In Q1 2026, China’s aluminum semis exports showed a pronounced pattern of product-category divergence amid the interplay of three factors: the long-term impact of the cancellation of export tax rebates in December 2024, the divergence in demand structures outside China, and the sudden outbreak of geopolitical conflict in the Strait of Hormuz.....

According to market sources, the EU's Carbon Border Adjustment Mechanism (CBAM) concludes its first definitive quarter today with multiple unresolved administrative hurdles. The EU Commission is set to announce the initial CBAM certificate price on April 7, yet country-specific default values remain flawed, hindering reliable cost calculations. Furthermore, the tender for the central trading platform has faced delays, and a backlog of nearly 10,000 companies awaits registration. The system's viability is further challenged by a severe lack of certified emissions validation bodies and looming changes to the EU Emissions Trading System (ETS) benchmarks, which directly dictate CBAM pricing structures and future allocations.

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.

On March 31, 2026, Zenith Steel released its pricing policy for early April I. Price Adjustment for the Three Ten-Day Periods of March: 1. Wire rod: 235 2. Rebar: 155 II. Provisional Prices for the First Ten-Day Period of April: 1. Wire rod: 3,700 2. Rebar: 3,400 III. The benchmark monthly discount rate for bank acceptance bills was adjusted to 1.2‰ [SMM Steel]

Today, SMM's spot battery-grade lithium carbonate price fluctuated downward from the previous working day, while the most-traded futures contract also moved lower. After the opening, the price once climbed above 170,000 yuan/mt, then fluctuated downward all the way and finally closed at 157,000 yuan/mt.

[Supply Tightening Coupled With Macro Tailwinds Keeps Aluminum Prices Firmly at High Levels] Overall, the geopolitical situation in the Middle East remains the core factor affecting the global aluminum market. A series of production cuts and damage incidents at Middle Eastern aluminum plants is expected to provide strong upward momentum for aluminum prices in and outside China, together with support from expectations of gradually releasing peak-season demand in China. In the short term, aluminum prices are expected to remain in a high-level consolidation pattern.