In late March 2026, the Philippine DOE mandated the expedited grid integration of 22 renewable energy projects (1,471 MW) by April 2026 to mitigate fossil fuel price volatility stemming from Middle East conflicts. This emergency deployment is heavily concentrated in solar PV, with 12 projects accounting for a dominant 1,284 MW of the total capacity.

With utilization rates among Korean battery manufacturers remaining around 50% and reflecting a timing mismatch between demand and supply, utilization is increasingly emerging as a key indicator of cost structure and operational efficiency in a context where capacity expansion has preceded demand realization.

Markets frequently mistake an industry's sudden breakout for its origin. China's long-duration energy storage (LDES, ≥4 hours) sector did not abruptly emerge in 2026. Following policy incubation (2023-2024) and initial scaling (2025), 2026 marks a definitive inflection point, driven by a validated, closed-loop business model and exponential growth in grid-connected capacity.

SMM, March 31 – In March 2026, China's metallurgical-grade alumina output rose 10.56% month-on-month but fell 3.33% year-on-year. From a capacity perspective, as of the end of March, the national installed capacity stood at approximately 113.22 million tonnes, with some growth driven by the gradual commissioning of new alumina projects in Guangxi. However, operating capacity declined 2.1% month-on-month and 8.7% year-on-year. Although new projects were brought online, they were still in trial production at the end of March and did not contribute effective output, leading to a decline in the overall operating rate. Looking at output structure, total production in March increased from February, but average daily output declined. The main reasons are: on one hand, several enterprises in Guizhou and Guangxi carried out various levels of maintenance; among them, one Guizhou-based company shut down part of its production lines due to operational pressure, significantly lowering the operating rate in southern China. On the other hand, northern regions such as Henan and Shandong saw relatively stable operations, mainly fulfilling long-term contract deliveries. In Shanxi, some enterprises continued upgrading their production lines, causing a slight decline in the operating rate. These factors combined led to a month-on-month drop in average daily output in March. Looking ahead to April, the oversupply pattern in the alumina market is expected to persist. First, newly added capacity in Guangxi and Chongqing will be gradually released, driving overall output higher and intensifying competition within the industry. Second, attention should be paid to the indirect impact of geopolitical conflicts in the Middle East: some overseas alumina originally destined for the Middle East has been forced to be re-exported to China, resulting in an unexpected increase in China's imported alumina volume. This will likely impact the domestic market and may restrain the release of domestic production capacity. Based on a comprehensive assessment, China's operating alumina capacity in April 2026 is expected to be around 86.63 million tonnes.

[SMM Steel] On March 24, 2026, Jindal Steel Limited (JSL) announced the completion of its 6 million mt expansion project at the Angul steel mill in Odisha. The milestone was marked by the firing of the third basic oxygen furnace (BOF3). With this expansion, the Angul facility's capacity has doubled to 12 million mt per year, bringing JSL’s total domestic installed capacity to approximately 15 million mt per year. The project includes integrated upstream and downstream infrastructure to drive higher volumes and revenue growth.

SMM News: As of March 20, 2026, the market price for Praseodymium-Neodymium (Pr-Nd) metal in China stabilized temporarily at 890,000–910,000 RMB/ton. This article utilizes the SMM Pr-Nd Terminal Demand Calculation Model to dissect the demand logic for 2026 across three core sectors—New Energy Vehicles (NEVs), Internal Combustion Engine (ICE) vehicles, and Wind Power—explaining the current supply-demand dilemma facing the NdFeB magnet and broader Pr-Nd markets.