China's Secondary Aluminum Alloy Ingot Inventory Down 356 MT, Foshan Leads Destocking

India and Myanmar discussed cooperation on rare earths and critical minerals during talks between Prime Minister Narendra Modi and Myanmar President Min Aung Hlaing in New Delhi. India’s Foreign Secretary said critical minerals and rare earth supply-chain cooperation were key topics during the meeting. Myanmar holds sizeable rare earth deposits, particularly in Kachin state near the Chinese border. The two sides also reviewed regional connectivity projects including the India-Myanmar-Thailand highway and the Kaladan transport project. Markets believe India is accelerating efforts to diversify strategic mineral supply sources amid intensifying global competition for critical minerals.

Aluminum Bahrain (Alba) is expected to acquire Aluminum Dunkerque, Europe’s largest primary aluminum smelter, in a USD2.2 billion deal, subject to EU Foreign Subsidies Regulation (FSR) clearance and other approvals. Aluminum Dunkerque produces around 300,000 tones of aluminium annually, and the acquisition is expected to strengthen Alba’s global low-carbon aluminum strategy. At the same time, French state investment bank Bpifrance will invest EUR100 million for a 6% stake and join the company’s board. Markets believe the deal could further strengthen Europe’s low-carbon primary aluminium supply chain amid growing regional demand for sustainable aluminium.

Around 200 companies attended an EU investment roadshow in Johannesburg on June 1 as the bloc advanced plans to invest EUR12 billion (USD13.98 billion) in South Africa’s critical minerals sector. The partnership focuses on mining, processing and industrial development to reduce dependence on single suppliers. South Africa said it aims to increase local beneficiation and industrial value instead of only exporting raw materials. At the same time, the EU plans to support South Africa’s green energy, port and railway infrastructure projects. Markets believe Africa’s resource development and local processing capacity are becoming increasingly important amid intensifying global competition for critical minerals.