For almost four weeks, the war against Iran has kept the world on edge – a conflict that leaves deep marks not only geopolitically but also economically. Volatility and uncertainty in global markets are increasing daily.

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.....

Rusal's financial report showed that, affected by its capacity optimization plan, full-year 2025 primary aluminum production fell 1.9% YoY to 3.918 million mt (2024: 3.992 million mt). Alumina production, meanwhile, rose 6.7% YoY to 6.858 million mt. In addition, benefiting from the Guinea expansion project and increased equity interests in refineries in China and India, bauxite production increased 16.2% YoY to 18.453 million mt.

[SMM Aluminum Express News] Russian Ambassador Sergei Tolchenov proposed cooperation with West Kalimantan on a nuclear power plant, aluminum processing facility, and educational programs. Accompanied by Russian investors from bauxite, aluminum, and nuclear sectors, he asked the province to identify strategic partners. Rosatom (Anna Belokoneva) presented reactor technologies from 100 MW to 1,200 MW with high safety standards. Rusal (Aleksey Mirskiy) offered to invest in an aluminum processing plant and invited Governor Ria Norsan to visit Rusal facilities in Russia. Governor Ria Norsan welcomed the offers, confirming a prepared site for a nuclear power plant on Semesak Island, Bengkayang District, and openness to Russian investment.

Due to disruptions from US aluminum tariffs, imports have been hindered and domestic supply is tight, prompting the company to shift from long-term contracts to spot purchasing. Arconic, a major US aluminum producer specializing in aluminum semis for aerospace, automotive, and construction sectors, has a procurement volume of approximately 40,800 mt of aluminum ingots (90 million pounds), which is scheduled for delivery in Q2.

As voices from aluminium associations across US trade-allied nations grow louder, one consensus is becoming clear that the United States’ decision to increase tariffs on aluminium imports to 50 per cent is unlikely to benefit its global partners.