In late March 2026, the Philippine DOE mandated the expedited grid integration of 22 renewable energy projects (1,471 MW) by April 2026 to mitigate fossil fuel price volatility stemming from Middle East conflicts. This emergency deployment is heavily concentrated in solar PV, with 12 projects accounting for a dominant 1,284 MW of the total capacity.

SMM, March 31 – In March 2026, China's metallurgical-grade alumina output rose 10.56% month-on-month but fell 3.33% year-on-year. From a capacity perspective, as of the end of March, the national installed capacity stood at approximately 113.22 million tonnes, with some growth driven by the gradual commissioning of new alumina projects in Guangxi. However, operating capacity declined 2.1% month-on-month and 8.7% year-on-year. Although new projects were brought online, they were still in trial production at the end of March and did not contribute effective output, leading to a decline in the overall operating rate. Looking at output structure, total production in March increased from February, but average daily output declined. The main reasons are: on one hand, several enterprises in Guizhou and Guangxi carried out various levels of maintenance; among them, one Guizhou-based company shut down part of its production lines due to operational pressure, significantly lowering the operating rate in southern China. On the other hand, northern regions such as Henan and Shandong saw relatively stable operations, mainly fulfilling long-term contract deliveries. In Shanxi, some enterprises continued upgrading their production lines, causing a slight decline in the operating rate. These factors combined led to a month-on-month drop in average daily output in March. Looking ahead to April, the oversupply pattern in the alumina market is expected to persist. First, newly added capacity in Guangxi and Chongqing will be gradually released, driving overall output higher and intensifying competition within the industry. Second, attention should be paid to the indirect impact of geopolitical conflicts in the Middle East: some overseas alumina originally destined for the Middle East has been forced to be re-exported to China, resulting in an unexpected increase in China's imported alumina volume. This will likely impact the domestic market and may restrain the release of domestic production capacity. Based on a comprehensive assessment, China's operating alumina capacity in April 2026 is expected to be around 86.63 million tonnes.

According to the latest release from the General Administration of Customs, SMM statistics showed that China’s SiMn exports were 2,539.52 mt in January 2026, down 50.55% MoM and down 31.84% YoY. China’s SiMn imports were 0 mt in January 2026, down 100% MoM and down 100% YoY. By import and export regional structure, SiMn exports were mainly destined for Indonesia.

[SMM Magnesium Weekly Review: Weak Supply and Demand Jointly Dominated Magnesium Price Trends, While Structural Divergence Emerged Across Segments] This week, operating trends across various products in China’s magnesium industry chain diverged, with the overall market characterized mainly by stability and rangebound fluctuations. The stalemate in market supply and demand became increasingly evident, and momentum for a unilateral market move remained insufficient. The upstream dolomite market maintained stable operations. Although a top-tier enterprise in the Wutai region suspended production, ample raw material inventory in place and timely capacity replenishment in major producing areas, coupled with a steady pace of just-in-time procurement by primary magnesium enterprises, kept prices stable without fluctuations. As the core product, magnesium ingot prices in China’s main producing areas consolidated at high levels, with mainstream transaction prices remaining stable. Market transactions showed mediocre performance, while producers demonstrated strong reluctance to sell. Against a backdrop of weak supply and demand, quoted prices fluctuated rangebound. On the export side, FOB quotations loosened slightly, and as ocean freight rates pulled back, inquiries from outside China recovered somewhat, with expectations for forward order placements. Supported by raw materials and boosted by the entry of export orders, the magnesium powder market saw firm quotations and held up well. In March, industry operating rates gradually recovered, and support from the demand side became increasingly evident. Magnesium alloy prices overall remained stable. On the supply side, as top-tier enterprises resumed production and newly added capacity gradually came on stream and ramped up output, downstream buyers mainly focused on just-in-time restocking, resulting in a pattern of strong supply and weak demand. Prices are expected to remain in the doldrums going forward. Looking across the entire industry chain, there have been no significant changes in current market fundamentals, and in the short term the market will still be dominated by steady fluctuations and marginal adjustments in some segments.

Indonesia, as a crucial emerging market in Southeast Asia, possesses massive potential for the development of the photovoltaic (PV) industry. According to assessments by the Ministry of Energy and Mineral Resources, Indonesia's potential PV power generation capacity reaches up to 207 GW. This article will provide an in-depth insight into the actual dynamics and industrial landscape of the current Indonesian PV market.

[Cost Rise Fails to Provide Support, Weak Demand Leads to Decline in Both Volume and Price of LiPF6 in January] In January 2026, the LiPF6 market exhibited a simultaneous decline in both production and prices, primarily driven by a combination of factors including weakening end-use demand, subdued downstream purchase willingness, and a loose supply-demand pattern.

In April 2025, China's green hydrogen industry reached a period of explosive growth. According to statistics from SMM, the country's monthly newly added capacity for green hydrogen-related projects exceeded 82,300 mt of green hydrogen, 2.35 million mt of green ammonia, and 2.2 million mt of green methanol, covering the entire value chain of hydrogen production, storage, transportation, and application. From Inner Mongolia to Qinghai, and from alkaline electrolyzers to PEM technology, China's green hydrogen industry is breaking through the bottleneck of large-scale development through diversified approaches, achieving benchmark applications in the transportation and industrial sectors.

【SMM Analysis: Partial SiMn Alloy Plants Halt Production for Maintenance, January SiMn Alloy Production Decreases MoM】 According to SMM data, China's total SiMn alloy production in January 2025 decreased by approximately 5% MoM and dropped by over 10% YoY. The main reason for the January decline in SiMn alloy production was the production cuts observed in both northern and southern SiMn alloy plants. Specifically, Inner Mongolia maintained a high operating rate, and although there was some newly added capacity, the actual production release was limited. In Ningxia, production reductions were caused by maintenance at certain plants. Additionally, in south China, due to a shortage of manganese ore at southern ports and rising raw material prices, SiMn alloy production costs remained high. Under production pressure, most SiMn alloy plants that had previously halted production currently have no production resumption plans. In Guangxi, although some small-scale SiMn alloy plants resumed production, the increase was smaller than the reduction. Overall, the reduction in SiMn alloy production outweighed the increase, resulting in a decline in total national SiMn alloy production in January. Heading into February, some SiMn alloy plants are expected to conduct maintenance around the Chinese New Year, leading to a slight decrease in production. Furthermore, due to the shorter number of calendar days in February, SiMn alloy production is expected to decline, with the total national SiMn alloy production showing a reduction.

In March, SMM data showed that China's copper cathode output was 999,500 mt, an increase of 49,200 mt or 5.18% from the previous month, a year-on-year increase of 5.06%, and an increase of 29,300 mt from the expected 970,200 mt. The total output from January to March was 2.9196 million mt, an increase of 207,100 mt or 7.64% year-on-year.

China's titanium dioxide output stood at 390,000 mt in March, up 3.7% MoM and 17% YoY, SMM data showed.