SHFE Cast Aluminum Alloy Warrants Drop to 57,044 mt on March 10

[SMM Aluminum Express News] Chinalco International has signed a supplementary EPC contract with PT Borneo Alumina Indonesia for a 1 million tons per year metallurgical-grade alumina project in Indonesia. The project is split into two sub-projects: 1. The alumina plant was completed on February 11, 2026. 2. The tailings system will run from March 1 to June 30, 2027. Successful implementation is expected to positively impact the company’s performance, though it faces various risks that will be actively managed.

[SMM Cast Aluminum Alloy Morning Comment: Geopolitical Disruptions Push Up Costs, Weak Demand Caps Gains] The US-Iran conflict disrupted passage through the Strait of Hormuz, driving market sentiment and pushing up aluminum prices. On Tuesday, spot primary aluminum surged 300 yuan/mt from the previous trading day, and the aluminum scrap market generally followed the upward trend. The tightening regulatory stance on the "reverse invoicing" policy remained unchanged, with compliance costs in the aluminum scrap recycling process staying elevated, and available supplies with proper invoices remained tight.

Vedanta reported record aluminum output of 2.456 Mt in FY26, up 1% YoY, while alumina rose 48% to 2.916 Mt. With refinery capacity at 4 Mt/year, the growth reflects strong expansion. It adds some supply, but overall balance still depends on global disruptions.