China's Power Grid Construction Booms in 2026, Driving Over 250 Billion Yuan in Upstream and Downstream Investments

[SMM Aluminum Alloy Daily Comment] Today, the price center of ADC12 continued to move upward, with SMM ADC12 quotations rising to 24,000 yuan/mt. Raw material procurement and compliance operation costs remained high, causing a significant squeeze on corporate profits and driving manufacturers to raise prices to pass on cost pressure; meanwhile, supply tightened somewhat, enterprises' finished product inventories were low, and spot cargo supply was tight. With limited demand support, the actual transaction capacity after the price increases still faced a test.

[SMM Aluminum Alloy Flash] According to SMM statistics, the social inventory of secondary aluminum alloy ingots in major domestic consumption areas continued to destock this week, declining by 3,800 mt from last Thursday to 58,700 mt. It has recorded destocking for two consecutive weeks, and the destocking speed accelerated WoW. On the supply side, tight invoice availability forced some secondary aluminum enterprises to control production, leading to a contraction in overall market supply. In circulation, as the spot-futures spread widened, traders accelerated their shipment pace. Coupled with moderate downstream restocking and support from producer buybacks, spot turnover clearly sped up. In the short term, invoice constraints and spot-futures spread support will continue to power destock

According to SMM statistics, as of June 11, the aluminum billet inventory in major consumption areas in China stood at 154,500 mt, down 5,500 mt from Monday and down 8,000 mt from last Thursday.