China's Cast Aluminum Alloy Inventory Down 9 Weeks, Momentum Slows

[SMM SHFE Aluminum Spot] In early trading, the trading center of the SHFE aluminum 2608 contract was higher than the same period of the previous trading day. The rise in aluminum prices caused a notable decline in market procurement sentiment. During the day, some suppliers quoted at around parity against the SHFE aluminum 2608 contract, and market price acceptance remained weak. Mainstream transaction prices mainly ranged from a discount of 10 yuan/mt against the SHFE aluminum 2608 contract to parity with it. In east China, the shipment sentiment index today was 3.13, down 0.03 from the previous trading day; the procurement sentiment index was 2.90, down 0.10 from the previous trading day.

[SMM Aluminum Express News] Hydro reported adjusted EBITDA of NOK 8.9 billion in the second quarter of 2026, up 15% year on year, supported by higher aluminum prices, stronger product premiums and improved recycling earnings. The company generated NOK 4 billion in free cash flow during the quarter, while announcing the restart of 75,000 tonnes of curtailed capacity at the Slovalco aluminum smelter in Slovakia during the second half of 2026. Hydro's aluminum operations continued to deliver strong operational performance, with record casthouse production in Norway and higher output from its Alunorte alumina refinery. The company also signed a 5 TWh long-term renewable power agreement with Eviny, increasing power coverage for its Norwegian operations to 85% of sourcing needs in the 2030s, while noting that the global ex-China alumina market remained oversupplied despite raw material constraints in Indonesia and Australia.