This beat tracks copper, aluminium, zinc and tin, whose mine disruptions and trade policy shifts signal the pace and cost of global electrification.

Guinea holds the world's largest bauxite reserves and supplies roughly three-quarters of China's imports, making it a critical chokepoint in the global aluminium supply chain.

Russia's UC Rusal controls roughly 6% of global primary aluminium output and holds key European refining assets, making it central to EU sanctions and critical-minerals supply debates.

2026年6月出口上限出台之际，铝土矿价格较2025年初高点下跌约50%；Axis International在许可证被撤销后向世界银行提起289亿美元仲裁；中国铝土矿进口的75%来自几内亚

5月6日的协议彻底解决了GAC活动被暂停的问题；CBG恢复向EGA的塔维拉氧化铝精炼厂供应铝土矿；几内亚的宁巴矿业公司接手桑加雷迪项目资产

按当前扩产速度，中国自设的年产4,500万吨冶炼上限将在2026年底前触及，限制增量供应；欧盟将俄铝的优惠进口配额从27.5万吨削减至2026年2月至12月的5万吨；原铝在伦敦金属交易所2026年上半年均价为2,680美元/吨