January 19, 2025— Since the pandemic in 2022, downstream demand for aluminum wire and cable gradually recovered. Supported by policies and cost-side advantages, the development of aluminum wire and cable, driven by power grid construction, PV grid connection, and the use of aluminum as a substitute for copper, has entered a prosperous phase, thereby boosting the domestic primary aluminum rod industry with continuous increases in operating capacity. According to SMM, the annual capacity of domestic primary aluminum rod manufacturers was 7.62 million mt, with an additional capacity of 364,000 mt this year. The domestic primary aluminum rod capacity continued to show an increasing trend. With the advancement of power grid construction and the widespread application of new energy, market demand significantly increased, leading to a corresponding growth in aluminum rod supply. Based on SMM's estimates of domestic primary aluminum rod production, the production in 2024 was 4.36 million mt, up 4% YoY from 4.19 million mt in 2023, further boosting market supply...