At what stage has the competition between China and the United States reached?

With Trump’s economic offensive—i.e., the trade war—having failed, and with U.S. military capabilities lagging behind in key areas (e.g., sixth-generation fighter jets and hypersonic missiles), America’s sole remaining relatively stable pillar of hegemony is its financial dominance—specifically, the U.S. dollar’s global reserve currency status. Consequently, the current Sino-U.S. rivalry is increasingly centering on the struggle over dollar hegemony. This will be the final round of competition in the broader process of hegemonic transition between China and the United States. In fact, in the era of economic globalization, the resilience of dollar hegemony proves far greater than many self-media commentators imagine. Since the capitalist world-system has entered the stage of transnational industrial capitalism (see: The Rise and Fall of the Capitalist World-System (II): Internal Structure of Transnational Production Capitalism), and since China occupies the core position in the global supply chain, all direct U.S. offensives against China inevitably collapse under China’s supply-chain countermeasures. Yet the Trump camp refuses to accept defeat. It seeks instead to leverage its residual dollar hegemony to reinforce other pillars of U.S. dominance—a desperate, last-ditch effort akin to a cornered beast lashing out. Economically, Trump pursues a dual-track strategy: first, weakening China’s industrial strength through nearshoring and friend-shoring; second, using tariff policies to incentivize—and coerce—global industrial firms to invest in the United States. Beyond chipmakers like TSMC and strategic enterprises such as rare-earth producers, this includes foundational heavy-industrial facilities—for instance, aluminum smelters: Recently, Century Aluminum and global engineering giant Bechtel formally signed a cooperation agreement to jointly advance construction of a new aluminum smelter in Oklahoma. This facility marks the first newly built aluminum smelter in the U.S. since 1980, carrying the strategic mission of boosting domestic aluminum production capacity and reducing import dependence. Its establishment will help break decades of stagnation in U.S. aluminum output. The plant is located outside Tulsa, Oklahoma, with an estimated investment of $4 billion (approx. RMB 27.7 billion), an annual capacity of 750,000 tons, and projected creation of 1,000 permanent jobs plus 4,000 construction-phase jobs. [1] Similarly, steel plants are also targeted—for example: On March 25, President Trump announced that Hyundai Motor Group pledged a $5.8 billion (approx. RMB 4.21 billion) investment in the U.S. Hyundai will build a steel mill in Louisiana. This move signals the effectiveness of U.S. tariff threats. Hyundai’s total U.S. investment stands at $21 billion, including the $5.8 billion Louisiana steel plant, which will produce over 2.7 million tons of steel annually and generate more than 1,400 jobs. The mill is expected to supply steel to Hyundai’s auto plants in Alabama and Georgia. [2] The Trump camp’s objective is clear: exploit the U.S.’s status as the world’s largest consumer market—underpinned by the dollar’s global currency role—to attract manufacturing investment to American soil and thereby strengthen U.S. industrial capacity. Industrial revitalization is prioritized because the Trump camp’s foremost goal is reviving America’s military-industrial complex, for which foundational heavy industry serves as the essential bedrock.

March 20 Early Morning Review of Calcined Alumina

4. According to ALD (Aladdin) research, the calcined alumina market overall maintains steady transaction momentum. Raw material prices continue rising, while downstream buyers procure based on immediate demand; the market trend remains positive. Spot supply is generally stable with modest growth, though regional mismatches persist—certain grades remain tight, requiring customers to wait one to two days for pickup. Yesterday, major Shandong-based producers raised prices for legacy-line and lightly calcined series products by RMB 50/ton, and for 300ms-series products by RMB 100/ton, prompting upward adjustments in surrounding new-order pricing. Current spot transaction prices for raw powder range from RMB 3,400–3,600/ton; for fine powder, RMB 3,700–3,900/ton. 5. According to ALD’s comprehensive news coverage, State Power Investment Corporation (SPIC) Shanxi Mining’s Ningwu Kuancaoping bauxite mine has received official approval from competent authorities for permanent use of forest and grassland land—laying the groundwork for full-scale commencement. This approval covers Phase I and Phase II of the mining project. Forest and grassland land-use permits constitute the core ‘license to operate’ for open-pit mines, directly impacting production continuity and sustainable development. 6. According to ALD’s comprehensive news coverage, SPIC Aluminum & Electricity’s Guinea alumina project successfully completed the first concrete pour for its power station main building—marking the formal start of main structural construction. As a supporting facility for the alumina project, the power station will house an 85-MW generating unit and incorporate high-efficiency dust removal, flue-gas desulfurization, and denitrification systems. Upon completion, it will provide stable high- and low-pressure steam and electricity to the Viga Industrial Park. 7. According to ALD’s comprehensive news coverage, the Lao government recently signed a Memorandum of Understanding (MoU) on the Oudomxay Province AI Green Power Aluminum Eco-Industrial Park Project with Jidapeng Group and CGN Laos Co., Ltd. The project’s central objective is to jointly develop—with Guangxi Investment Group Co., Ltd. as the principal industrial investor—a green aluminum industrial base centered on 500,000 tons/year of green electrolytic aluminum capacity, backed by 2,000 MW of clean energy, and gradually expanded into a fully integrated aluminum industry chain. 8. According to ALD’s comprehensive news coverage, Chalco Shanxi New Materials Co., Ltd. and Chalco Shanxi Aluminum Co., Ltd. are actively advancing their 1-million-ton alumina energy-saving and efficiency-enhancement upgrade project. Key focus areas include management of digestion system upgrades, hands-on commissioning and operation, post-upgrade productivity improvements, and end-to-end process control across the entire alumina production chain. 9. According to ALD’s compilation of overseas media reports, Guinea’s Presidential Office issued a notice on March 18, 2026, mandating that over 60 state-owned, private, and mixed-ownership enterprises nationwide must remit their fiscal year 2025 dividends by June 30. Private enterprises failing to comply will face revocation of business or mining licenses; general managers of state-owned enterprises will be dismissed and subject to judicial accountability. To enforce compliance, the Guinean government has established an interdepartmental special task force. 10. According to ALD’s comprehensive news coverage, Century Aluminum Company is benefiting from robust aluminum demand and actively advancing both capacity restoration and new smelter construction. The company operates smelters in the U.S. and Iceland, with an annual capacity of approximately 770,000 tons. In 2025, its primary aluminum output totaled ~638,000 tons, with shipments exceeding 647,000 tons. Its principal facilities include Grundartangi (Iceland), Sebree (Kentucky), and Mt. Holly (South Carolina).

Century Aluminum Targets 2027 for Oklahoma Primary Aluminum Smelter Construction

4 days ago

Century Aluminum plans to commence civil works for its $4 billion Oklahoma Primary Aluminum smelter in Q2 2027 despite local regulatory challenges. The facility aims to produce 750,000 tonnes annually, targeting first metal production by 2030.

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