[SMM Aluminum Express News] Australia, Japan, the US and Alcoa have reached a final investment decision to develop a gallium production facility at Alcoa's Wagerup alumina refinery in Western Australia. The project will recover gallium from the existing Bayer process without requiring additional bauxite mining, supporting supply diversification for the critical mineral while adding value to the refinery's existing alumina operations.

[SMM Aluminum Express News] Rio Tinto is ramping up aluminum production following the commissioning of its AP60 smelter expansion at the Arvida complex in Quebec, Canada. The US$1.1 billion (C$1.5 billion) project adds 160,000 tpy of low-carbon primary aluminum capacity through 96 new AP60 pots, with production expected to progressively ramp up through 2026. The expansion strengthens Rio Tinto's low-carbon aluminum supply for automotive, packaging and energy transition markets while increasing the company's total AP60 production capacity.

On July 14, Dingsheng New Energy Materials announced that it expects its net profit attributable to shareholders of the listed company for H1 2026 to be 450 million to 520 million yuan, up 139%-177% YoY. The performance change was mainly due to the continued robust downstream demand for high-value-added new energy battery aluminum foil and carbon-coated aluminum foil during the reporting period, with production and sales volumes significantly increasing compared to the same period last year.

On July 12, Sunstone Development Co., Ltd. and Guizhou Aluminum Industry Group Co., Ltd. held a groundbreaking ceremony for their jointly invested project with an annual output of 300,000 mt of prebaked anode in the Shuicheng Economic Development Zone, Liupanshui City, Guizhou Province. The project, located in the Shuicheng Economic Development Zone, is planned to build a production line with an annual output of 300,000 mt of prebaked anode and supporting public auxiliary facilities such as waste heat power generation and flue gas purification. The construction includes the entire process production line covering petroleum coke calcination, green anode manufacturing, and anode baking, as well as a comprehensive waste heat utilization system.

The State Council Information Office held a press conference today (14th) to present China's foreign trade performance since the start of this year. It was introduced that in H1, China's foreign trade achieved double-digit growth and maintained a good momentum. With the rapid development of artificial intelligence, imports and exports of related products showed strong momentum. In H1, imports and exports of computing hardware such as electronic components and computer parts totaled 5.13 trillion yuan, up 56.6%. Smart products like AI glasses, AI translators, and mechanical exoskeletons have been quickly iterating, with various innovative products constantly emerging. According to customs statistics, in H1 of this year, China's total goods trade imports and exports reached 25.47 trillion yuan, up 16.9% YoY. Specifically, exports were 14.73 trillion yuan, up 13.4% YoY, maintaining growth for 11 consecutive quarters; imports were 10.74 trillion yuan, up 22.1% YoY, outpacing exports by 8.7 percentage points. In June, imports and exports totaled 4.78 trillion yuan, up 24.2% YoY, maintaining growth for 17 consecutive months. Export side, the product structure further improved. In H1, China's exports of mechanical and electrical products reached 9.36 trillion yuan, up 20.1%, accounting for 63.5% of total exports, up 3.5 percentage points compared to the same period last year. Exports of high-tech products reached 3.26 trillion yuan, up 39%. Import side, in H1, China's import growth outpaced exports by 8.7 percentage points, promoting balanced development of imports and exports. Within this, imports rose for energy and other bulk commodities (3.4%), mechanical and electrical products (28%), and agricultural products (8.6%). Trading partner side, China's diversified markets continued to consolidate. In H1, China's imports and exports to Belt and Road partner countries totaled 12.97 trillion yuan, up 14.8%, accounting for 50.9% of total foreign trade. Imports and exports to neighboring countries reached 9.44 trillion yuan, up 20.6%. Trade with Latin America, Africa, and the EU expanded by 16.2%, 19.6%, and 10.2%, respectively. Business entity side, all types of business entities in China maintained good growth momentum. Imports and exports by private enterprises reached 14.53 trillion yuan, up 17%, accounting for 57% of total foreign trade. Imports and exports by foreign-invested enterprises and state-owned enterprises grew by 17.1% and 16.8%, respectively. Wang Jun, Deputy Commissioner of the General Administration of Customs, introduced at the press conference held by the State Council Information Office: Overall, China's foreign trade achieved remarkable results in H1. Meanwhile, the current external environment remains complex and volatile. The World Bank believes that the global economy is facing pressures from rising energy prices, intensifying inflationary pressure, and expectations of monetary policy tightening, leading to a weakening growth outlook. IMF forecast data shows that world economic growth is expected to slow from 3.5% last year to 3% this year, and the growth rate of goods and services trade volume is also expected to slow from 5% last year to 3.5% this year. In H2, China’s foreign trade will face some pressure, but with strong innovation momentum, robust market vitality, and a high level of openness, the fundamentals of foreign trade will remain solid, and the positive momentum in foreign trade development is expected to continue. Based on data released by the General Administration of Customs, SMM compiled the import and export situation of selected products in the metals industry, as follows: Exports: Rare earth exports in June 2026 5,104.8 mt, down 34.1% YoY vs June 2025 . Cumulative exports from January to June 2026 30,482.8 mt, down 6.4% YoY vs January to June 2025. Steel exports in June 2026 10.32 million mt, up 6.6% YoY vs June 2025 . Cumulative exports from January to June 2026 5,487.4 mt, YoY down 5.6 % vs January to June 2025. Unwrought aluminum and aluminum semis exports in June 2026 711,000 mt, up 45.4% YoY vs June 2025 . Cumulative exports from January to June 2026 3.396 million mt, up 16.3% YoY vs January to June 2025. Imports: Iron ore and concentrates imports in June 2026 112.689 million mt, up 6.4% YoY vs June 2025 . Cumulative imports from January to June 2026 628.868 million mt, up 6.3% YoY vs January to June 2025. Copper ore and concentrates imports in June 2026 2.335 10kt, down 0.6% YoY vs June 2025 . Cumulative imports from January to June 2026 14.609 10kt, down 0.9% YoY vs January to June 2025 . Coal and lignite imports in June 2026 42.779 10kt, up 29.5% YoY vs June 2025 . Cumulative imports from January to June 2026 225.4 million mt, up 1.7% YoY vs January to June 2025 . In June 2026, rare earth imports reached 6,261.5 mt, down 25.3% YoY from June 2025 . In January-June 2026, cumulative imports totaled 53,886.6 mt, down 6.1% YoY from January-June 2025. In June 2026, steel imports reached 441,000 mt, down 6.2% YoY from June 2025. In January-June 2026, cumulative imports totaled 2.696 million mt, down 11.3% YoY from January-June 2025. In June 2026, imports of unwrought copper and copper semis reached 478,000 mt, up 3% YoY from June 2025 . In January-June 2026, cumulative imports totaled 2.491 million mt, down 5.3 % YoY from January-June 2025.

[Flat products] HRC export deals rise to 488-494 USD/tonne, overseas inquiries lag futures rally On 15 July, HRC and other flat-product export prices rose 1-2 USD/tonne day-on-day, with HRC deals at 488-494 USD/tonne. Chinese futures rallied for a second session, but with overseas prices holding flat, foreign buyers did not step up inquiries in response to the domestic rally; a few grades saw limited deals as the increase was modest. [Billet] Export billet FOB up 1-2 USD/tonne, Jiangyin at 458-460 USD/tonne On 15 July, export billet FOB prices rose 1-2 USD/tonne, with Jiangyin port quoted at 458-460 USD/tonne. Market feedback indicated buyers in Southeast Asia were pushing hard on price, while Chinese mills, mindful of production costs, had limited room to concede, making deals difficult to close. [Rebar] Rebar export offers up 1 USD/tonne, overseas price pressure keeps deals subdued On 15 July, rebar export offers edged up 1 USD/tonne. Traders reported that although export quotes tracked the futures gain, overseas buyers continued to press on price, and actual inquiries and deals showed no clear improvement.

Transactions in west Liaoning are sluggish, with the price of 66% grade iron ore concentrates, wet basis and excluding tax, at 710-720 yuan/mt. Supply side, affected by heavy rainfall, local mines received flood control safety alerts around the first ten days of the month and are almost at a standstill. A few mines with ROM ore reserves remain in production, but overall iron ore concentrates resources are relatively tight. Demand side, steel mills mostly purchase according to their plans, with a relatively strong desire to bargain down prices. In the short term, sellers and buyers remain in a standoff. It is estimated that local iron ore concentrates prices will trend steadily in the short term. [SMM Steel]

[SMM Flash] According to data from the Motorcycle Chamber of Commerce, in June, China's motorcycle industry achieved both YoY and MoM growth in production and sales, while exports continued their strong growth momentum. Since May, domestic sales have continued to improve, and exports remain the core engine boosting industry growth. In June, production and sales of fuel-powered motorcycles were 1.8436 million and 1.8445 million units, up 13.84% and 13.73% YoY; production and sales of electric motorcycles were 420,300 and 405,900 units, up 54.33% and 55.63% YoY. From January to June, production and sales of fuel-powered motorcycles were 10.1402 million and 10.1724 million units, up 12.41% and 12.44% YoY; production and sales of electric motorcycles were 1.9448 million and 1.8961 million units, up 14.12% and 13.04% YoY. In the first half, total production and sales of motorcycles reached 12.085 million and 12.0685 million units, up 12.68% and 12.53% YoY. Motorcycle exports in June stood at 1.3726 million units, up 1.6% MoM and 15.75% YoY.

[SMM Analysis: Demand Boost Drives Anode Production Higher in June, Enterprises Prioritize Destocking Amid Cost Pressure] SMM, July 15 – According to SMM data, China's anode material production showed growth in June 2026, up 3.9% MoM and 66.4% YoY.

Today, iron ore futures showed a strong trend, with the most-traded DCE I2609 contract closing at 762 yuan/mt, up 1.13%. Spot iron ore prices at Qingdao port rose by about 0-2 yuan/mt from the previous trading day due to thin trading. Traders' quoting enthusiasm was moderate, and steel mills' purchase willingness was relatively poor. So far, spot trading volume has been relatively small. SMM survey confirms that iron ore demand continued to decline. According to the survey, the blast furnace operating rate for 242 steel mills in China reached 89.79% this week, with sample mills' daily average hot metal production at 2.4382 million mt, down 2,400 mt WoW. Fundamentals' support for ore prices continued to weaken. News side, some mine types may implement port cargo pick-up restrictions tomorrow. Market sentiment reacted violently, driving up futures prices, but this cannot provide stable support for ore prices in the long term. Taking into account both supply-demand and sentiment, short-term ore prices may hold up well until market sentiment subsides, with prices reverting to fundamentals. [SMM Steel]