Yunnan Aluminium Co., Ltd. released its 2025 annual report. During the reporting period, the company achieved operating revenue of RMB 60.043 billion, a year-on-year increase of 10.27%. Net profit attributable to shareholders of the listed company was RMB 6.055 billion, a year-on-year increase of 37.24%. During the reporting period, the company produced 1.3036 million tons of alumina and 3.2259 million tons of aluminum products, a year-on-year increase of 6.47%.

On August 8, 2024, SMM reported that the total social inventory of aluminium ingots was 829,000 mt, with a domestic circulating inventory of 703,000 mt.

In March, SMM data showed that China's copper cathode output was 999,500 mt, an increase of 49,200 mt or 5.18% from the previous month, a year-on-year increase of 5.06%, and an increase of 29,300 mt from the expected 970,200 mt. The total output from January to March was 2.9196 million mt, an increase of 207,100 mt or 7.64% year-on-year.

According to SMM statistics, China's aluminium output was 3.555 million mt in March (31 days), up 4.19% YoY.

The macro front was positive. Fed maintained interest rates unchanged in March, which was in line with expectations.

On Mar 21, 2024, SMM data showed that the social inventory of aluminum ingots in China’s eight major markets was 851,000 mt, (the amount for sale stood at 725,000 mt), up 8,000 mt WoW, up 4,000 mt from Mar 18, and 360,000 mt higher than pre-CNY holiday level, remaining at the lowest compared to the same period of past seven years.