[SMM Aluminum Flash News] Vedanta Hits Record Aluminum Output, Adds Marginal Supply Support

[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.

[SMM Analysis]Return to Work Drove a Sharp Rise in the Operating Rate of Secondary Aluminum Producers in March, Expected to Decline in April

[SMM Update] SHFE data showed that on April 14, the total registered cast aluminum alloy warrants stood at 30,434 mt, a decrease of 213 mt from the previous trading day. Specifically, Shanghai (1,822 mt, down 90 mt), Guangdong (11,846 mt, down 153 mt), Jiangsu (3,938 mt, up 61 mt), Zhejiang (8,019 mt, unchanged), Chongqing (3,603 mt, down 31 mt), and Sichuan (1,206 mt, unchanged).