Weak SHFE Aluminum Hurts Buying Appetite in Spot Market, SMM Says

The Loudi Municipal Development and Reform Commission (NDRC) upheld the principle of "proactive service and targeted support," making every effort to ensure the smooth approval of the overseas investment filing for Hunan Hongwang's 120,000 mt aluminum project in Songea, Tanzania, empowering the enterprise to "go global" through professional services. High-level coordination to remove approval bottlenecks. After the project was launched, commission leaders led a team to the provincial NDRC for dedicated coordination, accurately grasping the filing requirements for non-sensitive projects under the Measures for the Administration of Overseas Investment by Enterprises, and efficiently clearing the key provincial-level approval hurdles. Dedicated personnel and positions to ensure compliant documentation. The business department implemented a "full-process agency" mechanism, providing upfront guidance to the enterprise in properly preparing the feasibility study report and the statement of funding sources. The submitted materials were well-structured and well-founded, earning recognition from the provincial NDRC and achieving zero errors in application and full compliance throughout the process. Extended services to facilitate industry synergy. During the service process, the commission also assisted the enterprise in clarifying the policy boundaries of China-Africa capacity cooperation, defining the compliant pathways for technology export and equipment export, and advancing the project from a "single-point investment" toward "industry chain synergy."

[Aluminum capacity outside China gradually recovers; expanding destocking in China supports aluminum price bottom] Overall, aluminum prices are expected to consolidate at highs in the short term.

Foreign media reported on September 17 that Canadian aluminum products processors have issued a warning that the latest US tariff measures are seriously threatening their survival in the US market. The White House released the latest trade tariff details on September 8, canceling some tariff exemption rights for aluminum products and imposing an additional 50% tariff on related aluminum semis. Combined with the original 50% base tariff, the comprehensive tax rate on some Canadian aluminum products imported into the US has directly climbed to 100%. This means that the competitiveness of Canadian manufactured goods in the US market will decline significantly, and their US sales face the risk of disappearing. For Canadian manufacturers that rely heavily on US clients, this change has already directly affected their export plans.