The global aluminium market is fragmenting as EU CBAM rules, US tariffs and China’s production cap redirect trade flows and reshape regional premia. Clean, verifiable metal increasingly commands premiums in Europe, North America, Japan and Korea, while high-carbon Indonesian and Chinese supply is pushed into a widening discount corridor. Scrap scarcity and evolving freight patterns further reinforce this bifurcation, tightening premia even amid a nominal primary surplus.

The New Metals Standard has been devised by George Griffiths of AMT Futures to explore the return to tangible value in a world of shifting monetary order and industrial transformation.

13/11/25 Proof of Work, in Metal Lately the global search for independent stores of value has expanded beyond vaults to blockchains. Digital tokens for gold signal how physical wealth can be represented through programmable ownership. Long before tokenisation arrived on the finance scene, certain materials already embodied many similar traits - decentralised, verifiable, energy-backed: Aluminium is one. Cryptocurrencies draw value from computation that confirms ownership – electricity is...