China's Secondary Aluminum Alloy Ingots Inventory Down Slightly to 31,300 mt WoW

[SMM Express] Tuopu Group's subsidiary, Guangzhou Tuopu Auto Parts Co., Ltd., was established, with a business scope covering R&D and manufacturing of auto parts and accessories, remanufacturing of auto parts, and wholesale of auto parts and accessories. Equity penetration showed that the company is 100% wholly owned by Tuopu Group.

[SMM Express] According to reports, on May 18, Ningbo Haiwei Auto Parts Co., Ltd. held a groundbreaking ceremony for its Fujian Wuping NEV lightweight product manufacturing project. The project is a key new energy industry project introduced by Wuping County, Fujian, with a planned land area of 146 mu, including 50 mu for Phase I and 96 mu for Phase II. It is expected to build a modern industrial park integrating R&D, production, and supporting facilities. Upon completion and commissioning, the project is expected to form an annual capacity of 330,000 NEV auto body and chassis lightweight core parts.

[SMM Aluminum Alloy Daily Review] Futures side, the most-traded aluminum alloy 2607 contract opened at 23,145 yuan/mt in the morning session today, reaching an intraday high of 23,200 yuan/mt. Bulls then lost momentum, and prices continued to decline, hitting a low of 22,995 yuan/mt. The midday close was at 22,995 yuan/mt, down 110 yuan/mt or 0.48% from the previous settlement price. Spot side, the ADC12 market overall maintained a wait-and-see stance with stable prices today, with the SMM ADC12 price holding steady from the previous day at 23,700 yuan/mt. Under the two-way tug-of-war between supply and demand, ADC12 prices are expected to move sideways in the short term, with overall market sentiment remaining cautious.