Metals & Mining
Century Aluminum valuation surges after U.S. smelter JV, restart push and earnings strength. Century Aluminum, a global metal and mining company focusing on bauxite, alumina and aluminum, shares price valuation are being checked, especially after the Oklahoma smelter joint venture (JV) and the recent asset reshuffling.
Cairo rolls out monorail service with aluminium train sets supplied by Alstom. Cairo has officially opened its first monorail route, a 56.5 km corridor with 22 stations, launched in the presence of President Abdel Fattah El-Sisi. The system is expected to carry up to 500,000 passengers per day, adding a new high-capacity transit option to the city’s transport network.
Vedanta delays demerger deadline to June 2026 amid pending regulatory approvals. Vedanta Limited has extended its business demerger deadline further to June 30, 2026, postponing it a third time and citing the pending regulatory approvals as the reason behind it.
Azerbaijan Aluminum moves toward liquidation, assets to be transferred to Azeraluminum. Azerbaijan Aluminum is being liquidated following a decree signed by Ilham Aliyev, the President of Azerbaijan. The decision is part of broader steps to develop the mining and metallurgy sectors in the country.
Nigeria signs $1.3B deal for an alumina refinery to curb Africa’s raw bauxite exports. Several African countries, including Nigeria, are increasing efforts to use their large bauxite reserves for industrial development. Governments and investors are shifting from exporting raw minerals to processing them within the country.
Transportation & Logistics
APM Terminals wraps up $73M rail expansion at Port of Los Angeles. APM Terminals has completed a $73M upgrade of its Pier 400 terminal at the Port of Los Angeles, effectively doubling its capacity, the company has announced.
Strait of Hormuz closure pushes Asia-U.S. ocean rates up 29%. The effects of the Iran war are being felt across the global supply chain, as container rates rise sharply on vital headhaul trade routes including to the United States, an analyst said.
Mercedes-Benz sets $4B investment in plant served by Norfolk Southern. Mercedes-Benz plans to invest $4B at its Alabama plant by 2030, site of the German automaker’s first U.S. production facility. The company at a ceremony this week marked production of 5 million vehicles since it opened in 1997.
South Korean-owned U.S. shipyard gets first Navy contract. A Philadelphia shipyard owned by a South Korean industrial conglomerate said it has been awarded its first U.S. Navy contract. Hanwha Defense USA and Hanwha Philly Shipyard will serve as a design subcontractor to Norwegian shipbuilder Vard Group’s U.S. division on the Next Generation Logistics Ship program, for vessels that resupply Navy ships at sea.
U.S. ‘monitoring’ China retaliation against Panama ships. The U.S. Federal Maritime Commission said it is monitoring possible retaliation by China against Panama-flagged vessels for its effect on global shipping.
Iran war costing Hapag-Lloyd $40-50M per week: CEO. The U.S.-led war in Iran is costing Hapag-Lloyd $40M to $50M per week, its chief executive said, as fuel, insurance and other costs skyrocket during the conflict.
Energy
U.S. regulators grant California’s last nuclear power plant 20-year operating life extension. Federal regulators approved an operating license extension for California’s last-standing nuclear power plant, allowing it to run for another 20 years if it also gets state legislative approval, the governor of the most populous U.S. state said.
Israel halt order threatens Energean’s $1B gas expansion timeline. Oil and gas producer Energean is spending about $10M a month to keep its shut-in Israeli offshore operations on standby, and its more than $1B Katlan project will be delayed if the Iran war lasts beyond May.
Venezuela’s oil exports surpassed 1M bpd for the first in 6 months, shipping data shows. Venezuela’s monthly oil exports surpassed 1 million barrels per day in March for the first time since September, with sales to refiners in India and shipments by trading houses to the Caribbean for storage pushing up volumes, according to ship-tracking data.
Petrobras allows distributors to pay for 55% jet fuel hike in installments. Brazilian state-run oil firm Petrobras will allow distributors to pay for a hefty increase in jet fuel prices announced for April in installments, adding that a similar measure could also be adopted in May and June.
Microsoft, Chevron and Engine No. 1 sign exclusive deal for power supply. Microsoft, Chevron, and investment fund Engine No. 1 have entered into an exclusivity agreement for power generation and supply.
Others
Nike can’t fix its China problem and that’s tanking its stock. Nike shares tumbled more than 15% after executives forecast lower revenue the day before, especially in China, where it warned sales could drop by as much as 20% this quarter.
Lilly’s obesity pill approval kicks off new front in weight-loss drug wars. Eli Lilly’s once-daily pill for weight loss got approval from U.S. drug regulators. The all-clear sets up a battle with rival Novo Nordisk, which has been selling a pill version of its Wegovy since the start of this year.
AT&T pledges up to $2B to upgrade emergency cellular network. AT&T agreed to a deal worth up to $2B to improve the federal emergency cellular network it runs for the Commerce Department, promising system upgrades and lower rates in exchange for faster government approvals.
