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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Ardagh Metal Packaging (AMP), a global leader in supplying sustainable and infinitely recyclable metal beverage cans, has reported strong financial outcomes for 2024, supported by robust operations and a comprehensive sustainability strategy. Image source: Ardagh Metal Packaging Backed by 4 per cent growth in European beverage can shipments and 2 per cent in American shipments, the Luxembourg-headquartered company achieved a revenue of $4,908 million in 2024, up by 2 per cent Y-o-Y from $4,812 million in 2023. The European business unit contributed USD 2,161 million to the Group's annual revenue, while the Americas business unit added USD 2,747 million. Ardagh's Adjusted EBITDA grew by 12 per cent from $600 million to $672 million, resulting in a minimised loss per share. According to the...
Emirates Global Aluminium (EGA), the world’s largest producer of premium aluminium, depends on uninterrupted plant operations to maintain around-the-clock metal production. To enhance operational efficiency and safeguard continuous performance, EGA implemented a hybrid cloud strategy powered by Azure Arc. Azure, a Microsoft product acts as a bridge, extending the Azure platform to enable seamless application and service development across data centres, edge locations, and multi-cloud environments. It empowers to build cloud-native solutions with a unified approach to development, operations, and security, ensuring consistency wherever your workloads run. As per the report published by Microsoft, by leveraging a hybrid infrastructure managed by Azure Arc, EGA seamlessly integrated its...
Hydro Energi AS has entered into a long-term power purchase agreement (PPA) with NTE, securing a total delivery of 660 GWh of electricity from 2027 to 2029. This agreement will contribute to Hydro Energi's overall power portfolio, which includes 9.4 TWh of annual captive power production and a long-term contract portfolio of approximately 10 TWh. Image Source: Hydro website The contract is set to run from January 1, 2027, to December 31, 2029, with deliveries in the NO3 price area. As a key player in the Nordic power market, Hydro Energi is responsible for sourcing renewable electricity to support Hydro's aluminium production. Access to renewable energy is crucial for producing low-carbon aluminium in Norway, resulting in a carbon footprint around 75 per cent lower than the global...
It’s a tale of two markets, wherein aluminium alloy ingot prices in China are stuck in the mud owing to downsized demand, and the US is witnessing an explosive spike, fuelled by tariffs and supply strains. Let’s break down what’s happening on the opposite sides of the globe. China is stuck in a demand drought In late February 2025, aluminium alloy ingot prices in China dipped by 0.4 per cent, dragged down by one relentless factor — weak demand. Market participants report that even though work has resumed across upstream and downstream sectors, overall demand remains painfully soft. The result? A glut in supply coupled with meek demand from across the nation’s businesses ultimately kept the prices firmly range-bound. According to Shanghai Metals Market data, On February 18, secondary...
Futures Market: During the overnight session, the most-traded alumina 2505 futures contract opened at RMB 3,195 per tonne, reached a high of RMB 3,206 per tonne, a low of RMB 3,181 per tonne, and closed at RMB 3,197 per tonne, down RMB 8 per tonne or 0.24 per cent, with an open interest of 201,000 lots. Ore Market: As of March 10, the SMM imported bauxite index stood at USD 94.74 per tonne, down USD 0.4 per tonne from the previous trading day, mainly due to transactions of Guinean bauxite with mainstream grades at USD 93 per tonne, leading to a lower price centre for the index. The SMM CIF average price for Guinean bauxite was USD 93 per tonne, unchanged from the previous trading day, while the SMM CIF average price for Australian bauxite was USD 91 per tonne, also unchanged. Spot...
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), today announced that its margins have expanded significantly due to surging prices for scrap steel – already up 20 per cent since early February and expected to go higher – ahead of steel and aluminum import tariffs taking effect on March 12, 2025. Image Source: https://www.prnewswire.com/ Greenwave operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio, providing 100 per cent domestically-sourced scrap metal to Nucor, Sims, Cleveland-Cliffs, Georgia-Pacific, alongst other industry titans. Prices for scrap steel have surged more than 20 per cent the past month and are expected to go higher Through its wholly-owned subsidiary, Empire, Greenwave operates the #1 scrap metal chain in...
Zeolites, crystalline materials essential to the petrochemical industry, play a crucial role as catalysts in producing fine chemicals. Aluminium atoms within the zeolite framework create active sites that drive these catalytic reactions. Researchers at The Hong Kong Polytechnic University (PolyU) have pinpointed the precise location of aluminium atoms in the zeolite structure. This breakthrough could enable the design of more efficient and durable catalysts. This advancement has the potential to: enhance petrochemical production, improve renewable energy storage, aid in air pollution control, expanding the applications of zeolites across various industries The team's findings have been published in the journal Science. The research was led by : Shik Chi Edman Tsang (Chair Professor of...
Futures: Last Friday, the SHFE aluminium 2504 contract opened at RMB 20,855 per tonne, with a high of RMB 20,920 per tonne and a low of RMB 20,790 per tonne, closing at RMB 20,880 per tonne, down RMB 5 per tonne or 0.02 per cent from the previous settlement. On the same day, LME aluminium opened at USD 2,699 per tonne, reached a high of USD 2,711 per tonne and a low of USD 2,675.5 per tonne, and closed at USD 2,689 per tonne, down USD 14 per tonne or 0.52 per cent. Macro: (1) In February, US non-farm payrolls increased by 151,000, slightly below market expectations. The unemployment rate rose to 4.1 per cent, the highest since November 2024, compared to an expected 4 per cent and a previous value of 4 per cent. (Bullish★) (2) The Office of the Customs Tariff Commission of the State...
According to the International Aluminium Institute (IAI) survey, the world alumina production (including chemical-grade alumina) in January 2025 showed a slight month-on-month decline, totalling 12.83 million tonnes versus 12.852 million tonnes in December 2024. Probing into the output A closer look at the monthly alumina production reveals that metallurgical-grade alumina output remained stable at 12.111 million tonnes in January 2025, compared to 12.116 million tonnes in December 2024. Chemical-grade alumina production, on the other hand, registered a 2.31 per cent fall M-o-M from 736,000 tonnes to 719,000 tonnes, leading to a downfall of overall alumina production in January.The world’s daily average metallurgical-grade alumina production in January 2025 was 390,700 tonnes, compared to...
A major fire broke out at an aluminium items manufacturing unit in Ramreddy Nagar, located in the industrial area of Jeedimetla, on Friday. Fortunately, no casualties were reported, and the cause of the fire remains under investigation, according to police reports. Workers at the facility noticed the flames and quickly evacuated to safety, while local residents promptly alerted the fire department and police. The blaze intensified when plastic drums filled with crude oil and chemicals caught fire, producing thick, dark smoke and accelerating the spread of the flames throughout the unit. With the support of three fire engines, firefighters worked alongside police officials to extinguish the blaze, successfully bringing it under control within approximately two hours. Local residents...
In a period defined by high-stakes trade battles and international power plays, few episodes have captured as much attention as the Trump administration’s sudden decision to postpone tariffs on Canada and Mexico. With a punchy mix of economic strategy and geopolitical manoeuvring, this move has been dissected from every angle—from trade negotiations to resource security and even to controversial diplomatic meetings with Ukraine. In a clear-cut policy shift, the Trump administration announced that the planned tariffs on key imports from Canada and Mexico, tariffs initially slated to hit the markets with full force, would be delayed. Official statements at the time emphasised that this postponement was meant to provide room for further trade negotiations and to secure better terms for US...
Tata Power shares surged by 3 per cent in early trading on Monday, hitting an intraday high of INR 361.85 on the BSE. The rise followed an announcement that its subsidiary, Tata Power Renewable Energy Ltd (TPREL), had signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop renewable energy projects worth INR 49,000 crore ($ 5.6 billion). Image Source: TPREL page on Twitter Under the agreement, TPREL and the state government will collaborate to explore opportunities for establishing up to 7,000 MW of renewable energy capacity, including solar, wind, and hybrid projects, with or without storage solutions. Last month, Tata Power signed a Memorandum of Understanding (MoU) with the Assam government during Advantage Assam 2.0 to develop up to 5,000 MW of...
According to data from March 7, the weekly total bauxite port arrivals at Chinese ports reached 3.889 million tonnes, a decrease of 681,400 tonnes compared to the previous week. The weekly total bauxite port departures from Guinea's main ports were 3.2182 million tonnes, down by 898,500 tonnes from the previous week. The weekly total bauxite port departures from Australia's main ports were 836,200 tonnes, a decrease of 39,200 tonnes compared to the previous week. Overall, the average weekly port departures of bauxite from Guinea's main ports were 3.19 million tonnes per week in January (5 weeks) and 3.47 million tonnes per week in February (4 weeks), showing an overall increasing trend in Guinea's bauxite shipments. It is expected that Guinea's bauxite imports may show an increasing trend...
Genesis today announced US pricing for the newly redesigned 2026 GV70 SUV. Starting from a manufacturer’s suggested retail price (MSRP)* of $47,985, the 2026 GV70 embraces Genesis' “Athletic Elegance” design philosophy by offering consumers the perfect blend of utility and refinement. Image Source: https://www.genesis.com/ “GV70 is the most popular Genesis model in North America and the 2026 model year updates bring even more excitement to our SUV lineup,” said Tedros Mengiste, chief operating officer of Genesis Motor North America. "With its athletic appearance, an updated cabin and elevated driving experience, we look forward to welcoming even more customers into our growing GV70 family." The 2026 GV70's exterior design has been elevated with enhanced details, such as the redesigned...
During the February cycle (February 6 to March 6), despite the increased support from raw material costs, aluminium fluoride prices still experienced a significant decline due to the impact of previous price drops and the continued weakness in downstream demand. As of now, SMM aluminium fluoride prices closed at RMB 9,900-10,600 per tonne, while SMM cryolite prices were quoted at RMB 6,500-7,200 per tonne. Image Source: https://proluke.com/alfluoride/ On the raw material side, for fluorite, the delivery-to-factory price of 97 per cent fluorite powder for aluminium fluoride enterprises is currently concentrated at RMB 3,500-3,800 per tonne. During the cycle, fluorite prices mainly increased slightly. Although overall market fluctuations were relatively small, the continued low operating...
This week has been highly eventful for the upstream aluminium industry, both for the bauxite and the primary aluminium sector. To begin with, Guinean Prime Minister Amadou Oury Bah announced that the country will restore constitutional rule in 2025, according to global media reports. He added that legislative and presidential elections are scheduled to follow a constitutional referendum within a reasonable timeframe. Indonesia has launched a new sovereign wealth fund, Daya 'Anagata Nusantara' (Danantara), with an initial commitment of US$20 billion. A major global aluminium producer has requested a premium of USD 260 per tonne from Japanese buyers for primary metal shipments in April–June (Q2), marking a 14 per cent increase from the current quarter (Q1, 2025). To know more about what...
The US Department of Commerce has reportedly determined the excessive imports of disposable aluminium containers, pans, trays, and lids from China sold at unfairly low prices in the US market. As a result, the department has set final anti-dumping duties ranging from 193.90 per cent to 287.80 per cent, along with countervailing duties of 317.85 per cent. This decisive action, backed by the Aluminum Foil Container Manufacturers Association (AFCMA), will be applicable to imports entering the US 90 days before the preliminary rulings, addressing a significant rise in Chinese imports. The findings of insurmountable volumes of imports stemmed from an investigation after petitions being filed by AFCMA and some of its members for seeking relief. Further investigations will take place by the US...
Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, marked International Women’s Day by unveiling new safety signage at its facilities with icons that features both women and men. The new safety signage highlights the growing role of women in heavy industry, and is already installed in EGA’s casthouses and potlines. It will now be rolled out across EGA. EGA is also making the designs for the new signage available to any industrial company that wishes to follow EGA’s example. The new signage is the latest initiative from ‘Break the Mould’, a campaign that aims to inspire young women with interest in science, technology, engineering, and mathematics (STEM) to follow in the footsteps of pioneering women who have contributed significantly...
