Inalum CEO Optimistic on Indonesia's 2030 Aluminium Self-Sufficiency, Boosting FX Reserves

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in major consumption areas decreased by 142 mt MoM from the previous day and by 152 mt from the pre-holiday level.

[SMM Aluminum Alloy Daily Report] Futures side, the most-traded aluminum alloy 2604 contract opened at the day's low of 22,275 yuan/mt, and the futures rose steadily, hitting a high of 22,740 yuan/mt during the session. In the afternoon, prices pulled back from the highs, but the overall decline was limited, with prices remaining above the moving average. Spot side, secondary aluminum market quotations were mostly stable, with the SMM ADC12 price holding at 23,750 yuan/mt. Downstream inquiries and actual transactions recovered today, but the overall trading atmosphere remained cautious, and market sentiment was relatively mediocre.

Formosa Springs, the renowned Canadian mineral water brand, has relaunched under new ownership, with a major focus on expanding its aluminium can production. The company estimates its aluminium packaging capacity could reach up to 100 million cans annually, alongside its existing glass bottling operations.