China's Aluminum Downstream Operating Rates Rebound on October 15

[SMM Aluminum Express News] Guinea targets five operational alumina refineries and 7–8 million mt/year of capacity by 2030. Guinea plans to have five operational alumina refineries by 2030, with three projects already under construction, according to Daouda Diakité, Senior Adviser to Guinea's Minister of Mines and Geology, speaking at African Mining Week 2026 in Cape Town on October 14. The target forms part of the country's Simandou 2040 strategy, which aims to increase domestic mineral processing and reduce reliance on raw-material exports. Guinea is targeting 7–8 million mt/year of alumina production capacity by 2030, supported by additional investment in power generation and industrial infrastructure. The planned expansion could significantly increase Guinea's domestic bauxite consumption and establish the country as a larger supplier of refined alumina to the international market. However, the 7–8 million mt/year figure remains a government target rather than confirmed operational capacity, with project completion dependent on financing, construction progress and supporting energy infrastructure.

[Expectations for US Fed rate hikes intensify; destocking validates consumption resilience, aluminum prices consolidate on a subdued note] On the macro front, rising expectations for US Fed rate hikes, a strong US dollar, and elevated US Treasury yields continue to weigh on valuations of nonferrous metals. On the fundamentals side, production resumptions and new capacity ramp-ups outside China continue to suppress near-term futures sentiment. Aluminum prices are expected to consolidate on a subdued note in the short term.