News

[SMM Aluminum Express News] Vietnam and Russia have signed an agreement in Moscow to develop Vietnam’s first nuclear power plant following talks between Prime Minister Pham Minh Chinh and Prime Minister Mikhail Mishustin. The project includes two nuclear plants with a combined capacity of 400MW in former Ninh Thuan province (now Khanh Hoa), marking a major step in Vietnam’s long-term energy diversification strategy. The agreement is expected to strengthen cooperation in high technology, research, and industrial development, while supporting Vietnam’s rapidly rising electricity demand. The Government estimates that power consumption will increase by 12-13percent in 2025 and reach 1,200 billion kWh by 2045

[SMM Aluminum Weekly Review: The Situation in the Middle East Remained Unclear, and Aluminum Prices Were Expected to Fluctuate and Adjust in the Short Term]

[SMM Aluminum Express News] Malaysia is planning to reduce the subsidized RON95 petrol quota under the Budi95 program from 300 liters to 200 liters per month, with implementation expected as early as April amid rising fuel costs linked to the Iran conflict. Once the quota is exceeded, consumers will pay floating market prices, which are set to rise by 60 cents to RM3.87 per liter starting March 26–April 1. Unsubsidized fuel prices have surged sharply since March 11: RON95 has risen 44.94% to RM3.87, RON97 is expected to jump to RM5.15 (+RM1.90 or 58.46%), and diesel in Peninsular Malaysia will increase to RM5.52 (+RM2.40 or 76.92%) over the same period, marking three consecutive weeks of steep hikes driven by global oil volatility.

[SMM Aluminum News Express] Hydro Energi AS has signed a long-term PPA with Alpiq, securing 219 GWh of renewable power annually from 2031 to 2038 in Norway’s NO3 price area, totaling 1.75 TWh. The deal supports Hydro’s low-carbon aluminium production—around 75% below the global average—and aligns with its strategy to combine PPAs, new renewable investments, and upgrades to its own power assets to reach net-zero emissions by 2050.

[SMM Aluminum Express News] The Philippines has suspended spot electricity sales until further notice after declaring a national energy emergency due to fuel supply risks and price volatility triggered by the Middle East conflict. Authorities aim to curb a projected 16% surge in power prices, shifting to a temporary pricing system while prioritizing renewables and conserving fuel inventories.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Mar , 2026

[SMM Cast Aluminum Alloy Morning Comment: Futures Rebound Drove Quotation Increases, While Weak Transactions Capped Gains] Spot side, yesterday the secondary aluminum alloy market was lifted by the futures rebound, with quotations edging up and mainstream gains at 100 yuan/mt. Some enterprises raised prices in line with the trend to recover earlier losses, and market sentiment improved slightly from the previous period. However, transactions remained weak, with downstream buyers mainly purchasing as needed and showing limited acceptance of high prices, constraining upside room for prices. In the short term, ADC12 prices are expected to fluctuate rangebound, and further gains will still require substantive improvement on the demand side.

[SMM Flash News] SHFE data showed that as of March 25, the total registered volume of cast aluminum alloy warrants was 42,944 mt, down 2,519 mt from the previous trading day. By region, the total registered volumes were Shanghai (2,635 mt, down 120 mt), Guangdong (16,686 mt, down 571 mt), Jiangsu (3,608 mt, down 601 mt), Zhejiang (12,565 mt, down 1,107 mt), Chongqing (3,664 mt, down 60 mt), and Sichuan (1,267 mt, down 60 mt).

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Mar , 2026

[SMM Aluminum Alloy Daily Review] Driven by the rebound in futures, the secondary aluminum alloy market saw quoted prices edge up today, with mainstream increases of 100 yuan/mt. Some enterprises raised prices accordingly to recover earlier losses, and market sentiment improved slightly from the previous period. However, transactions remained weak, with downstream buyers mainly purchasing as needed and showing limited acceptance of high prices, constraining upside room for prices. In the short term, ADC12 prices were expected to fluctuate rangebound, and further gains would still require substantive improvement on the demand side.

On 4 March 2026, the European Commission presented its Proposal for a Regulation on establishing a framework of measures for accelerating industrial capacity and decarbonization in strategic sectors, which aims at “improving the functioning of the internal market by establishing a framework to support the development, competitiveness and resilience of the Union’s manufacturing sector, with a focus on selected strategic sectors”, in order to contribute to the EU’s “climate objective, economic security and the creation, retention of, and transition into high-quality jobs."

The Tomago aluminium smelter is planning to shift to renewable electricity, with an expectation of targeting 50 per cent renewable energy by 2030 and 100 per cent by 2035, while also strengthening the case for government-backed financial support.