Secondary Aluminum Alloy Ingot Inventory Decreases by 95 mt MoM, 837 mt WoW in Major Consumption Areas

[SMM Flash] SHFE data showed that on February 11, the total registered volume of cast aluminum alloy warrants was 66,848 mt, a decrease of 452 mt compared with the previous trading day. Among them, the total registered volume in Shanghai was 6,490 mt, an increase of 121 mt from the previous trading day; Guangdong's total registered volume was 23,241 mt, a decrease of 423 mt; Jiangsu's total registered volume was 8,831 mt, a decrease of 90 mt; Zhejiang's total registered volume was 22,249 mt, a decrease of 30 mt; Chongqing's total registered volume was 4,684 mt, a decrease of 30 mt; Sichuan's total registered volume was 1,353 mt, unchanged from the previous trading day.

According to CAAM data, in January, automobile production and sales reached 2.45 million and 2.346 million units respectively. Production was up 0.01% YoY, while sales decreased by 3.2% YoY, down 25.7% and 28.3% MoM respectively. NEV production and sales reached 1.041 million and 945,000 units respectively, increasing by 2.5% and 0.1% YoY. NEV sales accounted for 40.3% of total new automobile sales. According to CAAM analysis, in January, the overall automobile industry operated steadily. The passenger vehicle market experienced some decline, while the commercial vehicle market continued its positive trend. The NEV market operated stably, and automobile exports maintained growth. The main factors contributing to the market decline were: first, the transition and adjustment of the NEV purch