Chalco Cuts Aluminum Prices in Major Markets on June 19

On November 7, Chinalco Group and CATL signed a strategic cooperation agreement in Ningde, Fujian. Duan Xiangdong, Party Secretary and Chairman of Chinalco Group, and Wang Shilei, Deputy Party Secretary and General Manager, held talks with Robin Zeng (Zeng Yuqun), founder, Chairman, and CEO of CATL, and Zheng Yelai, Co-President of the Market System, and witnessed the signing. Dong Jianxiong, a member of the Party Leadership Group and Deputy General Manager of Chinalco Group, and Xiao Lina, Executive President of CATL’s Zero-Carbon Energy Business Division, signed the agreement on behalf of their respective organizations. Duan Xiangdong expressed his gratitude for the trust and support CATL has placed in Chinalco Group and reviewed the history of their partnership. He noted that the two companies have long maintained a close collaborative relationship. Since the initial signing of a strategic cooperation agreement in 2021, they have continuously strengthened communication, yielding fruitful results in areas such as the supply of aluminum and copper alloy materials for batteries, the comprehensive green energy transformation of production bases, the development of green energy-powered logistics ecosystems for mines, and the joint R&D of new non-ferrous metal materials for the new energy sector. He expressed hope that both sides would further deepen cooperation in the R&D of non-ferrous metal materials for batteries, the integration of zero-carbon mining, green manufacturing, and green logistics, as well as the recycling and circular use of metals, to achieve a higher level of mutually beneficial outcomes.

[SMM Aluminum Alloy Brief] The most-traded AD2701 contract moved lower overall this week, pulling back continuously from Monday's high of 22,715 yuan/mt: On Tuesday, it plunged to 21,840 yuan/mt on heavy volume and rising open interest, a drop of as much as 3.23%, and overnight it dipped to a low of 21,500 yuan/mt, hitting a roughly nine-month low. Today, it rebounded from the low of 21,520 yuan/mt and closed at 21,815 yuan/mt as of the 11:30 midday session, down 425 yuan/mt from yesterday's settlement. In the spot market, SMM ADC12 price fell 300 yuan/mt from the previous day today, with increasing downward pressure. Primary aluminum and futures pulled back notably, fueling bearish sentiment. Enterprises lowered their quotes accordingly, but the extent of price cuts varied due to constrai

[ADC12 Price Daily Review: Aluminum Prices and Futures Accelerate Decline, ADC12 Spot Prices Adjusted Down Under Pressure] The most-traded AD2701 cast aluminum alloy contract opened at its lowest level of 21,520 yuan/mt today, then rebounded on higher volume, touching an intraday high of 21,895 yuan/mt before closing the morning session at 21,815 yuan/mt, down 425 yuan/mt or 1.91% from yesterday's settlement price.