[SMM Express] China's mainstream consumption areas saw secondary aluminum alloy ingot inventory increase by 112 mt from the previous trading day to 30,900 mt today, continuing a slight inventory buildup trend.

[Inventory Buildup and Macro Tailwinds Offset Each Other, Aluminum Prices Trade in a Range] The risk of supply disruptions to aluminum outside China has not yet subsided, and the ex-China aluminum ingot supply-demand gap will continue to provide support for aluminum prices. Meanwhile, the continuation of higher-than-expected inventory buildup in China will weigh on domestic aluminum prices. At the same time, tightened invoicing regulations may lead to structural tightness in spot cargo, and the weakening spot market will further limit upside room for domestic aluminum prices. Close attention should be paid to the potential emergence of a turning point in China's social inventory, which could drive a rebound and rise in aluminum prices.

[SMM Cast Aluminum Alloy Morning Comment: Demand Suppression and Cost Support, ADC12 Prices Move Sideways] On Monday, the ADC12 market was generally stable with slight rise. Most enterprises, influenced by the rebound in aluminum futures and rising aluminum scrap raw material costs, raised their quotes by 100 yuan/mt accordingly.

[SMM Analysis]Secondary Aluminum Operating Rate Declined in April, with Downward Pressure Persisting in May

【SMM铝合金日评】期货方面，铝合金2607合约今日呈现低开高走的反弹态势，价格在下探22910元/吨支撑位后迅速拉升，午前收盘报23255元/吨，涨幅1.09%。现货上，多数企业受铝价盘面反弹及废铝原料成本抬升影响，顺势上调报价100元/吨。预计短期内ADC12价格将在成本支撑与需求乏力的博弈下，维持窄幅震荡整理格局。

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in China's major consumption areas increased by 200 mt from the previous trading day to 30,800 mt, continuing a slight inventory buildup trend.

[SMM Analysis]Weak Supply and Demand, Cost Support: ADC12 Prices in Narrow-Range Doldrums

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiations and technical exchanges for industry partners. Rooted in the deep processing of copper-based new materials, focusing on high performance copper semis R&D and high-end copper conductor intelligent manufacturing, Aerospace (Yichang) Copper Technology Co., Ltd. is dedicated to process innovation and quality upgrading. The company will showcase core products including oxygen-free copper, low-oxygen copper, and copper-based alloys at the exhibition, demonstrating hardcore strength with aerospace-grade scientific and technological innovation processes, and joining forces with precision-crafted products to promote industrial synergy and jointly explore new frontiers of high-quality development in the copper semis industry. Aerospace Electric Group Co., Ltd. (hereinafter referred to as "Aerospace Electric") was founded in 1956, with a registered capital of 637 million yuan, total assets of 4.654 billion yuan, and over 1,800 employees, including 2 State Council Special Allowance experts and over 100 professionals with intermediate and senior titles. Products cover new energy power generation cables (wind power, PV); mine flame-retardant cables; rail transit power cables; NEV high-voltage cables and charging piles cables; general rubber-sheathed cables; power cables of 35KV and below; JP cables for aviation, aerospace, and naval vessels; overhead conductors (ground wires); environmental protection wiring; and copper rod and round copper wire for electrical use. On April 29, 2025, Aerospace (Yichang) Copper Technology Co., Ltd. (hereinafter referred to as Aerospace Copper) was established, dedicated to building a leading high performance copper semis manufacturing enterprise in China . The company is located in Baiyang Logistics Park, High-tech Zone, Yichang City, and is controlled by Aerospace Electric Group Co., Ltd. The Phase I project of Aerospace Copper focuses on the copper rod processing sector , specializing in two core products: upward continuous casting oxygen-free copper and continuous casting and rolling low-oxygen copper . Leveraging domestically advanced production lines, the company currently has 69 employees and possesses an annual processing capacity of 120,000 mt of copper rod. Its equipment automation level is industry-leading, with an annual output value exceeding 7 billion yuan. On July 30, 2025, the upward continuous casting production line of Aerospace Copper successfully started production. On August 15, 2025, the upward continuous casting production line successfully produced its first rod. On September 19, 2025, the continuous casting and rolling production line of Aerospace Copper successfully started production. On November 20, 2025, the continuous casting and rolling production line completed trial rod production. On November 23, 2025, the continuous casting and rolling production line officially produced rod. This marked that the Phase I project of Aerospace Copper is about to be fully completed and put into operation. In 2026, Aerospace Copper will gradually advance the construction of its Phase II project, building an entire industry chain encompassing R&D and production of copper conductors and copper-based alloys with cross-sections below 1,000mm² . The target is to achieve annual sales revenue exceeding 10 billion yuan, with completion and commissioning planned for October 2026, injecting strong momentum into the development of the wire and cable industry cluster in the Yijingjing'en metropolitan area. Aerospace Copper adheres to innovation-driven development, engaging in deep cooperation with universities such as Huazhong University of Science and Technology and China Three Gorges University to promote product upgrades and achieve localisation substitution in the copper alloy field. Meanwhile, the company advances intelligent and information-based equipment construction and cultivates high-quality technical talent. The company has established a comprehensive talent development system, providing skills training, dual channels for career advancement, and competitive compensation and benefits, creating a broad development platform for employees. Aerospace (Yichang) Copper Technology Co., Ltd., with quality as its foundation and innovation as its wings, continuously provides high-quality products to clients and co-creates value with partners! May 14-15, 2026, Jiangsu · Suzhou International Conference Hotel . Friends from all sectors are welcome to attend the conference in person and visit the booth of Aerospace (Yichang) Copper Technology Co., Ltd. (E16) to experience up close the technological strength and product appeal of this cable equipment R&D enterprise, explore new cooperation opportunities together, and open a new chapter for the industry. SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition May 14-15 Jiangsu · Suzhou International Conference Hotel Participating enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industry, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan...... Click to View ☛ ｜

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiation and technical exchange among industry partners. Shaanxi Kunlan Cable Manufacturing Co., Ltd. has a team of professional technical personnel and workers, and has established a provincial-level enterprise technology R&D center, providing strong technical assurance for product quality control, improvement, and new product R&D. As a modern technology-oriented manufacturing enterprise integrating R&D, production, sales, and services, the company has always focused on wire and cable. It will showcase a variety of high-quality wire and cable products in multiple specifications at the exhibition, injecting new vitality into the industry. Shaanxi Kunlan Cable Manufacturing Co., Ltd. was established on April 19, 2016. It is a modern professional wire and cable manufacturing enterprise integrating R&D, production, sales, and technical services . Its production site is located in the provincial-level economic development zone in Linyou County, Baoji City, covering an area of approximately 50,000 m², with an annual capacity exceeding 2 billion yuan. With over a decade of deep cultivation in the cable field, the company has become a highly competitive and capable enterprise in China's cable sector, backed by its solid product quality, comprehensive qualification system, and customized service capabilities. The company possesses leading professional production equipment and detection instruments in and outside China, strictly manufactures in accordance with national standards and international organization standards, and has built a closed-loop quality system covering raw material selection, full production process control, and rigorous finished product inspection before delivery, establishing a complete and well-rounded product system. The company mainly sells household wiring cables, low/medium/high voltage power cables, control cables, mineral-insulated fireproof cables, coal mine cables, aerial insulated cables, aerial bundled cables, pre-branched cables, rubber-sheathed cables, flame-retardant cables, fire-resistant cables, low-smoke halogen-free cables, irradiation-crosslinked cables, etc. It can design and produce specialty cables according to client requirements . The sales network covers the entire country, and the company has established long-term strategic partnerships with key project entities including State Grid Corporation of China, China Railway Group, CNNC, China Energy Engineering, China Railway Construction, AVIC, China Minmetals, China National Chemical Engineering, China State Construction, Xi'an Metro, Shaanxi Construction Group, Shaanxi Coal Group, Yanchang Petroleum Group, China Resources Land, among others. Company Qualifications : The company has obtained the National Industrial Product Production License, National Compulsory Product CCC Certification, Quality/Environmental/Occupational Health and Safety Management System Certification, ECM Certification, CNNC Qualified Supplier Certification, State Grid Certificate of Compliance, Coal Mine Safety Certification, etc. The company has been recognized as a AAA Credit Enterprise in Shaanxi Province, an Advanced Enterprise for Honest Business Operations in Shaanxi Province, and a Trusted Consumer Unit in Shaanxi Province. It has received honors including "Growth Enterprise," "High-tech Enterprise," "Above-scale Enterprise," "Technology Little Giant Enterprise," "Specialized, Refined, Differentiated and Innovative Enterprise," and "Industrial Enterprise R&D Center." Adhering to the business philosophy of "Integrity, Pragmatism, Cooperation, and Win-win," Shaanxi Kuncable has always upheld its commitments of "Domestic Excellence, Technology and Environmental Protection," "National Standard Quality, Safe and Durable," and "Guaranteed Full Meters, Tenfold Compensation for Shortages," serving a broad range of users with the mission of "Quality Products and Satisfactory Service." Product Display Shaanxi Kuncable Cable Manufacturing Co., Ltd. will continue to focus on the wire and cable industry, driving product upgrades through technological innovation and building a solid foundation for development through rigorous quality control. The company is committed to becoming a benchmark enterprise in the wire and cable industry and realizing its vision of "Going Global, Facing the World"! May 14-15, 2026, Suzhou International Conference Hotel, Jiangsu , we welcome friends from all sectors to attend the conference in person and visit the booth of Shaanxi Kuncable Cable Manufacturing Co., Ltd. (E28-29) to experience up close the outstanding quality and technological strength of Shaanxi Kuncable, explore new cooperation opportunities, and open a new chapter for the industry together. SMM WCCE 2026 (4th) Wire and Cable Industry Development Conference & Industrial Exhibition May 14-15 Suzhou International Conference Hotel, Jiangsu Participating Enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industrial, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan... Click to View ☛ ｜

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiation and technical exchange among industry partners. Rooted in the non-ferrous metal deep processing sector and focusing on copper-based new material R&D and high-end metal product intelligent manufacturing, two strong enterprises have been deeply engaged in process innovation and quality upgrading. They will showcase high-end copper-based new materials and precision metal products at the exhibition, demonstrating hardcore strength through scientific and technological innovation, and fostering industrial cooperation through fine craftsmanship and premium products, jointly exploring new frontiers in the non-ferrous metal industry. Luohe Jinpusen Metal Technology Co., Ltd. was established on June 6, 2022, with a registered capital of 66 million yuan. It is a company integrating R&D, manufacturing, sales, and services of metal products. The company's total project investment was 260 million yuan, covering an area of 68 mu with a building area of 18,000 m². Jinpusen emphasizes technological innovation and R&D investment, possessing a professional R&D team and advanced production equipment. In accordance with internationally advanced copper rolling and processing technologies and process standards, the company has implemented the "Annual Production of 80,000 mt Copper Rod and 30,000 mt High-Purity Oxygen-Free Copper Wire Project" and the "Annual Production of 110,000 mt Non-Ferrous Metal Processing Project" . By introducing advanced copper rolling and processing technologies from in and outside China, Jinpusen has continuously improved product quality and performance. With scientific research innovation, process quality, and comprehensive services, the company has earned market recognition and client acclaim. Its products are widely used in military industry, automotive, State Grid Corporation of China, electronics, new energy, smart transportation, and many other fields. Business Scope: Using high copper content Grade 1 copper as raw material, the company is primarily engaged in the technical R&D, manufacturing, and sales of copper metal materials and related products; metal product manufacturing, processing, and sales; manufacturing, processing, and sales of bright low-oxygen copper rod, oxygen-free copper rod, copper busbar, high-precision copper wire, alloy composite copper wire, high-precision copper plate/sheet and strip, and copper pipe & tube; copper metal wire drawing processing, etc. Luohe Yuanheng New Materials Co., Ltd. was established on August 8, 2024, with a registered capital of 50 million yuan. It is a modern enterprise focused on the new materials sector. Yuanheng New Materials has introduced internationally advanced non-ferrous metal rolling and processing production lines, combined with independently developed precision processing techniques, enabling high-precision and high-efficiency rolling and processing of various non-ferrous metal raw materials. Its main products include bright low-oxygen copper rod, oxygen-free copper rod, anode plates, and copper metal wire drawing products, which are widely used in high-end manufacturing fields such as electronic information, aerospace, and new energy. In 2025, the company achieved an annual output value of 5.3 billion yuan, with annual tax payments of 450 million yuan. The output value is expected to reach 7 billion yuan in 2026. Yuanheng New Materials has always upheld the development philosophy of "Innovation, Quality, Green, and Win-Win" , committed to technological innovation and sustainable development. The company will continue to increase investment in R&D and resource recycling, deepen upstream and downstream cooperation, and strive to enhance core competitiveness, facilitating the green, intelligent, and high-end development of the new materials industry. May 14-15, 2026, Jiangsu · Suzhou International Conference Hotel . Friends from all sectors are welcome to attend the conference in person and visit the booths of Luohe Jinpusen Metal Technology Co., Ltd. and Luohe Yuanheng New Materials Co., Ltd. (E27) to experience up close the strength of high-precision copper semis intelligent manufacturing and the innovative charm of high-end new materials, explore new cooperation opportunities, and open a new chapter for the industry together. SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition May 14-15 Jiangsu · Suzhou International Conference Hotel Participating enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industrial, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan... Click to View ☛ ｜