【SMM Aluminum Flash News】VBX secures environmental approvals to expand Wuudagu bauxite project

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.

Britain’s growing aluminium scrap exports are raising concerns about the long-term availability of a critical raw material for domestic industries. According to Make UK, aluminium scrap exports reached 624,314 tonnes in 2025, up 43% from 2016 levels, while shipments to India increased 94% to nearly 199,000 tonnes. Exports to the US surged 989% year-on-year to 23,560 tonnes after aluminium scrap was excluded from Section 232 tariff measures. Make UK estimates the UK could require up to 6 million tonnes of recyclable aluminium scrap to support total aluminium demand of 8 million tonnes by 2035. The organisation warned that continued scrap outflows could weaken domestic manufacturing, discourage investment and reduce supply chain resilience. It called for greater investment in scrap collection, sorting and processing infrastructure, improved recycling standards and measures to retain critical aluminium alloys within the UK’s circular economy.