Nigeria and African Finance Corporation (AFC) Sign USD 1.3B Deal for Alumina Refinery and Mining Projects

[smm aluminum alloy futures review] the most-traded al2604 futures contract fluctuated upward today. after a slight pullback in the early session, it stabilized and continued to rise in the afternoon, reaching the day's high at the close. it closed at 23,180 yuan, up 450 yuan/mt from the previous close, with a gain of 1.98%. trading volume was 14,947, and open interest was 6,875, mainly due to short positions being reduced. during the day, trading volume slightly increased while open interest decreased, indicating a rise on reduced positions. the price broke through the recent range, closing with a bullish candlestick. the kdj indicator turned upward, suggesting that bulls had an advantage in the short term, and the sentiment in the futures market was relatively strong.

[Secondary Aluminum Alloy Daily Review] Today, the quotations in the secondary aluminum alloy market were generally raised. Before noon, manufacturers generally increased prices by 100 yuan/mt, and some enterprises, supported by bullish expectations and low finished product inventories, raised their prices by up to 200 yuan/mt. In the afternoon, futures significantly surged, further strengthening market sentiment, and some manufacturers followed suit with another price hike, resulting in a cumulative increase of 100-400 yuan/mt for the day. As enterprises gradually resumed production, market supply slowly recovered, and willingness to sell among manufacturers improved; however, the pace of resumption of work downstream after the holiday was relatively mild, and the release of orders remain

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 02 Mar , 2026