Guinea has just made a move that could send tremors through global commodity corridors, cancelling from 50 plus to 129 mineral exploration permits in a single sweep.

SMM data showed that the PMI for China’s aluminium processing sectors stood at 29.1% in February 2024, remaining in the contraction territory.

The operating rate of aluminium extruders declined to 47.94% in January. The operating rate of large enterprises increased slightly in January, mainly because CNY holidays in south China and parts of Shandong this year were slightly earlier than in previous years.

The macro front was bullish last week. The governor of the People's Bank of China said that the PBOC will lower the deposit reserve ratio by 0.5 percentage points on February 5 to provide liquidity support of one trillion yuan.

On January 22, 2024, SMM data showed that the social inventory of aluminum ingots in China’s eight major markets was 440,000 mt, and the amount available for sale stood at 314,000 mt, down by 1,000 mt WoW and 304,000 mt YoY.

Capral Limited, manufacturer and distributor of fabricated and semi-fabricated aluminium and associated products in Australia, has reported strong result for H1 2023 that has outperformed expectations.