【Live Broadcast: Outlook on Domestic and Overseas Magnesium Market, International Industry Chain's Expectations for Sustainable Development of Magnesium Supply Chain, Progress in Magnesium Alloy Applications】 ►The Important Supporting Role of Magnesium Materials in the Layout of New Quality Productive Forces for Future Industrial Development ►Lancheng Awaits, Xiwang Welcomes You ►Key Technologies and Development Trends in Lightweight Design and Low-Carbon Manufacturing ►Pain Points, Measures, and Expected Outcomes of the Magnesium Industry Chain ►Development and Application of High-Performance Injection Molding Magnesium Alloy ►R&D and Application of Stainless Magnesium Alloy ►Improving the Strategic Layout of the Entire Magnesium Industry Chain, Accelerating the Construction to Become a Leader in the Magnesium Industry ►Development and Application of Haitian Large Magnesium Alloy Injection Molding

【ADC12 Price Daily Review: Aluminum Prices Plunge, Secondary Aluminum Prices Remain Stable with Downward Trend】 Aluminum prices continued the downward trend from last Friday. The SMM A00 aluminum price dropped by 60 yuan/mt to 20,560 yuan/mt compared to the previous trading day. The domestic SMM ADC12 price remained flat in the range of 20,900-21,100 yuan/mt.

In terms of aluminum billet inventory, according to SMM statistics, the inventory in mainstream consumption areas in China stood at 261,000 mt on March 31, down 23,500 mt WoW. Due to ongoing overseas trade frictions and fluctuating tariffs, SHFE aluminum hovered at low levels today, with the market seeking support and confidence. The aluminum billet market remained relatively cautious, as supply side is expected to tighten, and suppliers maintained a firm stance on quotes. However, the outlook for aluminum prices remains uncertain, limiting the extent of price support. Downstream players maintained a wait-and-see approach due to the continuous decline in aluminum prices, leading to weaker market transactions. Today, the Foshan aluminum billet market quoted 220/270, up 10; the Wuxi market processing fees quoted 320/350, up 20; and the Nanchang region processing fees quoted 280/330, up 30. (Unit: yuan/mt)

SMM Spot Aluminum Midday Review: Market Sentiment Turns Cautious, Spot Market Transactions Fall Short of Expectations

India's Refined Copper Production Up 7.1%, Iron Ore Production Up 4.4% YoY in FY 2024-25. On March 30 (Sunday), preliminary data released by the Indian Ministry of Mines showed that India's aluminum production increased slightly by 0.9% to 3.836 million mt during April-February of FY 2024-25. Meanwhile, refined copper production in FY 2024-25 rose 7.1% to 497,000 mt. India is one of the top 10 refined copper producers globally, ranks fourth in iron ore production, and is the second-largest aluminum producer worldwide. (Webstock Inc.)

March 31 (SMM) - According to SMM statistics, the inventory of aluminum ingots in mainstream consumption areas in China stood at 800,000 mt on March 31, down 2,000 mt WoW from last Thursday and down 27,000 mt WoW from last Monday.

Last Friday night, LME copper opened at $9,794/mt, with the highest price reaching $9,887.0/mt and the lowest price dropping to $9,773.0/mt.

March 31 News: According to SMM statistics, the inventory of aluminum billets in mainstream domestic consumption areas on March 31 was 261,000 mt, down 23,500 mt WoW.

China has unveiled an ambitious agenda to extend its carbon trading system to encompass the steel, cement, and aluminium smelting sectors.

【SMM Aluminum Morning Meeting Summary: External Bearish Factors and Fundamental Positives Intertwined, Focus on Support Level of the Most-Traded SHFE Aluminum Contract】On the macro front, the US core PCE price index unexpectedly accelerated, increasing uncertainty in the US economic outlook. The new round of US tariffs has been volatile, disrupting the global aluminum market. On the fundamentals side, the aluminum industry chain remains predominantly positive, with the seasonal destocking trend during the "Golden March and Silver April" period becoming more pronounced. Aluminum ingot inventory has sharply declined and is approaching the 800,000 mt mark. End-use consumption, such as in the NEV sector, is steadily growing, and downstream restocking demand has also shown signs of recovery. As the peak consumption season approaches, order volumes and operating rates in most sectors have rebounded, coupled with continued destocking of aluminum ingot social inventory, providing bottom support for aluminum prices. However, the short-term market is still somewhat suppressed by external bearish factors, with the US dollar rebounding to a high level, putting pressure on base metals. Focus on the support level of the most-traded SHFE aluminum contract at 20,500 yuan/mt. Continue to closely monitor changes in macro sentiment and the actual release of downstream demand.