EBRD Loans €13.7M to Alumil Misr for New Aluminum Extrusion Line in Cairo Plant

[SMM Aluminum Alloy Flash Update] Futures, the most-traded aluminum alloy 2604 futures contract opened higher in the morning session and fluctuated upward, hitting an intraday high of 23,975 yuan/mt before noon; it retreated after rapid rise in the afternoon, with a sharp plunge late in the session to an intraday low of 23,290 yuan/mt, and finally closed at 23,420 yuan/mt, down 1.06% on the day. Trading volume increased, while open interest changed slightly. Spot, producers generally raised offers by 300-600 yuan/mt, and the SMM ADC12 price rose to the 24,700-24,900 yuan/mt range. Cost support was significant, and enterprises showed a strong willingness to raise prices. However, current high prices clearly restrained downstream purchasing, with replenishment mainly limited to small orders

[SMM Aluminum Express News] East Hope Group to be mentioned that they have reached an MoU to acquire 5 bauxite IUP in Indonesia from PT Bino Artomas Mineral Group. The 5 IUPs has never been on operation yet; however, geology review has been conducted in the Indonesian lab. It will cost around USD 200 - USD 250 mn for all 5 IUP with an area of more than 100,000 hectares in Ketapang, North Kayong, and Melawi. Current status: East Hope will gather geologist team to conduct the geology review again based on the Chinese lab. 5 IUP mentioned: PT Panca Raja Perkasa PT Cakra Internusa PT Rejeki Jaya Mandiri PT Bino Artomas Mineral PT Ridatama Cahaya Abadi