News

Allianz Global Investors (AllianzGI) has agreed to acquire an indirect stake in German grid operator Amprion from insurer Talanx, with the deal expected to close in Q2 2026. As part of the partnership, both firms plan to invest significantly in Germany’s power grid. Amprion, which operates over 11,000 km of extra-high-voltage lines, aims to spend €36.4 billion by 2029 to build or upgrade 9,300 km of network to support rising energy demands.

The US Treasury (OFAC) has issued new licenses lifting major sanctions on Venezuela’s gold and mining industries, including state-owned miner Minerven. Following the 2026 political shift in Caracas, this move allows companies to resume investments, provide technical services, and sign contracts. The policy aims to secure global access to Venezuela's vast reserves of gold, bauxite, and rare minerals essential for high-tech supply chains.

英国政府周四宣布提供6400万英镑（约8500万美元）资助，用于将塔尔伯特港（Port Talbot）建设成为凯尔特海漂浮式海上风电枢纽。港口运营商Associated British Ports (ABP) 已与政府达成融资条款，旨在为凯尔特海租赁轮次中首批4.5GW漂浮式风电项目提供大规模制造、组装及集散能力。该项拨款连同此前支持塔塔钢铁（Tata Steel）电弧炉建设的5亿英镑，共同构成英国政府保障该港口工业未来并推动可再生能源供应链发展的核心战略。

The Dutch Ministry of Economic Affairs has granted "strategic" status to two major energy projects under the European Net-Zero Industry Act (NZIA). The status was awarded to Power2X’s eFuels Rotterdam project for sustainable aviation fuel (e-SAF) production and to Sif Holding NV for expanding offshore wind foundation capacity at Maasvlakte. Sif’s expansion is expected to support 3.6–4.2 GW of offshore wind power annually. This designation aims to accelerate permitting and strengthen long-term investment stability for critical green infrastructure in the Port of Rotterdam.

TetraSpar Demonstrator ApS, owned by Stiesdal Offshore, RWE, and TEPCO, announced the decommissioning of its 3.6-MW floating wind project in Norway this summer. Since its commissioning at the METCentre, the demonstrator generated 70 million kWh with a strong 51.4% capacity factor and 98% availability. The final phase, managed by Global Maritime, involves a full structural inspection to extract key data for scaling floating offshore wind technology. Chairman Henrik Stiesdal noted the project successfully proved that industrialized floating wind concepts can perform reliably under real offshore conditions.

A joint venture between German firms YAMKO Energy and ILOS is moving toward technical optimization and financial structuring for its 100-MW solar-powered green hydrogen plant in Mantasia, Greece. Having secured its Production Certificate and Environmental Impact Assessment (EIA) approval, the project has cleared major regulatory hurdles. The facility aims to supply carbon-free hydrogen to industrial and heavy transport sectors, marking a significant milestone for large-scale green energy in the region.

Munich-based startup Tozero has opened an industrial demonstration plant in Bavaria, Germany, capable of processing 1,500 tonnes of battery waste annually. Using an acid-free process, the facility recovers high-purity lithium carbonate, graphite, and a nickel-cobalt mix, equivalent to recycling 6,000 EV batteries. The company aims to scale up to a full commercial plant by 2030 to process tens of thousands of tonnes of waste.

The General Office of the Guangzhou Municipal People’s Government issued the Implementation Plan of Guangzhou for Promoting the High-Quality Development of the Artificial Intelligence Industry. It proposed focusing on advancing the R&D and promotion of intelligent hardware products such as intelligent connected vehicles, intelligent unmanned systems, whole-home intelligent terminals, intelligent wearable devices, industrial intelligent terminals, and brain-computer interfaces; promoting the application of large in-vehicle edge-side models; and supporting the development of AIoT systems featuring collaboration among home appliances, central control systems, and sensors. It also called for advancing the commercialization of embodied AI robots, supporting enterprises in independently developing core parts, and expanding the application of intelligent robots in fields such as industrial manufacturing, household services, and healthcare.

[Shanghai Spot Copper] Looking ahead to next week, the Shanghai spot copper market is expected to remain in a tug-of-war. Supply side, some suppliers had already sold part of their imported cargoes during the day, such as Onsan, SR-P, and Polish large plates, while a large volume of imported copper is still set to arrive next week, and whether actual supply will increase significantly remains to be seen. If copper prices continue to fluctuate rangebound within the current range, the increase in supply will weigh on spot premiums. Demand side, next week will usher in a stockpiling window ahead of the Qingming Festival, and downstream enterprises may have demand to restock in advance. Spot transactions are expected to improve, which may provide temporary support to premiums. In addition, from the perspective of market structure, the price spread between high-quality copper and standard-quality copper has remained at a relatively narrow level, reflecting that current market trading is mainly driven by actual consumption demand, with brand premiums weakening and buyers paying more attention to price itself rather than brand differences. Overall, Shanghai spot copper prices against the 2604 contract are expected to remain at the current level next Monday.

[SMM Tin Midday Commentary: Technical Recovery Coupled with Expectations of a Temporary Easing in Geopolitical Tensions Drives a Rebound in Tin Prices]

Spot #1 copper cathode in North China was quoted at a discount of 100 yuan/mt to a discount of 40 yuan/mt against the front-month contract today. The average price remained unchanged from the previous trading day, and the average transaction price fell by 10 yuan/mt from the previous trading day to 95,345 yuan/mt.