Press Metal Reports 66% Profit Surge in Q2 2026, Revenue Up 12% Amid Higher Aluminum Prices

[SMM Aluminum Express News] Rio Tinto announced on October 1 that agreements with the Tasmanian and Australian governments will secure Bell Bay Aluminium’s operations through the end of 2031. Hydro Tasmania will extend electricity supply until December 31, 2031, beyond the current agreement’s expiry at end-2026, while both governments will provide additional support to maintain competitiveness. The wholly owned smelter in northern Tasmania produces approximately 190,000 tonnes of aluminum annually.

[SMM Aluminum Express News] The first Venezuelan primary aluminum shipment to the United States in eight years, comprising 15,000 tons, arrived at the Port of Avondale in New Orleans, according to an October 5 announcement by Heeney Capital, a US investment firm focused on critical minerals and industrial supply chains. The cargo will supply US manufacturers, reopening a long-inactive trade route. Heeney expects additional shipments in the coming months and plans broader investment in Venezuelan industrial capacity.

On October 8, Foshan aluminum billet Φ90 was quoted at RMB 24,170/t, with processing fee at RMB 200/t (up RMB 100 from the previous trading day); Φ120 at RMB 24,120/t, with processing fee at RMB 150/t (up RMB 100); Φ178 at RMB 24,120/t, with processing fee at RMB 150/t (up RMB 100). SMM A00 aluminum spot (Foshan) stood at RMB 23,970/t. On October 8, Wuxi aluminum billet Φ90 was quoted at RMB 24,260/t, with processing fee at RMB 500/t (up RMB 90 from the previous trading day); Φ120 at RMB 24,160/t, with processing fee at RMB 400/t (up RMB 120); Φ178 at RMB 24,140/t, with processing fee at RMB 380/t (up RMB 120). SMM A00 aluminum spot stood at RMB 23,760/t. On October 8, Nanchang aluminum billet Φ90 was quoted at RMB 24,140/t, with processing fee at RMB 380/t (up RMB 50 from the previous trading day); Φ120 at RMB 24,090/t, with processing fee at RMB 330/t (up RMB 80); Φ178 at RMB 24,090/t, with processing fee at RMB 330/t (up RMB 80). SMM A00 aluminum spot stood at RMB 23,760/t.