMB 41.7 billion in the same period of 2023 and a 3.3 per cent rise from RMB 42.9 billion in the third quarter (Q3) of 2024. Vehicle sales contributed RMB42.6 billion, up 5.6 per cent year-over-year and 3.2 per cent quarter-over-quarter. Despite revenue growth, profitability faced pressure. Li Auto's gross profit stood at RMB9 billion in Q4 2024, down 8.3 per cent from the prior year and 2.8 per cent from the previous quarter. In the same quarter, the company's gross margin...
Lizhong Group has achieved ASI Performance Standard V3 (2022) Certification for the production of aluminium alloy ingots and cast aluminium alloy liquid at their Guangdong Longda Aluminum Industry Co., Ltd. facility in Guangdong Province, China. Aluminium Stewardship Initiative (ASI) today announced that Guangdong Longda Aluminum Industry Co., Ltd. has been certified against the ASI Performance Standard V3 (2022). The facility’s main production processes melting, alloying, and casting design processes of aluminium alloys. Its main products include cast aluminium alloy ingots and cast aluminium alloy liquid. The facility has an annual production capacity of 100,000 tonnes. The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the...
Scatec, a leading renewables company, has entered into a 25-year corporate Power Purchase Agreement (PPA) with Egyptalum. Under this agreement, the Norwegian renewable energy company will develop a 1,100 MW solar power plant and a 100 MW / 200 MWh battery energy storage system (BESS). The total estimated capital expenditure for the project in Egypt is approximately $650 million. As the country’s largest aluminium producer and its most significant industrial electricity consumer, Egyptalum exports around 60 per cent of its production to Europe. The solar PV and BESS project will play a crucial role in the company’s efforts to decarbonise its operations and align with the EU’s Carbon Border Adjustment Mechanism (CBAM) regulations set to take effect in 2026. Scatec chief executive Terj...
