Machinery, materials, industrial development and supply chains
OCBC has lifted its end-2026 aluminium price forecast to roughly US$3,150 per tonne due to subdued recovery across Gulf smelters. GCC smelter production growth slowed to 2 percent month-on-month in August, while Chinese output rose 4.7 percent year-on-year. Chinese unwrought aluminium and product exports also increased by 17.3 percent during the month.
Dubai announced strategic trade and investment initiatives on October 2, 2026, targeting deeper ties with Chinese firms in AI, electric vehicles, and fintech. The programme involves major logistics entities such as DP World China and Emirates SkyCargo to enhance bilateral trade corridors.
China's outbound direct investment into the UAE reached $2.6 billion, more than tripling from the previous reporting year and raising cumulative investment stock to $12.47 billion. Bilateral non-oil trade surpassed $100 billion alongside major UAE expansions by Chinese firms including China Securities, JINGDONG Property, and Momenta.
Iran has approved 10 foreign investment projects worth over $130 million in Isfahan Province during the first half of the current Iranian year. The approved ventures include investors from China, the UAE, Afghanistan, Oman, the Netherlands, and Germany-based Iranians. Projects span multiple sectors including solar power, steel production, cotton yarn, clinic construction, and POS terminals.
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