- Gold Bullion Market Report 2026: Zijin Mining Group, Newmont Corp,, Barrick Gold, continue to shape this dynamic sector - Global Long-term Forecast to 2030 and 2035
Apr 15, 2026
Company Logo
Key market opportunities in the gold bullion sector include the surge in institutional and retail demand for gold as a secure investment amid geopolitical uncertainties, growth in digital gold trading platforms, rising jewelry consumption, and innovative solutions like tokenized gold trading enhancing market accessibility.
Gold Bullion MarketGold Bullion Market·GlobeNewswire Inc.
Dublin, April 15, 2026 (GLOBE NEWSWIRE) -- The "Gold Bullion Market Report 2026" has been added to ResearchAndMarkets.com's offering.
The gold bullion market is poised for substantial growth, escalating from $86.42 billion in 2025 to an anticipated $97.72 billion in 2026, reflecting a CAGR of 13.1%. This increase is driven by factors such as central bank gold reserves, gold's role as an inflation hedge, and investor trust, underscoring the precious metal's enduring value globally. Notably, the market size is projected to reach $159.41 billion by 2030, maintaining a robust CAGR of 13%. Key influences include rising geopolitical tensions, demand for safe-haven assets, the rise of digital investment platforms, and enhanced retail bullion participation.
Emerging trends in the sector include increased institutional investment in physical gold, growing demand for secure bullion storage, and consumer preference for high-purity minted bars. The expansion of digital gold trading platforms and a heightened focus on supply chain traceability further propel market dynamics. Jewelry demand, in particular, serves as a significant driver, highlighted by a rise from 2,089 metric tons in 2022 to 2,093 metric tons in 2023, representing an 8% value increase to a record $131 billion, as reported by the World Gold Council.
Market innovation is exemplified by developments such as HSBC Holding Plc's introduction of the HSBC Gold Token in December 2023. This tokenized gold product facilitates fractional ownership of physical gold through digital tokens, enabling accessible and secure investment. Additionally, Newmont Corporation's acquisition of Newcrest Mining Limited for $16.8 billion in November 2023 exemplifies strategic expansion, enhancing Newmont's portfolio and merging with Newcrest's extensive holdings to optimize operations and sustainability. Major industry players like Zijin Mining Group Co. Ltd., Newmont Corporation, Barrick Gold Corporation, and others continue to shape this dynamic sector.
The Asia-Pacific region led the market in 2025, with substantial coverage across geographies including Australia, China, India, and the USA. The market encompasses sales of gold rounds and ingots, highlighting the 'factory gate' value concept, capturing the manufacturers' or creators' sales directly to end customers or through intermediaries. Revenue assessments are based on consumption values within specified geographies, excluding resale-based revenues along the supply chain.
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This digital press release outlines the strategic landscape and growth trajectory of the gold bullion market, emphasizing the sector's vital role in global trade and investment strategies. With its robust growth forecasts and innovative approaches, the market presents significant opportunities for stakeholders and investors worldwide.
Key Attributes:
Report Attribute Details No. of Pages 250 Forecast Period 2026 - 2030 Estimated Market Value (USD) in 2026 $97.72 Billion Forecasted Market Value (USD) by 2030 $159.41 Billion Compound Annual Growth Rate 13.0% Regions Covered Global
Key Topics Covered:
1. Executive Summary
1.1. Key Market Insights (2020-2035)
1.2. Visual Dashboard: Market Size, Growth Rate, Hotspots
1.3. Major Factors Driving the Market
1.4. Top Three Trends Shaping the Market
2. Gold Bullion Market Characteristics
2.1. Market Definition & Scope
2.2. Market Segmentations
2.3. Overview of Key Products and Services
2.4. Global Gold Bullion Market Attractiveness Scoring and Analysis
2.4.1. Overview of Market Attractiveness Framework
2.4.2. Quantitative Scoring Methodology
2.4.3. Factor-Wise Evaluation
Growth Potential Analysis, Competitive Dynamics Assessment, Strategic Fit Assessment and Risk Profile Evaluation
2.4.4. Market Attractiveness Scoring and Interpretation
2.4.5. Strategic Implications and Recommendations
3. Gold Bullion Market Supply Chain Analysis
3.1. Overview of the Supply Chain and Ecosystem
3.2. List of Key Raw Materials, Resources & Suppliers
3.3. List of Major Distributors and Channel Partners
3.4. List of Major End Users
4. Global Gold Bullion Market Trends and Strategies
4.1. Key Technologies & Future Trends
4.1.1 Fintech, Blockchain, Regtech & Digital Finance
4.1.2 Sustainability, Climate Tech & Circular Economy
4.1.3 Digitalization, Cloud, Big Data & Cybersecurity
4.1.4 Industry 4.0 & Intelligent Manufacturing
4.1.5 Internet of Things (IoT), Smart Infrastructure & Connected Ecosystems
4.2. Major Trends
4.2.1 Increasing Institutional Allocation to Physical Gold
4.2.2 Rising Demand for Secure Bullion Storage Solutions
4.2.3 Growing Preference for High-Purity Minted Bars
4.2.4 Expansion of Digital Gold Trading Platforms
4.2.5 Enhanced Focus on Supply Chain Traceability
5. Gold Bullion Market Analysis of End Use Industries
5.1 Central Banks
5.2 Institutional Investors
5.3 Retail Investors
5.4 Bullion Dealers
5.5 Jewelry Manufacturers
6. Gold Bullion Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, Supply Chain Impact from Tariff War & Trade Protectionism, and Covid and Recovery on the Market
7. Global Gold Bullion Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
7.1. Global Gold Bullion PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
7.2. Global Gold Bullion Market Size, Comparisons and Growth Rate Analysis
7.3. Global Gold Bullion Historic Market Size and Growth, 2020-2025, Value ($ Billion)
7.4. Global Gold Bullion Forecast Market Size and Growth, 2025-2030, 2035F, Value ($ Billion)
8. Global Gold Bullion Total Addressable Market (TAM) Analysis for the Market
8.1. Definition and Scope of Total Addressable Market (TAM)
8.2. Methodology and Assumptions
8.3. Global Total Addressable Market (TAM) Estimation
8.4. TAM vs. Current Market Size Analysis
8.5. Strategic Insights and Growth Opportunities from TAM Analysis
9. Gold Bullion Market Segmentation
9.1. Global Gold Bullion Market, Segmentation by Type, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Gold Bars, Gold Bullion Coins
9.2. Global Gold Bullion Market, Segmentation by Application, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Investment and Wealth Preservation, Central Bank and Government Reserves, Institutional Investment Holdings, Private Investment and Retail Savings, Collateral and Financial Backing Purposes
9.3. Global Gold Bullion Market, Segmentation by Distribution Channel, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Online, Offline
9.4. Global Gold Bullion Market, Sub-Segmentation of Gold Bars, by Type, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Cast Bars, Minted Bars
9.5. Global Gold Bullion Market, Sub-Segmentation of Gold Bullion Coins, by Type, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Standard Bullion Coins, Commemorative Bullion Coins
10. Gold Bullion Market Regional and Country Analysis
10.1. Global Gold Bullion Market, Split by Region, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
10.2. Global Gold Bullion Market, Split by Country, Historic and Forecast, 2020-2025, 2025-2030F, 2035F, $ Billion
Companies Featured
Zijin Mining Group Co. Ltd. Perth Mint Johnson Matthey Mitsubishi Materials Newmont Corporation Barrick Gold Corporation Shandong Gold Mining Co. Ltd. Agnico Eagle Mines Limited AngloGold Ashanti Ltd. PJSC Polyus Kinross Gold Corporation Goldcorp Inc. Royal Canadian Mint Fresnillo PLC Yamana Gold Inc. Randgold Resources Limited Eldorado Gold Corporation Alamos Gold Inc. APMEX Inc. Elemetal LLC. Ohio Precious Metals Valcambi Suisse Argor-Heraeus
For more information about this report visit https://www.researchandmarkets.com/r/a3zv3x
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
Gold Bullion Market
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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- Collective Mining Ltd. Files Annual Report on Form 40-F and Supporting Documentation
Apr 13, 2026
MIAMI, April 13, 2026 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") announces that it filed on March 31, 2026 with the U.S. Securities and Exchange Commission (the "SEC") its SEC Annual Report on Form 40-F for the year ended December 31, 2025. The 40-F includes the Company's Annual Information Form, audited Financial Statements and Management's Discussion & Analysis for the year ended December 31, 2025.Collective Mining Logo (CNW Group/Collective Mining Ltd.)
Collective's shareholders may receive a hard copy of the Company's complete audited Financial Statements for the year ended December 31, 2025, free of charge, upon request. For further information, please visit the Company website at www.collectivemining.com.
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com.
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company's two projects are located directly within an established mining camp with ten fully permitted and operating mines.
The Company's flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company's objectives at the Guayabales Project are to expand the newly discovered high-grade Ramp Zone along strike and to depth, drill test the new Hanging Wall Vein Zone and drill a series of greenfield generated targets on the property.
Additionally, the Company is drilling its optioned San Antonio Project (can earn up to 100% interest) as it hunts for new discoveries and looks to aggressively extend to the south the recently discovered high-grade silver system made at the Pound target. The San Antonio Project is located between two to five kilometers east-northeast of the Guayabales Project and could potentially share infrastructure given their proximity to each other.
Management, insiders, a strategic investor and close family and friends own 45.3% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE American and TSX under the trading symbol "CNL".
Information Contact:
Follow Executive Chairman Ari Sussman (@Ariski73) on X
Follow Collective Mining (@CollectiveMini1) on X, (Collective Mining) on LinkedIn, and (@collectivemining) on Instagram
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans.
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These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events including the direction of our business. Management believes that these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated March 30, 2026. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements.Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2026/13/c0501.html
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- China Backs $1.24 Billion Zambia-Tanzania Rail Upgrade for Copper Exports
Apr 2, 2026
This article first appeared on GuruFocus.
China is stepping deeper into Africa's copper logistics backbone, and the structure of this deal says a lot about control. CMOC Group Ltd. (CMCLY) and Zijin Mining Group Co. (ZIJMF) are partnering with China Civil Engineering Construction Corp. to upgrade the 1,860-kilometer Tazara railway linking Zambia's copper belt to Tanzania's Dar es Salaam port, in a project valued at $1.24 billion. CCECC will hold an 80% stake in the joint venture, while smaller 5% stakes are allocated to participants including Jiayou International Logistics Co., alongside units of the miners and COSCO Shipping Holdings Co.. The structure suggests China is not only financing infrastructure but also positioning itself to operate and control a key export route for critical minerals.
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The timing comes as the US is trying to reshape access to African resources. Washington recently reached a minerals partnership with the Democratic Republic of Congo that gives American companies preferential access to some reserves, while backing the Lobito Corridor rail project connecting the same region to Angola's Atlantic coast. Against that backdrop, the Tazara upgrade could become a competing channel for copper and cobalt flows, particularly as CMOC and Zijin remain among the dominant exporters in Congo. The parallel development of these corridors suggests supply chains for battery materials could increasingly reflect geopolitical alignment, rather than purely cost-driven logistics.
What stands out is how the project will be run after construction. Tanzania and Zambia have granted CCECC a 30-year concession to operate the railway, with partners investing based on their stakes, including Jiayou's $62.2 million contribution. The consortium plans to upgrade infrastructure, acquire locomotives and containers, and shift mineral transport away from long-distance trucking routes. This model, blending state-backed and commercial participation, could reflect a broader shift in China's Belt and Road approach toward more commercially structured projects that still maintain strategic control over logistics networks.
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- Centurion Executes Option Agreement for Limestone Gold Project, near Zijin's Rosebel Gold Mine in Suriname
Mar 26, 2026
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2026) - CENTURION MINERALS LTD. (TSXV: CTN) ("Centurion" or the "Company") is pleased to announce it has executed an Option to Purchase Agreement (the "Agreement") for the Limestone gold project ("Limestone" or the "Project") in Suriname. The Project is located proximal to the Rosebel and Saramacca Mines of Zijin Mining Group Co., Ltd. ("Zijin") (see Figure 1), and areas of extensive small-scale mining (see Figure 4).
The 3,548-hectare Project is well situated for a gold discovery (see Figure 1 below). Historic and active small-scale mining indicates the presence of gold within the Limestone concession. Limestone is situated in the largest and most productive region of both active and historic gold mining in Suriname. This region includes the Rosebel Gold mines operated by Zijin hosting a resource exceeding 6 million ounces of gold (195 tonnes) with a grade of 1.04 g/t (Source: Zijin, Rosebel Mine). In addition, other international mining companies have been active in the region, exploring and drilling projects along the Saramacca and Rosebel Mine trends of Zijin. Limestone appears to be along the Saramacca mine trend.
Figure 1: Limestone proximity to Zijin Rosebel and Saramacca Mines
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4407/289962_centurion_1.jpg
The Limestone gold project maintains an exploitation license granted to the current concession holders (the "Optionors") in 2025. The Project is less than 4 hours by road (or boat) from Paramaribo, Suriname's capital city, with the Saramacca River crossing the concession area.
Gold mineralization in Suriname is primarily controlled by structural and lithological factors within the Paleoproterozoic Marowijne Greenstone Belt of the prolific gold producing Guiana Shield (Source: Journal of South American Earth Sciences). The deposits are predominantly classified as orogenic gold systems formed during the Trans-Amazonian orogeny (Source: Cambridge University Press) (see Figure 3).
Figure 2 (Left): Suriname Location, Source: Google Maps
Figure 3 (Right): Gold deposits of Suriname, Source: Cambridge University Press
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4407/289962_27c1a8eeb41258cb_003full.jpg
Figure 4: Prolific artisanal gold mining within the Limestone concession area and in close proximity
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4407/289962_27c1a8eeb41258cb_004full.jpg
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Suriname has two tier one mines, Rosebel owned by Zijin and Merian owned by Newmont Corp. ("Newmont"), both located within the greenstone belt. Historically, the greenstone belt has been underexplored, however, in recent years the area has experienced a surge in mineral exploration activity from companies including Founders Metals Inc., Miata Metals Corp., Greenheart Gold Inc., and Sranan Gold Corp. Suriname has the potential to develop multiple new mines from concessions having similar potential to Limestone.
Addition of Suriname-Based Exploration and Development Team The Company intends to conduct exploration utilizing an experienced Suriname-based team located in Paramaribo. The exploration and development team is supervised by Dr. Dennis LaPoint, Ph.D., P.Geo, having more than 26 years' experience in Suriname. Dr. LaPoint led the geological team's discovery of what has become the Merian Mine, currently owned by Newmont.
Strategic Focus on Exploration and Mining Jurisdictions: Centurion's Suriname objectives include acquiring additional prospective gold concessions. Specific opportunities have been identified with interested concession holders. In keeping with the Suriname focus, the Company has terminated the Casa Berardi Property Option Agreement.
Transaction Summary:
To earn a 100% interest in the Limestone Gold Project, the Company has executed a 6-year Option to Purchase Agreement. The payments are comprised of US$500,000 cash paid to the Optionors and project exploration expenditures (the "Exploration") of US$500,000, as follows (in USD):
1) $30,000 paid in cash within 30 days of the Agreement's Effective Date (the "Agreement Date")
2) $40,000 paid in cash on the 1st anniversary of the Agreement Date and $50,000 in Exploration
3) $50,000 paid in cash on the 2nd anniversary of the Agreement Date and $75,000 in Exploration
4) $50,000 paid in cash on the 3rd anniversary of the Agreement Date and $75,000 in Exploration
5) $60,000 paid in cash on the 4th anniversary of the Agreement Date and $100,000 in Exploration
6) $70,000 paid in cash on the 5th anniversary of the Agreement Date and $100,000 in Exploration
7) $200,000 paid in cash on the 6th anniversary of the Agreement Date and $100,000 in Exploration.
The project is subject to a 2% Net smelter royalty ("NSR") and the Company has the right to purchase the NSR from the Optionors by paying $1million for each 1%.
Qualified Person Dr. Dennis J. LaPoint, Ph.D., P.Geo., an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Centurion Minerals Ltd. Centurion Minerals Ltd. is a Canadian-based company with a focus on precious mineral asset exploration and development in the Americas.
"David G. Tafel" CEO and Director
For Further Information Contact: David Tafel
604-484-2161
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289962
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- Zijin to Acquire Controlling Stake in Chifeng for $2.64 Billion
Mar 23, 2026
This article first appeared on GuruFocus.
Zijin Mining's (ZIJMF) gold unit is moving to acquire a controlling stake in Chifeng Jilong Gold Mining for 18.26 billion yuan ($2.64 billion), a transaction that could reinforce its position as China's top gold producer. Zijin Gold International will purchase existing mainland-listed shares and subscribe to newly issued Hong Kong shares, lifting its holding in Chifeng to nearly 26% and securing operational control. The deal comes as Zijin continues to expand its footprint across global gold assets, aligning with its broader push to increase output.
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The production profile helps explain the move. Chifeng sold about 14.4 tons of gold last year from operations across China, Ghana, and Laos, while Zijin Gold reported 46.6 tons. Integrating Chifeng could enhance efficiency and scale, with expectations that the target may benefit from Zijin's mining expertise. Market reaction, however, reflected near-term cautionChifeng's Hong Kong shares fell as much as 26% toward the offer price, while Zijin Gold declined as much as 5.5%, tracking softer international bullion prices.
The timing also ties into the broader gold cycle. Zijin has been actively acquiring assets from Africa to Central Asia, positioning for higher production as gold prices, which recently surpassed $5,500 an ounce in January, have since eased but could trend higher over the medium to long term amid global monetary easing. The company recently reported a 62% increase in annual net income, and this latest deal suggests it is continuing to lean into that momentum while consolidating its role in the gold market.
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- Aluminum Piles Up in China as Iran War Shrinks Global Supply
Mar 18, 2026
(Bloomberg) -- Aluminum, one of the metals most directly affected by the war in Iran, is struggling to attract buyers in China after prices surged to a four-year high.
Demand is disappointing, and inventories are piling up, even as factories enter the busy period that follows the Lunar New Year. Stockpiles of primary aluminum have shot above 1.3 million tons, the highest since 2020. More exports beckon to clear the glut.
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“Chinese fabricators have slowed purchases to just meet hand-to-mouth demand,” said Huang Yuyao, an analyst with research firm Mysteel Global. Their appetite only worsened after prices spiked, she said.
The lackluster performance of a widely used industrial material could be a warning sign for China’s broader economy, which rebounded in the first two months of the year but now faces the fallout from higher energy costs and other disruptions due to the conflict in the Middle East.
Although operating rates at the fabricators that shape aluminum have risen since the lunar holiday, overall demand still lags the previous year due to elevated prices, Howard Lau, China materials analyst at HSBC Holdings Plc, said in a note.
The brake on demand for primary aluminum is rippling through the domestic supply chain. Inventories of semi-finished products are around 600,000 tons, about 75% of last year’s level, according to Mysteel.
Aluminum prices surged this month after the US-Israeli strikes on Iran triggered shutdowns and shipping disruptions in a region that accounts for about 9% of global supply.
But the steady increase that preceded the war was already sapping demand in the world’s biggest producer and consumer of the metal. While London Metal Exchange prices have gained 27% over the past 12 months, they’ve risen just 19% in Shanghai, widening the window for exports.
LME aluminum fell 1.5% on Wednesday to $3,349 a ton at 10:55 a.m. in Shanghai. On the Shanghai Futures Exchange, it fell 1.1%.
China’s overseas sales of unwrought aluminum and products had already surged 13% in the first two months of 2026. The country’s habit of ramping up exports because domestic demand is too weak is a bugbear for the world economy, but it’s likely to be welcomed in coming months given the shortfall in Middle Eastern supplies.
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On the Wire
President Donald Trump’s request for a delay to his summit with Chinese leader Xi Jinping is a likely welcome development for Beijing, even as it threatens to inject new uncertainty into ties between the world’s two largest economies.
PetroChina Co., the country’s biggest natural gas supplier, will keep its contract prices largely unchanged this year to shield industrial consumers from surging global energy prices due to the Middle East conflict.
Chinese copper smelters’ treatment and refining charges are likely to remain depressed — 2026’s benchmark collapsed to nil — amid a structural deficit in global concentrates, according to Bloomberg Intelligence.
This Week’s Diary
(All times Beijing)
Wednesday, March 18:
China’s Jan.-Feb. output data for base metals and oil products China’s 2nd batch of Jan.-Feb. trade data
Grains, sugar, cotton, palm oil, pork & beef imports Oil products imports & exports breakdown; LNG & pipeline gas imports Bauxite, steel and aluminum imports; rare-earth product, alumina and copper exports CCTD’s weekly online briefing on coal markets, 15:00 Mysteel’s International Iron Ore Market Seminar in Qingdao, day 1 EARNINGS: CR Power, Power Assets, CK Infra
Thursday, March 19:
Mysteel’s International Iron Ore Market Seminar in Qingdao, day 2 EARNINGS: Cosco Holdings
Friday, March 20:
China sets monthly Loan Prime Rates, 09:00 China’s 3rd batch of Jan.-Feb. trade data, including country breakdowns for energy and commodities China’s weekly iron ore port stockpiles SHFE’s weekly commodities inventory, ~15:30 Mysteel’s International Iron Ore Market Seminar in Qingdao, day 3 EARNINGS: Hongqiao, Zijin Mining, Zijin Gold, HK & China Gas
(Updates with prices in ninth paragraph)
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©2026 Bloomberg L.P.
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- Basic Materials Roundup: Market Talk
Feb 9, 2026
Find insight on Zijin Mining, DSM-Firmenich, Chinese iron-ore stockpiles and more in the latest Market Talks covering Basic Materials.
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- Metals surge boosts value of mining groups by almost $500bn
Jan 28, 2026
The world’s biggest mining companies have added close to half a trillion dollars to their valuations this year, fuelled by a surge in the
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- Gold Surges Above $5,000 on Shutdown Fears, Geopolitical Tensions
Jan 26, 2026
Gold has broken past the $5,000-an-ounce barrier, crossing the key level for the first time on Monday as worries about a U.S. government shutdown added fresh fuel to the metal’s red-hot rally. The precious metal has smashed records over the past year as investors piled into safe-haven assets amid anxiety over geopolitical tensions and frothy equities markets. Dollar weakness and lower interest rates have heightened gold’s appeal, while central banks have been rotating into gold aggressively to burnish their foreign reserves.
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- CMOC Signals Copper Growth as Prices Lift Profit Outlook
Jan 16, 2026
This article first appeared on GuruFocus.
CMOC Group Ltd (CMCLF) is positioning itself for another phase of copper-led growth as higher prices continue to support earnings momentum, while management keeps cobalt guidance steady after a record production year. In an exchange filing, the Henan-based miner outlined copper output guidance of 760,000 to 820,000 tons for this year, implying growth of up to 11% from last year, as the company looks to capitalize on market conditions that have turned increasingly supportive since late last year.
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Copper prices have moved to repeated record levels amid growing concern that supply could struggle to keep pace with demand tied to electrification, alongside ongoing needs from manufacturing and construction. CMOC said these price dynamics helped lift preliminary net income by about half to as much as 20.8 billion yuan last year. The company's outlook comes as larger domestic peer Zijin Mining Group is also pursuing expansion, with copper output targeted at 1.2 million tons as part of a broader push to grow China's mining capacity.
On the cobalt side, CMOC maintained its production guidance at 100,000 to 120,000 tons this year after delivering record output of 117,549 tons in 2025 from its Democratic Republic of Congo operations. That achievement came despite Congo's efforts to curb exports through a ban introduced in February and a new quota system starting in mid-October, measures aimed at addressing oversupply. CMOC, the world's largest cobalt miner, is expected to export 31,200 tons in 2026 in addition to quotas granted last year after delays, as cobalt hydroxide prices have climbed 345% since February and benchmark cobalt prices have more than doubled.
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