[SMM Aluminum Express News] Atlantic Alumina (Atalco Gramercy) refinery in Louisiana submitted a site investigation plan (Jan 30, 2026) to LDEQ to test soil & groundwater for contamination from repeated “red mud” leaks into drainage leading to Blind River Swamp. The plan involves drilling borings, screening for heavy metals (cadmium, chromium, arsenic, etc.), and converting to monitoring wells, using strict EPA/Louisiana standards. Leaks started Aug 2024; more violations found 2025. Company agreed to remediation without admitting fault; no fines decided yet. Meanwhile, owner Concord Resources signed a DoD deal (Jan 2026) to expand the U.S.’s only bauxite refinery to >1M tpy alumina + gallium production.

On June 12, the Pengzhou Hydrogen Production via Water Electrolysis Demonstration Station of Huaneng Sichuan Company marked its first anniversary of safe commercial operation. The station has cumulatively produced and sold 2.31 million standard cubic meters of high-purity hydrogen, reducing carbon dioxide emissions by 4.04 million kg compared to coal-based hydrogen production, achieving remarkable environmental protection and social benefits. As the first large-scale commercial hydrogen production via water electrolysis project in south-west China, the Huaneng Pengzhou Hydrogen Production via Water Electrolysis Station has always prioritized safety in production. It has established an "1+4+11" emergency response plan system, strengthened the detection of hydrogen pipeline leaks, strictly managed electrostatic discharge across the station, implemented high-voltage operation procedures, identified and addressed 283 potential hazards, and continuously consolidated its safety foundation. Since its commercial operation, it has accelerated the promotion and application of green hydrogen in sectors such as transportation, electronics, and glass manufacturing. This is of great significance for helping Chengdu become a "green hydrogen capital" and promoting the complementary development of multiple energy sources, including hydropower, wind and solar power, and natural gas in Sichuan, providing a Huaneng model for the commercial operation of large-scale hydrogen production via water electrolysis.

On Tuesday, Eastern Time, the three major US stock indices closed collectively higher, as Trump's postponement of tariff hikes on the EU and a significant rebound in the US consumer confidence index boosted investors' risk appetite. Earlier, Trump posted on social media that he had extended the deadline for imposing additional tariffs on EU goods, stating that European Commission President Ursula von der Leyen had requested the extension. On Monday, the EU's chief trade negotiator said he had a "positive call" with the Trump administration and expressed the EU's commitment to reaching a trade agreement before the July 9 deadline. Paul Nolte, a senior wealth advisor and market strategist at Murphy and Sylvest, commented that Trump's tough actions on April 2 had caused significant market panic, prompting investors to sell off assets rapidly and aggressively, but the market subsequently rebounded quickly. Nolte added, "Investors now have a bit of an understanding of Trump. He's like a poker player at the table; you know he'll make some bets, but when other players pressure him, he folds." In terms of economic data, figures released by The Conference Board on Tuesday showed that the US consumer confidence index rose 12.3 points to 98 in May, well above the expected 87 and the previous 86. This marked the first monthly increase since November last year and the largest monthly gain since March 2021. Richmond Fed President Thomas Barkin stated that people are observing policy uncertainties, and there is no evidence that declining sentiment is affecting consumer spending. This aligns with the views of many US Fed officials, who expect key interest rates to remain unchanged until the full impact of Trump's tariffs is determined. Market Movements At the close, the Dow Jones Industrial Average rose 740.58 points, or 1.78%, to 42,343.65; the Nasdaq Composite gained 461.96 points, or 2.47%, to 19,199.16; and the S&P 500 index advanced 118.72 points, or 2.05%, to 5,921.54. Among US sector ETFs, the Global Jets ETF closed up 3.92%, the Semiconductor ETF rose 3.17%, the Consumer Discretionary Select Sector SPDR Fund gained 2.95%, and the Technology Select Sector SPDR Fund, Regional Bank ETF, Bank ETF, and Global X Cloud Computing ETF each rose at least 2.22%, with the Utilities Select Sector SPDR Fund being the worst performer, up 0.87%. Among the 11 sectors of the S&P 500, the Consumer Discretionary sector rose 3.04%, the Information Technology/Technology sector gained 2.55%, and the Communication Services sector increased 2.14%. Performance of Popular Stocks Major tech stocks generally rose, with Nvidia up 3.21%, Alphabet (Google A) up 2.63%, Apple and Amazon each up at least 2.5%, Meta up 2.43%, and Microsoft up 2.33%. Tesla's shares surged nearly 7% after Elon Musk posted on social media platform X that he had returned to a state of working "24/7" or sleeping in conference rooms, server rooms, or factory spaces. Trump Media & Technology Group fell more than 10% after the company announced it had signed subscription agreements with 50 institutional investors to issue $1.5 billion worth of common stock and $1 billion worth of zero-coupon convertible bonds, with the conversion price 35% higher than the current market price. The offering is expected to close around May 29. With the $2.5 billion raised from the financing, the company plans to establish a Bitcoin reserve. Pinduoduo fell more than 13%. In its recently released first-quarter earnings report, Pinduoduo achieved revenue of 95.67 billion yuan, up 10% YoY (vs. an estimated 101.6 billion yuan); adjusted net profit was 16.92 billion yuan, down 45% YoY (vs. an estimated 27.88 billion yuan). The Nasdaq Golden Dragon China Index fell 0.28%, with most popular Chinese ADRs declining. Bilibili rose more than 2%, while Zhihu, New Oriental, and iQIYI rose more than 1%. Li Auto and JD.com fell more than 2%, while XPeng Motors and NIO fell more than 3%. Corporate News [FDA Halts Rocket Pharma's Gene Therapy Trial] Following the death of a patient due to severe complications, the US Food and Drug Administration (FDA) announced the suspension of a pivotal Phase 2 clinical trial for Rocket Pharma's gene therapy for Danon disease. Affected by this news, Rocket Pharma's shares closed down more than 60% on Tuesday. According to an announcement released by Rocket Pharma on Tuesday, the patient who unfortunately passed away received treatment in early May but developed complications related to capillary leak syndrome. The FDA halted the relevant clinical trial last Friday before the patient's death. At that time, Rocket was testing its gene therapy drug RP-A501, primarily for the treatment of Danon disease, a rare genetic disorder that causes myocardial damage and progressive muscle weakness. Currently, Rocket is investigating the specific cause of death, focusing on a new immunosuppressant recently added to the treatment regimen to enhance patient safety. [Texas Governor Signs Law to Implement Age Verification for Apple and Google App Stores] Texas Governor Greg Abbott signed a bill requiring Apple and Google to verify the ages of users on their app stores, making the second-most populous US state a focal point in the debate over whether and how to regulate children's and adolescents' use of smartphones. Another legislative draft has passed the Texas House of Representatives and is awaiting Senate approval, which would restrict the use of social media applications by users under 18. [Apple Plans to Launch a Dedicated Video Game App for Its Devices] Apple is planning to launch a dedicated video game app on its devices, which will be pre-installed on iPhones, iPads, Macs, and Apple TVs later this year. The app will serve as a game launcher, centralizing in-game achievements, leaderboards, communication history, and other activities, while also providing editorial content, access to the App Store's gaming section, and promoting the Arcade subscription service. This app will replace the existing Game Center and is part of Apple's efforts to enhance the gaming experience on its devices. Currently, games and in-app purchases contribute approximately two-thirds of the App Store's revenue. [Meta is Restructuring Its AI Team to Accelerate the Launch of New Products and Features] Meta Platforms is restructuring its AI team to accelerate the launch of new products and features. In an internal memo released on Tuesday, Chief Product Officer Chris Cox announced that the new structure will divide the team into two branches: ① AI Product Team: Led by Connor Hayes, responsible for the development of the Meta AI assistant, AI Studio tools, and AI features within Facebook, Instagram, and WhatsApp. ② General AI Foundation Team: Co-led by Ahmad Al-Dahle and Amir Frenkel, covering Llama model R&D, inference capability enhancement, multimedia and speech technologies, etc. The company's original AI research division, FAIR (Fundamental AI Research), will remain independent, but a specific team focused on multimedia technologies will be merged into the newly established AGI Foundation Team.

On May 10, the boiler hydrostatic test for Unit 3 of the Kalimantan aluminum power plant project in Indonesia, undertaken by China Energy Engineering Group Zhejiang Thermal Power Construction Co., Ltd., was successfully completed in one attempt. The project is located in Bulungan Regency, North Kalimantan Province, Indonesia, and is planned to include two 380-megawatt (MW) and two 150-MW supercritical coal-fired units. Zhejiang Thermal Power Construction Co., Ltd. is mainly responsible for the construction and installation of Units 3 and 4, each with a capacity of 380 MW. The maximum pressure during this hydrostatic test was 32.34 megapascals (MPa). After reaching the test pressure and maintaining it for 20 minutes, the pressure was reduced to the operating pressure of 29.4 MPa for inspection. During the test, no leaks were found in any of the 29,543 welded joints, the valve seals were tight, there was no change in pressure, no deformation occurred in the pressure-bearing components, and no leakage was detected. Upon completion, the project will be of great significance for ensuring industrial power supply within the park, promoting local economic development, and facilitating economic cooperation between China and Indonesia, as well as between China and ASEAN.

Against the backdrop of the global pursuit of clean energy and the promotion of sustainable development, hydrogen energy, as a highly promising energy carrier, is continuously expanding its application fields. Among them, the niche segment of hydrogen-powered drones is gradually emerging, attracting widespread market attention and further broadening the application scenarios of hydrogen energy. I. Significant Technological Advantages of Hydrogen-Powered Drones​ (I) Long Driving Range Breaks Through Application Bottlenecks​ Compared with traditional lithium battery-powered drones, hydrogen-powered drones possess overwhelming advantages in terms of driving range. Limited by the energy density of lithium batteries, the flight time of lithium battery-powered drones is typically only around 30 minutes, which severely restricts their application scope, especially for tasks requiring long-distance operations or prolonged monitoring, such as power line inspections and logistics distribution. Frequent returns for recharging significantly impair work efficiency. In contrast, hydrogen-powered drones, powered by hydrogen fuel cell systems, can achieve an energy density 3 to 5 times that of lithium batteries, substantially increasing their flight time to 3 to 10 hours. For instance, the "Hydrogen Rotor II" drone adopted by Guangzhou Power Supply Bureau can achieve a flight time of 80 minutes in actual operations, with a daily operational area equivalent to the workload of 20 people conducting line inspections. This greatly enhances the efficiency and coverage of power line inspections, successfully breaking through the bottleneck of short flight times in traditional drones and providing more efficient operational solutions for related industries.​ (II) Strong Environmental Adaptability Broadens Application Boundaries​ Hydrogen-powered drones exhibit remarkable environmental adaptability, capable of stable operation under extreme temperature conditions. In frigid environments of -40℃, the performance of lithium batteries can decline sharply, even to the point of failure to start, whereas hydrogen-powered drones can operate normally, which is of great significance for infrastructure inspections and resource exploration in northern China during winter. In scorching environments of 60℃, hydrogen-powered drones remain unaffected and can perform tasks such as mapping and vegetation monitoring in high-temperature areas like deserts. Additionally, in harsh environments with high humidity and altitude, hydrogen-powered drones can also maintain good flight performance. Their strong environmental adaptability significantly broadens the application boundaries of drones, enabling operations in more complex environments.​ II. Enterprises Across the Industry Chain Actively Deploy​ (I) Upstream Core Component Enterprises Tackle Technological Challenges​ In the upstream of the hydrogen-powered drone industry chain, enterprises engaged in the R&D and production of core components such as hydrogen storage cylinders and hydrogen fuel cells are increasing their technological investments and achieving a series of significant breakthroughs. Taking hydrogen storage cylinders as an example, Guofu Hydrogen Energy, as a leading enterprise in onboard hydrogen storage systems, is actively collaborating with Wankel Aviation to deploy in the low-altitude sector. The hydrogen storage cylinders developed by the company have reached internationally advanced levels in terms of lightweight design and high hydrogen storage density, effectively enhancing the hydrogen carrying capacity and flight performance of drones. Enterprises such as Beijing Jingcheng Machinery Electric Co., Ltd. and Sinoma Science & Technology Co., Ltd. are also continuously innovating in high-pressure hydrogen storage cylinder technology. Their products have been widely applied in transport drones, promoting the localisation of hydrogen storage components, reducing reliance on imported products, and ensuring the security of the industry chain and supply chain. In the field of hydrogen fuel cells, Yuntao Hydrogen Energy (held by Suntak Power Technology Co., Ltd.) successfully completed the maiden flight of its "Yunhang S20" hydrogen-powered drone, demonstrating its strength in hydrogen fuel cell technology. Hanhydro Power (held by Shanghai Shenkai Petroleum & Chemical Equipment Co., Ltd.) holds nearly 90% of the domestic market share for drone hydrogen supply systems, with significant advantages in the R&D and production of hydrogen supply systems, providing stable and reliable hydrogen supply solutions for hydrogen-powered drones.​ (II) Complete Aircraft Producers Build Industrial Ecosystems​ Enterprises in the complete aircraft manufacturing sector are also actively positioning themselves to build comprehensive industrial ecosystems. Xie Hydrogen New Energy has successfully established an "entire industry chain" encompassing "batteries + complete aircraft + hydrogen production and storage," with capabilities spanning from the R&D and production of core components to the integration of complete aircraft, as well as hydrogen production and storage. Leveraging this unique advantage, Xie Hydrogen New Energy can swiftly respond to market demands, launching multiple hydrogen-powered drone products suitable for various scenarios, becoming a benchmark enterprise in the industry. In December 2024, Xie Hydrogen New Energy secured orders worth 600 million yuan, a significant commercial breakthrough marking the official transition of hydrogen-powered drones from the technology verification stage to the stage of large-scale market application. Hydrogen Aviation Technology has also demonstrated outstanding performance, with a diverse product line covering models for logistics distribution, power line inspection, emergency rescue, and other application scenarios. It has formulated a plan for an annual production capacity of 3,000 units, actively expanding capacity to meet the growing market demand and seizing the initiative in market competition. Hydrogen Source Intelligence has taken a unique approach by collaborating with Guohong Hydrogen Energy to launch the world's first solid hydrogen storage-powered drone, standing out in the market with a distinctive technological path and providing new ideas and directions for the development of hydrogen-powered drones.​ III. Policy Support Safeguards Industrial Development​ (I) National Level Lays the Foundation for Technology and Industry​ The state attaches great importance to the development of the hydrogen-powered drone industry and has introduced a series of policies and regulations to safeguard its growth. The national standard "Hydrogen Fuel Cell Power Generation System for Drones," issued in June 2020, laid a solid foundation for the industry's technical specifications, unifying product technical standards, regulating market order, and promoting standardized and normalized production of products. The convening of relevant seminars, such as the "Evaluation Specification for Driving Range Levels of Hydrogen-Powered Drones" in December 2024, further advanced the process of technical standardization, contributing to the establishment of a scientific and reasonable product evaluation system, guiding enterprises to enhance product performance and quality, and accelerating the pace of commercialization and industrialization of hydrogen-powered drones. (II) Local governments promote industrial implementation based on local conditions Local governments have also taken measures based on local conditions, introducing relevant policies to support the development of the hydrogen-powered drone industry. In February 2025, Chongqing, Zhongshan, Jiangsu, and other regions successively issued policies, explicitly proposing to support the R&D innovation of hydrogen-powered drones and the construction of hydrogen infrastructure. For example, some regions have established special industrial funds to support enterprises in carrying out key technology R&D and industrialisation projects for hydrogen-powered drones. In terms of hydrogen infrastructure construction, enterprises are encouraged to build hydrogen refueling stations to provide sufficient hydrogen supply guarantees for the operation of hydrogen-powered drones. The introduction of these local policies has fully leveraged the guiding role of local governments, integrated local resources, and created a favourable policy environment and industrial development conditions for the hydrogen-powered drone industry to take root locally. IV. Broad Market Prospects Further Expand Hydrogen Application Scenarios (I) Industrial Sector Takes the Lead in Achieving Large-Scale Application Currently, hydrogen-powered drones have taken the lead in achieving large-scale application in the industrial sector. In the power industry, in addition to the application case of Guangzhou Power Supply Bureau mentioned earlier, State Grid Harbin Power Supply Company has also conducted application tests of hydrogen-powered drones in power transmission line inspection operations. This is also the first application of hydrogen-powered drones in power grid inspection in high-altitude and cold regions, effectively addressing the challenges of difficult and inefficient power inspections in such regions. In oil and gas pipeline inspection, hydrogen-powered drones can fly along pipelines for extended periods, using high-precision sensors onboard to monitor in real-time for potential safety hazards such as leaks and corrosion. Compared with traditional manual inspections, this significantly improves detection accuracy and efficiency while reducing safety risks. In the logistics and distribution sector, in November 2024, China's first FC30 DJI cargo drone equipped with a hydrogen power system achieved cross-island material transportation flights in Zhoushan, successfully completing material delivery tasks in complex environments and demonstrating the great potential of hydrogen-powered drones in the logistics and distribution sector. These successful application cases in the industrial sector have not only brought tangible benefits to enterprises but also provided demonstrations and references for the promotion and application of hydrogen-powered drones in other sectors, effectively driving the development of the hydrogen-powered drone market. (II) Continuous Expansion of Emerging Application Scenarios With the continuous maturation of technology and the gradual expansion of the market, hydrogen-powered drones also demonstrate broad development prospects in emerging application scenarios. In the field of emergency rescue, when natural disasters or emergencies occur, hydrogen-powered drones, with their long driving range and strong environmental adaptability, can quickly arrive at the scene, providing real-time on-site footage and data to the rescue command center, assisting in formulating rescue plans, and improving rescue efficiency. In the field of urban delivery, faced with increasingly congested urban traffic, hydrogen-powered drones can bypass ground traffic congestion and rapidly deliver urgently needed items such as medical supplies and emergency documents to their destinations, meeting the demand for efficient urban delivery. In terms of material resupply in remote areas, for regions with inconvenient transportation such as mountainous areas and islands, traditional logistics delivery is difficult to cover. Hydrogen-powered drones can leverage their long-distance flight advantages to achieve precise delivery of materials, solving the "last mile" delivery challenge. The continuous expansion of these emerging application scenarios has led to a sustained growth in market demand for hydrogen-powered drones, providing a strong boost to the hydrogen energy market in the short term. This has attracted more enterprises and capital to enter the field, further promoting the development and expansion of the industry.​

[Public Notice on the Proposed Review of the Environmental Impact Assessment Document for the Environmental Impact Report of Fengzhen Tongsheng Alloy Co., Ltd.'s Construction Project of 2×45,000 kVA Fully Enclosed High-Carbon Ferrochrome Electric Furnaces and Coal Gas Comprehensive Utilisation Project] According to the relevant provisions of the approval procedures for environmental impact assessments of construction projects, upon review, our bureau intends to issue an approval opinion on the environmental impact assessment document for one construction project on January 15, 2025. To ensure the seriousness and impartiality of this review work, the basic information of the environmental impact assessment document for which the approval opinion is proposed is hereby made public. The publicity period is five working days starting from January 15, 2025...

A recent filing in the latest batch of China's Ministry of Industry and Information Technology's vehicle catalog unveiled the XPENG G7, a compact all-electric SUV likely priced around 250,000 yuan.

[SMM Analysis] Since the series of news about "Chinese smelters may cut production" emerged on March 13, copper prices have continued to rise. During this period, geopolitics, the trend of the US dollar, China's macroeconomic benefits, and the COMEX warehouse squeeze event pushed copper prices to a new historical high in May. As the bullish funds retreated from high positions, and the negative feedback from consumption side due to the bleak start-up of downstream industries under high copper prices, copper prices have gradually declined since June. At the beginning of August, the market briefly traded on the logic of recession, and LME copper fell to US$8,714 per ton, before rebounding slightly to US$9,200 per ton. During the continuous decline of copper prices from June to August, SMM's electrolytic copper social inventory showed a significant drawdown. Will the global overt inventory increase or decrease? For details, please refer to SMM analysis...

[Jiangsu Xintai Materials Technology Co., Ltd. Experienced a Localized Fire Accident on August 24, 2024] Tianji Co., Ltd. announced on August 26 that at around 10 am on August 24, 2024, a localized fire accident occurred on the fourth floor of Workshop 2 of Jiangsu Xintai Materials Technology Co., Ltd. (hereinafter referred to as "Xintai Materials"), a wholly-owned subsidiary of the company. The fire resulted in the ignition of some cables and plastic pipes, but did not cause damage to the main equipment or metal pipes. The company immediately activated its emergency response plan, set up an on-site emergency response team, rapidly evacuated personnel, and assisted the fire department in extinguishing the flames. The accident did not result in any casualties, chemical leaks, or environmental pollution. The specific cause of the accident is under investigation, and insurance claims are also in progress. Due to the need for investigation and rectification, some equipment on the fourth floor of Workshop 2 has been shut down, production has been suspended, and the production capacity of lithium hexafluorophosphate has been affected, but other production lines are operating normally.

Lidar technology firm Hesai (Nasdaq: HSAI) has furthered its claim that it has no association with the Chinese military, and has filed a motion for summary judgment with a U.S. court.