Aluminum Ingot Inventory Rises in China, High Prices and New Year Breaks Suppress Demand

[SMM Secondary Aluminum Alloy Daily Review] Futures side, the most-traded secondary aluminum alloy 2604 contract opened at 2,222 yuan/mt, briefly rose above 22,300 yuan/mt after opening but lacked upward momentum to hold above that level. The price then dropped quickly during the session, hitting a low of 21,995 yuan/mt, with intraday fluctuations noticeably widening. It finally closed at 22,120 yuan/mt, down 105 yuan/mt or 0.47% from the previous close, with bears mainly increasing their positions. Spot market side, SMM ADC12 price held steady at 23,650 yuan/mt. As the Chinese New Year approaches, upstream and downstream enterprises in the secondary aluminum industry chain have entered a concentrated holiday period, leading to significantly reduced market liquidity and persistently sluggi

[SMM Analysis]Extended Chinese New Year Shutdowns for Secondary Aluminum Producers, Operating Rates to Pull Back Significantly in February

[SMM News] SHFE data shows that on February 10, the total registered volume of cast aluminum alloy warrants was 67,300 mt, a decrease of 1,235 mt from the previous trading day. The breakdown by region is as follows: Shanghai (6,369 mt, down 60 mt), Guangdong (23,664 mt, down 92 mt), Jiangsu (8,921 mt, down 181 mt), Zhejiang (22,279 mt, down 121 mt), Chongqing (4,714 mt, down 692 mt), and Sichuan (1,353 mt, down 89 mt).