Domestic Refined Aluminium Social Inventory, up 12,000 Tonnes as Last Thursday

The Canadian Department of Finance stated in a press release that the Canadian government decided to extend its steel and aluminum tariff measures for one year. Canada plans to extend the tariff rate quota (TRQ) system on steel for non-US-Mexico-Canada Agreement (USMCA) partner countries. Meanwhile, Canada also plans to extend the remission plan for countermeasure tariffs on certain US steel, aluminum products, and certain derivative products. The above extensions still require cabinet approval, and the two measures will remain in effect until June 27, 2027, and June 30, 2027, respectively.

According to foreign media reports, Rio Tinto has begun commissioning its AP60 smelter expansion project in Quebec, Canada. The $1.5 billion project, launched in March, is expected to be completed by the end of 2026, at which time 96 new electrolytic cells will be operational. The expansion will increase the plant's annual primary aluminum production capacity by approximately 160,000 tons, bringing its total output to 220,000 tons. AP60 technology is a low-carbon technology that produces fewer greenhouse gas emissions per ton of aluminum compared to the industry average.

On the morning of May 29th, the signing ceremony for the Dali Prefecture Heqing County Aluminum and Aluminum Alloy Cable Industry Project was held at the Dali International Conference Center. Chen Zhenyong, Deputy Secretary of the Dali Prefecture Party Committee and Governor of Dali Prefecture, and Yu Zimin, Chairman of Zhongchangsheng Fund Management Co., Ltd. and Qujing Cable Co., Ltd., attended the signing ceremony and delivered speeches. Li Su, Standing Committee Member of the Dali Prefecture Party Committee and Executive Vice Governor of Dali Prefecture, signed the agreement on behalf of the Dali Prefecture Government.