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China

SMM monthly review overseas primary aluminium projects: Concentrated commissioning in 2026-2027
Primary AL
In early June, according to public information, the Kazakh Prime Minister met with the Vice Chairman of Xinfa Group. Xinfa expected that, based on its entire industry chain industrial park construction plan, the project will create a highly integrated production system, achieving full chain production from raw materials to high value-added aluminium products by deeply processing bauxite. After the project is put into operation, the annual alumina capacity is expected to reach 4.8 million tonn ...
Aluminium billet inventory falls to 130,000mt, warehouse withdrawals rebound, processing fees soften
Primary AL
According to SMM statistics, on July 2, aluminium billet inventory in major domestic consumption areas fell to 130,000 tonnes, down 4,000 tonnes from last Monday and 10,000 tonnes from last Thursday, with the pace of destocking visibly accelerating. On a year-over-year basis, it was down 23,500 tonnes from the same period in 2025 and 9,700 tonnes from 2024, pushing total inventory to the lowest level for the same period in nearly three years. In terms of warehouse withdrawals, aluminium bille ...

Downstream
The aluminium bar market in Nanchang is currently characterised by a stark divergence: social inventories have plunged to historic lows amid severe supply-side disruptions, yet downstream demand remains sluggish as the traditional off-season sets in. While tight spot availability has propped up processing fees, breaking free from previous negative ranges, the underlying weakness in consumption suggests this support may be fleeting once logistical bottlenecks ease. Inventory trend analysis Th ...
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