【SMM Aluminum Flash News】Aluminum Dynamics pulls the plug on Benson aluminium recycling plant

At the US Fed's June FOMC meeting, the federal funds rate was held unchanged at the 3.50%–3.75% range, with a unanimous 12–0 vote. The biggest revision in the meeting statement was the complete removal of forward guidance and wording with a dovish tilt, such as "additional adjustments," while the statement was also significantly shortened—marking a shift to a fully data-dependent policy framework. On the economic projections front, the 2026 GDP growth forecast was lowered to 2.2%, while the core PCE inflation forecast was raised to about 3.3%. The dot plot showed a notable hawkish shift, with the median rate for the end of 2026 rising to 3.8%; 9 officials projected rate hikes, while only 1 projected a cut. Notably, the Fed's new Chair, Warsh, did not submit a dot plot. The market read this as signaling that the easing cycle has come to an end and that rate hike risks have risen markedly.

US President Trump continued to pressure Iran, firmly stating that he would use the 60-day window provided after the launch of the US-Iran agreement to continue pushing forward negotiations, while still using economic pressure as an important bargaining chip. Trump mentioned that approximately 700 ships were currently transiting the Strait of Hormuz normally. He explicitly demanded that Iran must reach an agreement within the 60-day deadline; otherwise, it would face some unpleasant measures. However, Trump also believed that the situation might not necessarily deteriorate to that extent.

VBX Limited has obtained approval from the Western Australian Environmental Protection Authority (EPA) and the Australian Government's environment department to modify the development plan for its Wuudagu bauxite project in northern Western Australia. The revised proposal reduces the project's indicative footprint by almost 10 per cent to about 1,775 hectares while increasing planned mining and beneficiation rates to up to 9 million tonnes per annum (Mtpa). One of the major changes involves shifting the beneficiation plant inland from Guy Point. VBX said the move is intended to lower potential impacts on coastal and marine environments. Other proposed changes include narrower sealed haul roads, a distributed bore field with an optional desalination plant for water supply, and the co-location of port infrastructure to limit disturbance across the project area.