Entering the second half of March, regional divergence in China’s aluminum market became increasingly pronounced, with the divergence between inventory trends and spot price spreads in east China and south China intensifying. On the one hand, the nationwide post-holiday inventory buildup in aluminum gradually approached its end, inventory overhang pressure in east China continued to ease, circulation efficiency steadily improved, the inventory buildup momentum slowed down significantly, and.....

Dalian iron ore futures rose in early trading today before slowly pulling back. The most-traded contract I2605 finally closed at 812 yuan/mt, down 0.49% from the previous trading session. Spot prices fell by about 2-5 yuan from the previous trading day. Traders were mediocre in offering quotations, while steel mills restocked as needed; overall transactions in the spot market were limited. Fundamentals, according to the SMM survey, port inventories began to decline slightly this week, with total inventory across 35 ports nationwide down 610,000 mt WoW to 155.78 million mt, a decrease of 0.39%. Meanwhile, port pick-up volume increased by 110,000 mt WoW to 2.855 million mt. Although support below ore prices gradually strengthened along with the pace of hot metal production resumptions, supply side still faced the risk of further increases as weather-related disruptions eased and iron ore returning from the Middle East arrived in China. Overall, upward pressure on ore prices had not yet eased significantly, and with downside support gradually strengthening, prices were expected to fluctuate at highs in the short term.

[April China TCs Expected to Face Resistance to Further Gains, Pending the Conclusion of Follow-up Negotiations]: Weekly data showed that the average weekly SMM Zn50 domestic TC held flat at 1,550 yuan/mt in metal content, while the SMM imported zinc concentrates index fell $7.51/dmt MoM to -$2.28/dmt...

【SMM Copper Cathode Rod Flash News】As copper prices rose and rigid demand was released in a concentrated manner earlier, new orders were clearly constrained. Enterprises maintained high operating rates on the back of ample orders on hand and low finished product inventories. This week, the operating rate of copper cathode rod increased 1.66 percentage points WoW to 83.17%.

New figures from Austria's energy regulator, 'E-Control', reveal the country installed 1,634 MW of new 'PV' capacity in 2025, a 22% decline from 2024, bringing its cumulative capacity to 9.9 GW. 'PV Austria' warned that annual additions must consistently hit 2 GW to reach the nation's 100% renewable electricity goal by 2030. Industry experts blame the slowdown on the government's early abolition of the 'VAT' exemption for small rooftop systems, 'stop-and-go' funding policies, and grid expansion delays. To revive the market, installers are urgently calling for streamlined storage regulations, proportionate fire safety rules, and dynamic grid fees to support a combined solar-plus-storage approach.

[SMM Aluminum Express News] Vietnam and Russia have signed an agreement in Moscow to develop Vietnam’s first nuclear power plant following talks between Prime Minister Pham Minh Chinh and Prime Minister Mikhail Mishustin. The project includes two nuclear plants with a combined capacity of 400MW in former Ninh Thuan province (now Khanh Hoa), marking a major step in Vietnam’s long-term energy diversification strategy. The agreement is expected to strengthen cooperation in high technology, research, and industrial development, while supporting Vietnam’s rapidly rising electricity demand. The Government estimates that power consumption will increase by 12-13percent in 2025 and reach 1,200 billion kWh by 2045

South Korea's 'MOIS' has launched a national drive to establish community-owned solar cooperatives, targeting 2,500 'Sunlight Income Villages' by 2030. Under the program, communities will install 300 kW to 1 MW plants on idle land to share revenues among residents. The government is offering long-term, low-interest loans covering up to 85% of costs from a KRW 450 billion renewable energy fund in 2026. To overcome grid bottlenecks, the initiative grants projects priority grid access and 'ESS' installation support, while mandating the use of domestically produced modules and inverters.

The European Commission will update Emissions Trading System (ETS) free allocation benchmarks and utilize the Market Stability Reserve to curb carbon price volatility "within days". President von der Leyen announced a medium-term ETS review to establish a "realistic trajectory" for free allowances beyond 2034. The EU is also proposing a $35 billion "ETS Investment Booster" fund to finance decarbonization projects, prioritizing lower-income states. To address soaring energy costs, the Commission plans to allow member states to reduce grid charges for energy-intensive industries and mandate lower taxes on electricity compared to fossil fuels. This follows intense pressure from steelmakers and EU nations demanding an urgent ETS overhaul by July.

Smart meter deployment in the UK has hit a slump, prompting the government to introduce stricter regulations for energy retailers to ensure full domestic coverage by the end of 2030. While 21.8 million smart electricity meters were operating by the end of 2025, 7.8 million traditional meters still need replacing. To meet the 'Clean Power 2030' target, suppliers must submit binding annual deployment plans to Ofgem, replace outdated 2G and 3G meters before the 2033 network switch-off, and adhere to a strict 90-day window to repair faulty units or face penalties. This regulatory push aligns with the UK's broader efforts to integrate residential batteries and EVs into grid flexibility markets.

On 24 March, Haitian Co., Ltd. issued an announcement regarding the signing of a strategic cooperation agreement with Tongwei Solar Co., Ltd. The announcement states that the collaboration aims to strengthen in-depth technical discussions in the field of photovoltaic cells, with a view to achieving continuous technological innovation and enhancing cost efficiency. The scope of the cooperation includes, but is not limited to, the following: both parties have agreed to regard each other as key strategic partners; in future collaborations, Tongwei will give priority to using Haitian’s pastes and other related products, provided that all other conditions are equal. The parties will continuously expand the scope of their cooperation and increase the scale of their collaboration.