Latest Update in the SMM Aluminum Market

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USGS has revised Vietnam's rare earth reserves down from the previous 22 million mt to 3.5 million mt.

Global prices for nickel, copper, and aluminum have been wildly swinging the past two years. With application in renewable energy infrastructure via EVs and a vehicle for sustainability goals, the metals are now pivotal commodities of the game of energy transition. Yet, the double pressure of new energy demands and green regulation is still the prime driver of their volatile prices.

[US Fed Interest Rate Cut Expectations Weaken, US Dollar Index Rises, Copper Prices Open Lower] Macro-wise, US Fed's Goolsbee reiterated support for further interest rate cuts and expressed openness to acting at a slower pace. As the market expects fewer interest rate cuts by the US Fed next year, the US dollar index has rebounded, putting pressure on copper prices.

SK On signed a three-year agreement with POSCO Pilbara Lithium Solution to secure up to 15,000 tons of domestically produced lithium hydroxide.

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