China's Secondary Aluminum Alloy Ingot Inventory Rises 72 mt, Led by Ningbo Buildup

Aluminum futures continued to rise, and spot trading sentiment in the central China market slightly cooled. Downstream processing enterprises, constrained by insufficient orders and the continuous increase in aluminum prices, maintained low purchase willingness throughout. Only trading firms engaging in both spot and futures market purchased for arbitrage. However, against the backdrop of rapidly narrowing premiums, the number of sellers increased, and the firmness of quotations declined somewhat. Ultimately, the actual transaction price range in the central China market centered around a premium of -120 to -140 yuan/mt against the SHFE aluminum August contract.

Maruti Suzuki India Ltd.’s Chairman RC Bhargava said the Indian car industry would grow to 6.1 million to 6.3 million units by fiscal year 2030-2031. The share of the small-car market would grow significantly faster than it has over the last five years. Bhargava shared this in his message to shareholders in the company’s 2025-2026 annual report. Maruti Suzuki India Limited is the Indian arm of Japanese automaker Suzuki Motor Corporation. It is the largest automobile manufacturer in India, specialising in small cars.

Foreign news on August 7, Guinea selected Glencore as the bauxite offtaker for the state-owned Nimba Mining Company. Minister of Mines and Geology Sylla Bouna revealed in an interview in the capital Conakry that Glencore was selected through an international tender, and contract terms are still under negotiation. Last August, due to disputes over the construction of an alumina refinery, Nimba Mining Company took over the bauxite mining concession from Guinea Alumina Corporation and positioned itself as a mining champion enterprise. Earlier this week, the company officially signed a bauxite mining contract with the government. In terms of capacity planning, the company has exported 4 million mt of bauxite this year, plans to increase this to 8 million to 10 million mt for the full year, and to further raise it to 12 million mt in 2027. Meanwhile, the company is actively expanding into new business areas such as iron ore, gold, and metal refining. Guinea, the world's largest bauxite exporter, exported 183 million mt last year, mainly to meet Chinese market demand.