Secondary Aluminum Ingots Inventory Up on Sep 29: SMM

On August 4, Zhongfu Industrial announced that its wholly-owned second-tier subsidiary Gongyi Huifeng plans to acquire the capacity quota and some assets of Gongyi Xinge's 200,000 mt/year secondary aluminum liquid project for 33.2057 million yuan, and on this basis, invest in and build the "Project Asset Upgrade and Transformation Project" and the "New 100,000 mt/year Secondary Aluminum Liquid Project."

On July 31, Zhongfu Industrial said during a survey that in H1 2026, its aluminum deep processing business continued to carry out quality and efficiency improvement, as well as development of Chinese and overseas markets. First, it benchmarked against advanced international levels, improving production efficiency and output through measures such as process optimization, digital and intelligent upgrades, and lean management. Second, based on changes in domestic and overseas markets, it adjusted the proportion of domestic sales and exports in a timely manner to enhance profitability. Third, it accelerated the R&D and market promotion of high-value-added products such as aluminum foil for new energy battery aluminum-plastic film, enriching its high-value-added product portfolio. In H1 2026, both production and sales of the company's aluminum deep processing business achieved YoY growth.

On July 31, Hongqiao Holdings announced that it plans to raise up to 12 billion yuan through a private placement. After deducting issuance expenses, the funds are planned for wind power projects (5.65 billion yuan), PV projects (2.25 billion yuan), aluminum downstream processing projects (2.3 billion yuan), and repaying bank loans and supplementing working capital (1.8 billion yuan).