Australia Plans $300 - 470 Million Bailout for Tomago Aluminium with Discounted Renewable Power

[SMM Secondary Aluminum Alloy Flash] This week, China's social inventory of secondary aluminum alloy ingots fell 6,100 mt WoW to 44,300 mt, marking the fifth consecutive week of destocking, with the destocking speed accelerating WoW. Tight tax invoices and restricted procurement of compliant aluminum scrap continued to constrain enterprise production, keeping new warehouse inflows at a low level. Meanwhile, order deliveries and the recent widening of spot-futures price spreads boosted manufacturers' repurchase demand, driving inventories down further. It is expected that in the short term, affected by tight aluminum scrap supply, secondary aluminum enterprises will struggle to significantly ramp up operating rates, and social inventory will remain low.

[SMM Aluminum Express News] Magnitude 7 Metals will restart potline one at its Marston, Missouri aluminium smelter, bringing an additional 75,000 tpy of primary aluminium capacity online by the end of 2026. The American Primary Aluminum Association (APAA) welcomed the decision, noting that the restart, together with Century Aluminum’s Mt. Holly restart, could increase US domestic primary aluminium production by more than 20% while creating hundreds of manufacturing jobs and strengthening supply chain resilience.

Aluminum futures pulled back from yesterday's morning session. Today, trading sentiment in the central China spot market slightly recovered, with downstream processing enterprises exhibiting the sentiment of rushing to buy amid continuous price rise and holding back amid price downturn. The rebound in absolute prices also boosted suppliers' willingness to sell, and overall market trading volume increased MoM. Ultimately, the actual transaction price range in the central China market was around a discount of 40-60 yuan/mt against the SHFE aluminum July contract.