Aluminium

The June 2026 export cap arrives as bauxite prices sit 50% below early-2025 peaks; Axis International filed a $28.9B World Bank arbitration after permit revocation; 75% of China's bauxite imports originate in Guinea

A May 6 agreement definitively resolved GAC's suspension; CBG resumes bauxite supply to EGA's Al Taweelah alumina refinery; Guinea's Nimba Mining Company takes over the Sangarédi project assets

China's self-imposed 45Mt annual smelting ceiling will be reached by late 2026 on current ramp rates, limiting incremental supply; the EU cut Rusal's preferential import quota from 275,000t to 50,000t for February-December 2026; primary aluminium averaged $2,680/t on the LME in H1 2026