According to relevant reports, Huatong Angola Aluminum Company recently announced that it will officially commence the export business of the first batch of aluminum ingots produced locally in Angola starting from the end of March this year. It is reported that the aluminum industrial park, located in the Barra do Dande area of Bengo Province, officially began operations in January this year. According to the plan, the first phase of the project is designed with an annual aluminum production capacity of 120,000 mt. The initial batch of products to be exported amounts to 20,000 mt, marking an important step for Angola in achieving industrial diversification and reducing its reliance on a single oil-based economy.

According to foreign media: As part of an industrial demonstration project funded by the Department of Energy, Century Aluminum has received $500 million to build the most advanced aluminum smelter in the US. The Green Aluminum Smelter Project, led by Century Aluminum Company, will double the country's total aluminum production capacity while reducing emissions of exhaust pollutants by 75% compared to existing aluminum production facilities. This project will be the first of its kind in the country in 45 years and has been hailed as a "major turning point in aluminum production," which is a key factor in the clean energy economy.

[SMM Aluminum Express News] Dak Nong Aluminum Company – TKV (DNA), based in Lam Dong province, exported its first alumina shipment of the Lunar New Year Binh Ngo 2026 (Year of the Horse) to Japan on February 23, 2026. The ~14,000-tonne cargo, packed in 1-ton flat-bottom bags, was loaded onto the MV HTK LUCKY at Go Dau port (loading started 2 pm on Feb 22) and delivered to customer Marubeni (Japan). To meet the schedule, DNA prepared early: 6,032 tons stored at Go Dau port and 26,100 tons packaged at the factory.

[Citing Benefits of 232 Tariffs, Century Aluminum to Restart Mt. Holly SC Plant, Increasing U.S. Aluminum Output by 10%] Century Aluminum Company (NASDAQ: CENX) announced on August 7, 2025, that it will restart over 50,000 metric tons of idled production at its Mt. Holly smelter in South Carolina. The company will invest about $50 million, create more than 100 new jobs, and increase U.S. domestic aluminum production by nearly 10%. The plant, currently running at 75% capacity, is expected to reach full production by June 30, 2026 — a level last seen in 2015. The restart follows President Trump’s decision to raise Section 232 tariffs on primary aluminum imports to 50% without exemptions, aiming to strengthen domestic manufacturing and reduce reliance on foreign supply. Century Aluminum CEO Jesse Gary emphasized the move’s role in safeguarding national security, protecting American workers, and revitalizing domestic aluminum production. At full capacity, the Mt. Holly smelter is projected to generate over $890 million annually for South Carolina’s economy, partly driven by an average salary of $100,000 for directly supported jobs. The restart was enabled through an agreement in principle with Santee Cooper, Mt. Holly’s power supplier, to extend the current contract through 2031.

[SMM Aluminum Morning Meeting Summary: Favourable macro front and continuous destocking in the fundamental aspects drive domestic aluminum prices to fluctuate upward] On the macro front, China's domestic supportive policies remain unchanged, and positive progress has been made in the Sino-US tariff negotiations, which may drive up the futures market. In terms of the fundamental aspects, the continuous destocking of domestic aluminum ingots provides support for aluminum prices. Subsequently, the rush to meet deadlines during the window period of Sino-US trade may continue to boost consumption, providing further support for the upward movement of aluminum prices. It is expected that domestic aluminum prices will mainly fluctuate upward in the short term.

SMM Alumina Morning Comment on May 8 Futures Market: Overnight, the most-traded al2509 futures contract opened at 2,707 yuan/mt, with a high of 2,707 yuan/mt, a low of 2,686 yuan/mt, and closed at 2,700 yuan/mt, down 7 yuan/mt or 0.24%, with open interest at 299,000 lots. Ore: As of May 7, the SMM Import Bauxite Index stood at $78.24/mt, down $0.32/mt from the previous trading day, mainly due to some lower quotes in the market. Meanwhile, the buyer's target price was below $75/mt, with some enterprises reporting target prices below $70/mt. The SMM Guinea Bauxite CIF average price was reported at $77/mt, unchanged from the previous trading day. The SMM Australia Low-Temperature Bauxite CIF average price was at $80/mt, also unchanged, while the SMM Australia High-Temperature Bauxite CIF average price was at $72/mt, unchanged as well. Industry News: According to a PTI report on May 6, 2025, several experts attending the launch of a mining white paper organized by the social welfare organization AIDENT in Bhubaneswar, Odisha, pointed out that Odisha should seize the critical "now or never" moment to systematically develop its abundant mineral resources to achieve inclusive prosperity. The white paper noted that Odisha holds 35% of India's iron ore reserves, 59% of its bauxite reserves, and abundant coal resources, but the current level of development of these resources is far from adequate, with issues such as institutional barriers, resource outflows, and missed historical opportunities. The report proposed a phased reform path: advancing regulatory reforms in the short term, building mineral corridors and manufacturing clusters in the medium term, and creating industrial hubs for green aluminum, steel, and critical minerals in the long term. Experts noted that fully unlocking the potential of bauxite could drive the development of over 10,000 small and medium-sized enterprises, create 2.4 million jobs, and attract billions of dollars in investment. According to a South China Morning Post report on May 7, an alumina refinery in Shanxi Province is introducing technology developed by France's IB2 company to enable the utilization of locally produced high-silicon, low-grade bauxite in China. The traditional Bayer process struggles to efficiently process bauxite with high silica content, but IB2 has developed a process to neutralize silicon and sulfur through a decade of R&D, allowing such ores to be refined into alumina using the Bayer process. In 2023, IB2 signed a 22-year cooperation agreement with China's Liulin Senze Coal & Aluminum Company to advance the implementation of this technology. The first set of industrial-scale equipment at the refinery is expected to commence production in July 2025. Spot-Futures Price Spread Daily Report: According to SMM data, on May 7, the SMM Alumina Index had a premium of 202 yuan/mt against the latest transaction price of the most-traded contract at 11:30 a.m. Warrant Daily Report: On May 7, the total registered alumina warrants decreased by 323 mt from the previous trading day to 259,700 mt. In Shandong, the total registered alumina warrants remained unchanged from the previous trading day at 601 mt. In Henan, the total registered alumina warrants decreased by 1,200 mt from the previous trading day to 3,001 mt. In Guangxi, the total registered alumina warrants decreased by 2,701 mt from the previous trading day to 27,900 mt. In Gansu, the total registered alumina warrants decreased by 1,198 mt from the previous trading day to 16,800 mt. In Xinjiang, the total registered alumina warrants increased by 4,776 mt from the previous trading day to 211,400 mt. Overseas Market: As of May 7, 2025, the FOB Western Australia alumina price was $348/mt, with an ocean freight rate of $20.50/mt. The USD/CNY exchange rate selling price hovered around 7.24. This price translates to approximately 3,097 yuan/mt at major domestic ports, which is 201 yuan/mt higher than the domestic alumina price. The alumina import window remained closed. Summary: With the commissioning of new capacity and the resumption of production from maintenance, the operating capacity of alumina has rebounded significantly. In the final week before the holiday, the weekly operating capacity increased by 3.48 million mt/year on a WoW basis. In the short term, some alumina refineries have plans for maintenance and production cuts, but at the same time, new alumina capacity will further ramp up production, and the operating capacity of alumina may exhibit slight fluctuations. On the cost side, caustic soda prices have remained largely stable overall, while bauxite prices have decreased, leading to a pullback in alumina costs and alleviating the loss pressure on alumina refineries. Overall, the tightening of spot alumina supplies caused by the concentration of maintenance and production cuts in the early stage is expected to ease, and short-term prices are expected to fluctuate. [The information provided is for reference only. This article does not constitute direct advice for investment research decisions. Clients should make cautious decisions and should not rely on this information to replace their own independent judgment. Any decisions made by clients are not related to SMM.]