Rio Tinto Invests $1.5B in Quebec Smelter, Boosting Low-Carbon Aluminum Output by 2026

[Expectations for US Fed interest rate hikes and post-holiday inventory buildup weigh on aluminum prices, which consolidate on a subdued note in the near term] Macro-wise, elevated US Treasury yields and a strong US dollar continue to pressure valuations across the nonferrous metals sector, while shifting expectations for US Fed interest rate hikes this year repeatedly disrupt market sentiment. Industry-wise, China's aluminum ingot inventories have built up after the holiday, weakening price support. Coupled with softer demand for liquid aluminum and a rebound in casting ingot output, position adjustments around the long holiday have intensified the tug-of-war between longs and shorts. Overall, bullish and bearish factors are intertwined in the near term, and aluminum prices are expected to remain in the doldrums.

In September 2026, Rio Tinto partnered with Prysmian to supply low-carbon aluminum cables produced using ELYSIS inert anode technology to an Amazon data center in Ohio. The technology eliminates direct greenhouse gas emissions from the smelting process, marking the first known application of inert anode smelted aluminum in a data center. Through the collaboration with Amazon, the parties have further extended the application of low-carbon aluminum to artificial intelligence infrastructure, helping reduce the embodied carbon of electrical systems required for the rapid expansion of data centers and opening another downstream application scenario for near-zero-carbon aluminum.

[SMM Aluminum Express News] Cameroon schedules October 12–17 public hearings for Camalco's proposed alumina refinery. Cameroon's Ministry of Environment has announced public consultations on the environmental and social impact assessment of a proposed alumina refinery developed by Camalco, a subsidiary of Australian mining company Canyon Resources. The hearings will take place in Ngaoundéré and Martap, near the Minim-Martap bauxite project. The Cameroonian government previously outlined plans for a 2.4 million mt/year alumina refinery, with investment exceeding US$2 billion and potential construction beginning in 2027, although the project's final capacity and investment details remain unconfirmed. The refinery is intended to process locally mined bauxite and potentially supply Alucam, Cameroon's primary aluminum producer, which currently relies on imported alumina. However, Canyon Resources withdrew its Q4 2026 first-bauxite-shipment target in August amid financing and logistics uncertainties. The public hearings represent progress in environmental assessment rather than construction approval, while the refinery's development timeline remains uncertain.