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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Aluminium Bahrain B.S.C. (Alba) has become the Sea Cargo Charter's latest signatory, strengthening the organisation's global presence in the aluminium sector and reaffirming its commitment to decarbonisation and transparency. As the world's largest single-site aluminium smelter, Alba produces around 1.62 million tonnes of aluminium and exports significant quantities of aluminium products annually to more than 270 customers worldwide. With a robust international presence, including sales offices in Zurich and Singapore and a subsidiary in the U.S., Alba serves markets across the Americas, MENA region, Europe, and Asia. Aluminium Bahrain B.S.C. (ALBA): Aluminium production, 2023-24 (in million tonnes) Source: Alba website Rasmus Bach Nielsen, Chairman of Sea Cargo Charter, said, “With the...
Hindustan Power, a leader in renewable energy focusing on the Indian market, has signed a Memorandum of Understanding (MoU) with the Government of Assam to invest INR 620 crore (US$ 70.96) in renewable energy projects. The company, led by Ratul Puri, signed the MoU for its upcoming 100 MW battery energy storage facility and 100 MW solar plants in Assam. Hindustan Power's ambitious 5 GW goal The agreement was formalised during the Advantage Assam 2.0 Investment and Infrastructure Summit held in Guwahati. Hindustan Power aims to build a 5 GW energy portfolio within the next three years, with its investment in Assam playing a key role in this growth. Ratul Puri, Chairman, Hindustan Power, said, “We are proud that Hindustan Power was the first company to develop a large solar power plant in...
Indonesia has introduced a new sovereign wealth fund, Daya ‘Anagata Nusantara or Danantara’, with an initial commitment of US$20 billion. President Prabowo Subianto launched it last week. Danantara aims to serve as both an investment vehicle and a holding company for the country’s influential state-owned enterprises. While it has the potential to boost Indonesia’s economy significantly, its success will depend on effective management and adherence to international standards. Danantara will allocate $20 billion in its first investment round to more than 20 projects spanning bauxite, nickel, copper processing, artificial intelligence development, oil refineries, renewable energy, and food production. The president made the announcement before an audience of hundreds, including foreign...
In the overnight session, the most-traded alumina 2505 futures contract opened at RMB 3,348 per tonne, reached a high of RMB 3,380 per tonne and a low of RMB 3,348 per tonne, and finally closed at RMB 3,370 per tonne, up 0.66 per cent. Open interest stood at 168,000 lots, down 5,797 lots. Regarding spot alumina prices, on March 3, SMM alumina was quoted at RMB 3,381 per tonne, flat compared to the previous trading day. Ore Market: As of March 3, the SMM Imported Bauxite Index was reported at $95.11 per tonne, down $1.15 per tonne from the previous trading day. The SMM Guinea Bauxite CIF average price was $93 per tonne, down $2 per tonne from the previous trading day, while the SMM Australian Bauxite CIF average price was $91 per tonne, down $4 per tonne from the previous trading day....
According to SMM statistics, China's aluminium production in February 2025 (28 days) increased by 0.4 per cent Y-o-Y but decreased by 95,000 tonnes M-o-M. The operating capacity of domestic aluminum increased M-o-M, mainly driven by the resumption of production at previously curtailed enterprises and the activation of replacement projects following the recovery of aluminum profits. During the Chinese New Year holiday, many aluminum plants' casting ingot output fell short of expectations. Coupled with stable downstream purchases after the resumption of work and production, the proportion of liquid aluminum in the industry rose by 1.7 percentage points MoM and 6.7 percentage points Y-o-Y to 71.0 per cent. Based on SMM's liquid aluminum proportion data, domestic aluminum casting ingot...
According to the US Geological Survey, the United States' primary aluminium production experienced a monthly fall of 2,000 tonnes or 3.51 per cent, following a 4 per cent rebound in the previous month. On an annual calculation, the output marked a sharper decline of 9.8 per cent in November, surpassing the year-on-year fall recorded in October 2024. Data revealed the United States' domestic production of primary aluminium in November 2024 was 55,000 tonnes compared to 57,000 tonnes in October and 61,000 tonnes in November 2023. Thus, the United States cumulative output of primary metal from January to November 2024 amounted to 618,000 tonnes, sharply down by 21.57 per cent from 749,000 tonnes during the corresponding period of the previous year. However, the daily average output in...
The Confederation of British Metalforming (CBM) has strengthened its offer to its 200-strong membership base with a high-profile industrial appointment. Maurice Spooner, who has over forty years’ experience in manufacturing, has joined as the organisation’s sheet metal specialist and will help companies involved in pressings and roll formed products to navigate an increasingly complex business landscape. Image Source: CBM Press Release It is a vital role considering the ongoing issues around the Carbon Border Adjustment Mechanism (CBAM) and the possibility of rising energy prices again, with the former Sertec Group and Lear Corporation expert also keen to explore opportunities for diversification and new technology. “2025 promises to be a very interesting year for our members and the CBM...
Crucial Engineering a Bradford-based company specialising in aluminium doors and security access systems has bagged a £250,000 loan from NPIF II – Mercia Debt Finance, a part of the Northern Powerhouse Investment Fund II (NPIF II), to fuel its growth. The funding will empower Crucial Engineering to take on larger projects, building on its recent expansion into bigger premises and a series of high-profile contract wins. Image Source: Crucial Engineering website The £660m Northern Powerhouse Investment Fund II (NPIF II) supports businesses across the North of England, offering loans from £25,000 to £2 million and equity investments of up to £5 million. Its mission is to drive sustainable economic growth by fostering innovation and creating local opportunities for startups and scaling...
The Mumbai-headquartered Indian multinational cement company UltraTech Cement has announced its foray into the wires and cables segment with a planned investment of around USD $200 million (₹1,800 crore) to establish a manufacturing facility in Gujarat. On February 25, 2025, the Aditya Birla Group's board approved a proposal to expand its presence in the construction value chain through its Building Products Division. The plant, set to be located near Bharuch, is part of the company's broader strategy to expand its presence in the construction value chain. According to UltraTech Cement, the facility is expected to be commissioned by December 2026. UltraTech stated that this aligns with its strategy to solidify its position as a leading provider of comprehensive building solutions. In...
Maan Aluminium Limited, a manufacturer and trader of aluminium profiles, has reached a new 52-week low, signalling industry volatility and underperformance. Performing below average in the aluminium sector by 3.63 per cent, Maan’s stock price has hit as low as INR 85.2 (US$0.98). Maan’s stock has been trending down consistently since February 25, when the price stood at INR 97.50 (US$1.12). After a brief holiday on February 26, the stock price on February 27 decreased to INR 92.74 (US$1.06) and dropped below INR 90, reaching INR 89.56 (US$1.03) on February 28. Thus, Maan Aluminium’s stock price has plunged by 12.6 per cent since February 25. The company’s performance over the past year has been challenging, seeing a decline of 41.2 per cent, representing a striking contrast with the...
Lulu Retail, a leading force in the retail industry, proudly announced the successful completion of its inaugural solar project at the Riyadh Central Warehouse in Saudi Arabia. This milestone underscores the group's dedication to sustainability, aligning with the Kingdom's Vision 2030 goals and driving progress toward a cleaner, greener future for the region. Lulu's dedication to renewable energy innovation The 502.7 kWp rooftop solar plant, developed in partnership with the Kanoo-CleanMax joint venture, is expected to produce 846 MWh of clean energy annually — cutting Lulu Group's carbon emissions by approximately 382 metric tonnes each year. This reduction is equivalent to planting nearly 9,000 trees over the next decade. The project sets a new benchmark for sustainability in the...
After the Chinese New Year, the aluminium wire and cable industry resumed production at a steady pace. This week, the operating rate of leading enterprises reached 53%, up 2 percentage points MoM, mainly due to the orderly resumption of work as planned. However, compared to the 60% operating rate in the same period of 2024, the current rate still shows a YoY decline of 7 percentage points. The weaker recovery in capacity compared to last year is mainly constrained by two factors: first, the peak delivery period for the industry has not yet arrived; second, the total volume of pending orders for delivery is lower than the same period in 2024, directly impacting operating momentum. Regarding new orders, although the State Grid's ultra-high voltage (UHV) transmission and transformation...
China continues to spearhead the global transition to renewable energy, achieving remarkable progress in 2024 with an addition of 277 GW of solar and 79 GW of wind capacity — outpacing many other nations. Image source: Freepik These new additions elevated China's total renewable energy capacity (except hydro power) to 1,407 GW, signaling a steady shift towards renewables, with solar power alone contributing 886 GW and wind power accounting for nearly 521 GW. By the end of 2024, China's renewable energy capacity accounted for 15% of the world's total installed capacity for the year alone. The rest of the world added 193 GW of solar photovoltaic capacity in 2024, with the United States contributing 163 GW and India 91 GW. Germany, Japan, Brazil, and Spain followed with additions of 91 GW,...
Pilot Energy, a leader in the clean energy transition, has partnered with South32 Worsley Alumina to conduct a feasibility study on carbon capture and storage (CCS) for its operations. Launched in the quarter of January-March 2025, the study aims to evaluate the supply chain for capturing and storing up to ~700,000 tonnes of carbon dioxide annually. It will assess the onshore conditioning, transportation, and delivery of CO₂ from the alumina refining process’s flue gas streams to Pilot’s Cliff Head Carbon Storage project. However, the study is expected to be completed by Q3 2025. Depending on the findings, the study could serve as a foundation for deeper commercial and technical discussions on Worsley Alumina's decarbonisation strategies. Additionally, the results will support Pilot's...
Neveah Limited, the Nigeria-based commodities export company, announced that its aluminium and copper waste recycling plant in Mowe, Ogun State, is set to generate significant employment opportunities. According to Ibidapo Lawal, the company’s CEO, the facility will create 40,000 direct jobs and an additional 6,000 indirect jobs for Nigerians. Lawal also highlighted the plant’s environmental impact, stating it will cut Nigeria’s carbon emissions by approximately 377,460 tonnes annually — the equivalents of taking 82,000 cars off the road. Lawal described the facility as a major milestone for Nigeria’s industrial and environmental landscape, emphasising Neveah Limited’s dedication to sustainability and economic progress. “The facility is projected to generate over $100 million in annual...
According to SMM statistics, China's automotive sheet production in 2024 totalled approximately 492,000 tonnes, an increase of about 8,000 tonnes compared to 2023. The growth rate continued to slow but remained positive. By year-end 2024, there were eight domestic companies with stable automotive sheet production capabilities, with a combined annual capacity of approximately 1 million tonnes. However, nearly 300,000 tonnes of automotive sheet capacity was still under preparation or commissioning. Currently, the domestic market primarily uses automotive sheets for the four doors and two hoods of vehicles, including 5182 and 5754 automotive inner panels, as well as 6014 and 6016 automotive outer panels. The processing fee ranges were 8,000-12,000 (excluding tax) and 10,000-14,000 (excluding...
This week, the operating rate of leading enterprises in China's downstream aluminium processing sector continued its mild post-holiday recovery, up 1.1 percentage points W-o-W to 59.8 per cent. By segment, the operating rate of primary aluminium alloy slightly increased WoW, with production momentum constrained by aluminium price corrections and inventory pressure. Aluminium plate/sheet and strip benefited from a rebound in automotive and battery demand, pushing the operating rate to 68.6 per cent, with further improvement expected under peak season expectations. The operating rate of aluminium wire and cable continued to rebound, supported by restocking demand, but struggled to rebound due to insufficient new orders. Aluminium extrusion saw a slight increase in operating rate, with...
The Australian mining and exploration company Metro Mining announced its 2024 annual results, highlighting the successful commissioning of the Ikamba Offshore Floating Terminal (OFT) and port infrastructure upgrades. Following the commissioning in Q2, the Bauxite Hills Mine achieved a steady operational capacity aligned with the expansion target of 7 million wet metric tonnes (WMT) per annum in the final quarter. This milestone contributed to a total shipped production of 5.7 million WMT for the year, marking a 24 per cent increase compared to the previous year. Metro recorded 30 per cent year-on-year revenue growth, reaching $307 million, driven by record shipments and a strong pricing environment. Site EBITDA margins stood at $13.8 per WMT in Q3 and improved to $17.4 per WMT in Q4,...
