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...
Grow with
AL Circle
The US steel and aluminium tariff has come into effect from March 12, and in response to it, the European Commission has launched immediate countermeasures on US imports into the European Union (EU). In a decisive retaliation against the US steel and aluminium tariffs, the European Commission has unveiled a package of countermeasures targeting US imports worth up to EUR 26 billion. The move signals a firm stance: if the US chooses to escalate the trade conflict, the EU will respond with equal force. Persuasion strategy tastes the dust President Donald Trump’s latest tariffs, a steep 25 per cent on industrial steel and aluminium imports — took effect on March 12, impacting an estimated USD 28 billion in EU exports. This isn’t entirely unexpected. Trump has long expressed his scepticism of...
Laminazione Sottile, one of the leading European players in the aluminium transformation industry, renowned for producing high-quality rolled products like coils, sheets, and circles, has officially accepted the new hot finishing mill at its Caserta plant in Italy. Image Source: Mino The acceptance was followed by a rigorous phase of trial production and performance testing. Supplied by MINO, this advanced mill enhances the facility’s capabilities, positioning it as one of the few plants globally that can cast 600 mm slabs and roll them to ultra-thin gauges using equipment from a single manufacturer. The Caserta plant alone produces over 120,000 tonnes of aluminium annually, offering coil, sheet, and circle products with thicknesses ranging from 6 mm to an ultra-thin 6 microns. For more...
Rio Tinto and Edify Energy have signed two new solar and battery hybrid services agreements (HSAs) to increase the supply of reliable, competitively priced electricity to Rio Tinto’s Gladstone aluminium operations in Queensland. Image from Rio Tinto's website for representational purposes only Under the agreements, Rio Tinto will purchase 90 per cent of the power and battery storage capacity generated by the Smoky Creek & Guthrie’s Gap Solar Power Stations for 20 years. Edify Energy will build, own, and operate the projects, with construction due to begin in late 2025 and targeting completion in 2028. Located in Central Queensland, the adjacent Smoky Creek & Guthrie’s Gap Solar Power Stations, will together feature 600MWac 1 of solar and 600MW / 2,400MWh of battery storage. Rio Tinto...
Futures Market: During the night session, the most-traded alumina 2505 futures contract opened at RMB 3,180 per tonne, with a high of RMB 3,184 per tonne and a low of RMB 3,142 per tonne, closing at RMB 3,152 per tonne, down RMB 17 per tonne or 0.55 per cent. Open interest stood at 214,000 lots. Ore Market: As of March 11, the SMM Imported Bauxite Index was reported at USD 93.39 per tonne, down USD 1.35 per tonne from the previous trading day. This was mainly due to recent transactions in the Guinean bauxite market at USD 92-95 per tonne, with some buyers' target prices dropping to USD 80-85 per tonne and a few supplier offers below USD 90 per tonne. The SMM Imported Bauxite Index price was adjusted downward accordingly. The CIF average price of Guinean bauxite was USD 91 per tonne, down...
The 13 th International Bauxite, Alumina & Aluminium Conference & Exhibition (IBAAS-IMMT-IIM 2025) is set to take place during October 8-10, 2025, in Bhubaneswar, India. In association with the Institute of Minerals and Materials Technology (CSIR-IMMT) and the Indian Institute of Metals (IIM), Bhubaneswar Chapter, the event will bring together global experts, researchers, and industry leaders to discuss the latest advancements in the aluminium sector. This year’s conference theme, “A Green and Smart Aluminium Industry for Tomorrow,” underscores the industry’s commitment to sustainability, digitalisation, and innovation. As the aluminium sector undergoes rapid transformation, the conference will serve as a crucial platform for addressing challenges and exploring cutting-edge developments...
A couple of days after implementing the 25 per cent tariff on all aluminium and steel imports, US President Donald Trump exempted neighbouring nations Canada and Mexico from tariffs, but only for commodities included in the trade agreement of 2019 — the United States-Mexico-Canada Agreement (USMCA). However, the tariff payments made between March 4 and March 6 — when importers had already paid for goods in transit — will not be refunded, according to White House officials. Image source: https://mr.usembassy.gov/ In a fresh twist, mere hours after threatening to end Canada's exemption, the US has now imposed a staggering 50 per cent tariff just as Canada attempted to negotiate by leveraging energy supply tariffs from them to the US. Official statements regarding the exemption are...
Emirates Global Aluminium (EGA), the world’s largest producer of premium aluminium, revealed its financial and operational results for 2024, showcasing increased revenue and Adjusted EBITDA, driven by higher alumina and hot metal production, cost optimisation, and increased share of value-added product sales. A notable rise in low-carbon CelestiAL aluminium production and secondary metal output was another key highlight in the results. Financial and operational results EGA reported that its annual revenue increased by 1.69 per cent in 2024, amounting to AED 30 billion ($8.2 billion) versus AED 29.5 billion ($8.0 billion) in 2023. The company’s Adjusted EBITDA was AED 9.2 billion ($2.5 billion), reflecting a surge of 19.48 per cent from AED 7.7 billion ($2.1 billion), attributed to higher...
Futures Market: Overnight, the most-traded SHFE aluminium 2504 contract opened at RMB 20,880 per tonne, hitting a high of RMB 20,910 per tonne and a low of RMB 20,810 per tonne, before closing at RMB 20,830 per tonne, up RMB 75 per tonne or 0.36 per cent. On Tuesday, LME aluminium opened at USD 2,685 per tonne, reached a high of USD 2,711 per tonne and a low of USD 2,669 per tonne, and closed at USD 2,704 per tonne, up USD 17.5 per tonne or 0.65 per cent. Macro Perspective: (1) The Party Committee of the China Securities Regulatory Commission held an expanded meeting to thoroughly study the important speeches of President Xi Jinping during the Two Sessions and the spirit of the Two Sessions, and to plan specific measures for implementing the capital market's development. The meeting...
Are you excited? iPhone has again created hype among the audience with its upcoming iPhone 17 pro leaks earlier this year. As per the latest information the upcoming model is touted to showcase more upgraded specifications. Apple’s iPhones have consistently set the pace, redefining the boundaries of technology and design. With the rumours of the much-awaited iPhone 17 pro around the corner, rumours suggest that the flagship smartphone is set to debut with a sleek, redesigned aluminium frame, an expanded camera island, and the cutting-edge A19 Pro chip. Meanwhile, Apple’s 2025 lineup could also welcome the ultra-slim iPhone 17 Air, blending style with performance. Although the iPhone 16 series is still fresh and a top seller, tech analysts and Apple enthusiasts are already buzzing with...
The aluminium trade scammer involved in the metal inventory fraudulence in China that havocked more than USD 1 billion in losses nationwide businesses has been sentenced to life imprisonment by a judicial court in the eastern province of Zhejiang. Image for representational purposes only Chen Xi, who managed quite a few trading houses and warehousing firms, was jailed in June 2022 over his involvement in a high-profile over-pledging ruse when borrowers discovered that the metal they had invested in was nothing but thin air. As mentioned by Bloomberg, the court decree quoted him as the architect and directed Xi’s personal possessions to be seized by the state. This tops the string of high-profile metal fraud controversies that shocked the industry in the past years. Chen’s stance was about...
US President Donald Trump is keeping the global aluminium market on edge for sure with his eccentric decisions on tariffs. For the first time in history, a single day saw both the announcement and the reversal of tariffs. On Tuesday, March 11, the President announced his plan to double tariffs on Canada to 50 per cent, with immediate effect—only to retract his decision moments later. Why at all did Mr President decide to raise tariffs, escalating the ongoing trade tensions with his neighbouring country, and then what led him to backtrack so quickly? Donald Trump's decision to double aluminium tariffs on Canada followed Ontario's announcement to place a 25 per cent surcharge on electricity, a move that could serve as a hurtful retaliatory measure potentially impacting three big US states:...
Aluminium ADC12 alloyed ingot prices moved up m-o-m across both northern and southern India in March 2025, according to BigMint's benchmark assessment. This marks a six-month high, amid steadily rising scrap prices. BigMint's monthly assessment for the OEM grade of ADC12 stood at INR 217,000 per tonne in Delhi, rising by INR 7,000 per tonne m-o-m, and INR 216,000 per tonne in Chennai, up by INR 6,000 per tonne m-o-m. Tense-grade scrap prices rose by around INR 8,000/t m-o-m, driving an upward movement in ADC12 prices as well. The spread between scrap and semi-finished products narrowed to INR 32,000-33,000 per tonne, showing a decline compared to the previous month. Meanwhile, three-month London Metal Exchange (LME) aluminium prices increased by USD 45-50 per tonne m-o-m to around USD...
Futures Market: During the night session, the most-traded alumina 2505 contract opened at RMB 3,192 per tonne, reached a high of RMB 3,225 per tonne and a low of RMB 3,192 per tonne, and finally closed at RMB 3,196 per tonne, up RMB 2 per tonne or 0.07 per cent. Open interest stood at 201,000 lots. Ore Market: As of March 11, the SMM imported bauxite index was reported at USD 94.74 per tonne, unchanged from the previous trading day. The SMM Guinea bauxite CIF average price was USD 93 per tonne, also unchanged, while the SMM Australia bauxite CIF average price was USD 91 per tonne, remaining flat as well. Spot Alumina: On Tuesday, 2,000 tonnes of alumina was traded in Shandong at a transaction price of RMB 3,265 per tonne. Industry News: (1) Hydro Energi AS signed a long-term power...
The Aluminium Federation (ALFED) has today raised serious concerns about the incoming 25 per cent tariffs on aluminium imports into the US, set to take effect on 12th March 2025. Image Source: ALFED Following extensive discussions with the UK Department for Business and Trade (DBT) and Sarah Jones MP, Minister of State at both the Department for Energy Security and Net Zero and the Department for Business and Trade, ALFED has outlined the significant challenges already facing the UK aluminium sector and the potential long-term implications for the industry. Immediate Concerns and Sector Impact The US is a vital export market for UK aluminium, accounting for 10 per cent of all exports in 2024, valued at £225 million. ALFED members have already reported early signs of market disruption....
Good news is on the horizon for China's domestic aluminium smelters, as they are poised to see higher profits due to two contrasting sequences – 1) a drop in alumina prices and 2) an increase in primary aluminium prices driven by increased demand in the solar energy and automobile sectors. According to the Shanghai Metals Market (SMM) survey, China's domestic alumina prices have decreased to RMB 3,357 per tonne (USD 462.36 per tonne) as of March 11 from a record high of RMB 5,770 per tonne (USD795 per tonne) in 2024. Image - Chinalco smelter Going forward, China's average alumina price in the spot market is likely to reach even below RMB 3,000 per tonne, the weakest since the end of 2023, as projected by Zhang Meng, an analyst with AZ China Ltd. This shift in Chinese aluminium raw...
The talented design team at Mopar has created an exclusive, limited-edition and collectable vehicle for enthusiasts who want to set bold new performance limits for off-roading machines in 2025. The Mopar '25 Package for the Ram 1500 RHO, with exclusive content inside and out, continues the annual factory-vehicle customization program, now in its 16th year, for the performance and service brand of Stellantis. Image Source: https://www.prnewswire.com/ "The inspiration for the new Mopar '25 flows directly from the concept truck we showed at the SEMA Show last November, which generated strong positive feedback on how well the Ram 1500 RHO was 'Moparised' by our design team," said Darren Bradshaw, senior vice president, Stellantis Parts and Services – North America. "We're proud to continue...
A new state-of-the-art aluminium cans manufacturing and beverage bottling plant is set to begin operations in Uzbekistan. Backed by East Can Solutions, a foreign-invested enterprise, the upcoming facility is expected to begin operations in June 2025. With a total investment of $90 million, including an $18 million loan from the International Finance Corporation (IFC), the plant aims to reduce reliance on imported aluminium packaging while opening new opportunities for the country to access international markets. This will also drive export growth. Around 30 per cent of the plant's output will be supplied to Russia, Kazakhstan, and other CIS countries, with potential annual export revenues reaching $50 million. Located within the "Yangi Avlod" Free Economic Zone in Tashkent, the facility...
Today, the most-traded SHFE aluminium 2504 contract opened at RMB 20,905 per tonne, with a high of RMB 20,925 per tonne, a low of RMB 20,615 per tonne, and closed at RMB 20,845 per tonne, down 0.12 per cent. Trading volume was 17 lots, and open interest was 172,000 lots. SMM Comments: On the macro side, endless tariff disputes have raised concerns about a potential US economic recession. The market is also focusing on the US Consumer Price Index data to be released on Wednesday and the Producer Price Index on Thursday. Traders have fully priced in the possibility of a US interest rate cut in June. Fundamentals side, domestic aluminium production resumption is progressing, with capacity expected to be released by the end of March. Inventory side, after the weekend, domestic aluminium ingot...
