[SMM Rare Earth Update] Australian mineral developer Arafura Rare Earths announced on June 30 that it has signed a binding offtake term sheet with a member of an Indian industrial group, under which it will supply 500 mt per year of Pr-Nd, dysprosium, and terbium oxides from its Nolans project in the Northern Territory, for an initial term of five years, with an option to extend for two years. The agreement is conditional upon the offtaker being formally designated as a beneficiary of the Indian government’s $815 million rare earth permanent magnet plan. The Nolans project is designed to produce 4,400 mt per year of Pr-Nd oxide and 470 mt per year of mixed medium-heavy rare earth oxides, with a mine life of at least 38 years, and can meet approximately 4% of global Pr-Nd demand. Combined with previously signed agreements with Hyundai, Siemens, and others, Arafura has now locked in 4,070 mt/yr of capacity (83.6%), with the remaining 370 mt/yr planned to be sold on the spot market.

Coal India Ltd. (CIL) plans to invest around INR 19 billion (₹1,900 crore) in research and development by FY2030 as it accelerates technological innovation and energy transition efforts. The company's R&D spending rose fourfold to INR 2.45 billion in FY2025, supported by the establishment of the National Centre for Coal and Energy Research (NaCCER). CIL is currently advancing 19 R&D projects worth INR 2.25 billion and collaborating with leading academic institutions on clean coal, carbon capture, critical minerals, mine repurposing, and advanced mining technologies to strengthen its long-term competitiveness.

On June 28, Guangzhou Rongjie Energy Technology Co., Ltd. ("Rongjie Energy") officially signed a 3 GWh cooperation agreement with India‑based energy storage integrator Lineage Power Systems Pvt Ltd ("Lineage Power"). Under the agreement, Rongjie Energy will supply a total of 3 GWh of 314Ah lithium iron phosphate (LFP) cells and related accessories to Lineage Power for its utility‑scale and commercial & industrial (C&I) energy storage projects, covering both the Indian and international markets. The agreement also covers pricing, quality specifications, warranty terms, and delivery schedules, and includes provisions for joint quality assurance, technical collaboration on system integration, and supply chain transparency, providing long‑term supply chain security for Lineage Power's energy storage projects. Rongjie Energy's manufacturing base in the Guangdong‑Hong Kong‑Macao Greater Bay Area offers significant logistical advantages, enabling efficient delivery to India and other overseas markets.

In June 2026, there were new procedural developments in the U.S. Section 337 investigation initiated by First Solar against TOPCon photovoltaic products. The investigation was formally instituted by the U.S. International Trade Commission (ITC) in March under Investigation No. 337-TA-1494. The products under investigation include certain TOPCon solar cells, modules, panels, and related products.

China Steel Market: [Flat Products] Flat-product export prices steady, deals remain hard to close HRC and other flat-product export prices held broadly steady today, with HRC deals at 490-500 USD/tonne FOB. Northeastern mills said deals remain hard to close; North China mills offer lower prices, leaving the Northeast less competitive, with only small-lot transactions done. [Billet] Billet export quotes hold steady, Middle East inquiries up slightly but trading mild Billet export quotes were stable today, with workable FOB offers at 463-465 USD/tonne. The market noted that with geopolitics unsettled and strait passage repeatedly disrupted, Middle East inquiries rose slightly, but Chinese export billet offers held no clear edge; wary of future costs, mills showed limited willingness to discount, leaving trading mild. [Rebar] Rebar export quotes steady, some mills curb orders for maintenance Rebar export quotes were stable today, with workable FOB prices at 481-483 USD/tonne. Traders said export inquiries showed no clear change; some mills are under maintenance and deliberately curbing order intake to safeguard domestic supply. Off-season demand and overseas price pressure kept overall trading weak. International Steel Market: [Southeast Asia] Southeast Asia slab exports soften, Indonesian offers cut Southeast Asian slab trading was thin in June and regional export prices kept falling. Indonesian mills cut August-shipment HRCgrade slab offers to 495 USD/tonne FOB, down 15 USD/tonne week-on-week and 20 USD/tonne from early June on weak sales; Vietnamese slab is offered near 510 USD/tonne FOB with limited deals. On imports, Chinese slab recently traded at 510 USD/tonne CFR, with workable levels now no higher than 500 USD/tonne CFR. [European Union] Off-season and policy wait-and-see leave EU HRC hike unlikely EU local steel demand stayed weak on poor weather and extended summer holidays, pressuring HRC prices lower. Some mills quote around 775-781 USD/tonne EXW, but traders report actual deals are lower and vary by region. Earlier rumors that major mills planned a 57-80 USD/tonne hike in July-August look uncertain given current weakness. Buyers are sidelined, waiting for clarity after July 1, with the near-term outlook still under pressure. [India] India HRC prices hold, weak demand caps deals India's domestic HRC trade prices held this week at about 601 USD/tonne EXW in Mumbai and 617 USD/tonne EXW in Chennai. Monsoon-driven weak demand kept buyers restocking only as needed, with supply-chain inventories high. The market awaits mills' July base-price guidance, with any rise seen limited at about 8 USD/tonne. High prices, high stocks and rising Chinese finished-steel imports left sentiment bearish, with weakness possibly lasting through end-October. [United States] Nucor ends rally, US HRC mill price stays elevated Nucor held its HRC price unchanged this week, the first pause since late January, ending a 22-week run of increases. For the week ended June 29, Nucor's HRC was steady at 1245 USD/tonne EXW and California Steel Industries flat at 1300 USD/tonne EXW. Nucor's lead times are typically 3 to 5 weeks. Citing domestic and overseas HRC price trends and strong demand, Nucor still expects a robust HRC market in the coming months.

According to a statement on June 30, Terminal Investment Limited (TiL), a subsidiary of Mediterranean Shipping Company (MSC), has reached a definitive agreement with Adani Ports and Special Economic Zone Limited (APSEZ) to invest nearly $1.4 billion to acquire a 49% stake in India’s mega port, Vizhinjam Port.

||||Tip: This article is lengthy. You may directly refer to the final section: Core Questions & Answers|||| What is the annual export capacity of Canadian sulfur? Canada’s sulfur export tonnage has followed a trend of decline bottoming out explosive growth. The export volume stood at 3.35 million tons in 2022, 3.12 million tons in 2023, 3.02 million tons in 2024, and surged to a historical peak of 4.25 million tons in 2025. The annualized export tonnage is estimated at 5.22 million tons in 2026.

SMM, June 30: According to SMM statistics, total aluminum production outside China in June 2026 fell 8.7% YoY, mainly due to earlier large-scale production cuts at aluminum smelters in the Middle East. Daily average production outside China rebounded 1.9% MoM, driven by production resumptions at smelters in the US and Iceland, as well as the production ramp-up of Indonesian projects and newly energized capacity. Looking ahead to July 2026, production resumptions at smelters in the US and Iceland are expected to continue advancing. Backed by high prices, more Indonesian aluminum projects are expected to be energized and start production, while earlier-commissioned new projects are expected to continue ramping up. The expanded capacity at India’s Balco is also expected to sustain its production ramp-up. In addition, the geopolitical situation in the Middle East has eased, with no further signs of deterioration. If the situation stabilizes gradually, the aluminum capacity in the region that has been cut or suspended is expected to begin resuming production step by step. Overall, in the near term, aluminum production outside China is expected to remain in negative YoY growth. As production resumptions and new ramp-ups continue, daily average aluminum production is expected to maintain positive growth. Going forward, announcements from aluminum smelters in the Middle East, Indonesia, and India will warrant close monitoring.

Hyundai Motor published its 2026 Sustainability Report on June 30, outlining its proactive risk management capabilities and future sustainability management strategy amid tightening global ESG regulations. In the report, Hyundai Motor said it has achieved RE100, or 100% renewable energy use, across all of its business sites in Europe, North America and India.

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