Qingdao Port Sees Record 108% Increase in Aluminum Ingot Throughput in Q1

According to informed sources, during the US-Iran negotiations held in Islamabad, the capital of Pakistan, representatives from both sides engaged in intense discussions over the issue of control of the Strait of Hormuz but failed to reach an agreement, with whether the strait could be reopened becoming the sticking point of the negotiations. Informed sources further noted that Iran explicitly rejected the US proposal for "joint management" of the Strait of Hormuz, insisting on retaining control over this critical waterway and claiming the right to charge "transit fees" on passing vessels.

News of a Middle East ceasefire briefly boosted risk assets, but Wall Street strategists warned that the war had inflicted damage to inflation, energy supply, and the US Fed's policy room that would be difficult to repair in the short term. Shaken by this impact, Wall Street strategists were forced to reassess their optimistic expectations from the beginning of the year, and traders' expectations for a US Fed interest rate cut within the year have now all but evaporated.

On April 10, KMG announced the acquisition of 45% of a recycling and remelting plant near Charleston, South Carolina. Previously, Glencore provided funding for the facility in exchange for marketing rights. The remaining 55% of the shares will be held by Alumicore, who will also operate the plant. This cooperation further consolidates the position of Glencore in actively supporting a resilient and sustainable aluminum supply chain in the United States. Through holding 30% of Century Aluminum, the largest primary aluminum producer in the United States, Glencore has become an important investor in the industry.