CITIC Securities says market worries over Chinese electrolytic-aluminum overproduction and an Indonesian capacity ramp may be overstated. Accounting for potential supply disruptions and signs of demand improvement, it expects aluminum prices to be constructive through 2026 and H1 2027 and to remain supported by an approximate $3,000/ton cost curve and incentive price after H2 2027. The firm views Chinese aluminum producers as maintaining investment appeal.

The 2026 China (Nanjing) Embodied Intelligence Robotics Industry Expo will run July 10-12 in Nanjing. Organizers expect 450+ domestic and international exhibitors and 35,000+ professional visitors; the show spans core components (sensors, actuators, AI chips), full systems (humanoid, service and special-purpose robots) and industry solutions, forming a complete technology–product–application ecosystem.

Spot gold traded above $4,200/oz in early trade, hitting a two-week high and rising 0.6% intraday.