SHFE Cast Aluminum Alloy Warrants Up 421 mt to 32,624 mt on April 29

[SMM Aluminum Express] The inventory of secondary aluminum alloy ingots in major consumption regions in China stood at 19,100 mt as of today, a decline of 1,327 mt from Monday.

[Strait of Hormuz Control Dispute Continues; Bearish Factors Dominate Short-Term Aluminum Prices] The Strait of Hormuz control dispute continues, and the resumption of navigation in the strait remains uncertain. The US Fed’s hawkish pivot boosted the US dollar index, and non-ferrous metal prices were suppressed. Under macro headwinds, aluminum prices in and outside China fell. In the short term, bearish factors dominate, and aluminum prices are expected to remain in the doldrums.

EGA (Emirates Global Aluminium) has successfully exceeded 400,000 mt/year of total secondary aluminum capacity across the UAE, Europe, and the US by adding capacity at its Al Taweelah recycling plant and planning to acquire the Italian aluminum recycling enterprise Eco Green. In addition, another 200,000 mt/year secondary aluminum capacity project is under construction in Europe and the US. On the acquisition front, EGA completed acquisitions of secondary aluminum plants in Germany and the US in 2024: EGA Light Metals Germany will expand its capacity to more than 6 times the original level and build a second site near Hannover, adding 150,000 mt/year of capacity, expected to be completed by 2028; EGA Spectro Alloys in Minnesota, US, plans to complete the first-phase expansion in 2025, adding 65,000 mt/year capacity, and add another 35,000 mt/year capacity in 2027. In addition, in April this year, EGA announced its intention to acquire an 80% stake in Italy's Eco Green, and this acquisition plan is currently pending regulatory approval.