SHFE Cast Aluminum Alloy Warrants Down 689 mt to 21,523 mt on July 13

Vedanta Group's BALCO secured Odisha's Karlapat bauxite block, a 200-million-tonne virgin deposit spanning 3,100 hectares, the largest ever offered by the state, after a fiercely contested auction pushed the winning premium to a record 175%, smashing the previous record of 126.76% set in 2023; the block drew intense competition from India's biggest industrial groups including Adani Enterprises, Reliance Industries, and Hindalco, with Adani and Vedanta Aluminium as the final rivals, underscoring how Indian aluminium producers are racing to lock in long-term domestic raw material security amid surging demand from infrastructure, EVs, renewables, and defence under the country's Viksit Bharat 2047 industrial push.

[SMM Aluminum Express] Today, China's daily inventory of secondary aluminum alloy ingots in major consumption areas was 7,832 mt, up 72 mt from the previous trading day, with Foshan (destocking 31 mt) and Ningbo (inventory buildup 103 mt).

[Divergence over Middle East situation persists, short-term aluminum prices to hold up well] Overall forecast, divergence over the Middle East situation persists, the US Fed did not raise interest rates in July, but its overall stance remains hawkish, the fundamental deficit continues, aluminum ingot inventory keeps destocking, and short-term aluminum prices are expected to consolidate on a strong note.