Shandong Aluminum Smelter Raises Prebaked Anode Tender Price by 200 Yuan/mt for May

[SMM Aluminum Express News] Egypt Aluminum Company confirmed that Trafigura is expected to take a minority stake in the proposed Naga Hammadi expansion project in Egypt. The project remains under feasibility study and negotiation, targeting an additional 300,000 tons per year of aluminum capacity with estimated investment of US$900 million.

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in China's major consumption areas increased by 200 mt from the previous trading day to 30,800 mt, continuing a slight inventory buildup trend.

[Inventory Buildup Weighs on Domestic Aluminum Prices; Ex-China Support and Risks Coexist] The risk of supply disruptions to aluminum production outside China has not yet subsided, and the ex-China aluminum ingot supply-demand gap will continue to provide support for aluminum prices. Meanwhile, the continuation of higher-than-expected inventory buildup in China will weigh on domestic aluminum prices. At the same time, tightened invoicing restrictions have constrained aluminum ingot spot liquidity, and the weakening spot market further limits the upside room for domestic aluminum prices. Close attention should be paid to the potential emergence of a turning point in China's social inventory, which could drive a rebound and rise in aluminum prices.