[SMM Aluminum Flash News] On March 17, LME aluminum inventory stood at 440,300 mt, down 2,500 mt from the previous day, a decrease of 0.56%; over the past week, LME aluminum inventory decreased by a cumulative 12,100 mt, a drop of 2.66%; over the past month, LME aluminum inventory decreased by a cumulative 41,200 mt, a decline of 8.56%.

SMM, March 17: Aluminum ingot: Today, sentiment in the Foshan A00 spot aluminum market recovered moderately. The rebound in early-session futures prices drove spot prices higher, and suppliers took the opportunity to accelerate cashing out. Traders showed moderate willingness to purchase, while major players held prices firm in procurement, but downstream buyers were unwilling to rush to buy amid continuous price rise. In the afternoon, futures moved downward, buyers turned cautious, and transactions started steady before weakening, with overall performance showing a mild rebound. Aluminum billet: Today, the average processing fees for SMM 6063 aluminum billet (Guangdong) were 70 yuan/mt for Φ90/100 and 20 yuan/mt for Φ120 and above, down 80 yuan/mt from yesterday. The rise in the base price caused processing fees to continue to decline, while weaker intraday futures prices intensified downstream bearish sentiment, with procurement mainly driven by immediate needs. After futures surged and then pulled back, offers were lowered accordingly. Market inquiries were scarce, transactions were sluggish, and even volume discounts remained ineffective in stimulating deals.

[SMM Flash News] SHFE data showed that as of March 17, the total registered volume of cast aluminum alloy warrants was 53,078 mt, a decrease of 362 mt from the previous trading day. By region, the total registered volumes were Shanghai (4,508 mt, down 92 mt), Guangdong (18,792 mt, down 300 mt), Jiangsu (6,818 mt, up 392 mt), Zhejiang (17,338 mt, down 332 mt), Chongqing (4,114 mt, unchanged), and Sichuan (1,508 mt, down 30 mt).

[SMM Aluminum Alloy Daily Review] Futures side, the most-traded aluminum alloy 2604 contract opened at 23,710 yuan/mt in the morning session and then quickly climbed, once touching an intraday high of 23,945 yuan/mt. Bulls then lost momentum, and prices pulled back step by step. In the afternoon, it fluctuated rangebound, and late in the session it fell further to an intraday low of 23,575 yuan/mt, finally closing at 23,725 yuan/mt, up slightly 0.17% from the previous trading day. Spot side, the ADC12 market was largely stable overall today, with a few enterprises raising quotes slightly. Supported by a modest strengthening in aluminum scrap prices, cost support for some enterprises improved somewhat, but due to limited fluctuations in aluminum prices and generally weak downstream demand,

China Aluminum Cans released its 2025 annual report on March 16. During the reporting period, the company achieved operating revenue of HK$233 million, a year-on-year increase of 2.27%; net profit attributable to shareholders was HK$19.027 million, a year-on-year increase of 3.59%.

On March 16th, Dongxing Aluminum held a groundbreaking ceremony for the first phase of its high-end electrical round aluminum rod continuous casting and rolling project. The project has a planned total capacity of 200,000 tons per year and will be constructed in two phases. The first phase, with a capacity of 100,000 tons per year, is scheduled for completion by the end of December this year. Guided by the principles of "intelligentization, greening, and integration," the project leverages the company's existing high-quality electrolytic aluminum resources to produce L3 and above series of high-strength, high-conductivity aluminum alloy guide rods, with high-end products accounting for over 50%.

March 16, Yongzhen Co., Ltd. issued an announcement stating that the company plans to invest 480 million yuan to implement a "Technical Upgrading Project for the Annual Production of 70,000 Tons of Ultra-Wide Thin-Wall Flat Extruded Aluminum Profiles and Their Deep-Processed Products" at its existing plant in Changzhou, Jiangsu Province. The project has a construction period of 12 months and is expected to commence on March 25. Through technological upgrades to the existing production lines, the company will achieve an annual production capacity of 70,000 tons of ultra-wide thin-walled flat extruded profiles. 40,000 tons of profiles will be used for deep processing, ultimately forming an annual production capacity of 40,000 tons of deep-processed products for new energy applications.

SMM, March 17: The SHFE aluminum 04 contract opened higher and extended gains today, with strong bullish sentiment in the market. Sellers held prices firm, buyers showed greater price acceptance, and purchasing enthusiasm also increased. Today, mainstream quotations and transaction prices in the market were concentrated at -10 yuan/mt to +10 yuan/mt. Today, the east China market shipment sentiment index was 3.12, down 0.05 MoM; the purchasing sentiment index was 2.7, up 0.04 MoM. Today, futures prices opened lower and moved higher. Before the opening, quotations in the central China market were relatively high, mainly at discounts of 320-330 yuan/mt against the SHFE aluminum 04 contract, then prices gradually declined. Traders maintained strong bullish sentiment and high enthusiasm for purchase, with overall trading volume relatively large. As suppliers basically finished shipments, circulating spot availability became tight, and market quotations continued to rise, but the transaction scale was relatively small. In the end, the actual transaction price range in the central China market was around 10 yuan below the central China price to 40 yuan above the central China price. Today, the central China market shipment sentiment index was 2.6, down 0.02 MoM; the purchasing sentiment index was 2.38, up 0.02 MoM. Inventory side, aluminum ingot inventory in major consumption regions increased by 4,000 mt MoM today, with the inventory buildup mainly coming from Guangdong and Gongyi. In the short term, after the Chinese New Year, aluminum ingot inventory has continued its seasonal buildup. Affected by bullish market sentiment, premiums are expected to maintain a narrowing trend.

[SMM Aluminum Express News] The Aluminium Association of India (AAI), representing major domestic producers, has urged the government to exempt aluminum products from the recent 50% cut in RoDTEP (Remission of Duties and Taxes on Exported Products) rates. Previously, aluminum exports qualified for ~3% RoDTEP benefits for Domestic Tariff Area (DTA) units and ~2.2% for SEZ units. AAI warned that the cut could strain exports amid rising global trade barriers (e.g., tariffs, CBAM), shrinking opportunities, and competition. It also called for 2026-27 RoDTEP rates to be set based on actual unrebated taxes borne by exporters, ensuring fair compensation for both DTA and SEZ units. This aims to maintain competitiveness for Indian aluminum in international markets.

[SMM Cast Aluminum Alloy Morning Comment: V-Shaped Rebound in Futures, ADC12 to Fluctuate at Highs in the Short Term] Overnight, aluminum alloy 2604 in the night session bottomed out and showed a rangebound fluctuating trend: after the opening, it quickly fell to around 23,570 yuan/mt, then fluctuated upward, with a trading range of 23,570-23,715 yuan/mt, and closed at 23,710 yuan/mt at the end of the session, down 0.50% from the previous day's closing price. Intraday, it first fell sharply and then staged a V-shaped rebound, before entering sideways consolidation, with the tug-of-war between longs and shorts remaining balanced. Trading volume shrank, open interest edged up slightly, and market sentiment remained cautious.