Flash: SHFE aluminium inventory sets new high

Azerbaijani President Ilham Aliyev said at an industry development meeting held on Tuesday that Azerbaijan plans to launch a new national program aimed at developing the mining and metallurgical industries, with the goal of raising annual aluminum production to 100,000 mt by the end of 2030 and building multiple plants. Aliyev noted that the country had previously received proposals from foreign partners for aluminum production development, but the relevant plans failed to materialize. As a result, Azerbaijan will instead pursue independent development of its aluminum industry, adopting mechanisms that can genuinely bring benefits to the domestic economy.

Metlen Energy & Metals PLC is investing €25 million in its secondary aluminum production facility EP.AL.ME. in Greece, aiming to enhance processing capacity and further utilize complex aluminum scrap streams. As Greece's largest independent secondary aluminum producer, Metlen will use this investment to introduce automated sorting, processing, and melting equipment at EP.AL.ME. Upon project completion, the facility will be capable of handling more complex scrap, including post-consumer aluminum recovered from retired products. Metlen expects that once development is fully completed, total production from combined operations will exceed 250,000 mt.

[Operating capacity outside China rises; aluminum prices continue to consolidate at highs] Overall, aluminum prices are expected to consolidate at highs in the short term.