Sichuan-Chongqing UHV AC Reinforcement Project Approved with 15.46 Billion Yuan Investment

[SMM Aluminum Alloy Express] This week, social inventory of secondary aluminum alloy ingots in China fell by 2,800 mt WoW to 50,400 mt, marking the fourth consecutive week of destocking, with inventory levels pulling back further. Supply side, affected by tight supply of tax invoices, restricted procurement of compliant raw materials, and weakening end-use demand, operating rates of secondary aluminum enterprises continued to decline from June, and production release was somewhat suppressed, leading to a corresponding reduction in new warehouse inflows to social inventory. Demand side, the recent accelerating decline in aluminum alloy futures prices drove some downstream dip-buying and increased repurchase willingness among manufacturers, quickening the pace of warehouse withdrawals. In th

[SMM Aluminum Alloy Daily Review] Today, the SMM ADC12 price fell by 150 yuan/mt from the previous day to 23,850 yuan/mt. Amid the continuous price decline, the purchasing enthusiasm of downstream clients did not pick up significantly. Downstream players still mainly made just-in-time procurement, with a strong wait-and-see sentiment and insufficient restocking willingness. Meanwhile, aluminum scrap prices showed relative resilience. In particular, the supply of compliant raw materials remained tight. The price decline further squeezed the profits of aluminum scrap suppliers, leading to an intensified sentiment of holding back from selling and affecting raw material circulation to some extent.