Key transactions & industry newsWeekly Update 07/10/2026

Metals & Mining

EGA to ramp up Al Taweelah alumina refinery to 50% of capacity within days. Emirates Global Aluminium said on Friday its Al Taweelah alumina refinery in Abu Dhabi restarted production of the feedstock for aluminum smelting and would ramp up to 50% of capacity within days.

$4B Oklahoma Aluminum Smelter Project moves ahead with technical studies and permitting. A proposed $4B primary aluminum smelter at the Port of Inola in northeastern Oklahoma is moving through technical studies and regulatory approvals, with developers aiming to begin construction in 2027.

Aluminum extrusions hit 37.05% capacity utilization floor as demand slump triggers passive destocking, export blockages deepen glut. Q2 2026 closed with the aluminum extrusion sector trapped in a classic supply-demand crunch. Capacity utilization plunged to a cyclical low of 37.05%, while equipment start-up rates stagnated at 55% - 57%, exposing producers’ proactive output cuts to avoid risk.

Transportation & Logistics

Class 8 truck orders soar 241% as fleets race to secure 2026 build slots. North American Class 8 truck orders continued their remarkable rebound in June, rising 241% year over year compared to the same month in 2025.

CPKC sets new June grain records in Canada, US. CPKC has broken its June record for transporting Canadian grain and grain products across its network, moving 2.8 million metric tons (MMT) of grain from western Canada last month, CPKC officials said in a press release. The record surpasses the previous record, set in June 2020.

USDOT awards $1.7B in BUILD grants. The U.S. Department of Transportation (USDOT) announced $1.73B in federal Better Utilizing Investments to Leverage Development (BUILD) program grants for 127 infrastructure projects across 52 states, territories and the District of Columbia.

LTL carrier Mountain Valley Express shuts down. Less-than-truckload carrier Mountain Valley Express confirmed that it is “no longer operating.” An email from the company said, “Existing accounts and services are no longer active as of July 7, 2026.”

Energy

U.S. power companies scramble to secure equipment as surging data center demand strains supplies. Skyrocketing demand from artificial intelligence data centers is exacerbating shortages of critical grid equipment like transformers across the U.S., driving up costs, stretching out wait times and spurring utilities ​and developers to lock in orders far in advance.

AEP’s Texas unit secures up to $3.26B U.S. loan to boost power grid. American Electric Power said it has secured a loan of up to $3.26B from the U.S. Department of Energy to help boost electricity transmission on the Texas grid.

ExxonMobil to invest $1B in Nigeria’s oilfield, regulator says. ExxonMobil and its partners will invest $1B in the Usan ​Infill Project offshore Nigeria, a development expected ‌to add 40,000 barrels per day (bpd) of oil production, Nigeria’s upstream regulator said.

Petrobras signs $58M deal with Brazil regulator to bring wells into compliance. Brazilian ​state-run oil firm Petrobras signed an agreement with regulator ANP committing to bring 335 temporarily ​abandoned offshore wells into compliance with ​safety and environmental rules, ⁠both parties said in ​separate statements.

Nuclear fuel firm Standard Nuclear eyes up to $3.55B valuation in US IPO. Standard Nuclear is targeting a valuation of up to $3.55B in its ​U.S. initial public offering, as investors increasingly favor energy companies ‌on expectations of rising power demand from the rapid expansion of AI.

Others

Prologis pushes for talks on $16.9B Segro bid. Prologis said it remained ready to engage with Segro’s board over its proposed $16.87B takeover approach.

Getty Images calls off Shutterstock deal after U.K. hurdle. Getty Images has officially called off its merger with Shutterstock, about a week after the deal was dealt a blow by a U.K. regulator.